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    Aircraft Tires Market Size

    Aircraft Tires Market Size
    Report code - SRAD189 Published On : Jan,2022 No. of Pages: 125
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    Aircraft Tires Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppor See more...

    Market Insights

    Aircraft tires are difficult to design since they must avoid explosions to prevent damage to the aircraft. Maintaining stability, carrying huge weight at fast speeds, and giving effective braking capabilities are the major expectations from aircraft tires. As an aircraft's weight increases, the number of tires required grows as the weight must be spread more evenly. Aircraft tires are designed to carry heavy weights for short periods. Increasing air passenger traffic over the past two eons paired with frequent takeoffs & landings make the tire more important and indispensable focus area of the entire aerospace community.

    The COVID-19 outbreak has brought forth several unprecedented challenges before aircraft and airline companies with thousands of planes were grounded around the world, devastating their profits and balance sheets and sending them at least a decade back. Tires, one of the most pivotal parts of aircraft, endured a heavy decline of over 40% in its demand in the year 2020.

    The aerospace industry was already started marching towards the path of recovery. However, the emergence of new COVID-19 variants is affecting its growth trajectories and delaying the overall recovery period. It is still uncertain that when the commercial aerospace industry will hit back its peak level of 2018. However, the entire industry stakeholders are highly resilient and have been accustomed to such fatal market environments. It is anticipated that the commercial aerospace industry stakeholders will emerge again and create gargantuan opportunities before market stakeholders. The Aircraft Tires Market will follow a similar path of air passenger traffic and will register an uncharted growth trajectory in the coming years by recording a promising CAGR of 6.1% to reach a market value of US$ 3.1 Billion in 2027. The recovery trajectory of tires would be different for different regions as well as aircraft types. The report identifies and discusses the short-term as well as long-term opportunities for the market participants across segments, helping them to build their strategies targeting high-growth market segments.

    Segments' Analysis

    Aircraft Tires Market Share by Aircraft Type

    Based on the aircraft type, the aircraft tires market is segmented as commercial aircraft, regional aircraft, military aircraft, helicopter, and general aviation. During the projection period, commercial aircraft will continue to lead the market. An expected recovery in air passenger traffic is likely to imprint a positive impact across the supply chain including the demand for tires. An expected rise in flying activity paired with higher wear and tear of tires is likely to drive the demand for tires at the aftermarket level. Continuous rise in military aircraft production is further estimated to drive the demand for tires in the years to come.

    Aircraft Tires Market Share by Tire Type

    Based on the tire type, the market is segmented as radial tire and bias tire. Radial tire is expected to remain the dominant as well as the faster-growing tire type in the market during the forecast period. The demand for radial tires is driven by continuous innovations targeting a reduction in weight, increased durability, and mobility. These aspects enable companies to improve fuel efficiency, tire life, and passenger comfort, resulting in higher usage of radial tires in the industry.

    Aircraft Tires Market Share by End-User Type

    Based on the end-user type, the market is segmented as OE and aftermarket. Aftermarket is expected to remain the dominant segment of the market during the forecast period. The long service life of aircraft requires a large number of tires throughout its lifetime. Aircraft tires are subjected to operate in extreme temperatures and pressure. Tires continuously degrade during takeoff and landings. Takeoff is the most common cause of wear & tear of tires as the aircraft is fully loaded with fuel, passengers, and luggage. Tires are already pre-heated by taxiing on the runway, making takeoff more crucial leading to the wearing of tires, creating a greater demand for tires.

    Regional Insights

    In terms of regions, Asia-Pacific is expected to remain the largest market for aircraft tires during the forecast period. Major countries in the region (China, India, Japan, Singapore, and South Korea) have a large fleet of aircraft in order to meet the large passenger traffic. Furthermore, these countries also generate a sustained demand for new aircraft to address the incessant rise in passenger traffic. North America and Europe are other markets and are likely to generate a sizeable demand for tires in the years to come.

    Key Players

    The market for tires for the aerospace industry is different than those tire markets used in other industries. One of the major reasons for the difference is its competitive landscape. The market is highly consolidated with a bunch of players securing the huge pie of the market. The following are the key players in the aircraft tires market.

    • Compagnie Generale Des Etablissements Michelin S.C.A.
    • Bridgestone Corporation
    • The Goodyear Tire & Rubber Company
    • Dunlop Aircraft Tyres Ltd.
    • Mitas a.s. (a Trelleborg A.B. company)
    • Kumho Tire Co. Inc.
    • Petlas Tire Corporation
    • Qingdao Sentury Tire Co., Ltd.
    • Specialty Tires of America
    • Wilkerson Company, Inc.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft tires market realities and future market possibilities for the forecast period of 2022 to 2027.

    The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The aircraft tires market is segmented into the following categories. 

    Aircraft Tires Market, by Aircraft Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Tires Market, by Tire Type

    • Radial Tire (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Bias Tire (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Tires Market, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Tires Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Turkey, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, The UAE, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The aircraft tires market is estimated to grow at a CAGR of 6.1% over the next five years to reach US$ 3.1 Billion in 2027.

    Compagnie Generale Des Etablissements Michelin S.C.A., Bridgestone Corporation, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Kumho Tire Co. Inc., Mitas a.s. (a Trelleborg A.B. company), Petlas Tire Corporation, Qingdao Sentury Tire Co., Ltd., Specialty Tires of America, and Wilkerson Company, Inc. are the leading players in the aircraft tires market.

    Asia-Pacific is estimated to remain dominant in the aircraft tires market in the foreseen future. China, Japan, Korea, and India are the leading demand generators of tires in the region.

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