ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global aircraft tire market for the forecast period 2021-2031. According to the report, the market is expected to post impressive gains, expanding at a CAGR exceeding 6% throughout the forecast period. Increasing production of narrowbody and widebody aircrafts are spurring demand.
The market posted steady growth in historical period, backed
by the high demand of bias ply aircraft ties from military aviation industry.
Consistent demand for narrowbody aircrafts backed by the high demand from
defense and military sector across the U.S., India, China, and Germany
bolstered the market growth.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6112
Competitive advantage of bias ply over radial ply in
providing higher strength, stability and ground traction will continue to
fuelling the demand for former over the forecast period. Besides this, a key
trend gripping the aircraft tires landscape is the drive towards attaining
sustainability in manufacturing of aircraft tires.
Surging adoption of high performance material such as Kevlar
is a notable development in this regard, with key players emphasizing on
attributes including sustainably sourced raw material to manufacture their
products.
For instance, Bridgestone Corporation are using Kevlar in
the manufacturing of its narrowbody military aircrafts, while another leading
player Goodyear Tire and Rubber Company is conducting R&D activities to
incorporate new innovation in the manufacturing of its bias ply aircraft tires.
Key Takeaways from FMI’s Aircraft Tire Market Study
- In
terms of ply type, bias ply aircraft tires are expected to remain dominant
- Narrowbody
aircraft tires are expected to witness higher growth backed by the high
production of military aircrafts
- Demand
for aircraft tires to witness high growth across aftermarket segment
- The
U.S. is expected to be the most lucrative market across North America
- China
is anticipated to lead the Asia Pacific aircraft tire market, registering
impressive growth through 2031
- Germany
and the U.K. are expected to lead Europe’s aircraft tire market over the
forecast period
“Advanced technology and increasing investment in the
research & development activities for developing fuel efficient and light
weight aircraft is improving the demand of aircraft tires, creating impressive
growth opportunities for key players,” says the FMI analyst.
We Offer tailor-made Solutions to fit Your Requirements,
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-6112
Who is Winning?
Fierce competition within the market have led the key
players to adopt numerous organic and inorganic strategies to maintain the
lead. Product expansion, technological innovations, research & development
activities, targeted mergers & acquisition are few of the strategies
manufacturers rely upon among others.
Goodyear Tire & Rubber Company, one of the world’s
largest tire company, in October 2020 announced KADEX Aero Supply as its
aviation distributor, a Canadian aviation parts distributor company. Though
this partnership, Goodyear aims to expand its footprints in Canada.
Dunlop Aircraft Tyres Limited (DATL), another prominent
player, recently invested US4invested US$ 70.92 million in an aircraft tyre
retreading factory in Karawang, West Java, Indonesia. Also, DATL has announced
to start up a new aircraft tyre production plant in the same location to expand
their customer base.
Some of the leading aircraft tire companies profiled by FMI
include Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie
Générale des Établissements Michelin, Dunlop Aircraft Tyres Limited, and
Polymer Enterprises Inc. among others.
Key Segments Covered
Aircraft Type
- Small
Widebody Aircraft
- Medium/
Large Widebody Aircraft
- Narrowbody
Aircraft
- Propeller
Aircraft
- Helicopter
- Defense
and Homeland Security Aircraft
- Freighters
Ply Type
- Bias
Ply
- Radial
Ply
Sales Channel
- OEM
- Aftermarket
Region
- North
America (US and Canada)
- Latin
America (Brazil, Mexico and Rest of Latin America)
- Europe
(Germany, France, Spain, UK, Italy, Nordics, BENELUX, Russia and Rest of
Europe)
- Asia
Pacific (India, Malaysia, China, Japan, Australia, Thailand and South
Korea and Rest of APAC)
- Middle
East & Africa (GCC, South Africa, Turkey and Rest of MEA)
Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/6112
Key Points Covered in Aircraft Tire Market
- Market
estimates and forecast 2021-2031
- Key
drivers and restraints impacting market growth
- Segment-wise,
Country-wise, and Region-wise Analysis
- Competition
Mapping and Benchmarking
- Brand
share and Market Share Analysis
- Key
Product Innovations and Regulatory Climate
- COVID-19
Impact on Aircraft Tire Market and How to Navigate
- Recommendation
on Key Winning Strategies
Comments
Post a Comment