Asia Pacific aircraft tires market is expected to observe significant growth during the forecast period impelled by increasing investment for building aircraft MRO facilities in the region.
Selbyville, Delaware, April 06, 2020 (GLOBE NEWSWIRE) — According to latest report “Aircraft Tires Market by Construction (Bias, Radial), Product (Tube, Tubeless), Aircraft (Commercial, Regional, Business, Helicopter, Military), Platform (Fixed Wing, Rotary Wing), End-user (OEM, Aftermarket), Position (Main, Nose/Tail), Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aircraft tires will reach $3.5 billion by 2026. Increasing expenditure towards MRO spending as well as growing number of air travel passengers will be propelling industry growth over forecast time period.
Rising air traffic around the globe will stimulate the aircraft tires market growth. Worldwide number of passengers carried through air transport reported approximately 4 billion in 2018, which is expected to grow exponentially by 2026. These trends will drive necessity for more aircrafts in upcoming years, which will further create market demand across the globe.
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Radial tire segment is poised to expand at 3.9% CAGR till 2026 owing to increasing need for achieving longevity of tire replacement cycle as well as light weighting. These products are constructed using fiber strands which are inclined at 90º angle to the sidewalls of tires.
Tube tires will hold nominal share of overall aircraft tires market during the projected timeframe due to its higher weight than that of tubeless tires. These tires have been utilized in small & medium airplanes in the past. However, increasing modernization in tire construction along with key benefits of tubeless products will be shifting manufacturers focus by 2026.
Regional aircrafts will be having significant share of the total market through 2026. Rising domestic and international air passengers demand will be stipulating growth of this aircraft segment.
Rotary wings will expect moderate market share between 2020 and 2026 due to lower penetration of wheeled helicopters worldwide. However, rising need for higher speed aircrafts as well as concerns toward fuel saving will stipulate share of wheeled rotary aircrafts, which will drive the market revenue.
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Aftermarket segment is predicted to register highest share of the overall market on account of higher replacement cycle of aircraft tires for wide body and narrow body commercial segment.
Asia Pacific aircraft tires market is expected to observe significant growth during the forecast period impelled by increasing investment for building aircraft MRO facilities in the region. Additionally, rising number of air travel passengers as well as increasing penetration of low-cost airliners will drive the market share in Asian countries.
Some major findings of the aircraft tires market report include:
- Industry is highly consolidated due to presence of stringent regulatory norms.
- Middle East & Africa will be key region accounting for highest CAGR for the forecast period. Increasing MRO spending of this region will be responsible behind its substantial growth.
- Aircraft tire service industry including retreading and replacement will dominate the global market size by 2026.
- Radial tires will be rising at highest rate as it extends average landing cycle of an aircraft.
- Main position will hold highest share of the global market due to increasing need for the tire retreading and replacement of aircrafts worldwide.
- Key aircraft tire manufacturers include Bridgestone, Specialty Tires of America, Goodyear, Michelin and Dunlop.
Table of Contents (ToC) of the report:
Chapter 3 Aircraft Tires Market Insights
3.1 Industry segmentation
3.2 Industry size, and forecast, 2016 – 2026
3.3 Industry ecosystem analysis
3.3.1 Value addition at each stage
3.3.2 Distribution channel analysis
3.3.3 Vendor matrix
188.8.131.52 List of key manufacturers/suppliers
184.108.40.206 List of key/potential customers
3.4 Industry megatrends
3.5 Innovation & sustainability
3.5.1 Technology landscape
3.5.2 Production process
3.5.3 Future trends
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.8 Regulatory trends
3.9 Growth potential analysis
3.10. Competitive landscape
3.10.1 Company market share analysis, 2018
3.10.3 Strategic dashboard
3.11. Porter’s analysis
3.11.1 Threat of new entrants
3.11.2 Threat of substitutes
3.11.3 Industry rivalry
3.11.4 Supplier’s power
3.11.5 Buyer’s power
3.12. Price trends
3.12.1 Regional price trends
3.12.2 Cost structure analysis
220.127.116.11 R&D cost
18.104.22.168 Manufacturing cost
22.214.171.124 Component and Raw Material cost
126.96.36.199 Distribution cost
188.8.131.52 Operating cost
184.108.40.206 Miscellaneous cost
3.13. PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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