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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 4.5% 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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