Aircraft Tires Market – Business Strategies, Industry Share, Size 2022 to 2030

The global aircraft tires market valued at US$ 1.50 billion in 2020. The global aircraft tires market is forecast to reach US$ 2.82 billion by 2030, with a growing compound annual growth rate (CAGR) of 6.5% during the forecast period from 2021-2030.

Aircraft tires are an essential part of every aircraft. A wide range of factors is taken into account when designing aircraft tires. They are also available in several sizes. Equipment of this type demands the highest level of quality and safety. The proper design of a tire allows the tire to withstand various unfavorable conditions without blowing up. Aircraft tires require extensive engineering and computation. The majority of aircraft tires adhere to standard specifications. Federal Aviation Administration (FAA) standards govern aircraft tire performance.

Factors Influencing Market Growth
The demand for newer generation aircraft in the commercial and military sectors has been rising, so one of the primary reasons for growing the aircraft tire market.

Air travel is increasing in the commercial sector, leading companies to add more destinations and routes, stimulating the demand for new aircraft and new tires.

Increasing geopolitical tension and the growth in investment by the air defense sector anticipate contributing to market growth.

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A spike in flight hours has led to faster aircraft deliveries and a shorter replacement cycle for tires, driving up the demand for aircraft tires.

The rising price of raw materials such as rubber restricts the expansion of the Aircraft Tire Market.

Research and development of highly effective aircraft tires in partnership with international universities and prominent vendors will provide lucrative growth opportunities for the global Aircraft Tire Market.

Impact Analysis of COVID-19
COVID-19 has an unpredictable impact on the global aircraft tires market, and it is forecast to remain in effect through the second quarter of 2021.

In response to the COVID-19 outbreak, the government imposed a stringent lockdown that resulted in flight cancellations and a ban on e-commerce, which led to a massive decline in commercial aviation and logistics activities globally.

The nationwide lockdowns also disrupted the supply chains as manufacturing facilities globally had to close down partially or entirely.

COVID-19's adverse effects caused extensive supply-demand issues and prolonged delays in aircraft tire operations around the world.

Region Insight
Asia Pacific anticipates growing at the highest CAGR during the forecast period. In recent years, China, India, and Japan have seen a rapid increase in passengers, resulting in large orders for new aircraft from airlines operating in the region. China, India, Indonesia, Singapore, Thailand, and Vietnam are among the countries that have seen significant growth in passenger traffic in the Asia-Pacific. China's major airlines have an order backlog of approximately 350 aircraft, while India's major airlines are ordering more than 700 aircraft. It, in turn, will boost the Asia Pacific market.

Leading Competitors
The prominent leading companies in the global aircraft tires market are:
Aviation Tires & Treads, LLC
Bridgestone Corporation
Compagnie Generale des Etablissements Michelin
Desser Holdings LLC
Dunlop Aircraft Tires Limited
Petlas
Qingdao Sentury Tire Co., Ltd.
Specialty Tires of America
The Goodyear Tire and Rubber Company
Wilkerson Company, Inc.
Other Prominent Players

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Scope of the Report
The global aircraft tires market segmentation focuses on Type, Application, Distribution, and Region.

Segmentation based on Type
Radial
Bias

Segmentation based on Application
Commercial Aviation
Military Aviation
General Aviation

Segmentation based on Distribution
OEM
Replacement

Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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