Global Aircraft Wheels Market, By Type (Nose Wheels, Main Landing Gear Wheels), Application (Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft, Regional Aircraft), Distribution Channel (Original Equipment Manufacturer (OEM), Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Aircraft Wheels Market
Aircraft wheels market size is valued at USD 77.89 million by 2028 and is expected to grow at a compound annual growth rate of 3.30% over the forecast period of 2021 to 2028. Data Bridge Market Research report on aircraft wheels market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
An aircraft wheel is a significant component of an aircraft landing gear system as it provides the essential structural strength and hold up to the tires. These components occupy the major load of an aircraft during take-off, taxing and landing. It has turn out to be a crucial factor that these aircraft wheels should be made as light as possible while still retaining highest structural strength so as to attain low fuel consumption. Aircraft wheels vary slightly in design from automotive wheels due to the fact these have to lodge multiple disc brake variants.
The aircraft wheels market has a huge potential to grow over the forecast period of 2021 to 2028, owing to the rapidly increasing disposable income amongst the consumers and increase in number of airports. In addition, the rising number of working class population and basic need of cheap transportation from one place to another is also largely influencing the growth of the aircraft wheels market. Also the increasing sale of aircraft wheels due to various improvements witnessed in aircraft MRO (Maintenance, Repair and Overhaul) services which is another driver flourishing the growth of aircraft wheels market. Also, increasing number of aircraft deliveries is also creating the demand for aircraft wheels and is projected to witness significant growth in the above mentioned forecast period. However, the market of aircraft wheels though has certain limitations which can obstruct the potential growth of the market such as the aircraft manufactures takes up a large amount of lead time, fiscal investments and planning which impinge on the production of aircraft leading to increased order to deliverance ratio creating backlog, whereas the lack of well-knit supply chain have the potential to challenge the growth of the aircraft wheels market.
In addition, the momentous increase in the demand for aircraft in the recent years as well as the rising trend of major airline operators to frequently lease their aged aircraft fleet to smaller operators, which in turn route to total refurbishment of the aircraft which will further offer various growth opportunities for the aircraft wheels market in the forecast period of 2021 to 2028.
This aircraft wheels market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on aircraft wheels market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Aircraft Wheels Market Scope and Market Size
Aircraft wheels market is segmented on the basis of type, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the aircraft wheels market is segmented into nose wheels and main landing gear wheels.
- The application segment of the aircraft wheels market is segmented into narrow body aircraft, wide body aircraft, very large body aircraft and regional aircraft.
- On the basis of distribution channel, the aircraft wheels market is segmented into original equipment manufacturer (OEM) and aftermarket.
Aircraft Wheels Market Country Level Analysis
Aircraft wheels market is analyzed and market size, volume information is provided by country, type, application and distribution channel as referenced above.
The countries covered in the aircraft wheels market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the aircraft wheels because of the strong presence of a well-known, though small scale manufacturer of aircrafts in this particular region Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the emergence of home grown aircrafts in China as well as the large market for airline operators in the region.
The country section of the aircraft wheels market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Aircraft Wheels Market Share Analysis
Aircraft wheels market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to aircraft wheels market.
The major players covered in the aircraft wheels market report are BERINGER AERO, Collins Aerospace, a Raytheon Technologies company, Honeywell International Inc, Safran, Lufthansa Technik, Parker Hannifin Corp, Crane Aerospace & Electronics, The Goodyear Tire & Rubber Company, Grove Aircraft Landing Gear Systems Inc., Magnum Aviation Pvt. Ltd., NMG Aerospace, Trelleborg AB, Horizon Aerospace Pvt. Ltd, AeroSavvy, Bridgestone Corporation, MICHELIN, THE TIMKEN COMPANY, Dunlop Aircraft Tyres Limited, Rotable Repairs Ltd., and Meggitt PLC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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