Aircraft Tires Market: Major Trends Reshaping the Future of the Industry

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What Will the Aircraft Tires Industry Market Size Be by 2025?
In recent times, the market for aircraft tires has witnessed considerable growth. The market is expected to expand from $1.96 billion in 2024 to $2.05 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%. Factors such as aircraft fleet expansion, increased global air travel, monitoring of runway conditions, military modernization, and the advent of smart tires, are responsible for this growth experienced in the historic period.

What's the Long-Term Growth Forecast for the Aircraft Tires Market Size Through 2029?
In the upcoming years, the aircraft tires market is projected to witness robust expansion. The market is expected to reach $2.59 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this projected growth in the forecast period include innovative tire materials, changes in aircraft design, urban air mobility (UAM), sustainable aviation, and expansion into space tourism and exploration. Significant trends during the forecast period encompass technological progression, the use of advanced composite materials, the development of high-speed landing gear, enhanced tire tread design, and tires designed for noise reduction.

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What Are the Key Growth Drivers Fueling the Aircraft Tires Market Expansion?
The aircraft tires market is being propelled by the escalating number of both domestic and international air travellers. This surge in air passenger numbers necessitates the production of additional aircraft to satisfy demand, implicating a consequent increase in aircraft tire usage. Moreover, the frequent replacement of tires due to constant wear and tear from multiple landings also spurs the market. As per the International Civil Aviation Organization (ICAO), it is anticipated that the worldwide airline passenger count will hit 10.5 billion by 2040. In addition, according to the 2020-2039 Boeing commercial market outlook, India's domestic air passenger market has been forecasted to grow two-fold by 2030, compared to pre-pandemic parameters. Consequently, the burgeoning number of both domestic and international air travellers contributes to the growth of the aircraft tires market.

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What Are the Key Trends Driving Aircraft Tires Market Growth?
The aircraft tires market is seeing a growing trend of technological advancements. Producers of aircraft tires are placing a significant emphasis on crafting tires with greater efficiency, extended lifespan, and enhanced resistance. For example, in December 2023, the Changchun Institute of Applied Chemistry, a branch of the Chinese Academy of Sciences, released a bionic synthetic rubber aviation tire. These new tires boast a service life over 35% longer than conventional aviation tires, which are made from natural rubber, especially under harsh operational circumstances. This is made possible by the technology imitating the molecular composition and crucial chemical elements of natural rubber, thereby improving performance elements while still being environmentally friendly.

How Is the Aircraft Tires Market Segmented?
The aircraft tires market covered in this report is segmented -

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

Subsegments:
1) By Radial Tires: Radial Aircraft Tires for Commercial Jets, Radial Aircraft Tires for Military Aircraft, Radial Aircraft Tires for General Aviation
2) By Bias Tires: Bias Aircraft Tires for Commercial Jets, Bias Aircraft Tires for Military Aircraft, Bias Aircraft Tires for General Aviation

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Which Companies Are Leading the Charge in Aircraft Tires Market Innovation?
Major companies operating in the aircraft tires 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, Trelleborg AB, China National Tire & Rubber Co., Tost GmbH Flugzeuggeratebau, Compagnie Generale Des Etablissements Michelin, Polymer Enterprises Inc., Maxam Tire North America Inc., Stomil-Poznan SA, Airframes Alaska Co., Condor Flugdienst GmbH, Aero Tyre Trading FZC, Michelin Aircraft Tire Company, Techking Tires Limited, Nokian Tyres plc, Titan International Inc., Jenoptik AG

Which Regions Are Leading the Global Aircraft Tires Market in Revenue?
North America was the largest region in the aircraft tires market in 2024. Asia-Pacific was the fastest growing market in aircraft tires market. The regions covered in the aircraft tires market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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