Aircraft Tires Market Size Worth $4.81 Billion By 2032 | CAGR: 5.7%

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

• Radial-ply tires segment accounted for largest market share in 2022, on account its wide range of beneficial features including high durability and light-weight
• Commercial segment is expected to grow at fastest growth rate over the projected period, which is mainly accelerated by increase in the air traffic and implementation on various business development strategies.
• Fixed-wing segment is anticipated to account for considerable market share during the study period, owing to increased awareness towards the ability of these aircrafts to efficiently operate flight operations
• OEMs segment is expected to witness significant growth over the coming years, that is mainly driven by rapidly growing popularity and traction of several innovated component designs
• North America dominated the global market in 2022, which is mainly attributable to increased spending on aviation sector and widespread presence of large airlines in countries like US and Canada
• The global key market players include Bridgestone Corporation, Qingdao Sentury Tires Co., Wilkerson Aircraft Tires, Petlas Tire Corporation, and Specialty Tires of America

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)

• Radial-Ply Tires
• Bias-Ply Tires

Aircraft Tires, Aircraft Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial Aviation
• Military Aviation
• Business and General Aviation

Aircraft Tires, Platform Outlook (Revenue - USD Billion, 2019 - 2032)

• Fixed-Wing Aircraft
• Rotary-Wing Aircraft

Aircraft Tires, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

• OEMs
• Replacement
• Retreading

    Aircraft Tires, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa