What Are The Major Factors that Have Influenced the Aircraft Tires Market in Recent Years?
The Aircraft Tires Market has exhibited robust growth in recent years, driven by several dynamic forces.
• The market has grown from $1.96 billion in 2024 to a projected $2.05 billion in 2025, realizing a compound annual growth rate (CAGR) of 5.0%.
Key drivers of this growth include a surge in global air travel, an increase in aircraft fleet expansion, advancements in runway condition monitoring, military modernization, and the introduction of smart tires.
What is the Projected Market Size and Estimated Growth Rate for the Aircraft Tires Market in the Coming Years?
The aircraft tires market is expected to see a strong wave of growth in the coming years.
• The market will grow to a remarkable $2.59 billion by 2029, with an impressive CAGR of 6.0%.
Key factors propelling this growth include the development of innovative tire materials, evolving aircraft designs, emerging trends in urban air mobility (UAM), sustainable aviation, space tourism and exploration, with major trends in the forecast period captured by technological advancements in tire manufacturing such as the use of advanced composite materials, high-speed landing gear, advanced tire tread design, and noise reduction tires.
Which Key Factors Drive The Growth Of The Aircraft Tires Market?
An increase in domestic and international air passengers is significantly driving the growth of the aircraft tires market. This increase has created the necessity to produce more aircraft to meet the demand, thereby driving the usage of aircraft tires. The frequent replacement of worn-out tires due to continuous landing per tire has further catalyzed market growth. To illustrate, according to the International Civil Aviation Organization (ICAO), the global number of airline passengers is predicted to reach 10.5 billion by 2040. In addition, the Boeing 2020–2039 commercial market outlook expects India's domestic air passenger market to double its size by 2030 from pre-pandemic levels.
How Is the Aircraft Tires Market Segmented?
The aircraft tires market is divided into the following segments:
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
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What are the Trends Shaping the Aircraft Tires Market?
Technological advancements are reshaping the aircraft tires market. Companies are focusing on developing innovative tires with more extended durability, enhanced resistance, and improved efficiency. For instance, in December 2023, the China-based Changchun Institute of Applied Chemistry launched a bionic synthetic rubber aircraft tire. This new tire demonstrated over 35% higher service life compared to traditional aviation tires made from natural rubber, particularly under extreme working conditions. This technology mimics the molecular structure and key chemical components of natural rubber, fostering improved performance characteristics and sustainability.
Who are the Renowned Players in the Aircraft Tires Market?
The major players driving advancements and innovation in this market include:
• 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
What Is The Regional Picture of The Aircraft Tires Market?
North America held the largest share in the aircraft tires market in 2024, while Asia-Pacific emerged as the fastest-growing region. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
