The "Global Commercial Aviation Aircraft Tires Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global commercial aviation aircraft tires market is evaluated at US$1.459 billion for the year 2019 growing at a CAGR of 2.64% reaching the market size of US$1.706 billion by the year 2025.
An aircraft tire is a special kind of tire specially designed for different types of aircraft ranging from military jets, private jets, cargo planes, and commercial jets among others. These tires are made of rubber are designed in such a manner that offers high stability in crosswind conditions and also to channel away from the water primarily to prevent hydroplaning and also to enhance the braking effect.
The primary factor driving the commercial aviation aircraft tires market growth includes the growing aviation industry globally and the growing investments by major airline companies in the procurement of new generation aircraft. Air travel globally is growing which may be a fact due to the growing tourism sector, growing disposable income, growth in business travel and medical tourism, and others. The market is also poised to show significant growth on account of the presence of stricter regulations regarding the maintenance and operations of aircraft tires by several government organizations across the different countries of the world. However, the outbreak of COVID-19 is expected to hamper the market growth to some extent especially during the short run.
Growing air passenger traffic
The primary factor that is supplementing the market growth for commercial aviation aircraft tires is the constantly growing air passenger traffic around the globe. This, in turn, has further led to an upsurge in the frequency of flights from one destination to another. Also, the growing participation of airline companies with an aim to the expansion of their flight routes to new countries is also expected to increase air travel. All such factors have led to an increased frequency of tire replacement owing to the fact that the lifespan of these tires is limited to a number of landings.
Outbreak of COVID-19
The recent outbreak of the novel coronavirus disease is anticipated to be one of the major factors that is expected to hamper the market growth to some extent owing to the fact that the outbreak led to a suspension as well as a slow down of the activities across the commercial aviation sector globally. Thus, the frequency in air travel decreased significantly since the outbreak has been declared as a pandemic by the World Health Organization which is difficult to contain even. Several government measures such as nationwide lockdowns led to a ban in the traveling activities in many parts of the world. Also, the trade restrictions further led to a ban on exports which also led to a decline in the logistics industry.
Due to the outbreak, there has been a dramatic decline in the active fleet by the airlines further shows the negative impact of the outbreak on the commercial aviation aircraft tires market. The graph above clearly represents the sharp decline in the active fleet after before and after the outbreak. Since the duration of the pandemic is still unclear, the commercial aviation sector is expected to slowly recover as the outlook looks positive after a short period of eight to ten months.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Commercial Aviation Aircraft Tires Market Analysis, by Type
6. Commercial Aviation Aircraft Tires Market Analysis, by Aircraft Type
6.3. Wide Body
7. Commercial Aviation Aircraft Tires Market Analysis, by Position
7.2. Nose Landing Gear
7.3. Main Landing Gear
8. Commercial Aviation Aircraft Tires Market Analysis, by End-User
9. Commercial Aviation Aircraft Tires Market Analysis, by Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rbj45l
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