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A recent report published by Infinium Global Research on aircraft tyre market provides in-depth analysis of segments and sub-segments in the global as well as regional aircraft tyre market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aircraft tyre market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global aircraft tyre market.
An aircraft tire is designed to withstand extremely heavy loads for short durations. Aircraft tires have two main functions first is supporting the weight of the aircraft on the ground and another one is providing traction for braking and stopping. Moreover, Aircraft tires are designed to support the full weight of that aircraft when the aircraft is on the ground, providing traction for braking, absorbing landing impact, and cushioning roughness during various ground operations. Aircraft tires are subjected to a wide range of static and dynamic stresses in different operating conditions, so proper maintenance is essential for them to function effectively. They are made of a special rubber compound that is both durable and flexible. The tread of an aircraft tire is designed to provide traction and dissipate heat.
Airline fleets are constantly being modernized to meet the demands of passengers and operators. Some of the key factors driving this modernization such as air travel demand, passenger comfort improvement, and operational efficiency enhancement. To improve the performance and durability of aircraft tires, manufacturers are turning to new materials, such as carbon fiber. Carbon fiber is a strong, lightweight material that offers a number of benefits Increased load capacity, Improved fuel efficiency for aircraft tires which is another factor driving the market. The factor that restrains the market is the availability of the raw material. These tires rely on specific materials, including synthetic rubber compounds, high-strength steel cords, carbon black, and various additives, to meet stringent performance and safety standards. However, the availability of these raw materials can be influenced by various factors, presenting challenges to the market. The aircraft tire market is expected to grow with increased advancements in technology and safety features. Continuous improvements in tire design and technology create a way for manufacturers to develop innovative solutions that meet the evolving needs and safety features of the aviation industry.
On the basis of the region the aircraft tire market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (ROW). Among these regions, North America is expected to dominate the market throughout the forecast period. Currently, North America held more than 50% of the global market share in 2022, with a revenue of more than USD 900 million in 2022 which is expected to reach over USD 1,400 million by 2030. Within North America, the United States held the largest share, accounting for more than 70% of the overall market in the region. In 2022, the U.S. generated revenue of more than USD 600 million, and it is expected to surpass USD 1,000 million by the end of the forecast period. The presence of major aircraft manufacturers like Boeing and Bombardier in the North American region contributes to significant demand for aircraft tires, making it a driving force in the market. As two of the largest aircraft manufacturers globally, their operations generate a substantial need for high-quality aircraft tires. This demand in North America serves as a catalyst for the growth and advancement of the aircraft tire market in the region. The Asia-Pacific region is experiencing the fastest growth in the aircraft tire market, exhibiting a compound annual growth rate (CAGR) of above 5%. China is expected to dominate the market within the Asia-Pacific region, holding over 30% of the overall share.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 1634.41 Million |
| Market Size by 2030 | USD 2478.09 Million |
| Growth Rate from 2023 to 2030 | CAGR of 5.47% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Product Type, By Platform, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global aircraft tyre market covers segments such as product type, platform, and end user. On the basis of product type, the sub-markets include radial, and bias. On the basis of platform, the sub-markets include fixed wing, and rotary. On the basis of end user, the sub-markets include commercial aviation, military and defense aviation, and general aviation.
The report provides profiles of the companies in the market such as The Goodyear Tire & Rubber Company, Bridgestone India Private Ltd., Dunlop Aircraft Tyres Limited, MICHELIN, Desser Holdings LLC, Beringer Aero, STOMIL-POZNAŃ SA, Petlas, Specialty Tires of America, Inc., and Qingdao Sentury Tire Co.Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the aircraft tyre market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
