According to a new market report by Research and Markets, the future of the global aerospace tyre industry is looking positive with opportunities in the commercial, regional aircraft, general aviation, helicopter and military aircraft segments. It is expected to grow at a CAGR of 3.9% from 2016 until 2021. The major growth drivers of the market are increase in aircraft delivery and increase in the frequency of flights.
The “Growth Opportunity in Global Aerospace Tire Industry 2016-2021: Trends, Forecast, and Opportunity Analysis” is a comprehensive report that examines the growth opportunities in the global aerospace tyre industry by tyre type, market type, aircraft type, and region. It serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
Radial and bias tyre are the two types of tyres in this market. The report predicts that the demand for radial tyre is likely to experience the highest growth in the forecast period due to more durability and light weight, which increases life span of the aircraft tyre.
Commercial aircraft is expected to remain the largest market within the aerospace tyre industry during forecast period due to increase in deliveries of commercial aircraft and increase in the frequency of flights.
By market type, retrofit market is expected to remain the largest market during forecast period due to increase in the frequency of flights.
North America is expected to remain the largest market during the forecast period due to the increase in aircraft deliveries and rise in the frequency of flights because of increase in passenger traffic. APAC is expected to grow with the highest CAGR during the forecast period due to increasing demand of new aircraft and introduction of new airlines in this region as the passenger traffic is expected to rise in the forecast period which will increase the demand for aircraft tyres.
For market expansion, the report suggests innovation and new product development, where the unique features of tyre can be capitalised. Emerging trends, which have a direct impact on the dynamics of the industry, include lightweight tyres which use light alloy metal bead cores and increasing demand of more durable tyres.
Some of the key topics covered in the report are:
- Global aerospace tire industry size estimation in value ($M) shipment.
- Global aerospace tire industry trend (2010-2015) and forecast (2016-2021) by region and segment.
- Global aerospace tire industry size by various tire types such as bias tire and radial tire and by various aircraft types such as commercial aircraft, helicopter, general aviation, regional aircraft, military aircraft in terms of value shipment.
- Global aerospace tire industry breakdown by key regions such as North America, Europe, Asia Pacific and Rest of World.
- Analysis on growth opportunities in different applications and regions.
- This includes M&A, new product development, competitive landscape, and expansion strategies of tire suppliers in global aerospace tire industry.
- Emerging trends of global aerospace tire industry in various markets
They key companies that the report looked at are Bridgestone, Michelin, Dunlop Aircraft Tyre, and Goodyear Tire and Rubber Co. Most of the aircraft tyre manufactures are expanding their markets to APAC region to capture the growth opportunity in this region. Dunlop Aircraft Tyres opened a new tyre distribution and retreading facility in China.