LONDON, May 10, 2016 /PRNewswire/ -- "Increasing demand for aircraft is driving the aircraft tires market"
According to the projections in this report, the aircraft tires market is estimated to grow from USD 1.11 billion in 2015 to USD 1.37 billion by 2020, at a CAGR of 4.35% during the forecast period 2015 to 2020. Factors that drive the global aircraft tires market include the increasing demand for aircraft and frequent replacement requirement. Growing passenger traffic has caused the growth in demand for commercial aircraft, which in turn has helped to increase the demand for aircraft tires.
"Radial segment to witness the highest growth during the forecast period"
The key applications considered for the market study are radial and bias, wherein bias segment is estimated to capture the highest market share. Radial segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the need for reduction in operational cost of airline. Radial tires' design involves use of fewer components due to which they are lighter than similarly sized bias ply tires, which has a direct impact on fuel savings.
"The Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to exhibit the highest growth rate in the aircraft tires market during the forecast period 2015 to 2020. This growth in aircraft tires market can be attributed to rising air transport in the Asia-Pacific region. There is a significant rise in air transport owing to liberalization of regulations related to air transport and growing GDP of the region.
Break-up of profile of primary participants for the report has been given below.
- By Company Type - Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
- By Designation – C level – 60%, Director level – 25%, Others – 15%
- By Region – North America - 10%, Europe – 20%, APAC – 40%, RoW – 30%
The major companies profiled in the report include Goodyear (U.S.), Michelin (France), Bridgestone (Japan), and Dunlop Aircraft Tires (U.K.), among others.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the aircraft tires market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on aircraft tires offered by the top players in the global aircraft tires market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft tires market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for aircraft tires across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global aircraft tires market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global aircraft tires market
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