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Aircraft Tires Market Size
- Report ID: GMI4618
- Published Date: Feb 2022
- Report Format: PDF
Aircraft Tires Market Size
Aircraft Tires Market size was valued at around USD 2,593.6 million in 2021 and will exhibit a growth rate of over 3.2% CAGR from 2022 to 2028 owing to the increased demand for air travel. and the growing aircraft production across the world. By 2028, aircraft tires industry size may reach 3,304.7 thousand units at an anticipated CAGR of 2.4% in terms of volume.
The proliferation of low-cost carriers in emerging economies is estimated to increase the penetration of narrow-body aircraft tires over the coming years. The increased demand for air travel stimulates the demand for MRO services of aircraft tires to ensure safe landings and take-offs. The fluctuating raw material prices and stringent regulatory norms can restrain the aircraft tires market growth.
The rising air travel demand has increased the average flight hours of aircraft around the globe. Aircraft tires are susceptible to very shorter landing cycles and require frequent maintenance & servicing throughout their lifecycle. For instance, the service life of main landing gear aircraft tires is around 150 to 200 cycles while nose tires have a little extra life than the main aircraft tires. Wear and tear or any other tire-related issues occur during a tire’s lifetime.
This can be attributed to factors including rough landing, environmental conditions in which the tires are used, the weight of the aircraft, landing speed, runway conditions, etc. A single tire can be retreaded up to seven times, depending on the condition of the tire.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Aircraft Tires Market Size in 2021: | 2,593.6 Million (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 3.2% |
| 2028 Value Projection: | 3,215.5 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 275 |
| Tables, Charts & Figures: | 475 |
| Segments covered: | Construction, Product, Aircraft, Platform, End-user , Position, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Rubber is the primary raw material used to manufacture tires. The cost of both natural and synthetic rubbers is constantly fluctuating. Thailand caters to around 37% of the global demand for natural rubber. The increased global demand followed by supply shortages has led to increased rubber prices. Synthetic rubber is derived from petroleum products; hence, synthetic rubber prices are largely affected by crude oil prices.
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Aircraft Tires Market Scope
