Infinium Global Research, a prominent market research firm, has published a detailed report offering a comprehensive analysis of the global Aircraft Tire market. The report delves deep into segments and sub-segments, focusing on both global trends and regional insights that significantly impact this dynamic industry.
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Steady Market Growth
Steady Market GrowthThe global aircraft tires market was valued at USD 106,344.1 million in 2022 and is expected to grow exponentially to USD 204,780.9 million by 2030, exhibiting a robust CAGR of 5.47% during the forecast period 2023-2030.Aircraft tires play a vital role in supporting heavy equipment. They reduce short-term loads, provide traction for braking, and cushion unevenness while working on various ground surfaces. These tires are subjected to various stresses and therefore require proper maintenance to function effectively.
Driving Forces and Market Trends:
The global aircraft tires market was valued at USD 106,344.1 million in 2022 and is expected to grow exponentially to USD 204,780.9 million by 2030, exhibiting a robust CAGR of 5.47% during the forecast period 2023-2030. Aircraft tires play a vital role in supporting heavy equipment. They reduce short-term loads, provide traction for braking, and cushion unevenness while working on various ground surfaces. These tires are subjected to various stresses and therefore require proper maintenance to function effectively. Driving Forces and Market Trends Modernization efforts within airlines driven by increasing aviation demand, improved passenger comfort, and improved operational efficiency are key factors propelling the market growth. To improve performance and durability, manufacturers are exploring new materials such as carbon fiber that offer benefits such as increased payload and improved fuel efficiency. However, challenges related to the availability of raw materials such as synthetic rubber compounds and high-strength steel cords may impact market trends.
Regional Dominance and Market Segmentation:
North America is poised to dominate the market, with the US leading the demand in this region due to major aircraft manufacturers such as Boeing and Bombardier. This dominance is expected to continue in the future, contributing to the significant growth of the aircraft tires market. The Asia Pacific region, especially China, is experiencing rapid growth, exhibiting a compound annual growth rate (CAGR) of over 5% due to increasing demand within the region.
Insights into Market Segments:
Market Segment Insights report segments the market based on product type (radial and bias), platform (fixed wing and rotary wing), and end user (civil aviation, military & defense aviation, and general aviation).
The report segments the market based on product type (radial and bias), platform (fixed wing and rotary wing), and end user (civil aviation, military and defense aviation, and general aviation).
Key Industry Players:
Key market players such as The Goodyear Tyre and Rubber Company, Michelin, Bridgestone India Private Limited, and Dunlop Aircraft Tyre Limited provide insights into the contributions and strategies of each company shaping the aircraft tyre landscape.
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