Aircraft Tire Market Growth – Key Futuristic Trends And Competitive Landscape 2021-2031

ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global aircraft tire market for the forecast period 2021-2031. According to the report, the market is expected to post impressive gains, expanding at a CAGR exceeding 6% throughout the forecast period. Increasing production of narrowbody and widebody aircrafts are spurring demand.

The market posted steady growth in historical period, backed by the high demand of bias ply aircraft ties from military aviation industry. Consistent demand for narrowbody aircrafts backed by the high demand from defense and military sector across the U.S., India, China, and Germany bolstered the market growth.

Competitive advantage of bias ply over radial ply in providing higher strength, stability and ground traction will continue to fuelling the demand for former over the forecast period. Besides this, a key trend gripping the aircraft tires landscape is the drive towards attaining sustainability in manufacturing of aircraft tires.

Surging adoption of high performance material such as Kevlar is a notable development in this regard, with key players emphasizing on attributes including sustainably sourced raw material to manufacture their products. 

For instance, Bridgestone Corporation are using Kevlar in the manufacturing of its narrowbody military aircrafts, while another leading player Goodyear Tire and Rubber Company is conducting R&D activities to incorporate new innovation in the manufacturing of its bias ply aircraft tires.

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Key Takeaways from FMI’s Aircraft Tire Market Study

  • In terms of ply type, bias ply aircraft tires are expected to remain dominant
  • Narrowbody aircraft tires are expected to witness higher growth backed by the high production of military aircrafts
  • Demand for aircraft tires to witness high growth across aftermarket segment
  • The U.S. is expected to be the most lucrative market across North America
  • China is anticipated to lead the Asia Pacific aircraft tire market, registering impressive growth through 2031
  • Germany and the U.K. are expected to lead Europe’s aircraft tire market over the forecast period

“Advanced technology and increasing investment in the research & development activities for developing fuel efficient and light weight aircraft is improving the demand of aircraft tires, creating impressive growth opportunities for key players,” says the FMI analyst. 

Who is Winning?

Fierce competition within the market have led the key players to adopt numerous organic and inorganic strategies to maintain the lead. Product expansion, technological innovations, research & development activities, targeted mergers & acquisition are few of the strategies manufacturers rely upon among others.

Goodyear Tire & Rubber Company, one of the world’s largest tire company, in October 2020 announced KADEX Aero Supply as its aviation distributor, a Canadian aviation parts distributor company. Though this partnership, Goodyear aims to expand its footprints in Canada.

Dunlop Aircraft Tyres Limited (DATL), another prominent player, recently invested US4invested US$ 70.92 million in an aircraft tyre retreading factory in Karawang, West Java, Indonesia. Also, DATL has announced to start up a new aircraft tyre production plant in the same location to expand their customer base.

Some of the leading aircraft tire companies profiled by FMI include Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, Dunlop Aircraft Tyres Limited, and Polymer Enterprises Inc. among others.

More Insights on the Global Aircraft Tire Market

In its latest study, Future Market Insights gives a detailed insight on the global aircraft tire market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of aircraft type (small widebody aircraft, medium/ large widebody aircraft, narrowbody aircraft, propeller aircraft, helicopter, defense and homeland security aircraft, freighters), ply type (bias ply and radial ply), sales channel (original equipment manufacturers (OEM) and aftermarket), and region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

Aircraft Tire Market – Report Scope

AttributeDetails
Forecast Period2021-2031
Historical Data Available for2016-2020
Market AnalysisUS$ Mn for Value & Units for Volume
Key Regions CoveredNorth America, Latin America, Europe, Asia Pacific and  Middle East & Africa
Key Countries CoveredUS, Canada, Brazil, Mexico, Argentina, Germany, UK, Spain, France, Italy, Russia, India, China, Japan, South Korea, the Philippines, Malaysia, Thailand, Australia, New Zealand, GCC, Turkey, Israel, Turkey, Iran and South Africa
Key Segments CoveredAircraft Type, Ply Type, Sales Channel, and Region
Key Companies ProfiledBridgestone Corporation Goodyear Tire & Rubber Company Compagnie Générale des Établissements Michelin Dunlop Aircraft Tyres Limited, Polymer Enterprises Inc.
Report CoverageMarket Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis
Customization & PricingAvailable upon Request

Enquiry before Buying

  • Is the market research conducted by Future Market Insights? Yes, the report has been compiled by expert analysts of Future Market Insights, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
  • What research methodology is followed by Future Market Insights? FMI follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
  • Who are the respondents for primary research? FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
  • What are the sources of secondary research? FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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