Aircraft Tire Retreading Market Share

Global Aircraft Tire Retreading Market Overview

Aircraft Tire Retreading Market Size was valued at USD 3.3312 billion in 2023. The industry is projected to grow from USD 3.4677792 Billion in 2024 to USD 4.78252526984852 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.10% during the forecast period (2024 - 2030). The rise in demand for cold retreading process as well as the rising cost of new tires are the key market drivers enhancing the aircraft tire retreading market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Tire Retreading Market Trends

• Rising adoption of aircraft tire retreading to boost the market growth

The market for aeroplane tyres is being driven by the increase in domestic and international air travellers. The demand for new aircraft is being driven by the rise in domestic and international air travellers. To meet this demand, new aircraft must be produced, which raises the requirement for aircraft tyres and adds to their frequent wear and tear from landing each tyre repeatedly. For instance, the International Civil Aviation Organization (ICAO) projects that by the year 2040, there will be 10.5 billion passengers travelling by air worldwide.

Additionally, the size of India's domestic air passenger market is anticipated to quadruple from pre-pandemic levels by 2030, according to Boeing's commercial market estimate for the years 2020 to 2039. As a result, the market for aircraft tyres is driven by the increase in domestic and international air travellers. A crucial trend that is becoming more and more popular in the aircraft tyre industry is technological improvement. Manufacturers of aircraft tyres are concentrating on creating tyres with a longer lifespan, greater resistance, and improved efficiency. For instance, the US-based tyre manufacturer Goodyear Tire & Rubber Company introduced TPMS technology for the creation of aviation tug tyres in May 2021. By minimising any pressure loss or temperature change, this technique aids in lowering the number of incidents.

The Japanese tyre manufacturer Yokohama Rubber Co. Ltd. signed a share purchase agreement in March 2022 to pay $2 billion for all of the company's outstanding shares of Trelleborg Wheel Systems Holding AB. It is anticipated that the acquisition will give Yokohama a brand structure, a solid service network, and an expansion of its regional sales network in the OE tyre market. A maker of tyres and wheels for off-road vehicles, aeroplanes, and other specialised uses, Trelleborg Wheel Systems Holding AB is situated in Sweden. Therefore, such factors are anticipated to enhance the aircraft tire retreading market CAGR worldwide in recent years.

However, the growing safety and environmental stability along with the growing air travel are other factors driving the growth of the aircraft tire retreading market revenue.

Aircraft Tire Retreading Market Segment Insights

Aircraft Tire Retreading Process Insights

The aircraft tire retreading market segmentation, based on process, includes first class, business class, premium economy class, and economy class. The pre-cure segment held the mainstream share in 2021 contributing to around ~48% in respect to the Aircraft Tire Retreading market revenue. Pre-cure is a tire retreading process where the tread of the worn-out tire is removed before a new tread with a new tread design is wrapped and spliced by making use of a bonding agent known as cushion gum. Thus, the process enables tire manufacturers to produce different sizes and treads at the same time. In the mold-cure tire process, the original tread is removed and raw rubber is wrapped around the tire. Pre-cure offers various benefits such as low investment costs and flexibility.

Figure 1: Global Aircraft Tire Retreading Market, by Process, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Tire Retreading Aircraft Type Insights

The aircraft tire retreading market segmentation, based on aircraft type, includes commercial and military. In 2021, the commercial segment led the market due to factors like rising passenger volume and an increase in the production of aircraft. Due to rising military spending in developing economies, the military category is anticipated to have the highest CAGR throughout the study period. Besides, the low cost category witnessed the fastest growth in the aircraft tire retreading market growth.

