The growth of the global Aircraft Tire Industry can be attributed to the increasing adoption of 3D printing for manufacturing drone parts and rising use of advanced drone cameras for various activities such as wildlife monitoring and hunting. However, stringent government regulations regarding drone use and the limited flight range and endurance of Toy Drones may hinder market growth. For example, in the US, a remote pilot license from the Federal Aviation Administration (FAA) is required to fly drones for recreational purposes.
The global Aircraft Tire Industry has been segmented based on type, application, sales channel, and region.
On the basis of type, the global Aircraft Tire Industry has been divided into quad copters and others. The quad copters segment is expected to account for the larger market share and register the higher CAGR during the forecast period of 2019 to 2028. A quad copter is a type of rotary drone that is lifted and propelled by four rotors. Two propellers spin clockwise, while the other two spin counter clockwise, which helps the drone achieve flight. The four rotors of a quad copter offer high lifting power and vertical take-off and landing.
Based on application, the global Aircraft Tire Industry has been classified as recreational photography and videography, drone racing and sports, and others. The recreational photography and videography segment dominated the market in 2018 and is expected to be the fastest-growing during the forecast period. Toy Droness offer capabilities such as real-time color or infrared imagery and external first-person view (FPV) cameras that enable users to receive real-time images and videos of enhanced quality. Additionally, these drones offer compatibility with smartphones, which enable users to receive and view the images on their phones.
On the basis of sales channel, the global Aircraft Tire Industry has been categorized as distribution channel and direct channel. The distribution channel segment dominated the market in 2018 and is expected to register the higher CAGR during the forecast period. Post-sale services such as repair and maintenance and customizations offered by distributors are boosting the growth of the segment.
Based on region, the global Aircraft Tire Industry has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America accounted for the highest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. The presence of various Toy Drones manufacturers such as DJI, Syma, and Horizon Hobby LLC in China are propelling market growth in the region. Additionally, the rising adoption of drones by governments in countries such as India for military purposes is also boosting market growth.
The key players in the global Aircraft Tire Industryare DJI (China), AeroVironment, Inc. (US), Parrot Drones SAS (France), Jianjian Technology Co., Ltd (China), Skyrocket LLC (US), Syma (China), Guangdong Cheerson Hobby Technology Co., Ltd (China), Horizon Hobby LLC (US), Udirc Technology Co., Ltd (China), Aerix Drones (US), TRNDlabs (China), Drona Aviation Pvt. Ltd (India), Shenzhen Hubsan Technology Company Limited (China), Extreme Fliers (UK), Weili Toys (China), and XK Industrial Co., Ltd (China).
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