Global Aircraft Tires Market

1
Global Aircraft Tires Market valued at USD 1.1
billion in 2019, is estimated to reach USD 1.48
billion by 2026, at a CAGR of 4.3 , over the
forecast period.
2
Aircraft tires play an essential role in the
aircraft presentation and are designed to carry
heavy loads at high speeds in the minimum and
lightest configuration possible. An aircraft
tire is a cultured, computer-designed, and
multi-constituent product. Aircraft tires are
produced using numerous materials. However, the
primary raw constituents include rubber, steel,
fabric, and chemicals. Aircraft tire tread
patterns are designed to allow stability in high
crosswind circumstances to improve traction and
grip and channel water away to avoid
hydroplaning. Proper assortment and maintenance
of tires significantly increase the safety and
performance of an aircraft.  The growing demand
for commercial aviation and military aircraft
drives the development of the aircraft tires
market. Besides, the increasing number of global
air passengers due to surging disposable income
and expansion in business operations are likely
to induce growth in the coming years. On the
other hand, strict regulations and an incomplete
number of producers confine market development.
3

• Moreover, technical advancements in the
  manufacturing process provide a profitable
  opportunity for the growth of the market. The
  procurement of newer generation aircraft in the
  military and commercial sectors is one of the
  major causes of the growth of the aircraft tires
  market. Several airlines are under the process of
  expanding operations in the new destinations and
  travel routes with the intent of growing air
  travel. The research suggests that the commercial
  section would register the highest CAGR during
  the period under consideration. However, the
  long-term agreements with the existing top
  players in the market continue to be an entry
  barrier for new players in the market.
  Asia-Pacific Region is expected to witness the
  highest growth during the prediction period.
  Airlines in this region are actively involved in
  acquiring newer generation aircraft. The rising
  tourism in countries like South Korea, Malaysia,
  China, India, Indonesia, Singapore, Thailand,
  Australia, and Vietnam has expanded the
  passengers' air transfers. The aviation market in
  the Asia-Pacific region is foreseen to move ahead
  of the North American aviation market in the next
  few years.
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