Aircraft Tire Market Size Estimated at USD 19.12 Billion in 2024, Projected to Surpass USD 37 Billion by 2031 | Persistence Market Research Report

Overview of the Aircraft Tyres Market

The global aircraft tyres market is poised for substantial growth in the coming years, reflecting the upward trajectory of global aviation. In 2024, the market is valued at US$19.12 billion, and it is projected to reach US$37.22 billion by 2031, expanding at a CAGR of 6.2%. This growth is largely driven by the increase in air passenger traffic, fleet expansion by airlines, and the development of advanced tire technologies designed for improved performance and safety.

The commercial aviation segment leads the market due to the surge in low-cost carriers and frequent flyer demand, particularly in Asia Pacific and North America. Regionally, Europe is expected to be the most lucrative market during the forecast period, thanks to its robust aerospace infrastructure, continuous investments in defense and commercial aircraft, and growing modernization initiatives.

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🔑 Key Highlights from the Report

• The aircraft tyre market is set to grow at a 6.2% CAGR from 2024 to 2031.
• The market is expected to increase from US$19.12 Bn (2024) to US$37.22 Bn (2031).
• Europe is projected to be the most lucrative regional market.
• The commercial aviation sector drives maximum demand for aircraft tyres.
• Advancements in smart tire technologies are fueling innovation and adoption.
• OEM and aftermarket channels both show strong potential for market expansion.

Market Segmentation

The aircraft tyre market is segmented by aircraft type, ply type, and sales channel. In terms of aircraft type, narrowbody aircraft and medium/large widebody aircraft dominate due to high commercial usage. Specialized categories like helicopters, defense aircraft, and freighters also contribute significantly, particularly in the OEM segment, where new aircraft construction demands robust, certified tires.

By ply type, the market is split into bias ply and radial ply. Radial ply tyres are gaining traction due to their higher durability and performance advantages. Meanwhile, in terms of sales channel, both OEM and aftermarket segments are vital. OEMs support new aircraft production, while the aftermarket thrives on regular tire replacements for in-service aircraft, ensuring safe operation and regulatory compliance.

Regional Insights

North America is expected to grow at a CAGR of 6.1%, underpinned by a flourishing aerospace manufacturing base and rising international travel. The region's strong focus on R&D, especially in the USA, along with its established aviation infrastructure, positions it as a pivotal market.

Europe, led by countries like France, Germany, and the UK, is emerging as the most lucrative regional market. Its well-developed aerospace sector, increasing defense procurements, and modernization of military and commercial fleets fuel growth in the region. Substantial investments in new aircraft-like F-35 jets and Boeing 777x models-are expanding demand for high-quality aircraft tyres.

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Market Drivers

The primary market driver is the rise in global air passenger traffic. Growing urbanization, higher disposable incomes, and the expansion of low-cost carriers are increasing the number of flights, subsequently boosting the demand for aircraft tyres. Every takeoff and landing cycle requires high-quality tires capable of withstanding intense pressure, friction, and weight.

Another significant driver is technological advancement in tyre manufacturing. Innovations such as smart tire technologies, TPMS (Tire Pressure Monitoring Systems), and composite materials enhance tire performance, longevity, and fuel efficiency. These improvements appeal to both commercial airlines and defense organizations looking to optimize aircraft efficiency and safety.

Market Restraints

Despite the optimistic outlook, the market faces several restraints, particularly the complexity of regulatory compliance. Aircraft tyres must meet stringent certification and quality standards imposed by international and regional aviation authorities. This compliance burden often requires heavy investment in testing, slowing time-to-market for new products.

Additionally, raw material price volatility-especially for rubber, carbon black, and steel cords-poses challenges. Since tyre production heavily depends on these resources, fluctuations in global supply or costs can significantly affect manufacturing profitability and overall market stability.

Market Opportunities

The expansion of the commercial aviation sector offers lucrative opportunities for tyre manufacturers. As airlines scale up fleets to accommodate surging passenger volumes, the demand for OEM tyres naturally grows. Moreover, the rise in defense aircraft acquisition by governments worldwide further expands the addressable market.

Another major opportunity lies in the technological advancements in tyre materials and manufacturing. From developing lighter, fuel-efficient tyres to incorporating real-time health monitoring sensors, companies can differentiate their offerings. These innovations not only improve aircraft performance but also position manufacturers as leaders in a highly competitive market.

✔ Reasons to Buy the Report

✔ In-depth analysis of current and projected aircraft tyre market trends
✔ Detailed segmentation by aircraft type, ply type, and sales channel
✔ Regional insights to guide global and localized investment strategies
✔ Competitive landscape with profiles of key players and recent developments
✔ Identification of emerging opportunities driven by smart tyre technologies

# Frequently Asked Questions (FAQs)

What is the projected growth rate of the aircraft tyres market from 2024 to 2031?
How big is the aircraft tyres market in 2024 and what will it be by 2031?
Who are the key players in the global aircraft tyres market?
What is the aircraft tyres market forecast for 2032 and beyond?
Which region is expected to dominate the aircraft tyres industry during the forecast period?

🏢 Company Insights

Key Players Operating in the Market:

1. Michelin
2. Bridgestone Corporation
3. Goodyear Tire & Rubber Company
4. Dunlop Aircraft Tyres Ltd.
5. Specialty Tires of America
6. Wilkerson Company, Inc.
7. Aviator Aerospace
8. Petlas Tire Corporation
9. SMT Aircraft Tyre Company Limited
10. Aviation Tires & Treads, LLC

Recent Developments:

• Bridgestone unveiled a new aircraft tyre technology incorporating advanced materials to improve performance, safety, and fuel efficiency.

• Goodyear announced a major production capacity expansion to meet rising demand, with new facilities and upgraded equipment being introduced.

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✈ Analyst's Overview

The aircraft tyres market is set to experience sustained and accelerating growth over the forecast period, driven by a combination of expanding commercial and defense aviation sectors. Innovations in tyre technology, growing airline fleets, and regulatory mandates around safety and performance are pushing tyre manufacturers to innovate continuously. The shift toward smart, fuel-efficient, and lightweight tyres is not just a market trend-it's a necessity in an increasingly competitive and sustainability-focused aerospace landscape.

⚙ Supply Chain and Competitive Dynamics

The market's supply dynamics are shaped by a few dominant global players such as Michelin, Bridgestone, and Goodyear, who control much of the manufacturing and distribution. These companies benefit from economies of scale, robust R&D pipelines, and strong relationships with aircraft OEMs and airlines.

Barriers to entry remain high, given the strict regulatory standards and significant capital required for tire manufacturing and testing. However, ongoing investment in R&D, strategic partnerships, and sustainability initiatives are enabling top players to maintain leadership while responding to the dynamic needs of the aviation sector.

Final Thoughts

The aircraft tyres market is in the midst of a transformative phase, driven by both demand-side pressures and supply-side innovations. As air travel continues to recover and expand globally, especially post-pandemic, the need for high-performance, safe, and environmentally friendly tyres will continue to grow. With strong tailwinds from the commercial and defense aviation sectors, this market offers promising opportunities for both established giants and emerging innovators in the tyre manufacturing industry.

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