India aircraft tires market is anticipated to grow significantly over the forecast period (2020-2026). The key aspect that drives the growth of the Indian aircraft tires industry is the increased demand for aircraft and novel routes for destinations across the country in the future. The aviation sector has recorded a significant contribution to the GDP in the last decade. For instance, the aviation sector contributed around $72 billion to GDP in 2019. Besides, the introduction of novel projects undertaken by the aviation ministry of the Indian government, for enhancing the overall aviation industry also supports market growth. For instance, in September 2018, the Civil Aviation Ministry of India announced to build more than 100 new airports in the next 10 to 15 years to meet the growing demand for domestic travel in the country.
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The increased spending and investment in the R&D of the industry also drive the growth of the market in the country. Further, according to the International Air Transport Association (IATA), India is projected to take over the UK for third place in 2025, and it is estimated that for air travel approximately 322 million new additional passengers will surplus to account for a total of 442 million in India, which directly drive the growth of the aircraft which in turn will drive the overall aircraft tires market.
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India Aircraft Tires Market – Segmentation
By Type
- New Tires
- Retreaded Tires
By Construction
- Radial
- Bias
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