Global Aircraft Tires market scope 2024, Forecast To 2033
24 Jan, 2024
The aircraft tires market has exhibited strong growth, rising from $1.88 billion in 2023 to $1.97 billion in 2024 at a CAGR of 5.0%. Historical growth is attributed to aircraft fleet expansion, global air travel, runway condition monitoring, military modernization, and the adoption of smart tires. Anticipated trends in the forecast period include technological advancements, advanced composite materials, high-speed landing gear, innovations in tire tread design, and noise reduction tires. The market is expected to see strong growth, reaching $2.41 billion in 2028, with a CAGR of 5.2%, driven by factors such as innovative tire materials, evolving aircraft designs, urban air mobility (UAM), sustainable aviation, and space tourism and exploration.
Global Aircraft Tires Market Key Driver
The aircraft tires market is expected to thrive with the rising number of domestic and international air passengers. The global number of airline passengers is projected to reach 10.5 billion by 2040, according to the International Civil Aviation Organization (ICAO). This growth in air travel necessitates the production of new aircraft, contributing to increased demand for aircraft tires. The continuous wear and tear of tires due to frequent landings further drive the market. The rising number of domestic and international air passengers is a significant driver for the aircraft tires market.
Get A Free Sample Of The Global Aircraft Tires Market ReportGlobal Aircraft Tires Market Segments
The global aircraft tires market covered in this report is segmented –
1) By Product: Radial, Bias
2) By Platform: Fixed Wing, Rotary Wing
3) By Application: Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft, Narrow Body Aircraft
4) By End-user: OEM, Retread Tires, Replacement Tires
By Geography: The regions covered in the Aircraft Tires market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the aircraft tires market in 2023. Asia-Pacific was the fastest growing market in aircraft tires market. The regions covered in the aircraft tires market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Aircraft Tires Industry Players
Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co. Ltd., Wilkerson Company Inc., Desser Tire & Rubber Co. LLC, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads LLC, Trelleborg AB, China National Tire & Rubber Co., Tost GmbH Flugzeuggeratebau, Compagnie Generale Des Etablissements Michelin, Polymer Enterprises Inc., Maxam Tire North America Inc., Stomil-Poznan SA, Airframes Alaska Co., Condor Flugdienst GmbH, Aero Tyre Trading FZC, Michelin Aircraft Tire Company, Techking Tires Limited, Nokian Tyres plc, Titan International Inc., Jenoptik AG
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Aircraft Tires Market Overview
Aircraft tire refers to a rubber ring that is fitted over a road vehicle's wheel rim to increase traction, lessen road shocks, and support the weight of the aircraft while it is on the ground. It also provides the traction needed for braking and stopping. Aircraft tires are generally made of rubber and are an essential and main body part for every aircraft.
Aircraft Tires Global Market Report 2023 provides data on the global aircraft tires market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft tires market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.