The global aircraft tire market size is expected to reach USD 2.68 billion by 2030, registering a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Tires are a crucial part of aircraft as they are engineered to withstand high speeds during take-off, heavy loads, and the intense heat generated by braking systems during landing. They help maintain the aircraft’s overall weight at the time of takeoff and landing. They absorb vibrations and impact forces, thus ensuring safe ground contact and providing cushioning to the aircraft.

Due to technological advancements in production techniques and raw materials, key companies are producing more fuel-efficient and eco-friendly tires. This is expected to drive the demand for eco-friendly tires over the forecast period. For instance, in June 2023, Michelin launched "Michelin Air X Sky Light Tire." This new segment is lighter, more durable, fuel-efficient, and eco-friendly, as it causes lower CO2 emissions.

Gather more insights about the market drivers, restrains and growth of the Aircraft Tire Market

The global aircraft tire industry is also growing due to regular replacement of tires to comply with stringent rules and regulations related to the maintenance and safety of aircraft. The global cargo and passenger air traffic are major market drivers as the growing demand for air travel requires more number of fleets as well as more tire replacements.

Aircraft Tire Market Report Highlights:

• Based on product, the radial segment dominated the market with the largest revenue share of around 70% in 2023. This segment is also expected to grow at the fastest CAGR from 2024 to 2030 as radial tires provide better fuel efficiency, longer tread life, and improved durability than cross-ply tires. Their radial construction allows for even distribution of load and heat across the surface, which results in an extended lifespan
• The cross-ply segment is anticipated to grow significantly over the forecast period. Cross-ply tires can handle rough and unpaved runways as their robust construction offers improved resistance to cuts and impacts. Cross-ply tires are used in military, cargo, and regional aircraft that operate in challenging environments
• Based on end use, the commercial segment dominated the market with the largest revenue share of around 52% in 2023, owing to the growth in passenger and freight traffic. With increasing per capita income worldwide, the demand for new aircraft and cargo services is also increasing, which is expected to drive segmental growth. The operational intensity of commercial aircraft necessitates durable tires that can withstand rigorous use
• North America aircraft tire market dominated the global industry with the largest revenue share of around 50% in 2023. The regional market is driven by the high demand for passenger transportation and the presence of major airline manufacturers, such as Boeing, Lockheed Martin, and Northrop Grumman, among others

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List of Key Players in the Aircraft Tire Market

• Qingdao Sentury Tire Co., Ltd.
• Petlas
• Specialty Tires of America
• Dunlop aircraft tires
• Compagnie Generale Des Etablissements Michelin
• Bridgestone Corporation
• Desser Holdings LLC
• Aviation Tires & Treads, LLC
• The Goodyear Tire and Rubber Company
• Wilkerson Company, Inc.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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