Global Aircraft Tires Market Size, Share & Growth Analysis Report, 2024-2032
Global Aircraft Tires Market Size, Share & Growth Analysis Report, 2024-2032

Aircraft Tires Market Share, Size, Trends, Industry Analysis Report, By Type (Radial-Ply Tires and Bias-Ply Tires); By Aircraft Type; By Platform; By End-User; By Region; Segment Forecast, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 116
  • Format: PDF
  • Report ID: PM3198
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global aircraft tires market was valued at USD 2.92 billion in 2023 and is expected to grow at a CAGR of 5.7% during the forecast period. The rising proliferation of various types of low-cost carriers especially in emerging economies such as China, India, South Korea, and Indonesia and continuously growing demand for MRO services of aircraft tires to ensure the safe landings and take-offs of aircrafts are among the key factors influencing the global market growth.

Aircraft Tires Market Size

Know more about this report: Request for sample pages

In addition, there has been a significantly increasing demand for newer generation of aircraft in military and commercial sectors along with the extensive rise on R&D activities of innovated aircrafts tires that offers high convenient and comfort to the travelers, are also expected to boost the growth of the aircraft tires market over the next coming years.

For instance, in April 2022, Goodyear Tires, announced to produce military aircraft tires containing rubber, that is made up of dandelions. The company is working with The US Department of Defense to develop tires from the natural rubber.

Moreover, exponentially growing technologically advanced infrastructure and ongoing research projects in association with various international universities and numerous prominent vendors all over the world, for the development and enhancement of aircraft tires, while addressing the safety issues associated with them, will likely to create lucrative growth opportunities for the market.

The outbreak of the COVID-19 pandemic has significantly impacted the growth of the aircraft tires market. The rapid emergence of coronavirus around the world led to a decline in the overall production capacities of many aircraft tire manufacturers due to the shortage in the supply of various essential components and parts. Moreover, imposed lockdowns and restrictions on movement imposed by countries, has also resulted in significant decline in the air traffic and negatively impacted the demand for new aircrafts during the pandemic.

Aircraft Tires Market

Know more about this report: Request for sample pages

Industry Dynamics

Growth Drivers
Robust presence of the large commercial & military aviation fleets worldwide including narrow body aircraft, wide body aircraft, & regional transport aircraft coupled with the rising numbers of reputed airline groups re-shaping the airline sector, are key factors expected to boost the growth of the market during the anticipated period.

In addition, increasing use of urban air mobility and highly automated aircraft for carrying both people and freight at very low altitudes and growing prevalence for developing technology including vertical take-off and landing aircraft, e-VTOL aircraft, conventional helicopters, and unmanned aerial vehicles are fueling the demand and growth of the market in the near future.  

Report Segmentation

The market is primarily segmented based on type, aircraft type, platform, end-user, and region.

By Type

By Aircraft Type

By Platform

By End-User

By Region

  • Radial-Ply Tires
  • Bias-Ply Tires
  • Commercial Aviation
  • Military Aviation
  • Business and General Aviation
  • Fixed-Wing Aircraft
  • Rotary-Wing Aircraft
  • OEMs
  • Replacement
  • Retreading
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Know more about this report: Request for sample pages

Radial-ply tires segment accounted for largest market share in 2022

The growth of the segment can be mainly attributed to its superior advantages and higher technical advancements in terms of light-weight and durability, enhanced traction, and fuel-efficiency with reduced carbon emissions.

The bias-ply tires segment is also likely to gain a significant growth rate over the coming years, which is highly attributable to its exceptional load capacity and various other beneficial features including high-speed, stability, and heat sensitive. Moreover, these types of tires are widely utilized in military aircrafts across the globe owing to its hard-casing properties, which is also fueling the segment market growth.

Commercial aviation segment is expected to grow fastest over the forecast period

The commercial aviation segment is expected to grow at highest CAGR during the forecast period, on account of increasing number of commercial aircraft deliveries across several countries because of the growing air passenger traffic worldwide. With the higher activities of commercial aircrafts, the chances of wear and tears of aircraft tires re very higher, thereby fueling the demand for aftermarket tires exponentially. In addition, many global airlines are implementing on making partnership with aircraft tire manufacturers to tackle the continuously growing tire replacement demand, which is likely to create new growth opportunities for the segment market.

