Aircraft Tire Industry growth analysis and forecast outlook 2026
                     Aircraft Tire Industry growth analysis and forecast outlook 2026 
Market Overview 
Aircraft tire is highly engineered and complex parts of the aircraft. The raw materials involved in 
manufacturing of aircraft tire include steel, cord fabric, natural or artificial rubber, and other 
chemicals. Aircraft tire have cords, which serve as reinforcing material in the tire that provides 
dimensional stability, supporting the aircraft weight, as well as keeping the tire in shape on different 
road conditions.  
One of the major factors affecting growth of the aircraft tire market size is growth in the aviation sector. 
Aircrafts are prominently used in commercial, industrial, and defence sectors. One the major factors 
affecting the aircraft market is significant increase in the air passengers. 
The recent past has witnessed growth in the airline industry, particularly in the commercial airlines. 
Increasing globalization and high economic growth has led to rising number of people travelling through 
aeroplanes. According to World Bank Organization, in 2017, the world GDP was 3.0% up from 2.4% in 
2016. 
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Market Dynamics 
Government of various countries are focusing on increasing investments in the defense sector such as in 
air defense equipment and others. According to National Investment Promotion and Facilitation Agency, 
in India, an increase of 5.3% was reported in the budget for defense in the year 2017-2018, compared to 
2016-2015, accounting for around US$ 41 Bn, out of which 22.5% is the estimated investment in the Air 
Force. As per these stats, India contributes around 3.3% to the global military expenditure. Growth in 
the Air Force aircrafts is expected to lead to high demand for aircraft tire. Governments of countries are 
also focusing on increasing investments in civil aviation sector. For instance, according to IBEF, 
Government of India allocated funds valued at US$ 979.5 million under the Union Budget 2018-2019. 
The objective is to improve Civil Aviation sector in order to handle growing air traffic. This in turn is 
expected to aid in growth of the market. 
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Some of the key players operating in the aircraft tire market are Goodyear, Michelin, Bridgestone, and 
Dunlop Aircraft Tires. 
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