Market Overview
Aircraft tire retreading is the process of restoring used retreadable tires by changing the tread or rubber alone. Factors such as the increasing flying miles for aircraft and growing emphasis on passenger and aircraft safety are propelling market growth. The process of aircraft tire retreading offers various benefits such as flexibility, low time, and cost-effectiveness. Additionally, stringent government regulations pertaining to aircraft tire retreading are bolstering market growth. For example, the US Federal Aviation Administration (FAA) regulations state that retreading and repairing aircraft tires should be carried out at certified retread and repair stations under the vigilance of certified and qualified technicians.
The global aircraft tire retreading market based on process has been segmented into pre-cure and mold-cure. The pre-cure segment is expected to be larger during the forecast period of 2018 to 2023 due to the low investment cost and reliability of the process.
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Competitive Landscape
The key players in the global aircraft tire retreading market are Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (US), Michelin (France), Marangoni SpA (Italy), Wilkerson Company, Inc. (US), Apollo Tyres Ltd (India) Aviation Tyre & Treads LLC (US), SAIC (China), Desser Tire & Rubber Co., LLC (US), Oliver Tyre Group (South Africa), and Dunlop Aircraft Tyre Limited (UK).
Market Segmentation
By aircraft type, the global aircraft tire retreading market has been classified as commercial and military. The military segment is likely to register a higher growth rate during the forecast period due to the increasing military expenditure in developing nations and rising adoption of retreaded tires by military organizations in countries such as the US.
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Regional Analysis
Based on region, the global aircraft tire retreading market has been classified as North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global market in 2017; however, the market in Asia-Pacific is expected to register the highest CAGR during the assessment period.
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