Commercial Segment to Dominate Middle East & Africa Aircraft Wheels and Brakes Market during 2020–2028
According to The Insight Partners market research study on “Middle East & Africa Aircraft Wheels and Brakes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Fit Type, and End User,” is expected to reach US$ 522.33 million by 2028 from US$ 408.27 million in 2021. The market is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa aircraft wheels and brakes market along with the drivers and restraints pertaining to the market growth. Growing demand for passenger airline services is the major factor driving the growth of the Middle East & Africa aircraft wheels and brakes market. However, recall of B737 max and discontinuation of A380 and B747 manufacturing may hinder the growth of Middle East & Africa aircraft wheels and brakes market.
During the COVID-19 pandemic, the MEA aircraft wheels and brakes market faced major issues due to disrupted supply chains. The shutdown of borders of countries has led to disruptions in the supply chain of several components and systems. This resulted in a loss of business among the aircraft wheels and brakes market players offering their products to respective customers in the MEA. South Africa has few aircraft manufacturers, which produce general aviation piston aircraft. The spread of COVID-19 led the manufacturers to suspend their operations or operate with a minimal workforce temporarily. This weakened the demand for wheels and brakes, thereby hindering the aircraft wheels and brakes market in the region.
The market for aircraft wheels and brakes market is segmented into component, fit type, end user, and country. Based on component, the market is segmented into braking systems, wheels, and brakes. In 2020, the brakes segment held the largest share Middle East & Africa aircraft wheels and brakes market. Based on fit type the market is divided into line fit and retro fit. In 2020, the retro fit segment held the largest share Middle East & Africa aircraft wheels and brakes market. Based on end user, the market is segmented into defense and commercial. In 2020, commercial segment held the largest share Middle East & Africa aircraft wheels and brakes market. Based on country, the market is segmented into Saudi Arabia, UAE, South Africa, and rest of Middle East & Africa. In 2020, Saudi Arabia held the largest share Middle East & Africa aircraft wheels and brakes market.
Collins Aerospace, Honeywell International Inc, Meggitt PLC, Parker Hannifin Corporation, and Safran are among the leading companies in the Middle East & Africa Aircraft Wheels and Brakes Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Collins Aerospace's long-lasting wheels and carbon brakes continue to assist C-130 operators in saving time and money on maintenance. The company, which is a division of Raytheon Technologies (NYSE: RTX), announced the completion of the first upgrade of new wheels and brakes for the US Navy's fleet of C-130T and KC-130T aircraft.