Asia-Pacific aircraft tires market is projected to grow at a modest CAGR during the forecast period (2020-2026). The major aspect that drives the growth of the market includes the well-established aviation sector in the region. There has also been an increased demand for air travel across the emerging economies of the region such as China and India. According to the IATA, it is estimated that for air travel, around 817 million new passengers will be added to account for a total of 1.3 billion by 2035 alone in China. Hence, to cater to such an increased air passenger, there is likely to be increased demand for sufficient aircraft which in turn will drive the growth of the aircraft tires market over the forecast period.
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Asia-Pacific aircraft tires market is segmented on construction, type, aircraft type, and distribution channel. Based on the construction, the market is segmented as radial and bias-ply tires. By type, the market is bifurcated into new tires and retreaded tires. Based on the aircraft type, the market is segmented as commercial aircraft, military aircraft, and others. The commercial aircrafts segment is further segmented as wide-body aircraft, narrow-body aircraft, and regional transport aircraft. Based on the distribution channel, the market is segmented as aftermarket and OEM.
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Based on the demographic viewpoint, the Asia-Pacific aircraft tires market is segmented into China, India, Japan, ASEAN, South Korea, and the Rest of Asia-Pacific. China is likely to witness substantial growth in the market over the forecast period.
Michelin Group, Bridgestone Corp., Dunlop Aircraft Tyres Ltd., Goodyear Tire & Rubber Co., Aviation Tires & Treads LLC, Qingdao Sentury Tire Co. Ltd., and Specialty Tires of America Inc. among others are some of the prominent players functioning in the Asia-Pacific Aircraft Tires market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market.
Market Segmentation
Asia Pacific Aircraft Tires Market by Construction
- Radial
- Bias
Asia Pacific Aircraft Tires Market by Type
- New Tires
- Retreaded Tires
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