Asia-Pacific Aircraft Tires Market Size (2024 - 2029)

The Asia-Pacific aircraft tires market is projected to experience substantial growth, driven by increasing air travel demand, rising defense spending, and heightened business aviation activities in the region. Emerging markets such as China and India are contributing significantly to this expansion, as airlines invest in new aircraft to meet the growing demand. Despite challenges posed by fluctuating raw material costs and regulatory factors, the market is poised for growth. Innovations in tire composition are expected to enhance performance and fuel efficiency, while developments in electric VTOL air taxis present new opportunities for market expansion.

Market Size of Asia-Pacific Aircraft Tires Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Asia-Pacific Aircraft Tires Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 588.36 Million
Market Size (2029) USD 800.43 Million
CAGR (2024 - 2029) 6.35 %
Market Concentration High

Major Players

Asia-Pacific Aircraft Tires Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Asia-Pacific Aircraft Tires Market Analysis

The Asia-Pacific Aircraft Tires Market size is estimated at USD 588.36 million in 2024, and is expected to reach USD 800.43 million by 2029, growing at a CAGR of 6.35% during the forecast period (2024-2029).

The Asia-Pacific aircraft tires market is expected to witness significant growth in the coming years, owing to the increasing demand for air travel, rising defense expenditures, and increased business aviation activity in the region. The region is witnessing a surge in the demand for air travel, particularly from emerging markets like China and India, with a significant population with increasing disposable income.

Various airlines are procuring new aircraft to cater to the demand driven by air travel, thus creating a demand for aircraft tires in Asia-Pacific. For instance, in the next 20 years, Asia-Pacific is expected to require 17,620 new passenger and freighter aircraft. This growth will support commercial aviation in the region to grow positively.

However, the high cost of raw materials and production of aircraft tires, which are subject to fluctuations in global oil prices, exchange rates, tariffs, and environmental regulations, may challenge the growth of the market.

Aircraft tire manufacturers are investing in rubber with new compositions that make the tires lighter, reducing fuel consumption and improving the tires' heat and pressure-bearing properties. Tire manufacturers are expected to benefit from the development of new tires for electric VTOL air taxis, which is anticipated to create new market opportunities for them.

Asia-Pacific Aircraft Tires Industry Segmentation

An aircraft tire is designed to withstand extremely heavy loads for short durations. The number of tires required for an aircraft increases with the weight of the aircraft, as the airplane’s weight needs to be distributed more evenly. Aircraft tire tread patterns are designed to facilitate stability in high crosswind conditions, to channel water away to prevent hydroplaning, and for braking effect. Aircraft tires also include fusible plugs (which are assembled on the inside of the wheels) and are designed to melt at a certain temperature. Tires often overheat if maximum braking is applied during an aborted takeoff or an emergency landing. Fuses provide a safer failure mode that prevents tire explosions by deflating in a controlled manner.

The Asia-Pacific aircraft tires market is segmented by type, end user, and geography. By type, the market is segmented into radial and bias. By end user, the market is segmented into commercial aviation, military aviation, and general aviation. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).

Type
Radial
Bias
End-user
Commercial Aviation
Military Aviation
General Aviation
Geography
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
Need A Different Region Or Segment?
Customize Now

Asia-Pacific Aircraft Tires Market Size Summary

The Asia-Pacific aircraft tires market is poised for substantial growth over the forecast period, driven by increasing air travel demand, heightened defense spending, and a surge in business aviation activities. Emerging markets such as China and India are at the forefront of this expansion, fueled by a growing population with rising disposable incomes. The region's airlines are actively procuring new aircraft to meet the burgeoning demand, thereby boosting the need for aircraft tires. The commercial aviation segment is expected to experience the highest growth rate, supported by the expansion of route networks and the proliferation of low-cost carriers. However, the market faces challenges due to the high cost of raw materials and production, which are influenced by global oil prices, exchange rates, and environmental regulations.

China's aviation industry is a key driver of market growth, with significant investments in aviation infrastructure and a robust commercial aviation segment. The country's air passenger traffic has seen remarkable growth, prompting airlines to expand their fleets and enhance market coverage. Additionally, China's military spending and development of advanced military aircraft contribute to the demand for aircraft tires. The market is consolidated, with major players like Bridgestone, Michelin, and Goodyear dominating, while MRF Limited is expected to increase its market share. The implementation of advanced technologies, such as predictive maintenance and digitalization, further enhances the competitive landscape. The market's growth is also supported by the establishment of new MRO facilities and the development of new tire compositions to meet evolving aviation needs.

Explore More

Asia-Pacific Aircraft Tires Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Radial

      2. 2.1.2 Bias

    2. 2.2 End-user

      1. 2.2.1 Commercial Aviation

      2. 2.2.2 Military Aviation

      3. 2.2.3 General Aviation

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 South Korea

      5. 2.3.5 Australia

      6. 2.3.6 Rest of Asia-Pacific

Asia-Pacific Aircraft Tires Market Size FAQs

The Asia-Pacific Aircraft Tires Market size is expected to reach USD 588.36 million in 2024 and grow at a CAGR of 6.35% to reach USD 800.43 million by 2029.

In 2024, the Asia-Pacific Aircraft Tires Market size is expected to reach USD 588.36 million.

Asia-Pacific Aircraft Tires Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)