Global Aircraft Tires Market - Growth, Trends, and Forecast (2018 - 2023)
The market is expected to register a CAGR of over 5%, during the forecast period. Aircraft tires are one of the complicated engineered products in the global tire market. They play a critical role in the performance of the aircraft. Aircraft tires require specific requirements of tire fabrics and tire cords as contrary to other automotive tires. Aircraft tires are produced with a number of materials but the basic raw materials include steel, Nylon cord, artificial and natural rubber, and other chemicals. The basic strength of the tire is provided by the casing plies. Casing plies are layers of fabric cord coated with hi-modulus rubber on both sides. However the tread helps to improves traction and grip between the tire tread and runway surface.
Narrow and wide-body jets form the majority of the aircraft fleet. Narrow body jets are the most flexible form of aircraft preferred by the low cost commercial carriers. They are economical, with easy maintenance, shorter turnaround time and provide scale economy for high frequency routes. Wide bodied jet airplanes are mostly deployed on the longest routes. The market is smaller in numbers of aircraft and annual cycles than the narrow bodied market. For the military operation segment, there is a significant demand on aircraft tires. Loads can be substantial and speeds are usually more than 225Mph.
Aircraft Tire manufacturers provide tires to the civil and military segments where they serve Air forces, Naval Forces and Marine Corps with tires regularly. Dunlop Aircraft Tires are certified suppliers to the wide bodied jets like Boeing 767 and 747. According to the tire technology, radial tires would hold a significantly larger market share, especially due to the increased preference of less-weight tires in an aircraft. Radial aircraft tires differ to bias aircraft tires in their technology, where the plies run radially from one bead to the other at approximately at a right angle along the centerline of the tire. Angled belt plies are laid between the tread and the top casing ply, resulting in a flatter tread and adding strength to the tire. Radial tires are also preferred due to their low fuel consumption since they are lighter with fewer components. However, radial tires tend to have fewer retreads than a bias ply tire and exhibit weaker sidewalls. There has been switch to raw materials, like Kevlar in the manufacturing of radial tires, providing a different dimension in the growth of these tire segment in the aircraft industry.
The growth of the market is primarily driven by the demand in the APAC region. The region is expected to incur the highest growth rate in the aircraft tires market during the forecast period. This growth in aircraft tires market can be primarily attributed to rising air traffic in the Asia-Pacific region. The surge in demand for advanced and new aircraft, influenced by numerous factors, such as network expansion by new airlines would foster the demand of aircraft tires. Critical factors, like replacing obsolete wide-bodied aircrafts, rise in passenger traffic, growing demand for fuel efficient aircraft equipment’s shown by emerging economies has contributed towards the growth of the aircraft tires market.
Major Players: BRIDGESTONE, CONTINENTAL GROUP, GOODYEAR AIRCRAFT, DUNLOP AIRCRAFT, MICHELIN GROUP, among others.
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