Aircraft Tyres Market Revenue Predicted to Go Up by 2021 - PMR Report

Aircraft tyres are one of the most highly engineered products having significant complexity which require large number of raw materials pertaining to steel, cord fabric, artificial and natural rubber and other chemicals. Aircraft tyres have cords which serve as the reinforcing materials in the tyre that provide dimensional stability, supporting the aircraft weight, as well as keeping the tyres in shape different road conditions. Aircraft tyres play a vital role in the performance of the aircraft. Various reinforcement constructions are needed for different types of aircrafts based on their applications and load bearing requirements. They have different requirements of tyre fabrics and tyre cords as compared to other modes of transport such as light and heavy commercial vehicles, two wheelers, agricultural vehicles as they work on different road conditions, where each tyre has a different load bearing requirement.

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The global demand for aircraft tyres has been significant due to growth from the aircraft industry, particularly commercial aircrafts, which have witnessed huge surge in demand for advanced and new aircraft, which are largely influenced by certain factors such as network expansion by new airlines as well as entry of new airlines. Other prominent factors such as replacing obsolete aircrafts, rise air passenger traffic, growing demand for fuel efficient aircrafts and healthy economic growth shown by emerging markets has also contributed towards the growth of the aircraft tyres market. Large scale corporations such as Goodyear, Bridgestone Corporation, and Dunlop are significantly involved in the manufacturing of aircraft tyres that are eco-friendly, more intelligent, economical, safer and less noisy. They are consumed in significant quantities for various civil and military applications, where military operation hold huge demand on aircraft tyres where loads can be highly substantial with speed going more than 225 miles per hour.

Large scale companies such as Dunlop have been involved in the industry as a key player which manufactures tyres used in military aircrafts from the well known Vulcan and Spitfire to the modern F-35 Joint Strike Fighter, Heavy military aircraft such as C-130, the Tornado and the Hawk, and the latest A400M. The company serves various segments of the military aviation industry such as marine corps, naval forces and air forces across the world with tyres designed to give maximum operation characteristics in the fluctuating environmental conditions as well. In addition, Dunlop was awarded three year deal supply of aircraft tyres in July 2014 to China’s privately owned airlines for the purpose of expending its footprint in regional airlines. Under the contract, Dunlop would be providing tyres for China Express Airlines Bombardier CRJ900 NextGen aircraft.

In terms of agreements and joint ventures, The Triangle Group in 2012 collaborated with the Harbin Institute of Technology to design and manufacture arcraft tyres. Regionally, developed regions such as North America accounted for the largest market share in the aircraft tyres market, followed by Europe. Emerging regions such as Asia Pacific is likely to exhibit the fastest growth in the market owing to certain factors such as increasing disposable incomes of the individuals leading to rising air travel expenditures, entry of low cost airlines and infrastructure developments in economies such as India, Singapore and China.

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Bridgestone Corporation, Dunlop Aircraft Tyres, Goodyear, Michelin, and The Triangle Group are some of the key players present in the aircraft tyre industry.

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