The global aircraft tire market was valued at close to USD 920 million in 2016 and is expected to surpass USD 1160 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global aircraft tire market, under its aerospace portfolio. This market study discusses the primary drivers and key emerging trends and offers an analysis of key sellers like Bridgestone, Dunlop Aircraft Tyres, Goodyear Tire & Rubber Company, and Michelin Aircraft Tyre.
According to Avimanyu Basu, a lead analyst for aerospace research at Technavio, “The growing use of elastomer rubber compound and Kevlar will help in the growth of the global aircraft tire market. The vendors in the market are shifting toward using new-generation materials that can deliver enhanced performance while complying with safety norms. Moreover, the manufacturers in the aircraft tires and tubes market are developing next-generation tires using synthetic fibers that will revolutionize the global market.”
The players are using advanced rubber composition that uses cross-linkable rubber composition or synthetic elastomer rubber composition, and this is gaining popularity in the market. The polymer is the main component that determines the heat and chemical resistance properties of the elastomer rubber compounds. The extensive use of Kevlar, which is a para-aramid synthetic fiber will enable manufacturers to employ lightweight materials in manufacturing aircraft components.
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Evolving smart innovations
The players are introducing intelligent tires in the market to attract more consumers and increase their profitability. These tires comprise a small integrated chip with sensors engraved in the tires, and these sensors can measure parameters such as tire pressure, wear and tear, and damage. The leading vendors are launching products, which employ sensors for evaluating the tire pressure and brake temperature of an aircraft. The implementation of these smart technologies will help with the evolution of the global aircraft tire market.
Emergence of environmentally sustainable tires
The growing concern towards global warming and climate changes is encouraging companies in the aerospace industry to promote the use of environmentally sustainable tires. The aerospace companies and airlines are actively promoting carbon-reducing measures and energy savings to regulate and manage greenhouse gas emission that have negative environmental impacts. The increasing demand for eco-friendly products will encourage the vendors to develop quieter, safer, economical, intelligent, and more environmentally viable models of tires in the global market.
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This market research report comprises an exhaustive analysis and market shares and sizes of the sub-segments and geography. An analysis of the key enterprise, including their market shares, business overview, key financials, etc. is delivered in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities inducing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Aircraft Tire Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aircraft Tire Aftermarket 2016-2020
- Global Specialty Tire Market 2016-2020
- Global Agriculture Tire Market 2016-2020
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