Lucintel Report Indicates Moderate Growth for Global Aerospace Tire Industry Over the Next Seven Years
Growth Opportunity in Global Aerospace Tire Industry 2013-2020: Trends, Forecast, and Opportunity Analysis
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IRVING, Texas, Jan. 28, 2014 /PRNewswire-iReach/ -- The global aerospace tire industry is expected to witness moderate growth and reach an estimated $1,135.4 million by 2020. Rise in delivery of commercial, regional, and general aircraft are expected to drive demand for tires for new aircraft as well as replacement industry.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on the aerospace tire market and presents its findings in "Growth Opportunity in Global Aerospace Tire Industry 2013-2020: Trends, Forecast, and Opportunity Analysis ". The global aerospace tire industry is a consolidated industry. A combination of factors such as number of airlines and air traffic, delivery of new aircraft, active fleets, environmental issues, and government regulations are witnessed to impact the industry dynamics.
The aerospace market report describes the key drivers of the industry. Commercial airline passenger traffic is expected to grow over the next 20 years, resulting in growth of landing and takeoff planes which in turn will increase demand for aircraft tires due to wear and tear. The number of passenger travelling is expected to increase to 1.3 billion by 2030.
Factors such as strong and steady air traffic boost the aftermarket business. The industry received a large number of aircraft orders. A huge number of backlog acts as a cushion between demand and current production rates which can buffer any projected softening in demand. New low-cost carriers and demand for short-haul flying have stimulated a significant boost in narrow body planes. In the last eight years, narrow body capacity has dramatically increased and is likely to double again in the near future.
The technology under development is a positive factor for continued growth of aerospace tire and helps to capture industry share from the competitors. Alignment of suppliers through collaborative activities or other support of those who are pursuing such developments should pay dividends in the long run. Any future mergers, acquisitions, and consolidation activities among aerospace tire product producers necessitate a strategy for all participants who must compete and/or deal with more highly leveraged and influential entities in this industry.
This report will benefit the senior executives who want to invest in global aerospace tire industry, and will help them to find the huge opportunities prevailing in the aerospace tire industry. This will provide the company managers to get a detailed knowledge of the aerospace tire industry.
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