Aircraft Tire Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.35 Billion |
| Market Size (2029) | USD 2.91 Billion |
| CAGR (2024 - 2029) | 4.38 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aircraft Tire Market Analysis
The Aircraft Tires Market size is estimated at USD 2.35 billion in 2024, and is expected to reach USD 2.91 billion by 2029, growing at a CAGR of 4.38% during the forecast period (2024-2029).
The aircraft tire market is primarily driven by the increasing demand for air travel worldwide, fuelled by rising disposable incomes and globalization. As airlines are expanding their fleets, there is a greater need for aircraft tires to support these larger numbers of flights and aircraft movements. There is an increase in the order book of aircraft (business jet, commercial, or military aircraft) or as a replacement for the tire for the existing aircraft fleet.
Technological advancements in tire materials and designs are enhancing the durability, performance, and safety of aircraft tires. Tire manufacturers are investing in research and development to build tires that can withstand the rigorous demands of aircraft operations, including heavier loads, higher speeds, and diverse operating conditions.
However, the aircraft tire market faces challenges, particularly in environmental sustainability and regulatory compliance. There is growing pressure on the aviation industry to reduce its carbon footprint. It includes adopting sustainable practices throughout the supply chain, including tire manufacturing and disposal of tires. Additionally, stringent safety regulations and certification requirements impose additional burdens on tire manufacturers and suppliers.
The aircraft tire market presents numerous opportunities for growth in the development of tires for electric and hybrid-electric propulsion aircraft. As the adoption of these aircraft increases and they enter commercial service, the demand for specialized tires to support them is expected to increase.
Aircraft Tire Market Trends
Commercial Aviation Segment Will Showcase Remarkable Growth During the Forecast Period
By end user, the commercial aviation market is expected to witness significant growth during the forecast period. The increasing number of commercial aircraft deliveries in various countries owing to the growing air passenger traffic is the main reason for the growth of the market during the forecast period. In 2023, Boeing delivered 528, and Airbus delivered 735 aircraft compared to 480 and 663, respectively. In December 2022, Airbus received orders for 807 aircraft (gross orders) from 16 different customers. Airbus reported a new industry backlog record of 8,598 jets in December 2023, of which 7,797 were A220 and A320ceo/neo narrowbodies. Airbus’ old record was set in August 2023, when the company reported a backlog of 8,024 jets.
On the other hand, the fleet modernization plans of airlines led to a surge in the number of aircraft orders. With the higher flight activity of commercial aircraft, the wear and tear of tires are higher, thereby generating demand for aftermarket tires. Various global airlines are partnering with aircraft tire manufacturers to support the regular tire replacement demand. It will lead to a growth in aircraft tires for commercial aviation during the forecast period.
Asia-Pacific is Expected to Grow with the Highest CAGR During the Forecast Period
Over the past few years, major countries like China, India, and Japan witnessed a rapid increase in passenger traffic, resulting in large orders for new aircraft from airlines operating in the region. According to the International Air Transport Association (IATA), air travel in Asia will be greater than the next two biggest markets, North America and Europe, by 2030. With such a high rate of growth in terms of passenger traffic, the airlines in the region need to procure new aircraft to cater to the increasing demand.
The countries in the Asia-Pacific region are procuring aircraft on a large scale, even for military activities. As of November 2022, India witnessed an increase in the number of daily air passenger traffic and departures. For November 2022, the daily passenger traffic recorded in India accounted for 409,831 passengers and 2739 departures. The increasing passenger traffic in the Asia-Pacific region also led to various airline companies acquiring new aircraft with advanced features to cater to such rising demands.
In addition, various aviation tire manufacturers, such as Dunlop and Bridgestone, amongst others, are now engaged in manufacturing advanced aircraft tires. These products will be more durable and can withstand longer airplane take-offs and departures before needing to be replaced. Thus, such developments will lead to the market witnessing growth during the forecast period.
Aircraft Tire Industry Overview
The aircraft tires market is consolidated, with few players accounting for the majority share in OEM and aftermarket segments. The prominent players in the market include Bridgestone Corporation, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Dunlop Aircraft Tyres Ltd, and Michelin, amongst others.
These market players dominate market share due to their high brand value and long-term agreements with aircraft OEMs. For instance, besides commercial aircraft sales, Goodyear is a major tire supplier to the US Department of Defense (DoD). It provides approximately 90,000 aircraft and ground vehicle tires every year. The tires are delivered under the DoD Global Tire Program (GTP) with an average annual contract worth USD 48 million.
