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Global Aircraft Tires Market
Global Aircraft Tires Market was valued at US$ 1.34 Bn 2019 and is expected to reach US$ 1.96 Bn by 2027, at a CAGR of 4.9% during a forecast period.
An aircraft tires are with new technology designed to withstand extremely heavy loads for short durations.Major driving factors of the Aircraft Tires are the increased in passenger travel experience and regional airlines with increased traffic, revenues and greater market share. New aircraft are coming with the powerful engines for improved performance out of challenging airports and reduced maintenance requirements.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Aircrafts are now with additional routes provided passengers in smaller communities with more flight options. Geopolitics to technological innovation, demographic shifts to environmental concerns, and the winds of change buffeting the industry can come from many directions. In Europe and other parts of the world, airlines were seeking regional ...
... jets with more seats and lower seat mile costs such as the CRJ1000. Stringent aviation regulations and high cost of aviation tires will act as restraint to the market.
Based on the Application, Commercial segment is expected to hold the largest share in the market during the forecast period. The commercial aviation sector is soaring. More people are taking to the air than ever before, as our industry has now recorded eight straight years of steady and above-trend growth. One of the main reasons for this sector growth of the middle class with enough purchasing power to fly – this middle class is leaving rural areas to go to cities, entailing the growth of a population with greater purchasing power and opportunities.
New Technology – Revolutionarily Reinforced Radial (RRR)
The Concorde tragedy prompted aircraft manufacturers towards greater focus on tire safety, and Bridgestone responded with technology designed to improve tire durability. The goal was to provide improved casing integrity which minimizes the likelihood of scattering tire fragments after foreign object damage, and we named the technology RRR. Aircraft tires must operate at very high loads and with high pressure, and accordingly are manufactured to be extremely strong. Their considerable casing strength allows the use of high inflation pressures, up to 6-7 times that of car tires and almost doubles that of truck/bus tires. This high pressure makes aircraft tires prone to tire growth whereby tread rubber expands, making the tire more prone to damage (cutting, scarring, wearing, etc.).
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period for Aircraft Tires. Economics and population growth have led the countries like India and China are quickly becoming of the powerhouses of the aviation industry in the region. World aviation focal point of gravity is proceeding with its eastbound move, with China and India ready to highlight among the world's main three air-travel showcases by forecasted period as rising earnings make passages progressively reasonable. China’s growing middle class will eventually lead to the country overtaking the U.S. within 5 to 7 years as the largest domestic airplane passenger market in the world.
The Aircraft Tires report includes a study of Porter’s Five Forces model to analyse the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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The Scope of the Report for Aircraft Tires Market
Global Aircraft Tires Market, By Application
Global Aircraft Tires Market, By Aircraft Type
Global Aircraft Tires Market, By Product Type
Global Aircraft Tires Market, By End User
Global Aircraft Tires Market, By Platform
• Rotary Wing
Global Aircraft Tires Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Aircraft Tires Market
• Michelin Group
• Bridgestone Corporation
• Goodyear Tire & Rubber Company
• Dunlop Aircraft Tyres Ltd.
• Qingdao Sentury Tire Co., Ltd
• Desser Tire & Rubber Co., LLC
• Guilin Lanyu Aircraft Tire Development Co., Ltd
• Petlas Tire Corporation
• Specialty Tires of America, Inc.
• Sentury Tire
• Wilkerson Company, Inc.
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