Aircraft Tire Market 2030 - Emerging Players Analysis
The global aircraft tire market size is expected to reach USD 2.68 billion by 2030, registering a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Tires are a crucial part of aircraft as they are engineered to withstand high speeds during take-off, heavy loads, and the intense heat generated by braking systems during landing. They help maintain the aircraft’s overall weight at the time of takeoff and landing. They absorb vibrations and impact forces, thus ensuring safe ground contact and providing cushioning to the aircraft. Due to technological advancements in production techniques and raw materials, key companies are producing more fuel-efficient and eco-friendly tires. This is expected to drive the demand for eco-friendly tires over the forecast period. For instance, in June 2023, Michelin launched "Michelin Air X Sky Light Tire." This new segment is lighter, more durable, fuel-efficient, and eco-friendly, as it causes lower CO2 emis...