Aerospace Tires Market Forecasts to 2030 – Global Analysis By Tire Type (Radial Tires, Bias-Ply Tires, Solid Tires, Retreaded Tires and Other Tire Types), Aircraft Type, Material Typel, Application and By Geography

Aerospace Tires Market Forecasts to 2030 – Global Analysis By Tire Type (Radial Tires, Bias-Ply Tires, Solid Tires, Retreaded Tires and Other Tire Types), Aircraft Type, Material Typel, Application and By Geography

According to Stratistics MRC, the Global Aerospace Tires Market is accounted for $2.3 billion in 2024 and is expected to reach $3.3 billion by 2030 growing at a CAGR of 6.3% during the forecast period. Aerospace tires are specialized tires designed for aircraft, including both commercial and military aviation. These tires must endure extreme conditions, such as high-speed landings, varying temperatures, and heavy loads. They are engineered with advanced materials and technologies to ensure safety, durability, and performance under demanding flight and ground conditions. Aerospace tires typically feature reinforced structures to handle the stresses of takeoff, landing, and taxiing, and are subjected to rigorous testing to meet aviation industry standards.

According to data from the Aerospace Industry in the North America, the sector contributed a substantial US$151 billion to the country's export sales in 2018, primarily through its manufacturing segment. In 2019, the USA aviation industry reported approximately $387 billion in sales revenue, with aircraft exports valued at $126.5 billion.

Market Dynamics:

Driver:

Rising air passenger traffic

Rising air passenger traffic positively impacts the market by driving increased demand for aircraft maintenance, replacement, and upgrade of tires. As airlines expand their fleets and increase flight frequencies, the need for high-performance, durable tires grow. This surge in demand stimulates innovation in tire technology, efficiency, and fuel economy. Additionally, it encourages investments in tire manufacturing and research, fostering advancements that benefit the entire aerospace industry and enhance overall flight safety.

Restraint:

Stringent regulatory standards

Stringent regulatory standards can negatively impact the market by increasing production costs and complicating the manufacturing process. Compliance with rigorous safety, performance, and environmental regulations often requires significant investments in technology and testing, which can raise prices for manufacturers and, consequently, for airlines. These standards may also limit design flexibility and slow down the introduction of new technologies, potentially hindering innovation and leading to delays in tire development.

Opportunity:

Increased focus on safety

Increased focus on safety in aerospace tires enhances market growth by driving advancements in tire technology and materials. As safety becomes a top priority, manufacturers invest in innovative designs and rigorous testing protocols to ensure higher performance and reliability. This focus improves overall aircraft safety, reduces the risk of accidents, and increases operational efficiency. Enhanced safety standards also foster consumer confidence, leading to greater demand for high-quality aerospace tires and promoting industry growth.

Threat:

Fluctuating fuel prices

Fluctuating fuel prices negatively impact the market by causing instability in operational costs and affecting airline budgets. When fuel prices rise, airlines often face financial strain, leading to budget cuts and reduced spending on maintenance, including tire replacement. This can delay necessary upgrades and impact tire procurement decisions. Additionally, the uncertainty in fuel costs can hinder investment in new tire technologies and innovation, slowing advancements and potentially compromising tire performance and safety.

Covid-19 Impact:

Aerospace tires play a critical role in ensuring the safety, performance, and efficiency of aircraft. They are designed to withstand extreme conditions and provide reliable landing and takeoff capabilities. Their impact extends to enhancing overall flight safety, reducing maintenance costs through durability, and improving fuel efficiency by supporting advanced tire technologies. Additionally, the continuous innovation in aerospace tires contributes to the advancement of aviation standards, supporting both operational excellence and the growth of the aerospace industry.

The radial tires segment is expected to be the largest during the forecast period

The radial tires is expected to be the largest during the forecast period due to their steel-belted construction. They provide better load distribution, resulting in enhanced performance during takeoff and landing. Radial tires also deliver improved fuel efficiency by reducing rolling resistance, which translates to lower operating costs for airlines. Additionally, their design ensures greater stability and better handling under high-speed conditions, contributing to overall flight safety and operational reliability.

The helicopters segment is expected to have the highest CAGR during the forecast period

The helicopters segment is expected to have the highest CAGR during the forecast period due to their unique operational demands. Specialized tires provide enhanced traction, stability, and durability on varied surfaces, including rough or uneven terrain. They support safe and reliable takeoffs and landings, crucial for helicopter missions. Improved tire performance also contributes to better control and reduced maintenance needs, enhancing overall operational efficiency.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The region's advanced aerospace industry drives demand for high-performance, durable tires capable of withstanding extreme conditions and extensive use. Strong regulatory standards and a focus on innovation contribute to the development of cutting-edge tire technologies. Additionally, the growth of the aviation sector and increasing air traffic further boost the need for reliable aerospace tires.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. Expanding air travel and increasing fleet sizes drive demand for high-quality, durable tires that ensure safety and performance under diverse operating conditions. The region's focus on modernizing airport infrastructure and enhancing aviation standards further stimulates the market. Innovations in tire technology, driven by both regional and global manufacturers, play a key role in meeting the evolving needs of the sector.

Key players in the market

Some of the key players in Aerospace Tires market include Michelin Aircraft Tires, Goodyear Aerospace, Bridgestone Aircraft Tire, Hainan Rubber Group, Sierra Nevada Corporation, Boeing Commercial Airplanes, Trelleborg Group, Lufthansa Technik, Airbus, Desser Tire & Rubber Co., Continental Aerospace Technologies, GKN Aerospace, Honeywell Aerospace, Safran Landing Systems and Triumph Group.

Key Developments:

In April 2024, Honeywell and ITP Aero, a world-leading aerospace propulsion company, have announced plans to create a new authorized service center for Honeywell’s F124-GA-200 aircraft engines. The agreement supports Honeywell’s alignment with the megatrend of the future of aviation.

In January 2024, Michelin and BRM AERO, a producer of general aviation luxury light sport aircraft, announced an exclusive 100% OEM partnership for global retail sales. This new agreement continues to expand Michelin’s commitment to a strong partnership with the general aviation industry globally.

Tire Types Covered:
• Radial Tires
• Bias-Ply Tires
• Solid Tires
• Retreaded Tires
• Other Tire Types

Aircraft Types Covered:
• Commercial Aviation
• Military Aircraft
• Regional Aircraft
• Other Aircraft Types

Material Types Covered:
• Natural Rubber
• Carbon Black
• Silica
• Aramid Fiber

Applications Covered:
• Helicopters
• Main Landing Gear
• Nose Gear
• Cargo Carriers
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements