Europe Aircraft Tires Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 475.33 Million |
| Market Size (2029) | USD 670.07 Million |
| CAGR (2024 - 2029) | 7.11 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Aircraft Tires Market Analysis
The Europe Aircraft Tires Market size is estimated at USD 475.33 million in 2024, and is expected to reach USD 670.07 million by 2029, growing at a CAGR of 7.11% during the forecast period (2024-2029).
The European aviation industry is evolving rapidly, and airlines are expanding their aircraft fleet size to catch up with the demand for air travel. The procurement of new-generation aircraft in the commercial and military sectors is one of the major reasons for the growth of the aircraft tires market in the region.
Designing and constructing aircraft tires that meet the stringent requirements imposed by different agencies poses an exceedingly formidable challenge. All tires must undergo rigorous testing procedures that necessitate the use of costly equipment to obtain certification. Before receiving official certification, a diverse range of testing tools must be employed on an aircraft tire.
The European aircraft tires market is negatively affected by macroeconomic factors that affect the market players and render them vulnerable to liquidity and cash flow disruptions. This also affects their profitability and R&D initiatives.
The commercial and military aircraft fleets of various countries are experiencing growth. There has been a significant expansion in the size of commercial airline fleets, encompassing narrow-body aircraft, wide-body aircraft, and regional transport aircraft across different nations. This trend can be attributed to the global demand for air travel, particularly in the emerging economies within the region.
Urban air mobility and advanced air mobility solutions exhibit tremendous potential in addressing the congestion issue. The increasing utilization of these mobility solutions presents an opportunity to develop advanced tires that are tailored to meet the requirements of these airborne vehicles.
Europe Aircraft Tires Market Trends
Commercial Aviation Segment to Experience the Highest Growth During the Forecast Period
Commercial aviation dominates the market, and it is projected to retain its market share during the forecast period. Airlines are expanding and introducing new routes to increase their market dominance, thus generating demand for new aircraft. The increasing success of LCC in emerging economies has also increased the sales of single-aisle aircraft over the years. The demand for wide-body aircraft for longer routes has also been increasing. The procurement of new aircraft is expected to generate demand for new tires simultaneously.
The market for narrow-body aircraft is anticipated to rebound faster than for wide-body aircraft. The B737 MAX's return to service may also support the expansion of the narrow-body market. Such developments are expected to drive market demand. During the forecast period, more than 13,000 passenger aircraft and 260 freighter aircraft are expected to be delivered globally.
In June 2023, Goodyear announced that Airbus selected it to supply tires for the new A321XLR, which is set to carry passengers in 2024. Airbus A321XLR will be fitted with Goodyear’s flight radial tires. Such developments will drive the demand for aircraft tires in the commercial aviation segment during the forecast period.
The United Kingdom is Anticipated to Dominate the Market During the Forecast Period
The United Kingdom has a mature aerospace industry with robust technological and production capabilities. The dominance of the United Kingdom in the market is attributed to the consistent R&D investments in the aerospace domain, which has enabled some other partnering countries to emerge as vital suppliers of aircraft and related parts, materials, components, and systems worldwide. The country has also initiated procurement and modernization of aircraft on both commercial and military fronts.
For instance, in July 2022, the UK's IAG ordered 37 Airbus A320neo family aircraft. The orders will be delivered between 2025 and 2028 to replace A320ceo family aircraft in its short-haul fleet.
The United Kingdom is also procuring 54 helicopters, including 40 AH-64E multi-mission rotorcraft and 14 CH-47 transport helicopters. All the rotorcrafts are scheduled to be delivered by 2028. Such developments are expected to drive the demand for aircraft tires in the country during the forecast period.
Europe Aircraft Tires Industry Overview
The European aircraft tires market is semi-consolidated. Some of the prominent companies in the European aircraft tires market are Bridgestone Corporation, Michelin Group, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., and Dunlop Aircraft Tyres Limited.
