Aircraft Tires Market Size, Share, Growth, and Industry Analysis, By Type (Radial Tire and Bias Tire), By Downstream Industry (Commercial Aircraft, General Aircraft, and Military Aircraft), and Regional Forecast to 2032

Updated On: 11 November 2024

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AIRCRAFT TIRES MARKET OVERVIEW

The Global Aircraft Tires Market size was USD 2.0962 Bn in 2023 and is projected to touch USD 2.13 Bn by 2032, exhibiting a CAGR of 0.17% during the forecast period.

An aircraft tire is designed for aircraft with a specific kind of rubber. This is an indispensable part of the landing gear system of aircrafts. This component ensures the safety and performance of aviation operations. They are usually made with multiple layers of particular rubber and are strengthened with various materials, such as steel belts, to give strength and durability. They are made in such a way that can withstand intense conditions. It can handle heavy loads and the intense heat produced by braking systems.

Increasing air journey demand and the expansion of airline fleets globally are providing fuelling demand for the tires which is propelling the market growth. Technological improvement and increasing integration of advanced technology is offering many opportunities for market progress. However, this market may face constraints such as manufacturing process and varying raw material cost.

GLOBAL CRISES IMPACTING AIRCRAFT TIRES MARKET - COVID-19 IMPACT

"Aviation Industry Had a Negative Effect Due to Halt on Traveling during COVID-19 Pandemic"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had hampered the aircraft tire market growth. The operations of companies in most countries were stopped. As a result, the export-import of raw materials for manufacturing tires was unavailable. It significantly impacted the market due to the declination in air travel demand and, subsequently, the Aircraft Tires Market. The COVID-19 pandemic forced the governments to impose strict lockdown measures that resulted in flight cancellations and forbid e-commerce service. This has led to massive reduction in commercial aviation and logistics activities across the world. The pandemic resulted in vast supply-demand issues and extensive delays in the actions of aircraft tire manufacturing globally.

LATEST TREND

"Growing Preference Fuel-Efficient Tires Propel Market Growth"

A present trend is the aviation industry focusing on sustainability and environmental concerns. There has been a prominent shift towards more fuel-efficient aircraft tires. Fuel consumption contributes a significant operational cost for airlines, and using fuel-efficient tires can facilitate a reduction of overall operating expenses and lower the carbon footprint of flights. Manufacturers are designing tires with reduced rolling resistance and improved aerodynamics to better the fuel efficiency which consequently, increased demand in the market.

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AIRCRAFT TIRES MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into radial tire and bias tire

• Radial Tire: It is designed by pilling layers of cords together at 90-degree angles with respect to the direction of travel. This type of tire allows heat resistance build-up and provides better fuel efficiency.

• Bias Tire: These tires provide strong sidewalls and high load-carrying capacity because of its design pattern with layers of cords arranged in crossover diagonally.

BY DOWNSTREAM INDUSTRY

Based on downstream industry, the global market can be categorized into commercial aircraft, general aircraft, and military aircraft

• Commercial Aircraft: This application uses aircraft tires for passenger and cargo planes which are used for commercial purposes by airlines that use these tires that provide fuel efficiency with long term reliability.

• General Aircraft: It refers to smaller planes used for personal and business aviation such as private jets and chartered planes utilizing tires that are suitable for smaller aircraft and diverse operational environments.

• Military Aircraft: Military aircraft include planes used by military forces for various purposes, including combat, surveillance, and transportation are employing these tires for enduring harsh conditions and heavy loads.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Rising Technological Advancement in the Aviation Industry Impel Market Growth"

A factor in the Aircraft Tires Market growth is the rising technological advanced infrastructure in the aviation industry has led to significant advancements in various components and systems. Since airports worldwide strive to contain larger aircraft, handle increased air traffic, and improve operational efficiency. The demand for highly reliable and technologically advanced aircraft tires has propelled the market growth. The development of tires is the continuous push for enhanced safety in aviation operations. Sophisticated tires are engineered to tolerate tremendous stresses and adverse weather conditions. The requirement for tires has grown-up significantly with the aircraft sizes, weights, and speeds have increased.

"High Demand for Air Travel and Increasing Disposable Income Enhance Market Growth"

The growing inclination for air travel as a mode of transportation is one more factor that supports the market expansion. It is fueled by factors such as increased disposable income expansion and globalization, which has led to a rise in passenger air travel. This has resulted in a higher demand for commercial aircraft, consequently increasing the need for aviation tires. Furthermore, the defense sector’s continuous demand for military aircraft, including UAVs and aircraft equipped with armaments, has contributed significantly to the aviation tires market. Militate aircraft require specialized tires that can withstand extreme conditions and heavy load, further boosting the demand for the product.

