Aerospace Tires Market
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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aerospace Tires Market, By Tire Type
5.1 Introduction
5.2 Radial Tires
5.3 Bias-Ply Tires
5.4 Solid Tires
5.5 Retreaded Tires
5.6 Other Tire Types
6 Global Aerospace Tires Market, By Aircraft Type
6.1 Introduction
6.2 Commercial Aviation
6.2.1 Narrow-Body Aircraft
6.2.2 Wide-Body Aircraft
6.2.3 Regional Jets
6.3 Military Aircraft
6.3.1 Fixed-Wing Aircraft
6.3.2 Rotary-Wing Aircraft
6.4 Regional Aircraft
6.5 Other Aircraft Types
7 Global Aerospace Tires Market, By Material Type
7.1 Introduction
7.2 Natural Rubber
7.3 Carbon Black
7.4 Silica
7.5 Aramid Fiber
8 Global Aerospace Tires Market, By Application
8.1 Introduction
8.2 Helicopters
8.3 Main Landing Gear
8.4 Nose Gear
8.5 Cargo Carriers
8.6 Other Applications
10 Global Aerospace Tires Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Michelin Aircraft Tires
12.2 Goodyear Aerospace
12.3 Bridgestone Aircraft Tire
12.4 Hainan Rubber Group
12.5 Sierra Nevada Corporation
12.6 Boeing Commercial Airplanes
12.7 Trelleborg Group
12.8 Lufthansa Technik
12.9 Airbus
12.10 Desser Tire & Rubber Co.
12.11 Continental Aerospace Technologies
12.12 GKN Aerospace
12.13 Honeywell Aerospace
12.14 Safran Landing Systems
12.15 Triumph Group
List of Tables
1 Global Aerospace Tires Market Outlook, By Region (2022-2030) ($MN)
2 Global Aerospace Tires Market Outlook, By Tire Type (2022-2030) ($MN)
3 Global Aerospace Tires Market Outlook, By Radial Tires (2022-2030) ($MN)
4 Global Aerospace Tires Market Outlook, By Bias-Ply Tires (2022-2030) ($MN)
5 Global Aerospace Tires Market Outlook, By Solid Tires (2022-2030) ($MN)
6 Global Aerospace Tires Market Outlook, By Retreaded Tires (2022-2030) ($MN)
7 Global Aerospace Tires Market Outlook, By Other Tire Types (2022-2030) ($MN)
8 Global Aerospace Tires Market Outlook, By Aircraft Type (2022-2030) ($MN)
9 Global Aerospace Tires Market Outlook, By Commercial Aviation (2022-2030) ($MN)
10 Global Aerospace Tires Market Outlook, By Narrow-Body Aircraft (2022-2030) ($MN)
11 Global Aerospace Tires Market Outlook, By Wide-Body Aircraft (2022-2030) ($MN)
12 Global Aerospace Tires Market Outlook, By Regional Jets (2022-2030) ($MN)
13 Global Aerospace Tires Market Outlook, By Military Aircraft (2022-2030) ($MN)
14 Global Aerospace Tires Market Outlook, By Fixed-Wing Aircraft (2022-2030) ($MN)
15 Global Aerospace Tires Market Outlook, By Rotary-Wing Aircraft (2022-2030) ($MN)
16 Global Aerospace Tires Market Outlook, By Regional Aircraft (2022-2030) ($MN)
17 Global Aerospace Tires Market Outlook, By Other Aircraft Types (2022-2030) ($MN)
18 Global Aerospace Tires Market Outlook, By Material Type (2022-2030) ($MN)
19 Global Aerospace Tires Market Outlook, By Natural Rubber (2022-2030) ($MN)
20 Global Aerospace Tires Market Outlook, By Carbon Black (2022-2030) ($MN)
21 Global Aerospace Tires Market Outlook, By Silica (2022-2030) ($MN)
22 Global Aerospace Tires Market Outlook, By Aramid Fiber (2022-2030) ($MN)
23 Global Aerospace Tires Market Outlook, By Application (2022-2030) ($MN)
24 Global Aerospace Tires Market Outlook, By Helicopters (2022-2030) ($MN)
25 Global Aerospace Tires Market Outlook, By Main Landing Gear (2022-2030) ($MN)
26 Global Aerospace Tires Market Outlook, By Nose Gear (2022-2030) ($MN)
27 Global Aerospace Tires Market Outlook, By Cargo Carriers (2022-2030) ($MN)
28 Global Aerospace Tires Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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