USD 2.33 billion
Global Aircraft Tires Market Size, Share, Growth Analysis, By Construction(Bias/Ply tires, and Radial tires), By Aircraft(Commercial, Narrow-body) - Industry Forecast 2024-2031
Report ID:
SQMIG20A2208 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
66 |
Figures:
64
Global Aircraft Tires Market Insights
Aircraft Tires Market size was valued at USD 2.33 billion in 2021 and is poised to grow from USD billion 2.46 in 2022 to USD 3.77 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).
The Aircraft Tires market experiences growth due to the expansion of the global economy, which resulted in a notable increase in the preference for air travel as a mode of transportation. Consequently, the demand for low-cost air travel has surged, leading to a rise in the number of daily flights operated by most airlines. This, in turn, has driven the international demand for aircraft tires. Moreover, with growing concerns about passenger safety and the steady growth of passenger air travel, the replacement rate of current aircraft tires has witnessed a significant upswing over the past year. As a result, the global aircraft tire industry has experienced remarkable and rapid growth. The commercial aviation market is witnessing a surge in new airlines joining the global arena, alongside the existing ones, further boosting the need for aviation tires and the retread tire business. In addition to generous government funding and support for the aircraft tire industry, there is a substantial demand for military aircraft in the defense sector, including UAVs and aircraft equipped with armaments. This diverse demand for airplanes from various markets serves as a key driving force for the industry. Recognizing the potential for continued growth, major corporations are making strategic investments to expand their production capacities for airplane tires to meet the escalating demand. As a result of these factors, it is anticipated that the expansion of the aircraft tire industry will intensify in the forthcoming years.
US Aircraft Tires Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Radial tires
Fastest Growth
Radial tires
Growth Rate
5.5% CAGR
Global Aircraft Tires Market ($ Bn)
Country Share for North America Region (%)
Global Aircraft Tires Market By Construction ($ Bn)
Global Aircraft Tires Market By Construction (%)
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Global Aircraft Tires Market Segmental Analysis
The global aircraft tire market is segmented on the basis of construction, aircraft, product, platform, end user, and region. Based on Construction, the market is segmented into Bias/Ply tires, Radial tires. By Aircraft, the market is segmented into Commercial, Narrow-body, Wide-body, Regional jets, Business jets, Helicopter, Military & Defence. By Product, the market is segmented into Tube tires, Tubeless. By Platform, the market is segmented into, Fixed wing, Rotary wing. By End user, the market is segmented into OEM, Aftermarket. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aircraft Tires Market Analysis By Construction
The dominant segment is likely to be the radial tires segment. Radial tires are known for their enhanced stability, fuel efficiency, and reduced heat generation, making them a popular choice for modern aircraft. As the aviation industry continues to prioritize safety and performance, the adoption of radial tires has increased significantly, establishing them as the dominant segment in the market.
On the other hand, the fastest growing segment is expected to be the bias/ply tires segment. Although radial tires dominate the market, bias/ply tires are experiencing rapid growth due to their suitability for certain types of aircraft and specific applications. These tires offer robust construction and high load-carrying capabilities, making them well-suited for smaller aircraft, general aviation, and military aircraft. Additionally, their lower manufacturing costs compared to radial tires contribute to their rising popularity, especially in emerging markets and budget-conscious operators.
Aircraft Tires Market Analysis By Aircraft
The commercial aircraft segment is the most dominant segment in the aviation tires market. This can be attributed to the increasing preference for air travel among passengers due to global economic expansion. As economies grow, disposable incomes rise, leading to a higher demand for air travel, both for business and leisure purposes. Consequently, airlines are expanding their fleets and increasing the number of daily flights to meet this escalating demand. As a result, the demand for aviation tires used in commercial aircraft is experiencing substantial growth.
On the other hand, the military and defense aircraft segment is expected to be the most fast-growing segment in the aviation tires market. The escalating concerns over national security, geopolitical tensions, and the need to modernize defense forces have driven significant investments in military aviation. Additionally, the demand for unmanned aerial vehicles (UAVs) and aircraft carrying armaments has been rising rapidly. Governments around the world are allocating generous budgets for the development and procurement of advanced military aircraft. These aircraft require specialized and durable tires to operate efficiently under various challenging conditions. As a result, there is a growing demand for aviation tires designed specifically for military and defense aircraft, making this segment the most rapidly expanding one in the market.
Global Aircraft Tires Market By Construction, 2023 (%)
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Global Aircraft Tires Market Regional Insights
The global aircraft tires market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In North America, the commercial aviation segment is the dominant segment of the aviation tires market. This is primarily due to the presence of a large number of major airlines, extensive air travel networks, and a robust demand for passenger and cargo transportation across the region. The well-established aviation industry in North America, including the United States and Canada, has led to a consistent and substantial demand for high-quality aircraft tires to support the growing fleet of commercial airplanes.
On the other hand, Asia Pacific is considered to be the fastest growing region. In the Asia-Pacific region, the Unmanned Aerial Vehicles (UAVs) and military aircraft segment is experiencing the most rapid growth in the aviation tires market. The Asia-Pacific region has witnessed a surge in military modernization and defense spending by various countries, resulting in an increased procurement of military aircraft and UAVs. These aircraft require specialized and durable tires to operate effectively, leading to a significant upswing in the demand for aviation tires in this segment. Additionally, the rising popularity of UAVs for various applications, such as surveillance, reconnaissance, and delivery services, has further fueled the fast-paced growth of this segment in the Asia-Pacific region.
