Market Size of Europe Aircraft Tires Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 475.33 Million |
| Market Size (2029) | USD 670.07 Million |
| CAGR (2024 - 2029) | 7.11 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aircraft Tires Market Analysis
The Europe Aircraft Tires Market size is estimated at USD 475.33 million in 2024, and is expected to reach USD 670.07 million by 2029, growing at a CAGR of 7.11% during the forecast period (2024-2029).
The European aviation industry is evolving rapidly, and airlines are expanding their aircraft fleet size to catch up with the demand for air travel. The procurement of new-generation aircraft in the commercial and military sectors is one of the major reasons for the growth of the aircraft tires market in the region.
Designing and constructing aircraft tires that meet the stringent requirements imposed by different agencies poses an exceedingly formidable challenge. All tires must undergo rigorous testing procedures that necessitate the use of costly equipment to obtain certification. Before receiving official certification, a diverse range of testing tools must be employed on an aircraft tire.
The European aircraft tires market is negatively affected by macroeconomic factors that affect the market players and render them vulnerable to liquidity and cash flow disruptions. This also affects their profitability and R&D initiatives.
The commercial and military aircraft fleets of various countries are experiencing growth. There has been a significant expansion in the size of commercial airline fleets, encompassing narrow-body aircraft, wide-body aircraft, and regional transport aircraft across different nations. This trend can be attributed to the global demand for air travel, particularly in the emerging economies within the region.
Urban air mobility and advanced air mobility solutions exhibit tremendous potential in addressing the congestion issue. The increasing utilization of these mobility solutions presents an opportunity to develop advanced tires that are tailored to meet the requirements of these airborne vehicles.
