Overview and Scope
Aircraft tire refers to a rubber ring that is fitted over a road vehicle’s wheel rim to increase traction, lessen road shocks, and support the weight of the aircraft while it is on the ground. It also provides the traction needed for braking and stopping. Aircraft tires are generally made of rubber and are an essential and main body part for every aircraft.
Sizing and Forecast
The aircraft tires market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to aircraft fleet expansion, global air travel, runway condition monitoring, military modernization, smart tires,.
The aircraft tires market size is expected to see strong growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to innovative tire materials, evolving aircraft designs, urban air mobility (uam), sustainable aviation, space tourism and exploration. Major trends in the forecast period include technological advancements, advanced composite materials, high-speed landing gear, tire tread design, noise reduction tires.
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The aircraft tires market covered in this report is segmented –
1) By Product: Radial, Bias
2) By Platform: Fixed Wing, Rotary Wing
3) By Application: Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft, Narrow Body Aircraft
4) By End-user: OEM, Retread Tires, Replacement Tires
North America was the largest region in the aircraft tires market in 2023. Asia-Pacific was the fastest growing market in aircraft tires market. The regions covered in the aircraft tires market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising number of domestic and international air passengers is driving the aircraft tires market. The increase in domestic and international air passengers means the production of new aircraft needs to be done to meet the demand, which increases the usage of aircraft tires and also the frequent wear and tear of tires due to the continuous landing per tyre to meet the demands, further drives the market. For instance, according to the International Civil Aviation Organization (ICAO), the global number of airline passengers is expected to reach 10.5 billion by the year 2040. Also, according to the Boeing 2020–2039 commercial market outlook, India’s domestic air passenger market is expected to double its size by 2030 from the pre-pandemic levels. Hence, the rising number of domestic and international air passengers drives the aircraft tires market.
Key Industry Players
Major companies operating in the aircraft tires market include Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co. Ltd., Wilkerson Company Inc., Desser Tire & Rubber Co. LLC, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads LLC, Trelleborg AB, China National Tire & Rubber Co., Tost GmbH Flugzeuggeratebau, Compagnie Generale Des Etablissements Michelin, Polymer Enterprises Inc., Maxam Tire North America Inc., Stomil-Poznan SA, Airframes Alaska Co., Condor Flugdienst GmbH, Aero Tyre Trading FZC, Michelin Aircraft Tire Company, Techking Tires Limited, Nokian Tyres plc, Titan International Inc., Jenoptik AG
The aircraft tires market report table of contents includes:
1. Executive Summary
2. Aircraft Tires Market Characteristics
3. Aircraft Tires Market Trends And Strategies
4. Aircraft Tires Market – Macro Economic Scenario
…
31. Global Aircraft Tires Market Competitive Benchmarking
32. Global Aircraft Tires Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Tires Market
34. Aircraft Tires Market Future Outlook and Potential Analysis
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