In order to ensure dimensional stability, support the weight of the aircraft, and retain the tire's shape under fluctuating road conditions, airplane tires are reinforced with cables. The commercial airline industry, in particular, has expanded recently. Because of heightened globalization and rapid economic expansion, more people are taking flights. According to the World Bank, the global GDP expanded by 3.0% in 2017 as opposed to 2.4% in 2016.
One of the major factors affecting growth of the Aircraft Tire Market size is growth in the aviation sector. Aircrafts are prominently used in commercial, industrial, and defence sectors. One the major factors affecting the aircraft market is significant increase in the air passengers.
Prominent Players in the Aircraft Tire Industry:
1. Goodyear
Goodyear was founded in 1998 and its headquarter in Akron, Ohio, United States.The company operates in 23 countries.
2. Michelin
Michelin , was launch in 1889. And its headquarter - Clermont-Ferrand. It operate over 170 country Michelin launches Air X Sky Light, a major breakthrough innovation on the aircraft tire market.
3. Bridgestone.
Bridgestone was launch in 1931 and it’s headquarter located in Chuo City, Tokyo, Japan.it operate over 150 country .In2020 Bridgestone Corporation (Bridgestone) announced it has completed the purchase of the iTrack Solutions Business from UK-based Transense.
4. Dunlop Aircraft Tires
Dunlop Aircraft Tires was launch in 1910 and it’s headquarter located in Birmingham, England.it operate over 3 country In 2018 Dunlop Aircraft Tyres represents Liberty Hall's first portfolio company focused on providing aftermarket products and services to the global
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*Definition- Aircraft tire is highly engineered and complex parts of the aircraft. The raw materials involved in manufacturing of aircraft tire include steel, cord fabric, natural or artificial rubber, and other chemicals.
