Global Aircraft Tire Market By Application, Size, Share, And Forecast 2024-2032

Aircraft Tire Market Size And Forecast

Aircraft Tire Market size was valued at USD 2.46 Billion in 2024 and is projected to reach USD 3.77 Billion by 2031, growing at a CAGR of 5.5% during the forecast period 2024-2031.

The Aircraft Tire Market encompasses the global demand for tires specifically designed for aircraft, including commercial, military, and general aviation applications. These tires are crucial components of an aircraft’s landing gear system, providing essential support during takeoff, landing, and taxiing operations. They are engineered to withstand high loads, extreme temperatures, and diverse operating conditions while ensuring optimal safety and performance.

Global Aircraft Tire Market Definition

An aviation tire is made to support huge weights for a brief period. As more tires are needed to spread the aircraft’s weight more equally, the aircraft’s weight causes a rise in the number of tires needed. Aircraft tires have specific tread patterns to stabilize solid crosswinds, channel water away to minimize hydroplaning and provide a braking effect. Fusible plugs, constructed on the wheels’ inner and intended to melt at a specific temperature, are also a part of aircraft tires. Tires frequently overheat if maximal braking is used during an emergency landing or aborted takeoff. Tire explosions are avoided by the fuses’ safer failure mode, which involves controlled tire deflation.

Global Aircraft Tire Market Overview

The preference for air travel as a mode of transportation is increasing due to global economic expansion. In response to the increased demand for low-cost air travel, which is driving demand for aircraft tires internationally, most airlines are increasing the number of aircraft that fly daily. Due to the increase in passenger air travel and escalating worries about passenger safety, the replacement rate of present aircraft tires has increased over the last year. This has fueled the explosive expansion of the global aircraft tire industry. The need for aviation tires and the retread tire business is increasing as more and more new airlines, in addition to existing ones, are joining the global market for commercial aircraft.

The government has generously funded and supported the aircraft tire business. Additionally, there is a huge need for military aircraft in the defense sector. Additionally, the demand for UAVs and aircraft carrying armaments is growing. The demand for airplanes from various markets is the industry’s main factor. Major corporations are investing in expanding their capacity to produce airplane tires to meet the rising demand. As a result of the considerations above, it is projected that the growth of aircraft tires will intensify in the coming years.

Global Aircraft Tire Market Segmentation Analysis

The Global Aircraft Tire Market is segmented on the basis of Product, Platform, End-User, and Geography.

Aircraft Tire Market, By Product

• Radial
• Bias

Based on Product, The market is segmented into Radial and Bias. The Radial segment is anticipated to dominate the Global Aircraft Tire Market. The aviation industry widely recognizes radial aircraft tires as solid and light. The environmentally beneficial performance of these tires is well-known.

Aircraft Tire Market, By Platform

• Fixed Wing
• Rotary Wing

Based on Platform, The market is segmented into Fixed Wing and Rotary Wing. Compared to fixed-wing, rotary-wing aircraft can hover, take off, land vertically, and swiftly change direction.

Aircraft Tire Market, By End-User

• Commercial
• Military & Defense

Based on End-User, The market is segmented into Commercial and Military & Defense. The Commercial segment is anticipated to dominate the Global Aircraft Tire Market. The increasing number of commercial airplanes transporting people across numerous nations due to rising air passenger traffic worldwide is one of the market trends for aircraft tires. With the increased use of commercial airplanes, the likelihood of tire wear and tear is skyrocketing, driving up demand for aftermarket tires.

Aircraft Tire Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Global Aircraft Tire Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America will hold the largest Global Aircraft Tire Market owing to the rapidly expanding spending in the aircraft and aviation industries, especially in countries such as the US and Canada, where governments are highly focused on and mindful of the passenger’s security and accessibility.

Key Players

The “Global Aircraft Tire Market” study report will provide valuable insight emphasizing the global market. The major players in the market are Bridgestone Corporation, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Dunlop Aircraft Tyres Limited, Michelin, Qingdao Century Tires, Desser Tires & Rubber Co., LLC, Wilkerson Company, Aviation Tires & Treads, LLC, China National Tire & Rubber Co., Ltd, Sentury Tires Company Limited, Petlas Tire Corporation.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In July 2022, Bridgestone announced intentions to combine part of its manufacturing for retreading airplane tires in Asia-Pacific. It has merged BAA (Bridgestone Aircraft Tyre Company Asia) production into its Chonburi, Thailand, plant (BAMT), which now produces retreaded aircraft tires, to optimize the production of retreaded aircraft tires in the Asia-Pacific area.
• In April 2022, Goodyear Tyres disclosed plans to use dandelion-derived rubber to create tires for military aircraft. Goodyear will create military aviation tires from a home supply of natural rubber made from dandelion seeds to generate tires from all sustainable materials. The Taraxacum kok-saghyz, a particular dandelion, will be used to make the tires.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Aircraft Tire Market. We cover the major impacting factors driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Aircraft Tire Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Analyst’s Take:

Aircraft Tire Market is projected to witness steady growth in the coming years, driven by increasing air travel demand, fleet expansion, and technological advancements in tire materials and design. The rising emphasis on aircraft safety and operational efficiency, coupled with stringent regulatory standards, will further propel market growth. Moreover, the growing adoption of lightweight and fuel-efficient aircraft models, along with the expansion of commercial aviation networks, will create lucrative opportunities for market players. However, challenges such as volatile raw material prices and economic uncertainties may pose temporary constraints on market expansion. Overall, sustained investments in research and development, along with strategic collaborations and product innovations, will be crucial for companies to maintain a competitive edge in the evolving Aircraft Tire Market landscape.

Research Methodology of Market Research

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Reasons to Purchase this Report

Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factorsProvision of market value (USD Billion) data for each segment and sub-segmentIndicates the region and segment that is expected to witness the fastest growth as well as to dominate the marketAnalysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each regionCompetitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiledExtensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market playersThe current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regionsIncludes an in-depth analysis of the market of various perspectives through Porter’s five forces analysisProvides insight into the market through Value ChainMarket dynamics scenario, along with growth opportunities of the market in the years to come6-month post sales analyst support

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