Aircraft Tires Market Size By Construction (Bias, Radial), By Product (Tube, Tubeless), By Aircraft (Commercial [Narrow-body, Wide-body], Regional, Business, Helicopter, Military), By Platform (Fixed Wing, Rotary Wing), By End-user (OEM, Aftermarket), By Position (Main, Nose/Tail), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Aircraft tires market is likely to witness a healthy growth rate over the upcoming timeframe owing to several technological advancements in the aircraft tire technology and rising production of commercial aircrafts to replace ageing fleets.
Aircraft tires support the weight of the aircraft when on the ground and when landing. They offer the traction that is necessary for stopping and braking the aircraft. They also help absorb the tremendous shock of landing, taxi operations, cushion the roughness during takeoff, rollout.
Aircraft tires generally accept a diversity of dynamic and static stresses, and should be able to do so consistently in a wide range of operation conditions. Furthermore, the construction of aircraft tires is for the purpose it serves. It does not have the need to carry any kind of load for a longer period of continuous operation like in the case of truck or automobile tires. The level of deflection that is built into an aircraft is more than double the automobile tire.
Aircraft tires market is bifurcated in terms of structure/construction, product, aircraft, platform, end-user, position, and regional landscape.
Based on structure/construction, the market is classified into radial tires, and bias/ply tires. Among these, the bias/ply tires will be growing at a CAGR of 3.9% over the forecast timeframe. These tires are an ideal choice owing to their re-treadability and durability.
With respect to product, the market is divided into tubeless tires, and tube tires. Among these, tubeless tires held more than 75% share of the global market in 2019, which is expected to grow further by 2026.
Tubeless tires are generally thicker, with less permeable rubber. This substitutes the tube based tires and comprises inflation air or nitrogen within the tires and further keeps from leaking through the carcass piles.
Based on aircraft, the market is categorized into business aircraft, commercial aircraft, military aircraft, regional aircraft, and helicopters. Among these, the helicopters will account for 0.95% share of overall market in the forecast timeframe as the wheeled helicopters have lower penetration in aerospace sector.
With respect to platform, the market is classified into rotary wing and fixed wing. Among these, the Fixed wing aircrafts will generate more than $3.4 billion by 2026, with a CAGR of 2.9%.
Based on end-use, the market is segmented into aftermarket and OEM. The OEM end-use segment will have a growth rate of 2.1% over the projection time period, and will grow steadily during 2020 to 2026.
With respect to position, the market is divided into nose/tail and main. The nose/tail segment reported least share of overall market, with a CAGR of 1.9%.
From a regional frame of reference, the Middle East & Africa aircraft tires market is likely to report a CAGR of 4.9% over projected timeframe and will have substantial share of the global market by 2026.
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