Advancement in aircraft tires leads to grow the tire industry substantially: Tires which meets engineering standards of airports in aeronautical industry are making their rooms in aviation industry on the back of rising concerns towards safety and security of flights take off and landing operations.
The global aircraft tire market is segmented into aircraft type such as civil aircraft tires and military aircraft tires. Among these segments, military aircraft tires are expected to witness noteworthy growth owing to the increasing critical defence infrastructures and high demand for safety.
Global aircraft tire market is expected to reach USD 3.1 Billion by the end of the forecast period i.e. 2024 on the back of rising demand for aircraft tires in aftermarket. Aftermarket segment is the largest revenue generated segment in overall end-user segment followed by OEM’s. The rising number of airliners across the globe and entry of new aviation players are the two major factors which are driving the demand for aircraft tire. Asia-Pacific aircraft tire market is the most opportunistic and revenue generated market on the back of emerging economies such as China, India, and others. The rising air traffic along with the globalization of businesses is expanding the aviation industry in Asia-Pacific region. These factors are majorly driving the growth of aircraft tire market in near future. The market of Asia Pacific region is mainly upsurge by the growing aviation industry and high investment by government in extension of existing airports and maintenance of runways.
Connected tires are new future for aeronautical industry
Adoption of internet of things (IoT) in industries such as manufacturing, logistics, transportation etc is becoming a global traction. Top players of aircraft tires are manufacturing tires embedded with advanced power sensors which can detect and absorbs high pressure & shocks during takeoffs and landings. Digital data generated by connected tires can be easily monitored with the help of smart phones. These connected tires have potential to reduce risk for breakdown or failure and also the operational cost of airports.
Dependency on storage conditions restricting the market growth
Aircraft tires are made of multiple materials such as nylon and rubber. Different types of tires such as tubeless and tube tires are designed for specific roles. These materials lead to proper inflation check and maintenance to increase the life span of aircraft tires. Physical conditions are important to check timely between multiple flights makes it more dependent. Excess inflation pressure can lead to tube breakage or leakage whereas contaminants (oils grease or tar) are harmful for aircraft tires. Thus storage conditions are very crucial for aircraft tires.
“Global Aircraft Tire Market Outlook 2024” contains detailed overview of the global aircraft tire market in terms of market segmentation by aircraft type, product type and by End-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global aircraft tire market which includes profiling of companies of Goodyear Aviation tire, Bridgestone, Michelin etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global electric mattress market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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