Aircraft Tire Market Is Expected To Gain Significant Traction as Bridgestone Corporation Partnered With Japan Airlines (JAL) To Improve Aircraft Tire Management and Maintenance

 

An aircraft tire or aircraft wheel is specifically designed to withstand extreme loads for long durations. As the weight of an aircraft must be evenly spread out over a larger area, the number of tires used on an aircraft also increases with the overall weight of the plane. Most aircraft are fitted with two different types of tires, radial, and drive. The radial tire is designed to meet the most demanding conditions, which mainly deal with icing conditions during takeoff and landings

Increasing demand for air travel worldwide is expected to drive growth of the global aircraft tire market. According to the International Civil Aviation Organization (ICAO), in 2018, around 4.3 billion passengers were carried on scheduled service, increasing by 6.4% from 2017. Furthermore, according to the Bureau of Transportation Statistics, in 2018, the U.S. airlines and foreign airlines in the U.S. carried over 1.0 billion scheduled passengers (domestic and international), which is 4.8% more than its previous record of 965.4 million in 2017. With rising disposable incomes worldwide, people are increasingly preferring air travel over other modes of transportation. Thus, these factors are expected to drive growth of the global aircraft tire market. Furthermore, growing production of narrow-body aircraft is expected to propel the global aircraft tire market growth in the near future.

Increasing raw material prices coupled with stringent regulatory policies are expected to hamper the global aircraft tire market growth in the near future. However, increasing demand for aircraft tires from emerging markets can present lucrative growth opportunities for market players in the global aircraft tire market. Among regions, North America is expected to witness significant growth in the global aircraft tire market. This is owing to the presence of major aircraft manufacturers such as The Being Company in the region. Furthermore, Asia Pacific is expected to exhibit a robust growth rate, owing to increasing air passenger traffic in India and China. According to the International Air Transport Association (IATA), by 2035, around 1.8 billion additional passengers will be transported annually from and within the Asia Pacific. The total number of passengers commuting is expected to reach 3.1 billion annually.

Key players involved in the global aircraft tire market are Bridgestone Corp, Aviation Tires & Treads LLC, Cie Gnrl des Etblsmnts Michelin SCA, Qingdao Sentury Tire Co. Ltd, Goodyear Tire & Rubber Co., Desser Holdings LLC, Specialty Tires of America Inc., Petlas Tire Corporation, Dunlop Aircraft Tyres Limited, and Wilkerson Company Inc.

For instance, in June 2020, Bridgestone Corporation, a Japan-based tire, and rubber company partnered with Japan Airlines (JAL) to improve aircraft tire management and maintenance.