The global Aircraft Tire Industry is anticipated to be valued at USD 1.8 billion in 2023 and is projected to grow to USD 3.3 billion by 2033, with a CAGR of 6.2% over the forecast period.
The growth of the airline industry, particularly commercial airlines, in recent years can be linked to rising globalization and strong economic development. This has led to more people choosing air travel as their primary means of transportation, contributing to the Industry’s expansion.
The global Aircraft Tire Industry is soaring to new heights, driven by increasing air travel, rising fleet expansions, and advancements in tire technology. Aircraft tires, vital for ensuring safety during takeoff, landing, and taxiing, are witnessing significant innovations to meet the demands of modern aviation.
The growth of commercial aviation, military aircraft fleets, and general aviation sectors is propelling the industry. Key trends include the development of lightweight, durable, and eco-friendly tires designed to withstand high speeds and loads. Advanced materials, such as radial technology and reinforced composites, are improving tire performance and lifecycle efficiency.
Airlines and aircraft manufacturers are also prioritizing sustainability, leading to the adoption of retreadable tires that reduce waste and costs. Moreover, the expansion of low-cost carriers and regional connectivity initiatives in emerging Industrys further fuels the demand for high-performance aircraft tires.
As global air travel recovers post-pandemic and new-generation aircraft enter service, the aircraft tire industry is set to experience sustained growth, backed by innovation and technological advancements.
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Key Drivers:
- Growing Air Traffic:
Increasing passenger and cargo flights drive the demand for durable and high-performance aircraft tires. - Fleet Expansion:
Airlines are modernizing and expanding fleets to meet rising air travel demand, boosting the need for new and replacement tires. - Technological Innovations:
The development of radial and composite-based tires enhances performance, safety, and lifecycle. - Sustainability Goals:
Adoption of retreadable tires aligns with environmental regulations and reduces operational costs. - Military and Defense Investments:
Increased defense budgets and procurement of advanced aircraft create opportunities in the military aviation segment.
Key Takeaways:
- Commercial aviation dominates the Industry, driven by passenger growth and fleet renewals.
- Retreadable tires are gaining popularity, offering cost efficiency and environmental benefits.
- Asia-Pacific emerges as a high-growth region, supported by rapid aviation industry development and infrastructure investments.
- Technological advancements, such as radial construction and composite reinforcements, are reshaping tire performance standards.
Competitive Landscape
The market for aircraft tire is highly competitive, with numerous prominent industry players making substantial investments in their production. The key industry players are Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, Dunlop Aircraft Tyres Limited, Polymer Enterprises Inc., Michelin, Maxam Tire International, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads.
Some recent developments in the market are
Bridgestone announced its plans to streamline the manufacturing of aircraft tire retreading in the Asia-Pacific region in July 2022. To enhance efficiency, they consolidated production at their Chonburi, Thailand facility (BAMT), which already produces retreaded aircraft tires, incorporating operations from Bridgestone Aircraft Tire Company Asia (BAA)
- In May 2022, Shuguang Rubber Industry Research & Design Institute, a subsidiary of ChemChina specializing in aircraft tires, joined forces with engineering company Haohua Chemical Science & Technology to establish a state-of-the-art production facility for civil aviation tires.
- In April 2022, Goodyear Tires made an exciting announcement to produce military aircraft tires using a unique and sustainable source of rubber derived from dandelions. As part of their commitment to using eco-friendly materials, Goodyear will harness natural rubber derived from the Taraxacum kok-saghyz species of dandelions for the manufacturing of these tires.
- In June 2020, a collaboration between Japan Airlines and Bridgestone Corporation was announced, focusing on the implementation of tire wear prediction technologies.
Key Segments Profiled in the Aircraft Tire Industry Survey
By Aircraft Type:
- Small Widebody Aircraft
- Medium/ Large Widebody Aircraft
- Narrowbody Aircraft
- Propeller Aircraft
- Helicopter
- Defense and Homeland Security Aircraft
- Freighters
By Ply Type:
- Bias Ply
- Radial Ply
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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