Aircraft Tire Retreading Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America had a major share in the global market and is estimated to continue its dominance during the forecast period. This is due to the Increasing air traffic and the subsequent demand for new aircraft. The presence of prominent commercial and military aircraft manufacturers such as Boeing and Lockheed Martin Corporation in the US is propelling the growth of the regional market.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLOBAL Aircraft Tire Retreading MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe aircraft tire retreading market accounts for the second-largest market share. As more legacy carriers enter the low-cost market in the region, it is expected that demand for aircraft tires retreading would rise. The airlines are expanding their fleet sizes to keep up with the demand for air travel as the European aviation industry develops quickly. One of the key factors driving the expansion of the aviation tyres market in the region is the acquisition of new-generation aircraft for both commercial and military use. Further, the Germany market held the highest market share, and the UK aircraft tire retreading market is the fastest-growing market in the European region.

The Asia Pacific Aircraft Tire Retreading Market is expected to grow at the fastest CAGR from 2022 to 2030. The expansion of the airlines' operating routes to new destinations is a result of the increase in air passenger traffic in the Asia-Pacific area. Airlines currently go to more places with their small fleet of planes. The need for new aircraft and fleet modernization for operational readiness is being fueled by this. This is fueling the Asia-Pacific region's desire for new aeroplane tyres. Moreover, China aircraft tire retreading Industry held the largest market share, and the India aircraft tire retreading market was the fastest-growing market in the Asia-Pacific region.

Aircraft Tire Retreading Key Market Players & Competitive Insights

Major market players are investing heavily in R&D to enhance their product lines, which will help the aircraft tire retreading grow even more. Aircraft Tire Retreading Market participants are expected to take a range of strategic initiatives to enhance their global footprint, with key market developments such as new contractual agreements, product launches, increased investments, mergers and acquisitions, and collaboration with other organizations. Competitors in the aircraft tire retreading industry must offer cost-effective products and services to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, aircraft tire retreading industry has provided medicine with some of the most significant benefits. The aircraft tire retreading market major player such as Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (US), Michelin (France), and Marangoni SpA (Italy) and others are working on expanding the market demand by investing in research and development activities.

Shojiro Ishibashi established the international Bridgestone Corporation in the Japanese city of Kurume, Fukuoka, in 1931. The name Bridgestone is a calque translation and transposition of the Japanese word ishibashi, which means "stone bridge."

Also, One of the major tyre manufacturers on the planet is Goodyear. It employs roughly 72,000 people and produces its goods in 57 locations across 23 different nations. Its two Innovation Centers in Colmar-Berg, Luxembourg, and Akron, Ohio, work to create cutting-edge products and services that raise the bar for the sector's technology and performance.  In 2019, Airbus selected Goodyear Tire & Rubber Company flight radial tires for its new A321XLR aircraft main and nose landing gear. These tires have Goodyear featherweight alloy core bead technology and strong, rigid tread belts with enhanced rubber that offer dimensional stability, longer service life and increased cut resistance. A deferral of contracts due to the ongoing COVID-19 pandemic is expected to dampen the growth of the market for a short period of time.

Key Companies in the aircraft tire retreading market include

• Bridgestone Corporation (Japan)


• The Goodyear Tyre & Rubber Company (US)


• Michelin (France)


• Marangoni SpA (Italy)


• Wilkerson Company Inc. (US)


• Apollo Tyre Ltd (India) Aviation Tyre & Treads LLC (US)


• SAIC (China)


• Desser Tire & Rubber Co. LLC (US)


• Oliver Tyre Group (South Africa)


• Dunlop Aircraft TyreLimited (UK)

Aircraft Tire Retreading Industry Developments

For instance, In March 2022, The Japanese tyre manufacturer Yokohama Rubber Co. Ltd. signed a share purchase agreement in March 2022 to pay $2 billion for all of the company's outstanding shares of Trelleborg Wheel Systems Holding AB. It is anticipated that the acquisition will give Yokohama a brand structure, a solid service network, and an expansion of its regional sales network in the OE tyre market.

Aircraft Tire Retreading Market Segmentation

Aircraft Tire Retreading Process Type Outlook

• Pre-cure


• Mold-cure

Aircraft Tire Retreading Aircraft Type Outlook

• Commercial


• Military

Aircraft Tire Retreading Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

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