United Kingdom: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in the UK

In 2021, the UK aircraft tyre market increased by 3.7% to $X, rising for the fourth year in a row after three years of decline. In general, consumption showed a modest expansion. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Aircraft Tyre Production in the UK

In value terms, aircraft tyre production declined slightly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 4.2%. Aircraft tyre production peaked at $X in 2020, and then shrank modestly in the following year.

Aircraft Tyre Exports

Exports from the UK

In 2021, after four years of decline, there was significant growth in shipments abroad of tyres for aircraft, when their volume increased by 9.6% to X units. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 33% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, aircraft tyre exports stood at $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 25% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for aircraft tyre exports from the UK, with a 33% share of total exports. Moreover, aircraft tyre exports to the United States exceeded the volume sent to the second major destination, Italy (X units), fivefold. The third position in this ranking was taken by Germany (X units), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.9% per year) and Germany (+4.4% per year).

In value terms, the United States ($X), Saudi Arabia ($X) and Germany ($X) appeared to be the largest markets for aircraft tyre exported from the UK worldwide, together accounting for 47% of total exports. The United Arab Emirates, Ukraine, India, Italy, Spain, the Netherlands, France, Ethiopia, China and Australia lagged somewhat behind, together comprising a further 29%.

Ukraine, with a CAGR of +28.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aircraft tyre export price amounted to $X per unit, surging by 2.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Tyre Imports

Imports into the UK

In 2021, supplies from abroad of tyres for aircraft was finally on the rise to reach X units for the first time since 2015, thus ending a five-year declining trend. Overall, imports recorded a modest increase. The growth pace was the most rapid in 2014 with an increase of 80%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, aircraft tyre imports soared to $X in 2021. In general, imports, however, showed a noticeable slump. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), France (X units) and the Netherlands (X units) were the main suppliers of aircraft tyre imports to the UK, with a combined 88% share of total imports. These countries were followed by the United Arab Emirates and Japan, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and the United Arab Emirates ($X) appeared to be the largest aircraft tyre suppliers to the UK, together comprising 77% of total imports.

The United Arab Emirates, with a CAGR of +42.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average aircraft tyre import price amounted to $X per unit, dropping by -7% against the previous year. Over the period under review, the import price saw a noticeable decrease. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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