Aircraft Tire Retreading Market

• 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.

Cost efficiency remains a pivotal driver in the Global Aircraft Tire Retreading Market Industry. Retreading tires can be up to 30 to 50 percent cheaper than purchasing new tires, making it an attractive option for airlines aiming to optimize their operational budgets. This financial incentive is particularly relevant in an industry characterized by high operational costs. As airlines continue to seek ways to enhance profitability, the retreading market is likely to benefit. The projected growth to 5.85 USD Billion by 2035 indicates a sustained interest in cost-effective solutions, further solidifying the role of retreading in the aviation sector.

Regulatory support is emerging as a significant driver for the Global Aircraft Tire Retreading Market Industry. Governments and aviation authorities are increasingly recognizing the environmental and economic benefits of tire retreading. Policies that encourage the use of retreaded tires, along with incentives for airlines to adopt sustainable practices, are likely to bolster market growth. This regulatory backing not only enhances the credibility of retreading but also aligns with global efforts to promote sustainability in aviation. As the market evolves, such supportive measures could lead to a more favorable landscape for retreading, contributing to its projected growth.

The Global Aircraft Tire Retreading Market Industry is experiencing a notable shift towards sustainability, driven by increasing environmental awareness among airlines and regulatory bodies. Retreading tires significantly reduces waste and conserves resources, aligning with global initiatives to minimize carbon footprints. As airlines seek to enhance their sustainability profiles, the demand for retreaded tires is projected to rise. This trend is underscored by the industry's commitment to reducing operational costs while adhering to environmental standards. The market is expected to reach 3.47 USD Billion in 2024, reflecting the growing emphasis on eco-friendly practices in aviation.

The Global Aircraft Tire Retreading Market Industry is poised for growth due to the increasing air traffic and fleet expansion across the globe. As more airlines enter the market and existing carriers expand their fleets, the demand for aircraft tires, including retreaded options, is likely to rise. This trend is particularly pronounced in emerging markets, where air travel is becoming more accessible. The anticipated growth in air traffic is expected to drive the market to reach 5.85 USD Billion by 2035, highlighting the potential for retreading to meet the needs of a growing aviation sector.

Technological advancements are significantly influencing the Global Aircraft Tire Retreading Market Industry. Innovations in retreading processes, such as improved curing techniques and enhanced material formulations, have led to higher quality retreaded tires. These advancements not only extend the lifespan of tires but also ensure safety and performance standards are met. As technology continues to evolve, it is anticipated that the efficiency and effectiveness of retreading will improve, attracting more airlines to consider this option. The market's growth trajectory, with a CAGR of 4.86% from 2025 to 2035, suggests that these technological improvements will play a crucial role in shaping future demand.

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, Market Research Future 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.

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.