Aircraft Tyre Market

Driven by increasing global demand, the aircraft tyre market is projected to steadily grow over the next eight years. Market performance is anticipated to expand with a CAGR of +1.0% in volume and +3.5% in value from 2022 to 2030, reaching 2.3M units and $1.7B, respectively. The United States, China, and Spain are among the top consuming countries, while Thailand, France, and Japan are leading exporters. The average export price per unit is $744, indicating a consistent rise in value over the years.

Market Forecast

Driven by increasing demand for tyres for aircraft worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.3M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $1.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tyres For Aircraft

Global aircraft tyre consumption expanded significantly to 2.1M units in 2022, rising by 14% on 2021 figures. The total consumption volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, global consumption hit record highs at 2.1M units in 2015; afterwards, it flattened through to 2022.

The global aircraft tyre market size surged to $1.3B in 2022, growing by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the global market reached the maximum level at $1.3B in 2019; afterwards, it flattened through to 2022.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (470K units), China (386K units) and Spain (133K units), together accounting for 46% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +14.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest aircraft tyre markets worldwide were China ($236M), the United States ($224M) and Brazil ($55M), with a combined 40% share of the global market. Spain, the Philippines, the UK, Turkey, Canada, Germany, France, Ethiopia, Nigeria and Australia lagged somewhat behind, together comprising a further 22%.

The UK, with a CAGR of +7.3%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of aircraft tyre per capita consumption in 2022 were Spain (2,807 units per million persons), the United States (1,403 units per million persons) and Australia (1,374 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Spain (with a CAGR of +14.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Tyres For Aircraft

In 2022, production of tyres for aircraft increased by 8.5% to 1.8M units, rising for the second consecutive year after four years of decline. The total output volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 23% against the previous year. Over the period under review, global production attained the peak volume at 2.1M units in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In value terms, aircraft tyre production contracted to $1.1B in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 30%. Over the period under review, global production hit record highs at $1.3B in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Thailand (396K units), China (368K units) and the United States (141K units), together comprising 49% of global production. Japan, the UK, France, the Philippines, Brazil, Nigeria, Ethiopia, Pakistan, Saudi Arabia and Russia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Saudi Arabia (with a CAGR of +6.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Tyres For Aircraft

In 2022, global aircraft tyre imports skyrocketed to 1.2M units, rising by 34% against the year before. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, global imports reached the peak figure at 1.3M units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, aircraft tyre imports skyrocketed to $696M in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global imports reached the maximum at $753M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports By Country

The United States represented the main importing country with an import of about 330K units, which reached 27% of total imports. It was distantly followed by Spain (143K units), France (89K units) and the Netherlands (58K units), together creating a 24% share of total imports. The following importers - the UK (49K units), Germany (41K units), Belgium (37K units), Canada (35K units), Australia (32K units), Brazil (32K units), Singapore (28K units), China (27K units) and the United Arab Emirates (27K units) - together made up 26% of total imports.

Imports into the United States increased at an average annual rate of +2.7% from 2012 to 2022. At the same time, Spain (+39.2%), Germany (+11.3%), the UK (+6.3%), France (+5.7%), Singapore (+3.8%), Belgium (+3.1%) and the United Arab Emirates (+2.9%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the world, with a CAGR of +39.2% from 2012-2022. Canada and Australia experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.9%), China (-8.4%) and Brazil (-14.1%) illustrated a downward trend over the same period. While the share of Spain (+11 p.p.), the United States (+7.5 p.p.), France (+3.4 p.p.), Germany (+2.3 p.p.) and the UK (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of China (-3 p.p.) and Brazil (-8.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($172M) constitutes the largest market for imported tyres for aircraft worldwide, comprising 25% of global imports. The second position in the ranking was held by France ($54M), with a 7.7% share of global imports. It was followed by Belgium, with a 5.9% share.

In the United States, aircraft tyre imports expanded at an average annual rate of +7.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (+5.6% per year) and Belgium (-0.2% per year).

Import Prices By Country

The average aircraft tyre import price stood at $579 per unit in 2022, increasing by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2013 an increase of 26%. Global import price peaked at $715 per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($1,187 per unit), while Spain ($111 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+17.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Tyres For Aircraft

In 2022, overseas shipments of tyres for aircraft increased by 25% to 893K units, rising for the second consecutive year after four years of decline. In general, exports, however, saw a relatively flat trend pattern. The global exports peaked at 1M units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, aircraft tyre exports surged to $665M in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

Thailand represented the main exporter of tyres for aircraft in the world, with the volume of exports accounting for 379K units, which was near 42% of total exports in 2022. France (114K units) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Japan (10%), the UK (8.3%) and the Netherlands (5.8%). The following exporters - Spain (35K units), Belgium (25K units) and Singapore (18K units) - together made up 8.8% of total exports.

Exports from Thailand increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Spain (+22.5%) and France (+4.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.5% from 2012-2022. The UK experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.1%), Belgium (-1.4%), Japan (-4.8%) and Singapore (-14.5%) illustrated a downward trend over the same period. Thailand (+17 p.p.), France (+5.4 p.p.) and Spain (+3.5 p.p.) significantly strengthened its position in terms of the global exports, while Japan and Singapore saw its share reduced by -5.1% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aircraft tyre supplying countries worldwide were Thailand ($216M), Japan ($109M) and France ($106M), together accounting for 65% of global exports.

Thailand, with a CAGR of +9.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average aircraft tyre export price stood at $744 per unit in 2022, rising by 5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017 an increase of 22%. The global export price peaked at $754 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($1,359 per unit), while Spain ($362 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+21.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform