April 4, 2020
Aircraft Retread Tires

Aircraft Retread Tires Market Supposed with 4.2% CAGR in Forecast Period

The global market for Aircraft retread tires was estimated at US$ 692.3 million in 2018 and is expected to grow with CAGR 4.2 percent over the forecast period.

Market Insights

Growing air traffic and focusing on low operating costs are driving the retread tires market growth of the aircraft. World airports accommodate around 118 million tons of cargo and nearly 8.2 billion passengers in 2017, according to the’ Airports Council International (ACI). Flexibility, eco-friendly, less time consuming, safe and other retread tire benefits to boost the market demand for retread tires for aircraft. Growing need for commercial aircraft and the adoption of defense retread tires will also boost the growth of the market. Strict government regulations for aircraft retread tires also help the growth of the market. According to the Federal Aviation Administration (FAA), the retraining process for aircraft tires should be carried out at certified repair stations and under the guidance of certified technicians. As a result, we project that the global tire retraining market will show significant growth throughout the forecast period.

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The market has been segmented into pre-cure and mold-cure on the basis of the process. Pre-cure is a tire retreading method where the thread of the worn-out tire is removed before a new thread with a new design is wrapped and spliced using a bonding agent known as a cushion rubber. As a result, the process allows tire manufacturers to produce different sizes and strips at the same time. In the mold-cure tire process, the original tray is removed and the raw rubber is wrapped around the tire. Pre-cure offers various advantages such as low investment costs and versatility, which is why the segment dominated the global market in 2017 and is projected to show higher CAGR during the forecast period.

Some of the major companies profiled in the report include Marangoni S.p.A., Michelin Group, Oliver Rubber Company, Qingdao Sentury Tire Co., Ltd., Bridgestone Corporation, Goodyear Tire & Rubber Company, Desser Tire & Rubber Co LLC,  Dunlop Aircraft Tyres Ltd. , Wilkerson Co, Inc. and others.

Due to significant drivers such as rising air traffic and increased emphasis on aircraft modernization programs, the aircraft tire retreading market is expected to grow rapidly in the forecast period. Increasing concern for aviation safety is also another driving factor driving the growth of the market. Backlog in new commercial aircraft deliveries could have a negative impact on the forecast period’s market growth. Nonetheless, lower costs and environmentally friendly procedures in the coming years would offer growth opportunities for aircraft tire retreading market players.

The market is divided into commercial and military based on the aircraft type. Due to factors such as increased passenger traffic and increasing number of aircraft manufactured, the commercial segment dominated the market in 2017. However, the military segment is expected to have a higher CAGR during the review period due to an increase in military expenditure in developing economies.

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