MENA: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in MENA

In 2021, the MENA's aircraft tyre market decreased by -11.3% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in MENA

In value terms, aircraft tyre production declined to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Aircraft Tyre Exports

Exports in MENA

For the fourth year in a row, MENA recorded decline in overseas shipments of tyres for aircraft, which decreased by -8.3% to X units in 2021. Over the period under review, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 57%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, aircraft tyre exports skyrocketed to $X in 2021. Overall, exports saw a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 79%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of about X units, which reached 60% of total exports. Oman (X units) held the second position in the ranking, distantly followed by Saudi Arabia (X units) and Lebanon (X units). All these countries together held approx. 27% share of total exports. Kuwait (X units), Jordan (X units) and Turkey (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, Oman (+48.1%), Kuwait (+32.5%) and Jordan (+11.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +48.1% from 2012-2021. By contrast, Saudi Arabia (-6.2%), Lebanon (-12.5%) and Turkey (-38.2%) illustrated a downward trend over the same period. The United Arab Emirates (+49 p.p.), Oman (+16 p.p.), Kuwait (+3.6 p.p.), Jordan (+2.9 p.p.) and Saudi Arabia (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -60.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aircraft tyre supplying countries in MENA were the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X), together accounting for 77% of total exports.

Among the main exporting countries, Oman, with a CAGR of +57.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, picking up by 27% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aircraft tyre export price decreased by -30.0% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 32%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+11.2%), while the other leaders experienced more modest paces of growth.

Aircraft Tyre Imports

Imports in MENA

In 2021, supplies from abroad of tyres for aircraft decreased by -6.5% to X units, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a mild decline. The pace of growth was the most pronounced in 2013 when imports increased by 23%. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, aircraft tyre imports fell to $X in 2021. Over the period under review, imports recorded a mild slump. The growth pace was the most rapid in 2014 with an increase of 27% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importing country with an import of about X units, which amounted to 48% of total imports. Turkey (X units) took the second position in the ranking, distantly followed by Israel (X units). All these countries together held near 25% share of total imports. Kuwait (X units), Iran (X units), Oman (X units), Yemen (X units), Iraq (X units), Egypt (X units), Lebanon (X units) and Jordan (X units) held a little share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of tyres for aircraft. At the same time, Turkey (+15.1%), Yemen (+13.7%), Iraq (+11.0%) and Kuwait (+9.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +15.1% from 2012-2021. By contrast, Jordan (-1.4%), Israel (-6.9%), Oman (-7.7%), Egypt (-8.4%), Lebanon (-8.9%) and Iran (-12.2%) illustrated a downward trend over the same period. Turkey (+15 p.p.), the United Arab Emirates (+7.6 p.p.), Kuwait (+2.6 p.p.), Yemen (+1.8 p.p.) and Iraq (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Egypt, Lebanon, Oman, Israel and Iran saw its share reduced by -2%, -2.1%, -2.7%, -3.5% and -6.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tyres for aircraft in MENA, comprising 44% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Kuwait, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Turkey (+15.8% per year) and Kuwait (+9.4% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, standing approx. at the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 21%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per unit), while Yemen ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+21.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform