The global aircraft tire market is currently witnessing a stable growth. An aircraft tire refers to a specialized wheel that is designed to provide stability to the aircraft and withstand heavy loads at high speeds. The tires are manufactured using nylon, steel and natural and artificial rubber and some of the common types of aircraft tires include radial and bias-ply tires. The radial tires consist of perpendicular fiber stands that are fixed at the tire sidewall in the direction of rotation to minimize bidirectional and sidewall flexibility. On the other hand, a bias-ply tire consists of fabric bias that can stretch on the bias and is placed across the direction of rotation and sidewall.
The significant growth in the commercial aviation and defense industries is one of the key factors driving the growth of the market. With the increasing air traffic across the globe, there is a growing need for highly efficient flight safety mechanisms, including tires, to ensure maximum passenger safety. Aeronautical manufactures are emphasizing on producing light-weight aircraft tires that are integrated with improved braking systems, which is providing a boost to the market growth. Additionally, advancements in tire manufacturing technologies, such as the utilization of next-generation materials, synthetic elastomer rubber and cross-linkable rubber, are acting as another growth-inducing factor. These materials are highly durable and aid in enhancing the overall fuel-efficiency of the aircraft by minimizing the weight of the tire. Other factors, including the growing demand for aircraft for various combat and non-combat operations in the defense sector, along with the increasing government investments in the aviation infrastructure, are projected to drive the market further. Looking forward, IMARC Group expects the market to exhibit a CAGR of around 3% during 2020-2025.
IMARC Group provides an analysis of the key trends in each sub-segment of the global aircraft tire market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, product type, platform, sector and distribution channel.
Breakup by Product Type:
Breakup by Platform:
Breakup by Sector:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Aviation Tires, Bridgestone Corporation, Desser Tire & Rubber Co., Dunlop Aircraft Tyres Ltd., Goodyear Tire & Rubber Co., Michelin, Petlas Tire Corporation, Qingdao Sentury Tire Co. Ltd., Specialty Tires of America, Wilkerson Company Inc. (Wco) Ltd., etc.
The global aircraft tire market size was valued at US$ 1.56 Billion in 2020.
According to the estimates by IMARC Group, the global aircraft tire market is expected to witness a CAGR of 4.54% from 2021 to 2026.
The increasing air traffic across the globe has raised the need for highly efficient flight safety mechanisms, including tires with improved brake systems to ensure maximum passenger safety. This represents one of the key drivers for the global aircraft tire market.
The rising adoption of numerous advanced tire manufacturing technologies have led to the emergence of synthetic elastomer rubber and cross-linkable rubber for aircraft tires, thereby representing one of the key industry trends in the global aircraft market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous aviation-based production houses and manufacturing units, thereby hampering the overall market for aircraft tires.
On the basis of the product type, the market has been bifurcated into radial and bias, where bias tires hold the majority of the total market share.
On the basis of the sector, the market has been divided into OEM and replacement. Among these, replacement represents the largest segment.
On the basis of the application, the market has been classified into commercial aircraft and non-commercial aircraft. Among these, commercial aircraft holds the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global aircraft tire market are Aviation Tires, Bridgestone Corporation, Desser Tire & Rubber Co., Dunlop Aircraft Tyres Ltd., Goodyear Tire & Rubber Co., Michelin, Petlas Tire Corporation, Qingdao Sentury Tire Co. Ltd., Specialty Tires of America, Wilkerson Company Inc. (Wco) Ltd., etc.
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