Market Size of Aircraft Tires Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.35 Billion |
| Market Size (2029) | USD 2.91 Billion |
| CAGR (2024 - 2029) | 4.38 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aircraft Tire Market Analysis
The Aircraft Tires Market size is estimated at USD 2.35 billion in 2024, and is expected to reach USD 2.91 billion by 2029, growing at a CAGR of 4.38% during the forecast period (2024-2029).
The aircraft tire market is primarily driven by the increasing demand for air travel worldwide, fuelled by rising disposable incomes and globalization. As airlines are expanding their fleets, there is a greater need for aircraft tires to support these larger numbers of flights and aircraft movements. There is an increase in the order book of aircraft (business jet, commercial, or military aircraft) or as a replacement for the tire for the existing aircraft fleet.
Technological advancements in tire materials and designs are enhancing the durability, performance, and safety of aircraft tires. Tire manufacturers are investing in research and development to build tires that can withstand the rigorous demands of aircraft operations, including heavier loads, higher speeds, and diverse operating conditions.
However, the aircraft tire market faces challenges, particularly in environmental sustainability and regulatory compliance. There is growing pressure on the aviation industry to reduce its carbon footprint. It includes adopting sustainable practices throughout the supply chain, including tire manufacturing and disposal of tires. Additionally, stringent safety regulations and certification requirements impose additional burdens on tire manufacturers and suppliers.
The aircraft tire market presents numerous opportunities for growth in the development of tires for electric and hybrid-electric propulsion aircraft. As the adoption of these aircraft increases and they enter commercial service, the demand for specialized tires to support them is expected to increase.
