According to a new market report published by Lucintel, the future of the aerospace tire industry looks positive with opportunities in commercial, regional aircraft, general aviation, helicopter and military aircraft segment. The global aerospace tire industry is forecast to grow at a CAGR of 3.9% from 2016 to 2021. The major growth drivers of this market are increase in aircraft delivery and increase in the frequency of flights.
In this market, radial and bias tire are the two types of tires. Lucintel predicts that the demand for radial tire 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 tire.
Within the aerospace tire industry, commercial aircraft is expected to remain the largest market 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 tires.
For market expansion, the report suggests innovation and new product development, where the unique features of tire can be capitalized. Emerging trends, which have a direct impact on the dynamics of the industry, include lightweight tires which use light alloy metal bead cores and increasing demand of more durable tires.
Michelin, Goodyear Tire and Rubber Co., Bridgestone, and Dunlop Aircraft Tire are among the major manufacturers of aerospace tires. Most of the aircraft tire manufactures are expanding their markets to APAC region to capture the growth opportunity in this region. Dunlop Aircraft Tyres opened a new tire distribution and retreading facility in China.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aerospace tire industry by tire type, market type, aircraft type, and region and has come up with a comprehensive research report, “Growth Opportunities in the Global Aerospace Tire Industry 2016-2021:Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global aerospace tire industry by tire type, market type, aircraft type, and region as follows:
By tire type (Value $ Million from 2010 to 2021):
• Radial Tire
• Bias Tire
By market type (Value $ Million from 2010 to 2021):
By aircraft type (Value $ Million from 2010 to 2021):
• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
By region (Value $ Million from 2010 to 2021):
• North America
• Asia Pacific
• Rest of World
This 94-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Aerospace Report, Aerospace Market Research, Strategic Growth Consulting, Commercial Due Diligence Report and Business Strategy Consulting.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 10 key questions:
Q.1: What are some of the potential, high-growth opportunities for global aerospace tire industry by tire type, market type, aircraft type and region?
Q. 2. Which product /segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4: What are the key factors affecting market dynamics? What are the drivers and challenges in this market?
Q.5: What are the business risks and threats of this market?
Q.6: What are emerging trends in this market and reasons behind them?
Q.7: What are some of the changing demands of customers in the market?
Q.8: What are the new developments in the market? Which companies are leading these developments?
Q.9: Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10: How is the competitive rivalry and threat of substitution in this market?