Global Aircraft Tire Aftermarket 2016-2020

Overview of the global aircraft tire aftermarket

The global aircraft tire vendors manufacture and distribute aircraft tires to two segments ­­– original equipment manufacturers (OEMs) and aftermarket. The OEMs segment includes aircraft manufacturers that purchase tires for newly built aircraft, whereas, the aftermarket segment caters to fleet owners and maintenance companies that buy tires to replace the old, worn-out tires from aircraft that are already in operation. With the sharp increase in disposable income worldwide, the average consumer’s attitude toward holiday and tourism has changed drastically. A strong economy and high disposable income have brought about significant changes in lifestyle choices with increasing number of people opting for air travel, leading to a steep rise in passenger traffic. To accommodate the increasing passenger traffic, the frequency of flights has also increased exponentially. Consequently, the increase in air traffic has accelerated the rate at which tires wear down, thereby creating more replacement demand for aircraft tires. Extensive market research carried out by analysts at Technavio has shown that the global aircraft tire aftermarket will grow at a steady CAGR of more than 5% by 2020. 

The rising demand for intelligent tires is likely to have a significant impact on the aftermarket over the forecast period. Intelligent tires contain a small integrated chip with sensors engraved in tires. These sensors can measure factors like tire pressure, wear and tear, and damage. For instance, companies like Continental are selling tires that have integrated sensors with monitors that automatically track air pressure. This recent shift in demand for intelligent tires will spur the growth of this during the forecast period.

Geographical segmentation and analysis of the global aircraft tire aftermarket

• APAC
• Europe
• North America
• ROW