Aircraft tires are one of the vital components of aircraft which play significant role in takeoff and landing operations. Aircraft tires provide proper support to the overall bodyweight of an aircraft. Companies involved in the manufacture of aircraft tires are investing heavily in its development which is anticipated to account for large investment in aerospace industry. With the increasing emphasis on meeting requirements of environment regulatory bodies, aerospace companies are making a great effort to manufacture eco-friendly aircraft tires complied with the regional standard regulations.
According to FMI report, by the end of 2026, the aircraft tires sales estimated to record US$ 1.9 Bn worth in global market and expected to register moderate CAGR of 4% during the forecast period.
What are the dynamic factors to propel the demand for aircraft tires?
- Strong focus to integrate innovative technologies in manufacturing techniques of aircraft tires
- Increasing demand for high quality aircraft tires to prevent risk of tire popping
- Increasing adoption of mixing hybrid composite materials into feedstock in manufacturing of advanced aircraft tires
- Increasing demand for light weight aircraft tires to lower overall bodyweight of an aircraft
- Increasing production of aircraft with the increasing airline passengers
What are the restraining factors to impede aircraft tires market growth?
- Increasing ban on the use of PAH (polycyclic aromatic hydrocarbon) content base oil in tire manufacturing
- Rising concern on disposal and reuse of worn out rubber products
- Enforcement of stringent regulations in the production of aircraft tires
Why demand for bias ply aircraft tires is relatively high?
Aircraft tires are mainly available into two type, bias ply and radial ply aircraft tires. The enhanced strength, ground traction and stability is highly achieved by bias ply designed aircraft tires than the radial ply ones. With the rising concern over aircraft and passengers safety, end-users are more inclined towards adoption of bias ply aircraft tires thereby, expected to account for maximum value shares during the forecast period.
Which aircraft production offers robust growth for aircraft tire sales?
Aircraft tires are widely used in all types of aircrafts regardless of size and shape of aircraft body. This includes small widebody, medium/ large widebody, narrowbody aircraft, propeller aircraft, helicopter, freighters, defense and homeland security aircraft. Among these, production of narrowbody aircraft is highly likely to grow rapidly with the increasing number of airline passengers in the near future. Thereby, aircraft tire manufacturers are expected to account for aircraft tire sales worth US$ 950 Mn in this segment by the end of forecast period. Moreover, depending upon the replacement rate of aircraft tires, aftermarket sale is expected to witness remarkable growth when compared with the OEMs.
What is the market scenario geographically?
Large amount of aircraft sale is observed to be concentrated in the North America. The market players are expected to account for revenue worth US$ 600 Mn in this region by the end of 2026. The Asia-Pacific excluding Japan (APEJ) is expected to present significant opportunities for aircraft tires manufacturers for its provision of favorable industrial regulations and easy availability of raw material.
Some of the major aircraft tire manufacturers such as Goodyear Tire & Rubber Company, Bridgestone Corporation, Compagnie Générale des Établissements Michelin and Polymer Enterprises Inc., are expected to remain as a forefront of global market expansion in the near future.
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