Updated Oct 2, 2022 06:15

Aircraft Tyre Market in the United Kingdom

Market Overview
In , the UK aircraft tyre market increased by % to $, rising for the fifth year in a row after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain momentum.

In value terms, aircraft tyre production contracted slightly to $ in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 when the production volume increased by % against the previous year. Aircraft tyre production peaked at $ in , and then shrank modestly in the following year.


Consumption
In , after five years of growth, there was significant decline in consumption of tyres for aircraft, when its volume decreased by -% to units. In general, consumption saw a noticeable slump. Over the period under review, consumption reached the peak volume at units in 2008; however, from 2009 to , consumption remained at a lower figure.

The value of the aircraft tyre market in the UK shrank remarkably to $ in , falling 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). Overall, consumption saw a perceptible slump. Over the period under review, the market reached the peak level at $ in 2008; however, from 2009 to , consumption failed to regain momentum.


Market Forecast
Depressed by shrinking demand for aircraft tyre in the UK, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract 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 the UK 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
The UK 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.