The aircraft tire manufacturers are investing in rubber with new compositions that make them lighter (decrease fuel consumption) and further enhance heat and pressure-bearing properties. Also, the development of new tires for electric VTOL air taxis is anticipated to open new market opportunities for tire manufacturers. In addition to this, due to increasing demand for local manufacturing, players are setting up new manufacturing plants to increase the production of tires at local levels.
On this note, in July 2022, Bridgestone announced plans to consolidate some of its manufacturing for aircraft tire retreading in the Asia-Pacific region. To optimize the manufacturing of retreaded aircraft tires in the Asia-Pacific region, Bridgestone consolidated production at BAA (Bridgestone Aircraft Tire Company Asia) into its Chonburi, Thailand, facility (BAMT). It currently manufactures retreaded aircraft tires. Such developments are anticipated to help the companies increase their geographical presence over the coming years.
Aircraft Tire Market Leaders
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Bridgestone Corporation
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Goodyear Tire and Rubber Company
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Specialty Tires of America Inc.
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Michelin
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Dunlop Aircraft Tyres Ltd
*Disclaimer: Major Players sorted in no particular order
Aircraft Tire Market News
- June 2023: Airbus selected Goodyear to supply the tires for the new A321XLR, which will be carrying passengers as of 2024. The Airbus A321XLR aircraft will be fitted with Goodyear’s Flight Radial Tire, one of the most advanced aviation tires offered by Goodyear.
- June 2023: Michelin launched new radial tire technology developed for the commercial aviation sector. Michelin claims that the Air X Sky Light tire is 10-20% lighter than the previous-generation tire and delivers enhanced performance in terms of landing per tread (LPT). It results in a reduced amount of maintenance and lower transportation costs.
Aircraft Tire Market Report - Table of Contents
1. Introduction
1.1 Study Assumptions
1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1 Type
5.1.1 Radial
5.1.2 Bias
5.2 Supplier
5.2.1 OEM
5.2.2 Aftermarket
5.3 End User
5.3.1 Commercial Aviation
5.3.2 Military Aviation
5.3.3 General Aviation
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Mexico
5.4.4.2 Brazil
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 South Africa
5.4.5.4 Rest of Middle East and Africa
6. Competitive Landscape
6.1 Vendor Market Share
6.2 Company Profile*
6.2.1 Bridgestone Corporation
6.2.2 Michelin
6.2.3 Goodyear Tire & Rubber Company
6.2.4 Specialty Tires of America, Inc.
6.2.5 Dunlop Aircraft Tyres Ltd
6.2.6 Wilkerson Company, Inc.
6.2.7 Petlas
6.2.8 Sentury Tire USA
7. Market Opportunities and Future Trends
Aircraft Tire Industry Segmentation
An aircraft tire is designed to withstand extremely heavy loads for short durations. The number of tires required for an aircraft increases with the weight of the aircraft, as the weight of the airplane needs to be distributed more evenly. Aircraft tire tread patterns are designed to facilitate stability in high crosswind conditions, to channel water away to prevent hydroplaning, and for braking effect.
Aircraft tires also include fusible plugs (which are assembled on the inside of the wheels) and are designed to melt at a certain temperature. Tires often overheat if maximum braking is applied during an aborted takeoff or an emergency landing. The fuses provide a safer failure mode that prevents tire explosions by deflating in a controlled manner.
The aircraft tire market is segmented by type, supplier, end user, and geography. By type, the market is segmented into radial and bias. By supplier, the market is segmented into OEM and aftermarket. By end-user, the market is segmented into commercial aviation, military aviation, and general aviation. The report also covers the market sizes and forecasts for the aircraft tire market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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| OEM | |
| Aftermarket |
| End User | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
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Aircraft Tire Market Research FAQs
How big is the Aircraft Tires Market?
The Aircraft Tires Market size is expected to reach USD 2.35 billion in 2024 and grow at a CAGR of 4.38% to reach USD 2.91 billion by 2029.
What is the current Aircraft Tires Market size?
In 2024, the Aircraft Tires Market size is expected to reach USD 2.35 billion.
Who are the key players in Aircraft Tires Market?
Bridgestone Corporation, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Michelin and Dunlop Aircraft Tyres Ltd are the major companies operating in the Aircraft Tires Market.
Which is the fastest growing region in Aircraft Tires Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aircraft Tires Market?
In 2024, the North America accounts for the largest market share in Aircraft Tires Market.
What years does this Aircraft Tires Market cover, and what was the market size in 2023?
In 2023, the Aircraft Tires Market size was estimated at USD 2.25 billion. The report covers the Aircraft Tires Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Tires Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aircraft Tire Industry Report
Statistics for the 2024 Aircraft Tire market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aircraft Tire analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
