Aircraft Tires Market - Growth, Trends, and Forecast (2020 - 2025)

The Aircraft Tires Market is segmented by Type (Radial, Bias), Supplier (OEM, Aftermarket), End-User (Commercial, Military, General Aviation), and Geography.

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

Greater Than 3.5 %

Major Players:

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Market Overview

The aircraft tires market is anticipated to register a CAGR of over 3.5% during the forecast period.

  • The procurement of newer generation aircraft in the commercial and military sectors, is one of the major reasons for the development of the aircraft tires market.
  • With the intent of increasing air travel, the airlines are making plans to operate in new destinations and travel routes. This is expected to make the commercial segment to grow with the highest CAGR, during the forecast period. 
  • The long-term contracts with the existing top players in the market is expected to act as a barrier for the entry of new players into the market.

Scope of the Report

The aircraft tires market includes the tires used in military, commercial, and general aviation aircraft. The market study also includes the sales of retreaded tires and aftermarket sales of tires.

Type
Radial
Bias
Supplier
OEM
Aftermarket
End-User
Commercial
Military
General Aviation
Geography
North America
United States
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Europe
United Kingdom
Germany
France
Rest of Europe
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Qatar
Rest of Middle-East and Africa

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Key Market Trends

Commercial Segment to Experience the Highest Growth During the Forecast Period

The commercial segment of the market, currently, has the highest market share, and is expected to register the highest CAGR during the forecast period. There is a steep rise in air travel in the past five years. Airlines, in order to increase their market dominance, are expanding and introducing new routes, which has generated the demand for new aircraft. Additionally, the growing success of LCC in emerging economies has also increased the sales of single-aisle aircraft, over the years. In addition to these, the demand for wide-body aircraft has been increasing for longer routes. Procurement of new aircraft will simultaneously generate the demand for new tires. Also, aircraft tires are subjected to a high amount of impact force on landing, as they, unlike the other land vehicle tires, are prone to high impact velocities. The tire also has to bear the whole weight of the aircraft, during contact with the land surface, making them more susceptible to wear and tear. This generates the need for replacing the tires of commercial aircraft, after more than 200 landings, in order to avoid accidents due to wear and tear of tires, which will further strengthen the growth of the aftermarket segment of commercial aircraft tires.

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Asia-Pacific Region to Experience the Highest Growth During the Forecast Period

The Asia-Pacific region is anticipated to have the highest growth during the forecast period. Airlines in this region are investing to procure newer generation aircraft. The growing tourism in countries, like China, India, Indonesia, Singapore, South Korea, Malaysia, Thailand, Australia, and Vietnam, has increased the passenger traffic of this region. The aviation market in the Asia-Pacific region is expected to move ahead of the North American aviation market in the next few years. Sensing potential in the aviation market of Asia-Pacific, several companies are expanding their operations in this region. For instance, in March 2018, Lufthansa Group announced its plans to expand its operation in countries, like China, Japan, Southeast Asia, and India. Additionally, the poor connectivity between the metros and smaller cities, have led to growth in the general aviation segment of the region. With increasing military spending, fueled by growing political tension in the region, on-going procurements of military aircraft, along with increasing manufacturing capabilities of the region are boosting the growth of the region, during the forecast period.

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Competitive Landscape

The prominent players in the market of aircraft tires are Bridgestone Corporation, Michelin, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., and Dunlop Aircraft Tyres Limited. In the commercial and military segments, Michelin and Goodyear Tire and Rubber Company are the major players in the market, owing to their high brand value and long-term contracts, with the aircraft OEMs. Additionally, the investments of the companies in the tires for flying taxis or flying cars, which is currently in its initial stages, is expected to help the companies to maintain a prominent position in the market. Recently, Goodyear introduced its latest concept, AERO, a concept tire for autonomous and flying cars at the 2019 Geneva International Motor Show, with advanced features, like multimodal design, non-pneumatic structure, magnetic propulsion, optical sensing, and artificial intelligence. Such new concepts of tires are expected to attract new customers and help the companies gain a competitive advantages over others.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Radial

      2. 5.1.2 Bias

    2. 5.2 Supplier

      1. 5.2.1 OEM

      2. 5.2.2 Aftermarket

    3. 5.3 End-User

      1. 5.3.1 Commercial

      2. 5.3.2 Military

      3. 5.3.3 General Aviation

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Latin America

        1. 5.4.2.1 Brazil

        2. 5.4.2.2 Mexico

        3. 5.4.2.3 Rest of Latin America

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Europe

        1. 5.4.4.1 United Kingdom

        2. 5.4.4.2 Germany

        3. 5.4.4.3 France

        4. 5.4.4.4 Rest of Europe

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Qatar

        4. 5.4.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Bridgestone Corp

      2. 6.2.2 Cie Gnrl des Etblsmnts Michelin SCA

      3. 6.2.3 Goodyear Tire & Rubber Co

      4. 6.2.4 Specialty Tires of America, Inc.

      5. 6.2.5 Dunlop Aircraft Tyres Limited

      6. 6.2.6 WILKERSON COMPANY, INC.

      7. 6.2.7 Petlas Tire Corporation

      8. 6.2.8 Desser Holdings LLC

      9. 6.2.9 Qingdao Sentury Tire Co., Ltd.

      10. 6.2.10 Aviation Tires & Treads LLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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