Global Aircraft Tires Market By Geography, 2024-2031
- Largest
- Fastest
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Global Aircraft Tires Market Dynamics
Aircraft Tires Market Drivers
Increasing Demand for Air Travel:
- The growing preference for air travel as a mode of transportation, fueled by factors such as economic expansion and globalization, has led to a rise in passenger air travel. This has resulted in a higher demand for commercial aircraft, consequently driving the need for aviation tires.
Expansion of the Defense Sector:
- The defense sector's continuous demand for military aircraft, including UAVs and aircraft equipped with armaments, has contributed significantly to the aviation tires market. Military aircraft require specialized tires that can withstand extreme conditions and heavy loads, further boosting the demand for aviation tires.
Aircraft Tires Market Restraints
Fluctuating Fuel Prices:
- The aviation industry is highly sensitive to fluctuations in fuel prices. As fuel costs rise, airlines may face financial constraints and seek ways to reduce expenses, which could impact their willingness to invest in new aircraft tires or lead to delays in tire replacement schedules.
Stringent Regulatory Standards:
- Aviation tires are subject to strict regulatory standards to ensure passenger safety and aircraft performance. Complying with these regulations can be costly and time-consuming for manufacturers, potentially affecting product development timelines and overall market growth.
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Global Aircraft Tires Market Competitive Landscape
The global aviation tires market is characterized by intense competition among key players. Established tire manufacturers, along with emerging companies, vie for market share through product innovation, advanced technology integration, and expanding their global distribution networks. Major companies focus on offering a wide range of high-quality aviation tires that cater to various aircraft types, meeting the stringent safety and performance requirements of the aviation industry. Additionally, strategic partnerships, mergers, and acquisitions are common strategies to strengthen market presence and achieve a competitive edge. The market's competitive landscape is driven by a constant pursuit of excellence and customer-centric solutions to remain at the forefront of this rapidly evolving industry.
Aircraft Tires Market Top Player’s Company Profile
- Michelin (France)
- Goodyear Tire and Rubber Company (US)
- Bridgestone Corporation (Japan)
- Dunlop Aircraft Tyres Ltd. (UK)
- Qingdao Sentury Tires Company Limited (China)
- Wilkerson Aircraft Tires (US)
- Petlas Tire Corporation (Turkey)
- Aviation Tires and Treads, LLC (US)
- Specialty Tires of America (US)
Aircraft Tires Market Recent Developments
- In April 2022, Goodyear tires announced their intention to manufacture military aircraft tires using rubber sourced from dandelions, as part of their sustainable materials initiative. These tires will be made from the specific Taraxacum kok-saghyz dandelion species.
- In May 2022, ChemChina's aircraft tire subsidiary, Shuguang Rubber Industry Research & Design Institute, partnered with engineering company Haohua Chemical Science & Technology to establish a new production facility for civil aviation tires.
- In May 2022, Shuguang Rubber Industry Research & Design Institute disclosed their plan to invest USD 96 million in an aviation tire manufacturing facility in collaboration with Haohua Chemical Science & Technology, targeting an annual output of approximately 50,000 aircraft tires.
- In July 2022, Bridgestone revealed its plans to streamline aircraft tire retreading manufacturing in the Asia-Pacific region. To optimize production, they consolidated the manufacturing of retread aircraft tires at their Chonburi, Thailand facility (BAMT), which previously housed Bridgestone Aircraft Tire Company Asia (BAA).
Global Aircraft Tires Key Market Trends
- Increasing Demand for Fuel-Efficient Tires:
With the aviation industry's growing focus on sustainability and environmental concerns, there has been a notable shift towards more fuel-efficient aircraft tires. Fuel consumption is a significant operational cost for airlines, and using fuel-efficient tires can help reduce overall operating expenses and lower the carbon footprint of flights. Manufacturers have been investing in research and development to design tires with reduced rolling resistance and improved aerodynamics, which contribute to better fuel efficiency and, consequently, increased demand in the market.
- Advancements in Tire Technology and Materials:
The aviation industry has witnessed ongoing advancements in tire technology and the use of innovative materials to enhance tire performance and durability. Aircraft tires are subjected to extreme conditions during take-offs, landings, and taxiing, making tire reliability and longevity critical factors. Tire manufacturers have been exploring new materials, such as advanced composites and nanomaterials, to develop tires with improved strength, heat resistance, and wear characteristics. Additionally, advancements in tire monitoring systems have enabled real-time monitoring of tire conditions, leading to better maintenance practices and increased safety for flight operations.
Global Aircraft Tires Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aircraft tires market analyses, the expanding global aviation industry is a prime growth driver. The increase is due to the rising preference for air travel and global economic expansion. The demand for low-cost air travel has driven airlines to increase the number of daily flights, leading to a surge in international demand for aircraft tires. However, this growth has also posed challenges, such as an escalation in the replacement rate of present aircraft tires and concerns about passenger safety. Despite these challenges, the industry's potential for expansion remains promising, with new airlines entering the market and government support, along with a growing demand for military aircraft and UAVs, contributing to the upward trajectory.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.33 billion |
| Market size value in 2031 | USD 3.77 billion |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aircraft Tires Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aircraft Tires Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aircraft Tires Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aircraft Tires Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aircraft Tires Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aircraft Tires Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aircraft Tires Market Report Snapshots
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