Key Players:
The key players in the global aircraft wheels brakes market are Safran (France), Lufthansa Technik (Germany), Meggitt Aircraft Braking Systems (US), United Technologies (US), AAR (US), Honeywell International (US), PARKER HANNIFIN CORP (US), Beringer-aero (France), Crane Aerospace Electronics (US), and Grove Aircraft Landing Gear Systems Inc. (US).
Market Highlights:
The Aircraft Wheels and Brakes Market is expected to reach USD 7.48 Billion by 2030 at 7.3% CAGR during the forecast period 2020-2030. The aircraft takeoff and landing operations require a robust maintenance and overhaul of the wheels and brakes. They are vital components that are very essential for the aircraft handling operations, such as take-off, landing, and taxiing.
The wheels and brakes are essential to all aircraft ground movements as they have to withstand the large temperature, environmental, and force variations, during every flight operation. With a significant increase in the demand for aircraft in the recent years, it is expected that the global market would grow at a rapid pace, during the forecast period.
Segmental Analysis:
The global aircraft wheels brakes market has been segmented by wheel type, brake type, end-user, aircraft type, and region.
On the basis of wheel type, the Aircraft Wheels and Brakes Market Size is divided into nose wheel and main landing gear wheel. In 2020, the main landing gear wheel segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is primarily because the main landing gear wheel enables the aircraft to takeoff, land, and taxi without any damage to the aircraft.
On the basis of brake type, the aircraft wheels brakes market is divided into carbon brake and steel brake. In 2017, the carbon brake segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is majorly due to the operational advantages of the carbon brakes such as their longer lives, lighter weight as compared to the steel brakes, high-performance capability, and cost-effectiveness.
On the basis of end-user, the aircraft wheels brakes market is divided into OEM and aftermarket. In 2017, the OEM segment dominated the global market, as the market is headed by the four large OEMs, namely: United Technologies, Honeywell, Safran, and Meggitt. It is expected that the aftermarket segment would witness the fastest market growth, during the forecast period, as there has been a rapid growth in the demand for aftermarket services of the aircraft wheels and tires, in the recent years.
On the basis of aircraft type, the aircraft wheels brakes market is divided into commercial aircraft and military aircraft. In 2017, the commercial aircraft segment dominated the global market, due to the rapid increase in the commercial aircraft deliveries, in the recent years, and it is expected that the military aircraft segment would witness the fastest market growth, during the forecast period.
Regional Analysis:
According to the provincial investigation and Aircraft wheels and Brakes Market Overview Trends, the Asia Pacific airplane wheels and brakes market addressed the greatest pay share in 2020, and the example is depended upon to continue during the measure time span. This is a direct result of rising public protect monetary plans of countries like India and China similarly as rising flying region. Moreover, factors, for example, fast urbanization and rising traffic are depended upon to drive interest for plane switches in this region.
As indicated by Aircraft wheels and brakes market Forecast report, North American airplane wheels and brakes market is depended upon to enlist an amazing pay share over the measure time period. This is credited to growing interest for business planes, rising plane requests and supplies in military and gatekeeper regions, and creative movements in plane switches.
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