While the auto industry has accelerated in under-the-hood tech advancement, there's one car part that has almost entirely stayed put: the tire. At its core, the tire is – and always has been – a round rubber object pumped up with air.

But according to Hankook Tire – a company from South Korea – the tire is on the brink of a huge development. The company has been working on non-pneumatic tires for a while now, since developing a concept in 2013.

"The Hankook iFlex's ability to deliver the perfect high-speed driving performance is the result of Hankook's longstanding commitment to independently developing progressive, innovative tire technology," said CEO Seung-Hwa Suh in an interview with Tire Review. "Aiming to strengthen our technological leadership in the global tire market, we will continue to develop cutting edge eco-friendly and future-oriented tires." 

Hankook Tires is now on its fifth generation, dubbed the iFlex — developing a tire that does not require air pressure, relying instead on a new, unspecified eco-friendly material. The company has been able to achieve bounce and springiness normally supplied by air pressure through incorporating geometric shapes into the material of the tire. Unlike previous versions of the iFlex, however, this tire is made to fit onto a standard wheel rim — meaning that anyone can use it on their car.

To compare the iFlex tire with current rubber tires, Hankook ran the tire through a number of tests, measuring things like hardness and stability. Having brought the tire up to 80 miles per hour, Hankook says that it matches conventional rubber tires in performance.

Of course, Hankook isn't the only company working on a tire that doesn't require air to function. Bridgestone has also announced a prototype non-pneumatic tire for consumer vehicles that features a spoke structure inside the tire. It's still in development, but it certainly looks like a promising option.

There are a number of benefits to airless tires, in addition to not having to worry about getting a flat. No flat tires means that users don't have to carry around an extra tire, which in turn means a light vehicle, which translates to better fuel economy. Not having to replace tires isn't just great for consumers — it's also a big deal for people like farmers, for whom replacing tractor tires can be very costly in terms of money and also productivity.