+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Aircraft Tires Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • PDF Icon


  • 100 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4515791
UP TO OFF until Mar 31st 2024
The aircraft tires market is poised to witness a CAGR of over 5% during the forecast period (2022-2027).

The COVID-19 pandemic severely impacted the commercial aviation industry, like the temporary ban on air travel, which led to a decrease in passenger traffic and aircraft movements in 2020. Due to this, the airlines have canceled and postponed aircraft deliveries to mitigate their losses, impacting the entire supply chain associated with the aircraft models. However, in 2021, as the passenger traffic and aircraft movements recovered slightly, the aircraft tires market also witnessed growth.

Passenger traffic is recovering gradually and is expected to reach pre-COVID levels by 2023. With the demand for air travel returning to pre-COVID levels, the airlines are expanding their route networks, and new airlines are introducing new domestic routes. Such plans are expected to accelerate the growth of the market.

Likewise, the growing procurement of newer generation aircraft by the armed forces globally has also increased the demand for new tires.

Key Market Trends

Commercial Aviation Segment Expected to Witness the Highest CAGR During the Forecast Period

The commercial aviation segment currently dominates the market due to higher deliveries of new commercial aircraft and higher flight hours compared to military and general aviation aircraft. As the commercial aviation sector began to recover from the impact of COVID-19 in 2021 gradually and the approval of the Boeing 737 MAX into service from various aviation regulatory authorities, aircraft delivery witnessed significant growth. In this regard, Airbus delivered 611 aircraft in 2021, up from 566 in 2020, whereas Boeing delivered 340 aircraft in 2021 against 157 in 2020. The fleet modernization plans of airlines have led to a surge in the number of aircraft orders. With the higher flight activity of the commercial aircraft, the wear and tear of tires are higher, thereby generating demand for aftermarket tires. The airlines are partnering with aircraft tire manufacturers to support the regular tire replacement demand. For instance, in September 2021, Michelin North America collaborated with Hope Aero and signed an agreement with Flair Airlines, the flag carrier of Canada. According to the agreement, Michelin will deliver tires for the entire Boeing 737 aircraft fleet of Flair Airlines. Such demand for aftermarket tires from various airlines and aircraft operators is anticipated to accelerate the segment's growth during the forecast period.

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

Over the past few years, major countries like China, India, and Japan have witnessed a rapid increase in passenger traffic, resulting in large orders for new aircraft from airlines operating in the region. Despite the COVID-19 pandemic in the Asia-Pacific aviation industry, domestic passenger traffic gradually grew in 2021. Due to this, the domestic and regional airlines have been rapidly increasing their fleet and implementing them into network routes. Also, several airlines are currently in plans to launch new services in the coming years. Such robust procurements are anticipated to propel the growth of the market. For instance, in April 2021, Air Premia selected Michelin as the exclusive tire supplier for its entire Boeing 787-9 fleet. Under the agreement, the company will equip the airline’s Boeing 787-9 fleet with MICHELIN AIR X tires that feature its patented Near Zero Growth (NZG) technology. The increasing military spending in the region fueled by growing political tensions is also accelerating the investments of armed forces into the modernization of their aircraft fleet through new-generation military aircraft procurements. Such developments are anticipated to boost the growth of the market in the region during the forecast period.

Competitive Landscape

The aircraft tires market is a consolidated market with few players accounting for the majority share in OEM and aftermarket segments. The prominent players in the aircraft tires market include Bridgestone Corporation, Manufacture Francaise des Pneumatiques Michelin (Michelin), Goodyear Tire and Rubber Company (Goodyear), Dunlop Aircraft Tyres Limited, and Specialty Tires of America Inc. Michelin, Dunlop Aircraft Tyres Ltd, and Goodyear are the major players in the commercial and military segments, owing to their high brand value and long-term agreements with the aircraft OEMs. For instance, besides commercial aircraft sales, Goodyear is a major tire supplier to the United States Department of Defense (DoD), which provides approximately 90,000 aircraft and ground vehicle tires every year. The tires are delivered under DoD Global Tire Program (GTP) with an average annual contract worth USD 48 million. The aircraft tire manufacturers are investing in rubber with new compositions that make them lighter (decrease fuel consumption) and further enhance heat and pressure-bearing properties. Also, the development of new tires for electric VTOL air taxis is anticipated to open new market opportunities for tire manufacturers.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
1.3 Currency Conversion Rates for USD
3.1 Market Size and Forecast, Global, 2018 - 2027
3.2 Market Share by Type, 2021
3.3 Market Share by Supplier, 2021
3.4 Market Share by End User, 2021
3.5 Market Share by Geography, 2021
3.6 Structure of the Market and Key Participants
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size and Forecast by Value - USD million, 2018 - 2027)
5.1 Type
5.1.1 Radial
5.1.2 Bias
5.2 Supplier
5.2.1 OEM
5.2.2 Aftermarket
5.3 End User
5.3.1 Commercial Aviation
5.3.2 Military Aviation
5.3.3 General Aviation
5.4 Geography
5.4.1 North America United States Canada
5.4.2 Europe United Kingdom France Germany Russia Rest of Europe
5.4.3 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.4 Latin America Brazil Rest of Latin America
5.4.5 Middle-East and Africa United Arab Emirates Saudi Arabia Turkey Rest of Middle-East and Africa
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bridgestone Corporation
6.2.2 Manufacture Francaise des Pneumatiques Michelin
6.2.3 Goodyear Tire & Rubber Company
6.2.4 Specialty Tires of America Inc.
6.2.5 Dunlop Aircraft Tyres Limited
6.2.6 Wilkerson Company Inc.
6.2.7 Petlas Tire Industry and Trade
6.2.8 Sentury Tire Co. Ltd

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bridgestone Corporation
  • Manufacture Francaise des Pneumatiques Michelin
  • Goodyear Tire & Rubber Company
  • Specialty Tires of America Inc.
  • Dunlop Aircraft Tyres Limited
  • Wilkerson Company Inc.
  • Petlas Tire Industry and Trade
  • Sentury Tire Co. Ltd