How big is the Aircraft Tires Market?

The Aircraft Tires Market size is expected to reach USD 2.35 billion in 2024 and grow at a CAGR of 4.38% to reach USD 2.91 billion by 2029. Read More

What is the current Aircraft Tires Market size?

In 2024, the Aircraft Tires Market size is expected to reach USD 2.35 billion. Read More

Who are the key players in Aircraft Tires Market?

Bridgestone Corporation, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Michelin and Dunlop Aircraft Tyres Ltd are the major companies operating in the Aircraft Tires Market. Read More

Which is the fastest growing region in Aircraft Tires Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Aircraft Tires Market?

In 2024, the North America accounts for the largest market share in Aircraft Tires Market. Read More

What years does this Aircraft Tires Market cover, and what was the market size in 2023?

In 2023, the Aircraft Tires Market size was estimated at USD 2.25 billion. The report covers the Aircraft Tires Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Tires Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Aircraft Tire Market - Size, Trends & Industry Report

Aircraft Tire Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Aircraft Tire Market Report is Segmented by Type (radial and Bias), Supplier (OEM and Aftermarket), End User (commercial Aviation, Military Aviation, and General Aviation), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecasts for all the Above Segments in Value (USD).

Aircraft Tire Industry Overview

The aircraft tires market is consolidated, with few players accounting for the majority share in OEM and aftermarket segments. The prominent players in the market include Bridgestone Corporation, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Dunlop Aircraft Tyres Ltd, and Michelin, amongst others.

These market players dominate market share due to their high brand value and long-term agreements with aircraft OEMs. For instance, besides commercial aircraft sales, Goodyear is a major tire supplier to the US Department of Defense (DoD). It provides approximately 90,000 aircraft and ground vehicle tires every year. The tires are delivered under the DoD Global Tire Program (GTP) with an average annual contract worth USD 48 million.

The aircraft tire manufacturers are investing in rubber with new compositions that make them lighter (decrease fuel consumption) and further enhance heat and pressure-bearing properties. Also, the development of new tires for electric VTOL air taxis is anticipated to open new market opportunities for tire manufacturers. In addition to this, due to increasing demand for local manufacturing, players are setting up new manufacturing plants to increase the production of tires at local levels.

On this note, in July 2022, Bridgestone announced plans to consolidate some of its manufacturing for aircraft tire retreading in the Asia-Pacific region. To optimize the manufacturing of retreaded aircraft tires in the Asia-Pacific region, Bridgestone consolidated production at BAA (Bridgestone Aircraft Tire Company Asia) into its Chonburi, Thailand, facility (BAMT). It currently manufactures retreaded aircraft tires. Such developments are anticipated to help the companies increase their geographical presence over the coming years.