Middle East: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in the Middle East

In 2021, the Middle Eastern aircraft tyre market decreased by -12.8% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in the Middle East

In value terms, aircraft tyre production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 47% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Aircraft Tyre Exports

Exports in the Middle East

In 2021, the amount of tyres for aircraft exported in the Middle East declined to X units, falling by -8.4% on 2020. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 when exports increased by 60% against the previous year. The volume of export peaked 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. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 85% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X units) represented the main exporter of tyres for aircraft, committing 61% of total exports. It was distantly followed by Oman (X units), Saudi Arabia (X units) and Lebanon (X units), together making up a 28% 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 the Middle East, 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. From 2012 to 2021, the share of the United Arab Emirates, Oman, Kuwait, Jordan and Saudi Arabia increased by +49, +16, +3.6, +2.9 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2021, together comprising 78% 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 the Middle East stood at $X per unit in 2021, jumping by 28% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aircraft tyre export price decreased by -29.9% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 31%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices remained at a 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 the Middle East

In 2021, overseas purchases of tyres for aircraft decreased by -5.9% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, aircraft tyre imports contracted to $X in 2021. In general, imports saw a slight decline. The pace of growth was the most pronounced in 2014 with an increase of 22%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the key importer of tyres for aircraft in the Middle East, with the volume of imports amounting to X units, which was near 51% of total imports in 2021. It was distantly followed by Turkey (X units), Israel (X units) and Kuwait (X units), together constituting a 31% share of total imports. Iran (X units), Oman (X units) and Yemen (X units) followed a long way behind the leaders.

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%) and Kuwait (+9.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +15.1% from 2012-2021. By contrast, Israel (-6.9%), Oman (-7.7%) and Iran (-12.2%) illustrated a downward trend over the same period. Turkey (+15 p.p.), the United Arab Emirates (+3.9 p.p.), Kuwait (+2.6 p.p.) and Yemen (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Israel and Iran saw its share reduced by -3.5%, -4.7% and -7.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tyres for aircraft in the Middle East, comprising 47% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by Kuwait, with a 4.7% share.

In the United Arab Emirates, aircraft tyre imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+15.8% per year) and Kuwait (+9.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per unit, which is down by -2.1% against the previous year. Over the period under review, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 18% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Iran (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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