The global aircraft tire vendors manufacture and distribute aircraft tires to two segments – original equipment manufacturers (OEMs) and aftermarket. The OEMs segment includes aircraft manufacturers that purchase tires for newly built aircraft, whereas, the aftermarket segment caters to fleet owners and maintenance companies that buy tires to replace the old, worn-out tires from aircraft that are already in operation. With the sharp increase in disposable income worldwide, the average consumer’s attitude toward holiday and tourism has changed drastically. A strong economy and high disposable income have brought about significant changes in lifestyle choices with increasing number of people opting for air travel, leading to a steep rise in passenger traffic. To accommodate the increasing passenger traffic, the frequency of flights has also increased exponentially. Consequently, the increase in air traffic has accelerated the rate at which tires wear down, thereby creating more replacement demand for aircraft tires. Extensive market research carried out by analysts at Technavio has shown that the global aircraft tire aftermarket will grow at a steady CAGR of more than 5% by 2020.
The rising demand for intelligent tires is likely to have a significant impact on the aftermarket over the forecast period. Intelligent tires contain a small integrated chip with sensors engraved in tires. These sensors can measure factors like tire pressure, wear and tear, and damage. For instance, companies like Continental are selling tires that have integrated sensors with monitors that automatically track air pressure. This recent shift in demand for intelligent tires will spur the growth of this during the forecast period.
Geographical segmentation and analysis of the global aircraft tire aftermarket
In this market research report, the analysts have estimated North America to be the largest aftermarket for aircraft tires and is estimated to account more than 35% by 2020. Factors such as the presence of some of the busiest airports in the US and large aircraft manufacturers like Boeing in the region is expected to propel the aircraft tire aftermarket. Moreover, a large installed fleet is nearing its economic retirement in the US which will bolster the growth of the global aircraft tire aftermarket until the end of 2020.
Competitive landscape and key vendors
The global aircraft tire aftermarket is highly organized and is dominated by three major suppliers. The major factors that influence the market share and position of leading vendors in the market are product quality, pricing strategies, product portfolio, and research and development. With many international tire vendors expanding their business into different regions, the possibility of new players entering the market has increased.
Top vendors in the market are -
Other independent dealers analyzed in this market research are Aircraft Spruce and Specialty, Avioparts, Chief Aircraft, Desser Tire and Rubber, KADEX Aero Supply, and Specialty Tires of America.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global aircraft tire aftermarket?
What are the key market trends impacting the growth of the global aircraft tire aftermarket?
What are the challenges to market growth?
Who are the key vendors in the global aircraft tire aftermarket?
What are the market opportunities and threats faced by the vendors in the global aircraft tire aftermarket?
Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global aircraft tire aftermarket?
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