The global aircraft tires market size is expected to reach USD 4.81 billion by 2032, according to a new study by Polaris Market Research. The report “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, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The exponential growth in the global commercial aviation and defense industries and continuous rise in the air-borne traffic across the globe coupled with the growing need for efficient flight safety mechanisms are primary factors influencing the global market growth. In addition, various aeronautical manufacturers are highly emphasizing on the development of light-weight aircrafts tires, integrated with enhanced baking systems & use of high performance materials are another growth-inducing factor for the market.
According to a data published by Civil Aviation, India’s total air traffic has grown by over 47% in 2022 to around 123.2 million passengers, that indicates a strong recovery from the impact seen in 2021 and 2020 because of the covid pandemic. However, the annual air traffic was still a bit lower than the levels of 2019 but is likely to gain its momentum soon in next coming years.
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Presently, the world is witnessing a significant rise in geopolitical tensions among various countries such as India-China and Russia-Ukraine, thereby to be ready for war-like situations, countries are highly increasing their defense spending to install modern defense equipment for higher safety and enhance their military aircraft facilities. The global expenditure on aviation and military sector has gained exponential growth in the recent years, that has paved the way for higher adoption for innovated tires globally
Aircraft Tires Market Report Highlights
Polaris Market Research has segmented the aircraft tires market report based on type, aircraft type, platform, end-user, and region:
Aircraft Tires, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Aircraft Tires, Aircraft Type Outlook (Revenue - USD Billion, 2019 - 2032)
Aircraft Tires, Platform Outlook (Revenue - USD Billion, 2019 - 2032)
Aircraft Tires, End-User Outlook (Revenue - USD Billion, 2019 - 2032)
Aircraft Tires, Regional Outlook (Revenue - USD Billion, 2019 - 2032)