Updated Oct 2, 2022 05:49

Aircraft Tyre Market in Belgium

Market Overview
The Belgian aircraft tyre market was finally on the rise to reach $ in , after two years of decline. In general, consumption saw a pronounced expansion. Over the period under review, the market hit record highs at $ in 2014; however, from 2015 to , consumption failed to regain momentum.

In value terms, aircraft tyre production stood at $ in estimated in export price. In general, production continues to indicate a deep slump. The pace of growth was the most pronounced in 2012 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2008; however, from 2009 to , production remained at a lower figure.


Consumption
In , approx. units of tyres for aircraft were consumed in Belgium; with an increase of % on the year before. Over the period under review, the total consumption indicated noticeable growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Over the period under review, consumption hit record highs at units in 2014; however, from 2015 to , consumption remained at a lower figure.

The value of the aircraft tyre market in Belgium expanded markedly to $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a remarkable increase. Aircraft tyre consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.


Market Forecast
Driven by increasing demand for tyres for aircraft in Belgium, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Aircraft tyre market in Belgium consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.


Trade Balance
Belgium remains a net exporter of aircraft tyre; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.