Aircraft tyre market to touch $1.9 billion by 2026-end: report

Aircraft tyre market to touch $1.9 billion by 2026-end: report

According to a report published by Future Market Insights, the global aircraft tyre market is poised to expand at a moderate CAGR of four percent during 2017-2026. The report further reveals that by the end of 2026, nearly $1.9 billion worth of aircraft tyres will be sold in the global market. Changing production techniques and influence of new technologies have transformed the manufacturing landscape of global aircraft tyre market. Landing operations continue to remain critical for airline companies, which has propelled the demand for high-quality aircraft tyres that can avoid the risks of tyre popping. Companies manufacturing aircraft tyres are reinforcing hybrid composite materials into raw rubber to create indestructible materials.

In 2017, bias ply aircraft tyres worth over $ 838 million have been sold in the global market. The advantage of bias ply in terms of stability, ground control, and surface resistance has driven their demand in the global aircraft tyre market. The report further reveals that the majority of aircraft tyres will be sold for their use in narrowbody aircraft. By the end of 2026, aircraft tyres equipped to narrowbody aircraft are estimated to bring in more $950 million in terms of revenues, the report said.

The report has further revealed that aftermarket sales of aircraft tyres will bring in the largest chunk of revenues in the global aircraft tyre market. By the end of the forecast period, global revenues procured from the aftermarket sales of aircraft tyres are expected to touch $One billion marks. The report also reveals that OEMs will represent a fast-growing sales channel in the global aircraft tyre market, registering a CAGR of 4.6 percent over the forecast period. Key players in the market are Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, and Polymer Enterprises, Inc. These companies are expected to remain active in the overall expansion of the global aircraft tyre market through 2026, the Future Market Insights report said.

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