RESTRAINING FACTOR

"Stringent Regulatory Standards Impede Market Growth"

An off-putting factor that is hindering the market growth is the aviation industry is highly sensitive to fluctuations in fuel prices. With the fuel costs rising, airlines may face financial constraints and seek options to reduce expenses. This may impact their readiness to invest in new aircraft tires and lead to delay in tire replacement schedules. Additionally, aviation tires are subject to strict regulatory standards to ensure passenger safety and aircraft performance. Complying with these regulations can be costly and time taking for manufacturers, potentially affecting product development timelines and overall market growth.

OPPORTUNITY

"Focus on lightweight and Durable Materials Could be an Opportunity for Market Growth"

The Market for aviation tires has few opportunities that can propel the market expansion. Developing tires that are strong enough to handle heavy loads but light enough to improve fuel efficiency will be a crucial factor for market growth. The specialization in tires designed for the unique requirements of eVTOL and other electric aircraft will be a growth area. The financial investment and government initiative in the field of aviation is encouraging manufacturers to work on the progress of the market.

CHALLENGE

"Designing of Aircraft Tires could be a Challenge for Market Growth"

The manufacturing of aircraft tires is a very difficult task. The process of developing a tire that meets both the requirements of the aircraft manufacturer and all regulatory standards pose challenges to the production. It sometimes includes an international regulation which affects production capacity. An aircraft manufacturer provides the tire manufacturer with the size and weight specifications. Aircraft tires include fusible plugs that melt at definite temperatures. Designing tires with low temperature running, heat-resistance materials while also fulfilling tire service criteria is a challenge for manufacturers.

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AIRCRAFT TIRES MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America dominates the Aircraft Tires Market due to the increased demand for passenger transportation. In addition, rising environmental apprehension because of increased carbon emissions have led to boost demand for fuel-efficient aircraft. The United States Aircraft Tires Market is projected to develop considerably. The legislative authorities such as the FAA and AIA’s adoption of new police and enforcement of stringent aircraft safety standards will accelerate the demand for aircraft tires and their regular maintenance in the country.

• EUROPE

The Europe Aircraft Tires Market is witnessing significant growth owing to the increasing demand for air travel across major countries. Major countries including Germany, the U.K. and France have well-established facilities for manufacturing aircraft, which is boosting the market expansion in the region. The region has also reported an increase in air journey passengers over the past few years.

• ASIA

Asia Pacific is expected to grow with the highest CAGR due to increasing passenger traffic in the region led to various airline companies’ acquiring new aircraft with advanced features to cater to such rising demands. China, India, and Japan experienced a fast increase in passenger traffic, resulting in large orders for new aircraft from airlines operating in the region. In addition, various aviation tire manufacturers are now engaged in manufacturing advanced aircraft tires. These products will be more robust and can resist longer airplane take-offs and departures before needing to be replaced.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Integration of Technological Advancement and Market Expansion"

The aircraft tires industry is highly consolidated with the occurrence of a small number of companies around the globe. Aircraft tire manufacturers are focusing on the launching of new products and technologies implementation to enhance their service portfolios. Through this strategy, the players can cater to the growing demand for aircraft tires. Enhancement of the product landscape and strategic partnerships, merger, and acquisition are key initiatives in the global market.

LIST OF TOP AIRCRAFT TIRES COMPANIES

• Dunlop (U.K.)
• Goodyear (U.S.)
• Shuguang Rubber (China)
• Michelin (France)
• Bridgestone (Japan)

KEY INDUSTRY DEVELOPMENT

June 2023: Airbus elected Goodyear to supply the tires for the new A321XLR. This supply is carrying passengers as of 2023. The Airbus A321XLR aircraft will be fitted with Goodyear’s Flight Radial Tire which is one of the most advanced aviation tires delivered by Goodyear.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The Aircraft Tires Market is poised for an unrelenting boom owing to the growing technological advanced infrastructure in the aviation industry has led to significant advancements in various components and systems and the growing preference for air travel as a mode of transportation. Regardless of challenges such as the process of developing a tire that meets both the requirements of the aircraft manufacturer and all regulatory standards pose challenges to the production. The investment and initiatives by the government are supporting the aviation industry and approaching manufacturers to put effort on the development of the market. Key players are focusing on the development of new products and technologies to increase service range to fulfill the growing demand for aircraft tires. Enhancement of the product and strategic partnerships are major initiatives in the global market.