Europe Aircraft Tires Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 475.33 Million |
| Market Size (2029) | USD 670.07 Million |
| CAGR (2024 - 2029) | 7.11 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Aircraft Tires Market Analysis
The Europe Aircraft Tires Market size is estimated at USD 475.33 million in 2024, and is expected to reach USD 670.07 million by 2029, at a CAGR of 7.11% during the forecast period (2024-2029).
The European aviation industry is evolving rapidly, and airlines are expanding their aircraft fleet size to catch up with the demand for air travel. Procuring new-generation aircraft in the commercial and military sectors is one of the primary reasons for the growth of the aircraft tire market in the region.
Designing and constructing aircraft tires that meet the stringent requirements imposed by different agencies poses an exceedingly formidable challenge. All tires must undergo rigorous testing procedures that require costly equipment to obtain certification. Before receiving official accreditation, a diverse range of testing tools must be employed on an aircraft tire.
The European aircraft tire market is negatively affected by macroeconomic factors that affect the market players and render them vulnerable to liquidity and cash flow disruptions. This also affects their profitability and R&D initiatives.
The commercial and military aircraft fleets of various countries are experiencing growth. There has been a significant expansion in the size of commercial airline fleets, encompassing narrow-body aircraft, wide-body aircraft, and regional transport aircraft across different nations. This trend can be attributed to the global demand for air travel, particularly in the emerging economies within the region.
Urban air mobility and advanced air mobility solutions exhibit tremendous potential in addressing the congestion issue. The increasing utilization of these mobility solutions presents an opportunity to develop advanced tires tailored to meet these airborne vehicles' requirements.
Europe Aircraft Tires Market Trends
Commercial Aviation Segment to Register the Highest Growth During the Forecast Period
Commercial aviation leads the market and will remain dominant in the coming years. As air passenger traffic rises, airlines are expanding and launching new routes, fueling the demand for new aircraft. The success of low-cost carriers (LCC) in emerging markets has notably boosted sales of single-aisle aircraft. Additionally, there's a growing demand for wide-body aircraft catering to longer routes.
With the procurement of new aircraft, there's a simultaneous surge in demand for new tires. For example, in January 2024, Lufthansa ordered 40 Boeing 737-8 MAX and 40 Airbus A220-300, with an option to purchase 120 more short and medium-haul aircraft. This move marks the company's most significant fleet modernization to date. The A220s, destined for Lufthansa's newly established City Airlines, are expected to be delivered by 2026. Michelin supplies NZG radial tires for the A220, while Dunlop and Goodyear Tire Company provide tires for the B737 Max.
In September 2023, Air France inked a deal with Airbus for 50 A350s, with an option for 40 additional units. Designed to enhance aerodynamics and reduce fuel emissions, these A350s boast a composite makeup of 53%-54%. Bridgestone is the chosen tire supplier for these A350s. Furthermore, in December 2023, Air France took delivery of its inaugural A320neo, which commenced operations in January 2024. Goodyear Tire Company supplies flight radial tires for the main and nose landing gear of the A320s.
Given the robust demand for diverse aircraft types, tire manufacturers are forging partnerships with aircraft OEMs to capture a larger market share. For instance, in June 2023, Goodyear announced its selection by Airbus to supply tires for the upcoming A321XLR, slated to enter passenger service in 2024. Such collaborations and developments underscore the growing demand for aircraft tires in the commercial aviation sector in the coming years.
The United Kingdom is Expected to Dominate the Market During the Forecast Period
The United Kingdom's aerospace industry is a testament to its advanced technological prowess and production capabilities. Consistent and substantial investments in aerospace research and development underpin this leadership position. Such commitments cement the UK's status as a global aerospace leader and pave the way for key suppliers of aircraft and components from allied nations. The UK has further entrenched its influence in the global aerospace arena through significant procurement and modernization initiatives in both commercial and military aviation.
As air travel surges, so does passenger traffic, propelling the market's momentum. In response, airlines are placing orders for new aircraft, fueling this growth. A case in point: In December 2023, EasyJet inked a deal with Airbus for 157 A320neo aircraft, complemented by 100 purchase rights. This strategic move, part of EasyJet's fleet modernization, aims to phase out older A319s and a considerable segment of the A320ceo fleet. The newly acquired A320neo aircraft will be equipped with advanced tires, like the flight radial tires for both main and nose landing gear, sourced from Goodyear Tire Company, further propelling the market growth.
Shifting the focus to the military domain, the UK's increased defense spending, driven by the need to enhance military capabilities and respond to shifting geopolitical landscapes and terrorism threats, plays a pivotal role. In 2023, defense spending reached around USD 74.9 billion, a 7.9% rise from USD 68.5 billion in 2022. This uptick in the defense budget fuels various modernization projects. Highlighting this, in June 2023, Lockheed Martin Corporation handed over two F-35B Lightning II stealth multirole combat aircraft to the UK Royal Air Force, part of a broader order of 48 F-35Bs meant for the Royal Air Force and the Royal Navy.
