Commercial Aviation Aircraft Tires Market - Forecasts from 2022 to 2027

The global commercial aviation aircraft tires market was evaluated at US$1.232 billion for the year 2020, growing at a CAGR of 3.14%, reaching a market size of US$1.531 billion by the year 2027.

An aircraft tire is a special kind of tire specially designed for different types of aircraft ranging from military jets, private jets, cargo planes, and commercial jets, among others. These tires are made of rubber and are designed in such a manner that offers high stability in crosswind conditions and also to channel away from the water primarily to prevent hydroplaning and also to enhance the braking effect.

The primary factor driving the commercial aviation aircraft tires market growth includes the growing aviation industry globally and the growing investments by major airline companies in procuring new generation aircraft. Air travel globally is growing, which may be due to the growing tourism sector, growing disposable income, growth in business travel and medical tourism, and others. The market is also poised to show significant growth on account of the presence of stricter regulations regarding the maintenance and operations of aircraft tires by several government organizations across the different countries of the world. However, the outbreak of COVID-19 is expected to hamper the market growth to some extent, especially during the short run.

Growing air passenger traffic

The primary factor that is supplementing the market growth for commercial aviation aircraft tires is the constantly growing air passenger traffic around the globe. This, in turn, has further led to an upsurge in the frequency of flights from one destination to another. Also, the growing participation of airline companies with an aim for the expansion of their flight routes to new countries is also expected to increase air travel. All such factors have led to an increased frequency of tire replacement owing to the fact that the lifespan of these tires is limited to several landings. Furthermore, there has been a constant increase in passengers who travel by air transport. This can be backed up by the fact that the number of air passengers (domestic and international) rose from 2.628 billion in 2010 to 4.233 billion by 2018 (Source: The World Bank Group). This has further led to an increase in the spending done on airports, which has further propelled the frequency of air travel in many parts of the world. Also, the growth of air transport services as well in order to achieve more efficient and safe airport operations emanates the market growth in the forecast period. The booming tourism sector around the globe is primarily attributed to the rising disposable income and adoption of high living standards, especially in emerging economies like China and India, compared to the developed economies of the world. In addition to this, the availability of cheap air tickets is propelling the increasing use of flights as a regular means of transport. Moreover, globalization has further led to an increase in the frequency of business travel globally. Thus, all the factors mentioned above are anticipated to positively impact the market growth because there has been an increase in the frequency of air travel which further leads to an increase in the frequency of tire replacements, thus playing a significant role in shaping the commercial aviation aircraft tires market growth during the course of the next five years.

Outbreak of COVID-19

The recent outbreak of the novel coronavirus disease is anticipated to be one of the major factors that are expected to hamper the market growth to some extent owing to the fact that the outbreak led to a suspension as well as a slowdown of the activities across the commercial aviation sector globally. Thus, the frequency of air travel decreased significantly since the outbreak was declared a pandemic by the World Health Organization, which is difficult to contain even. Several government measures, such as nationwide lockdowns, led to a ban on travelling activities in many parts of the world. Also, the trade restrictions further led to a ban on exports which also led to a decline in the logistics industry.

Due to the outbreak, there has been a dramatic decline in the active fleet by the airlines, further showing the negative impact of the outbreak on the commercial aviation aircraft tires market. The graph above clearly represents the sharp decline in the active fleet before and after the outbreak. Since the duration of the pandemic is still unclear, the commercial aviation sector is expected to recover as the outlook looks positive after a short period of eight to ten months slowly.

Participation by market players

There is a significant volume of companies working in the commercial aviation aircraft tires market. However, some have solidified their position as the leading providers in this industry. These players are involved in a plethora of investments, product launches, and R&D as a part of their growth strategies to strengthen their position further and provide better products and services to their customers worldwide, which is expected to propel the growth of the market in the coming years. For example, in June 2019, the Goodyear Tire & Rubber Company, one of the prominent market players in the tire industry, announced its partnership with Airbus to supply its Flight Radial tires as main and nose landing gear for the new aircraft A321XLR by Airbus. Similarly, in July 2018, Michelin announced the launch of its Michelin Pilot, a tire designed for propeller-driven aircraft with enhanced life and outstanding tread life with weather protection.

