Europe Aircraft Tires Market Size Worth USD 797.28 Million By 2032 | CAGR: 3.7%

The Europe aircraft tires market size is expected to reach USD 797.28 Million by 2032, according to a new study by Polaris Market Research. The report “Europe Aircraft Tires Market Share, Size, Trends, Industry Analysis Report, By Type (Radial-Ply Tires, Bias-Ply Tires); By Aircraft Type; By Platform (Fixed-Wing Aircraft, Rotary-Wing Aircraft); By End-User; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market for aircraft tires in Europe has experienced significant growth in recent years. This growth can be primarily attributed to the well-developed, strong technology and production capabilities. Due to Europe’s consistent R&D investments in the aerospace sector, various trading partners have become key global suppliers of aircraft and related parts, materials, components, and systems, contributing to the country's market supremacy. The government has started accumulating and modernizing aircraft on commercial and military fronts. The businesses are also making significant investments in the research and development of cutting-edge goods and technologies that might be employed in current and future airplanes. The tire industry and aircraft original equipment manufacturers typically prefer long-term contracts. Countries in this region are engaged in the development of next-generation military aircraft and require rapid fleet modernization to maintain technological superiority over their adversaries.

The increasing tourism across the region propels the demand for aircraft expansion, boosting the aircraft tire market. According to Eurostat, between August 2021 and August 2022, the number of air travelers, cargo, and mail in the European Union increased by 25%. France is one of the biggest and most significant aviation markets in Europe in terms of traffic. In terms of deliveries, the commercial aviation market purchased 22 aircraft in 2021, while the general aviation category purchased 45 helicopters, seven business jets, and a total of 7 business aircraft, a 23% increase over the previous year.  

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Furthermore, market expansion in Europe is fueled by rising business jet spending, airport increase, and air traffic. Over the next 20 years, a maker of aircraft, Airbus, predicts a need for 39,490 new passenger and freighter aircraft. From 2022 to 2041, Europe will show a demand for 8,140 jets out of the total. As a result, the market is expanding due to the rising demand for commercial aircraft brought on by increased air travel in countries like the UK, Germany, France, and others, which will fuel demand for the aircraft tire market. Like the global aviation industry, companies in Europe may focus on sustainability and exploring eco-friendly tire materials and practices to reduce the environmental impact of aviation operations.

Europe Aircraft Tires Market Report Highlights

• The radial-ply tires segment dominated the market and is projected to grow at a CAGR during the projected period, mainly driven by higher number of landings per tread and is lighter in weight.
• The commercial aviation segment has dominated the market and is anticipated to grow at the fastest CAGR over the forecast period owing to the magnitude of air traffic.
• Germany is currently at the forefront of the Aircraft Tires market in Europe, owing to the rising purchases of commercial aircraft across Germany, which result from the growing need for transportation from the e-commerce and international trade sectors.
• The key market players include Goodyear Tire and Rubber Company, Michelin, Petlas Tire Corporation, Qingdao Sentury Tires Company Limited, Safran Landing Systems, etc.

Polaris Market Research has segmented the Europe Aircraft Tires market report based on type, aircraft type, platform, end-user, and country:

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

• Radial-Ply Tires
• Bias-Ply Tires

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

• Commercial Aviation
• Military Aviation
• Business and General Aviation

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

• Fixed-Wing Aircraft
• Rotary-Wing Aircraft

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

• OEMs
• Replacement
• Retreading

Europe Aircraft Tires, Country Outlook (Revenue - USD Million, 2019 - 2032)

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

Aircraft Tires Market Report Scope