In the commercial and military segments, Michelin Group and Goodyear Tire and Rubber Company are the major players in the market. These companies are investing heavily in the R&D of advanced products and technologies that may be used in the current and upcoming aircraft.
Tire manufacturing companies and aircraft OEMs generally favor long-term contracts. For instance, in 2021, Dunlop Aircraft Tyres, a tire-manufacturing company in Birmingham, England, announced its collaboration with Faradair on the development of a new, more sustainable aircraft tire as part of the UK's commitment to achieving net zero emissions.
Europe Aircraft Tires Market Leaders
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Goodyear Tire and Rubber Company
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Specialty Tires of America Inc.
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Dunlop Aircraft Tyres Limited
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Bridgestone Corporation
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Michelin Group
*Disclaimer: Major Players sorted in no particular order
Europe Aircraft Tires Market News
June 2023: Goodyear Tire and Rubber Company announced at the Paris Air Show that its flight radial tires will be standard equipment on the Airbus A321XLR when it enters service in 2024. As per the company, the tires have already received system part certification from Airbus.
April 2022: Goodyear Tire and Rubber Company announced that as part of its target to produce tires from all sustainable materials, it will develop military aircraft tires from a domestic source of natural rubber produced from dandelions. The tires will be made from a specific species of dandelion known as the Taraxacum kok-saghyz.
Europe Aircraft Tires Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Radial
- 5.1.2 Bias
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5.2 By Supplier Type
- 5.2.1 OEM
- 5.2.2 Aftermarket
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5.3 By End User
- 5.3.1 Commercial Aviation
- 5.3.2 Military Aviation
- 5.3.3 General Aviation
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5.4 By Country
- 5.4.1 Germany
- 5.4.2 United Kingdom
- 5.4.3 France
- 5.4.4 Italy
- 5.4.5 Russia
- 5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 Bridgestone Corporation
- 6.2.2 Michelin Group
- 6.2.3 Goodyear Tire & Rubber Company
- 6.2.4 Specialty Tires of America Inc.
- 6.2.5 Dunlop Aircraft Tyres Limited
- 6.2.6 Wilkerson Company Inc.
- 6.2.7 Petlas Tire Corporation
- 6.2.8 Desser Holdings LLC
- 6.2.9 Qingdao Sentury Tire Co. Ltd
- 6.2.10 Aviation Tires & Treads LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEurope 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 (assembled on the inside of the wheels), and they are designed to melt at a certain temperature. Tires often overheat if maximum braking is applied during an aborted takeoff or an emergency landing. The fuses provide a safer failure mode that prevents tire explosions by deflating in a controlled manner.
The European aircraft tire market is segmented based on type, supplier, end user, and geography. By type, the market has been divided into radian and bias. By supplier, the market has been divided into OEM and aftermarket. By end user, the market has been 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 size is provided in terms of value (USD).
| By Type | Radial |
| Bias | |
| By Supplier Type | OEM |
| Aftermarket | |
| By End User | Commercial Aviation |
| Military Aviation | |
| General Aviation | |
| By Country | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Aircraft Tires Market Research FAQs
How big is the Europe Aircraft Tires Market?
The Europe Aircraft Tires Market size is expected to reach USD 475.33 million in 2024 and grow at a CAGR of 7.11% to reach USD 670.07 million by 2029.
What is the current Europe Aircraft Tires Market size?
In 2024, the Europe Aircraft Tires Market size is expected to reach USD 475.33 million.
Who are the key players in Europe Aircraft Tires Market?
Goodyear Tire and Rubber Company, Specialty Tires of America Inc., Dunlop Aircraft Tyres Limited, Bridgestone Corporation and Michelin Group are the major companies operating in the Europe Aircraft Tires Market.
What years does this Europe Aircraft Tires Market cover, and what was the market size in 2023?
In 2023, the Europe Aircraft Tires Market size was estimated at USD 441.53 million. The report covers the Europe Aircraft Tires Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Aircraft Tires Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Aircraft Tires Industry Report
Statistics for the 2024 Europe Aircraft Tires market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Aircraft Tires analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
