PR Newswire
20 Sep 2022, 17:12 GMT+10
Growth potential in commercial flights will propel the demand for aircraft tires, with sustainability as a key investment area among vendors, says Frost & Sullivan
SAN ANTONIO, Sept. 20, 2022 /PRNewswire/ -- As the aviation industry recovers after a period of flight restrictions, optimism surrounds the commercial aircraft tire market. The rise in passenger traffic and the potential increase in future aircraft deliveries are expediting the sector's growth, according to Frost & Sullivan's recent analysis, Commercial Aircraft Tire Industry Growth Opportunities. The market is expected to reach $8.84 billion by 2032 from $2.31 billion in 2021, registering a compound annual growth rate (CAGR) of 13%.
For further information on this analysis, please click here.
"The increasing demand for aircraft tires and manufacturers' needs to meet sustainable compliance encourages them to invest in identifying new materials for manufacturing," said Abhilash Abraham, Aerospace & Defense Research Analyst at Frost & Sullivan. "Further, manufacturers are investing in automation and artificial intelligence (AI) technologies and leveraging them to digitize their processes and enable sustainability initiatives."
Abraham added: "Narrow-body aircraft will be the main contributor driving the aircraft tire market as key aircraft manufacturers-Boeing and Airbus-are focusing on this segment to enhance their commercial aircraft revenues. Similarly, the impressive market participation of regional jets and turboprops in total commercial aircraft fleets will further boost the demand for aircraft tires worldwide."
To reap the benefits of the growing global commercial aircraft tire industry, market participants should:
Commercial Aircraft Tire Industry Growth Opportunities is the latest addition to Frost & Sullivan's Aerospace & Defense research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion
Commercial Aircraft Tire Industry Growth Opportunities
PD6D
Contact:
Maria Celeste Bailo
Corporate Communications
SOURCE Frost & Sullivan
Get a daily dose of Sydney Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sydney Sun.
More InformationSEATTLE, Washington: Boeing has revamped its employee incentive plan, tying annual bonuses for more than 100,000 workers to overall...
WINNIPEG, Manitoba: Farmers in the U.S. and Canada are bracing for soaring fertilizer prices as trade tensions escalate between the...
NEW YORK, New York - A slightly lower-than-expected CPI reading for February helped U.S. stocks to stabilize after some relentless...
NEW YORK CITY, New York: New York's office market is showing signs of a comeback as major investors, including Blackstone, scout for...
NICOSIA, Cyprus: Cyprus' ancient Commandaria wine, praised for its rich heritage dating back nearly 3,000 years, is making a comeback...
SAN FRANCISCO, California: Shares of DoorDash, Williams-Sonoma, Expand Energy, and TKO Group surged in extended trading on March 7...
CHICAGO/WASHINGTON, D.C.: Farmers and food groups across the U.S. are laying off workers, stopping investments, and struggling to get...
SIOUX FALLS, South Dakota: A new South Dakota law banning the use of eminent domain for carbon capture pipelines has cast doubt on...
WASHINGTON, D.C.: Officials working on diversity and inclusion programs at the U.S. Office of the Director of National Intelligence...
WASHINGTON, D.C.: The U.S. Centers for Disease Control and Prevention (CDC) is planning an extensive study on possible links between...
WASHINGTON, D.C.: The U.S. weather agency, NOAA, plans to lay off 1,029 workers following 1,300 job cuts earlier this year. This...
SANTA FE: New Mexico: A New Mexico resident who died recently tested positive for measles, marking the state's first measles-related...