Global Aircraft Tires Market Outlook for 2025: Projected to Reach $2.05 Billion, Driven by Fleet Expansion and Global Air Travel Trends
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What Does The Global Aircraft Tires Market Report Forecast For 2025?
The global aircraft tires market size is anticipated to grow exponentially from $1.96 billion in 2024 to $2.05 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.0%. This strong historic growth can be accredited to various factors including aircraft fleet expansion, surge in global air travel, runway condition monitoring, military modernization, and smart tires among others. Looking ahead, the aircraft tires market size is projected to further grow to $2.59 billion by 2029 at a compound annual growth rate (CAGR) of 6.0%. This future growth is expected to be driven by innovative tire materials, emerging aircraft designs, urban air mobility (uam), sustainability in aviation, and trends in space tourism and exploration. Key trends emerging in this forecast period encompass technological advancements, advanced composite materials, high-speed landing gear adaptations, tire tread design optimization, and noise reduction tires.
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Which Factors Contributing to the Growth of the Aircraft Tires Market?
The surge in the number of both domestic as well as international air passengers significantly propels the growth of the aircraft tires market. With the increase in air passenger movements, there is a growing need to manufacture new aircraft thereby bolstering the use of aircraft tires. The frequent wear and tear caused by endless landings further escalates the market demand. For instance, as per the International Civil Aviation Organization (ICAO), we can expect to see about 10.5 billion global airline passengers by 2040. As reported by Boeing 2020–2039 commercial market outlook, India’s domestic air passenger traffic is expected to double by 2030 from pre-pandemic levels. Therefore, the escalating number of air passengers is propelling the aircraft tires market.
How is the Global Aircraft Tires Market Segmented?
The segments analyzed in the aircraft tires market report include:
1) By Product: Radial, Bias
2) By Platform: Fixed Wing, Rotary Wing
3) By Application: Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft, Narrow Body Aircraft
4) By End-user: OEM, Retread Tires, Replacement Tires
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Who Are The Major Players in the Aircraft Tires Market?
The global aircraft tires market sees significant presence of notable companies including Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co. Ltd., Wilkerson Company Inc., Desser Tire & Rubber Co. LLC, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads LLC, Trelleborg AB, China National Tire & Rubber Co., among others.
What Are The Key Trends in the Aircraft Tires Market?
Innovative technological advancements are rapidly emerging as a key trend in the aircraft tires market. To extend the longevity of the tires, enhance efficiency and improve resistance, manufacturers focus on developing advanced tires. For example, Changchun Institute of Applied Chemistry of the Chinese Academy of Sciences launched bionic synthetic rubber aviation tire in December 2023. These new tires offer over 35% improved service life compared to typical aviation tires made of natural rubber, particularly under extreme working conditions.
Which Region is the Largest and Fastest Growing in The Aircraft Tires Market?
In 2024, North America dominated the global aircraft tires market. However, the Asia-Pacific region is anticipated to emerge as the fastest growing market for aircraft tires. The report covers comprehensive information on the market performance across regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Aircraft Tires Market Report 2025 Offer?
The Aircraft Tires Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Aircraft tires, usually built with rubber, are a staple for every aircraft providing necessary traction for braking and stopping, cushioning road shocks and supporting the aircraft’s weight while on the ground.
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