For instance, a report published by Airbus, the company has received a total of 647 aircraft, with a significant change form the 133 aircrafts ordered in the same period of previous year. There were 437 aircrafts already delivered till September 2022, compared to 424 in first 9 months of 2021.

Fixed-wing segment is expected to hold significant market share

The fixed-wing segment is projected to lead the aircraft tires market with a healthy growth rate over the study period. The sudden increase in the international air travel and continuously growing air passenger traffic across both developed and developing nations are the major factors driving the segment market growth in the coming years.

Moreover, the growing awareness regarding the capabilities of fixed-wing aircrafts to conduct flight operations at very high altitudes and also long distances, without any need for the continuous or frequent refueling, which is very crucial and essential in conducting long-hauls aircraft operations, thereby fueling the demand and growth of the segment market.

OEM segment is expected to witness highest growth

The segment growth is mainly accelerated by an extensive rise in the demand for UAVs across various applications including city area monitoring, medicine delivery, parcel deliveries, and border surveillance, among others. In addition, the increase in the composite product penetration and high prevalence across the globe, to improve and enhance the airplane operation with the help of various innovative components design, is further likely to have a positive impact on the segment market growth.

North America region dominated the global market in 2022

The North America region dominated in 2022 and is expected to maintain its dominance throughout the anticipated period, that is mainly driven by exponentially growing spending on aerospace and aviation sector especially in countries like US and Canada, where governments are very focused and aware towards its passenger safety and convenient. With the robust presence of large global airlines and aircraft tires manufacturers in the region, who are highly implementing on development of alternative sources of natural rubber, that is likely to reduce their dependency on exports and will create lucrative growth opportunities for the market in the near future.

Asia Pacific region is expected to emerge fastest and likely to account for substantial market share over the forecast period. Major APAC countries like China, Japan, and India are witnessing a significant rise in the passenger traffic and also escalating the number of new aircraft orders along with the growing focus on making aircraft tires more durable and capable to withstand longer airplane takeoff, thus such developments will boost the regional market.

Competitive Insight

Some of the major players operating in the global market include Bridgestone Corporation, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tires Company Limited, Wilkerson Aircraft Tires, Petlas Tire Corporation, Aviation Tires and Treads LLC, Specialty Tires of America, The Goodyear Tire & Rubber Company, Desser Tire & Rubber Co. LLC., and Michelin.

Recent Developments

  • In July 2022, Bridgestone Corporation, announced to consolidate its manufacturing of aircraft tires in the APAC region. To optimize the manufacturing of aircraft tires in Asian countries, where demand is much higher, the company is consolidating at BAA into its Chonburi, Thailand manufacturing facility.
  • In May 2022, the “Shuguang Rubber Industry Research & Design Institute”, announced to establish manufacturing facility for aviation tires with the “Haohua Chemical Science & Technology”. The USD 96 million project will build on company existing production site and will manufacture around 50,000 aircraft tires annually.

Aircraft Tires Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 3.08 billion

Revenue forecast in 2032

USD 4.81 billion

CAGR

5.7% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USDbillion and CAGR from 2024 to 2032

Segments covered

By Type, By Aircraft Type, By Platform, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Bridgestone Corporation, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tires Company Limited, Wilkerson Aircraft Tires, Petlas Tire Corporation, Aviation Tires and Treads LLC, Specialty Tires of America, The Goodyear Tire & Rubber Company, Desser Tire & Rubber Co. LLC., and Michelin.

FAQ's

The global aircraft tires market size is expected to reach USD 4.81 billion by 2032.

Key players in the aircraft tires market are Bridgestone Corporation, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tires Company Limited, Wilkerson Aircraft Tires, Petlas Tire Corporation.

North America contribute notably towards the global aircraft tires market.

The global aircraft tires market expected to grow at a CAGR of 5.7% during the forecast period.

The aircraft tires market report covering key segments are type, aircraft type, platform, end-user, and region.