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Showing posts with the label global aircraft tire market

Global Aircraft Tire Market Projected to grow at a CAGR of 4.82% over the Forecast Period 2016-2024

Globally the rise in number of commercial & cargo aircraft coupled with the technological growth factor in the aircraft tires such as electronic pressure sensors are expected to drive the growth of global aircraft tire market . According to Goldstein Research, global aircraft tire market size is expected to reach USD 3.1 billion by 2024 from USD 1.8 billion in 2016, growing at a CAGR of 4.82% during the forecast period 2016-2024. Global aircraft tire market segmentation has been done on the basis of aircraft type, product type, end user and geography. Globally the market players are involved into investments, mergers and acquisitions to establish new manufacturing plants and expand their business, majorly in the developing regions. Geographically, global aircraft tire industry is dominated by North America with a market share of 32.8%. The United States accounts for highest number of aircrafts, nearly 13,500 which tends to drive the aircraft tire market. Moreover, Asia Pacific r...