The commercial aviation aircraft tires market has been segmented into type, aircraft type, position, end-user, and geography. By type, the Market Segmentation: has been done into radial and bias. By aircraft type, the classification of the market has been done into a single-aisle and wide body. By position, the Market Segmentation: has been done as front landing gear and main landing gear. By the end-user, the market classification has been done as OEM and aftermarket. Geographically, the distribution of the commercial aviation aircraft tires market has been done in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Radial tires to witness good growth

By type, the radial tires are expected to witness healthy growth in the market. These tires offer a considerable number of landings due to their high durability and lower rolling resistance. Due to its advanced construction, this tire offers longevity as it runs a bit cooler. The bias tire is expected to hold a significant market share throughout the forecast period because these tires are constructed by casing up piles which further offer enhanced speed and stability and are often retreaded.

Single-Aisle to grow substantially

By aircraft type, the single-aisle segment is expected to show healthy growth over the course of the next five years. The growth may be attributed to the rising demand for small-size aircraft owing to the low operational cost, ease of maintenance, and economical purchase. The requirement for the training of pilots, along with the proliferation of flying certification courses, will also lead to the rising demand for single-aisle aircraft, thus, augmenting the growth of this segment during the forecast period. Also, the rising demand for air taxis and chartered services has bolstered the tire demand for such aircraft. However, the aircraft tires market for wide-body aircraft is expected to hold a considerable market share and is expected to show promising growth due to the fact that the growing demand for passenger flights has led the airlines to expand their fleet with large-size aircraft. For example, Turkish Airlines announced the purchase of 60 wide-body planes from Airbus and Boeing in 2017. The need for new aircraft to replace the old ones will also have a significant positive impact on the market. As per data by Boeing, about 100 aircraft retire every year globally, and by 2021 to 2022, there will be about 200 aircraft retiring every year, creating opportunities in business for tire manufacturers for the coming five years.

Key Developments

The commercial aviation aircraft tires industry has grown significantly as a result of the growing aviation industry and increased air travel in countries around the world.

As quoted by the European Rubber Journal in May 2022, ChemChina has announced a EUR€90 million (US$ 96.74 million) partnership in China with engineering firm Haohua to produce civil aviation tires. Under the terms of the agreement, the two companies will create Sinochem Sanhuan (Guilin) Aviation Tire Co. (tentative name) in Yingcai Science & Technology Park in Guilin City, Guangxi Province, to make 100,000 high-performance aircraft tires.

As reported by The Goodyear Tire & Rubber Company in April 2022, it would collaborate with Ohio-based Farmed Materials on a multi-year, multi-million-dollar program supported by the US Department of Defense (DoD), the Air Force Research Lab (AFRL), and BioMADE to develop a domestic source of natural rubber from a specific species of dandelion. The partnership of Goodyear, BioMADE, and Farmed Materials, backed by the Department of Defense, will speed up the commercialization of TK dandelions, starting in the spring of 2022.

One of Goodyear's most sophisticated aircraft products, the Flight Radial, has Goodyear Featherweight Alloy Core Bead Technology and strong, rigid tread belts with improved rubber for dimensional stability, extended service life, and increased cut resistance. Goodyear reported that in October 2019, Airbus provisionally selected Goodyear Tire & Rubber Company to supply its Flight Radial tires as main and nose landing gear for the company's new A321XLR aircraft.

Competitive Insights

Prominent/major key market players in the commercial aviation aircraft tires market include Dunlop, and Goodyear, among others. The players in the commercial aviation aircraft tires market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered, along with the recent deals and investments of these important players in the aircraft tires market.

Segmentation

By Type

• Radial
• Bias

By Aircraft Type

• Single-Aisle
• Wide Body

By Position

• Nose Landing Gear
• Main Landing Gear

By End-User

• OEM
• Aftermarket

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• UK
• Italy
• Middle East and Africa
• UAE
• Saudi Arabia
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia