Growing Commercial Aviation Worldwide to Boost the Demand for Aircraft Retread Tires

The aircraft retread tires market worldwide is projected to rise with a CAGR of 4.2% during the estimated period from 2023 to 2030, starting from US$ 781.9 Mn in 2021. The growth of commercial aviation worldwide is the major factor driving the aircraft retread tires market. Focus on less operating cost of the aircraft and rising international tourism are the other major factors for market growth. Eco-friendly, safe & secure, low cost and other benefits of retread tires will boost the demand for the market. Increasing penetration of retread tires in the defense sector will also surge the demand for aircraft retread tires market. Subsequently, the demand for aircraft retread tires will be strong during the forecast period. 

Defense Segment to be the Fastest Growing Segment

The global aircraft retread tires market by aircraft type is segmented into commercial and defense. In 2021, the commercial segment led the global aircraft retread tires market. The commercial segment contributed over 60% of the global revenue share in the same year. The segment is primarily driven by growing passenger traffic and expansion at new routes by airlines. On the other flip of the coin, the defense segment to be the fastest growing segment due to the rising adoption of retread tires in the defense aircraft. Increased government investments for the defense sector in the Asia Pacific region will be another major factor driving the growth for the defense segment. Thus, the demand for aircraft retread tires will be more in the defense segment.

Asia Pacific to be the Fastest Growing during the Forecast Period

In 2021, North America was the largest value contributor in the global aircraft retread tires market followed by Asia Pacific. North America contributed to around 60% of the global revenue share in the same year. North America has its dominance due to the extensive use of retread tires in the aircraft industry. On the other hand, we presume that Asia Pacific is set to register the fastest growth during the forecast period owing to rising air traffic and increased government investments in the defense sector. Emerging economies such as China and India will be the major contributor in the Asia Pacific aircraft retread tires market.

Some of the prominent players operating in the aircraft retread tires market include Bridgestone Corporation, Goodyear Tire & Rubber Company, Desser Tire & Rubber Co LLC, Marangoni S.p.A., Michelin Group, Oliver Rubber Company, Qingdao Sentury Tire Co., Ltd., Dunlop Aircraft Tyres Ltd., Wilkerson Co, Inc., and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aircraft Retread Tires market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Aircraft Retread Tires market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Aircraft Retread Tires market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Aircraft Retread Tires market?
• Which is the largest regional market for Aircraft Retread Tires market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Aircraft Retread Tires market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Aircraft Retread Tires market worldwide?