Aircraft Wheels and Brakes Market

Aircraft Wheels and Brakes Market is Estimated to grow at a CAGR of 7.2% from 2021 to 2028.

Commercial airline traffic has increased at a noteworthy rate in the past few months, after a notable decrease in COVID-19 cases in many parts of the world. As per the Bureau of Transportation Statistics (BTS) of the US, the US airlines recorded a 607% of surge in passenger count in May 2021 compared to the count in May 2020. The US airlines carried 56.6 million passengers in May 2021, compared with 8 million passengers carried in May 2020. Hence, growing passenger airline services are increasing the aircraft flying hours and landing and takeoffs frequency. Thus, the rise in passenger aircraft operations is increasing the scope for MRO services, subsequently, boosting the demand for aircraft wheels, brakes, and brake systems

BERINGER AERO; COLLINS AEROSPACE; CRANE AEROSPACE & ELECTRONICS – PROMINENT MARKET PARTICIPANTS IN AIRCRAFT WHEELS AND BRAKES MARKET

The flying frequency is directly proportional to the demand for MRO activities. This factor is heavily influencing the growth of the country’s aircraft MRO services business. Increased flying frequency are directly proportionate to higher demands for MRO services, including wheels and brakes repair or replacement. Additionally, countries such as Malaysia, Thailand, Vietnam, Indonesia, and the Philippines are witnessing a surge in aircraft MRO projects due to the rise in demand for the integration of advanced technologies and components from commercial aircraft operators. Thus, the growth in the number of aircraft MRO service providers and increase in aircraft fleet volumes in Southeast Asian countries is creating substantial business opportunities for the aircraft wheels and brakes market players.

The aircraft wheels and brakes market is fragmented with majority of the market share occupied by industry-leading players. Most of these contracts are acquired by the well-established players. The players compete on various parameters such as price, technology, brand image, and lead-time, among others. These parameters enhance the competitiveness among the market players and are anticipated to maintain a high level of competitive rivalry amongst the aircraft wheels and brakes manufacturers.

Most of the market initiatives were observed in North American region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:

Year News Country
2019 Crane Aerospace and Electronics will make brake control systems for Boeing’s new MQ-25 unmanned aerial refueling aircraft and build systems for the business class seats. The agreements cover the MQ-25 aerial refueler and work on the company’s new Ascent business class aircraft seat. North America
2019 Parker Aerospace, a division of Parker Hannifin Corporation, a global pioneer in motion and control technology, announced the availability of a Cleveland Wheels & Brakes conversion kit for the Daher TBM 900, TBM 930, and TBM 940 single-engine turboprop aircraft. The conversion kit, manufactured by Parker Aerospace’s Aircraft Wheel & Brake Division, is stronger and lighter, with numerous design enhancements for easier maintenance. The kits can also be used to retrofit the TBM 700B, TBM 700 C, TBM 850, TBM 900, and current TBM 910 aircraft. North America

 

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