Moreover, the burgeoning general aviation market in the UK, spurred by an increase in high-net-worth individuals (HNWIs) opting for business jets, drives the demand for aircraft tires. In 2023, the UK witnessed 23 business jet deliveries, a 15% increase from the previous year. Such trends are poised to bolster the demand for aircraft tires in the UK in the coming years.
Europe Aircraft Tires Industry Overview
The European aircraft tires market is semi-consolidated. Some prominent European aircraft tire market companies are Bridgestone Corporation, Michelin Group, Goodyear Tire and Rubber Company, Wilkerson Corp. (Parker-Hannifin Corporation), and Dunlop Aircraft Tyres Limited.
In the commercial and military segments, Michelin Group and Goodyear Tire and Rubber Company are the major players in the market. These companies are investing substantially in developing advanced products and technologies that may be used in the current and upcoming aircraft. Their focus on innovation is aimed at meeting the evolving needs of the aviation industry.
Moreover, tire companies are strategically expanding their footprint to capture the growing market demand. For instance, in September 2024, Russia announced that it had imported a variety of Western aircraft tires, including products from renowned brands such as Michelin, Dunlop, Goodyear, and Bridgestone, with a total import value exceeding USD 30 million. This demonstrates the increasing globalization of the aircraft tire market and established industry leaders' preference for high-quality products.
Europe Aircraft Tires Market Leaders
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Goodyear Tire and Rubber Company
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Dunlop Aircraft Tyres Limited
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Bridgestone Corporation
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Michelin Group
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Wilkerson Corp.
*Disclaimer: Major Players sorted in no particular order
Europe Aircraft Tires Market News
- January 2024: Michelin forged a 100% OEM partnership with BRM AERO, a luxury light sport aircraft manufacturer for general aviation, to oversee global retail sales exclusively.
- June 2023: Goodyear Tire and Rubber Company revealed at the Paris Air Show that its flight radial tires are standard equipment on the Airbus A321XLR, slated to enter service in 2024. According to the company, the tires have already secured system part certification from Airbus.
Europe Aircraft Tires 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 Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Radial
5.1.2 Bias
5.2 By Supplier Type
5.2.1 OEM
5.2.2 Aftermarket
5.3 By End User
5.3.1 Commercial Aviation
5.3.2 Military Aviation
5.3.3 General Aviation
5.4 By Country
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 France
5.4.4 Russia
5.4.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bridgestone Corporation
6.2.2 Michelin Group
6.2.3 Goodyear Tire & Rubber Company
6.2.4 Dunlop Aircraft Tyres Limited
6.2.5 Wilkerson Corp.
6.2.6 Petlas Tire Corporation
6.2.7 Desser Holdings LLC
6.2.8 Qingdao Sentury Tire Co. Ltd
6.2.9 Aviation Tires & Treads LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Aircraft Tires Industry Segmentation
Aircraft tires are engineered to endure substantial loads, albeit for brief periods. As an aircraft's weight increases, so does its tire requirement, ensuring an even weight distribution. The tread patterns on aircraft tires are meticulously crafted to enhance stability during high crosswinds, channel water to avert hydroplaning, and optimize braking efficiency. Additionally, aircraft tires are equipped with fusible plugs, installed internally within the wheels and calibrated to melt at specific temperatures. Given that tires can overheat during maximum braking scenarios, such as aborted takeoffs or emergency landings, these fuses serve a critical safety function. They mitigate the risk of tire explosions by allowing for controlled deflation.
The European aircraft tire market is segmented based on type, supplier, end user, and geography. By type, the market has been divided into radian and bias. By supplier, the market has been divided into OEM and aftermarket. By end user, the market has been segmented into commercial, military, and general aviation. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).
| By Type | |
| Radial | |
| Bias |
| By Supplier Type | |
| OEM | |
| Aftermarket |
| By End User | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| By Country | |
| Germany | |
| United Kingdom | |
| France | |
| Russia | |
| Rest of Europe |
Europe Aircraft Tires Market Research Faqs
How big is the Europe Aircraft Tires Market?
The Europe Aircraft Tires Market size is expected to reach USD 475.33 million in 2024 and grow at a CAGR of 7.11% to reach USD 670.07 million by 2029.
What is the current Europe Aircraft Tires Market size?
In 2024, the Europe Aircraft Tires Market size is expected to reach USD 475.33 million.
Who are the key players in Europe Aircraft Tires Market?
Goodyear Tire and Rubber Company, Dunlop Aircraft Tyres Limited, Bridgestone Corporation, Michelin Group and Wilkerson Corp. are the major companies operating in the Europe Aircraft Tires Market.
What years does this Europe Aircraft Tires Market cover, and what was the market size in 2023?
In 2023, the Europe Aircraft Tires Market size was estimated at USD 441.53 million. The report covers the Europe Aircraft Tires Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Aircraft Tires Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Aircraft Tires Industry Report
Statistics for the 2024 Europe Aircraft Tires market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Aircraft Tires analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
