Commercial Segment to dominate Middle East & Africa Aircraft Wheels Market during 2020–2028
According to The Insight Partners market research study on “Middle East & Africa Aircraft Wheels Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Aircraft Type, Fit Type and End-User,” is expected to reach US$ 119.14 million by 2028 from US$ 93.12 million in 2021. The market is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The report provides opportunity prevailing in the Middle East & Africa aircraft wheels market along with the drivers, trend and restraints pertaining to the market growth. Rising use of CFRP composite in aircraft nose wheel manufacturing, Burgeoning application of carbon-fiber-reinforced plastic-based wheels for rotary wing aircraft, and advanced adoption of lightweight alloy to manufacture aircraft wheels are the major factor driving the growth of the Middle East & Africa aircraft wheels market. However, growing life span of aircraft wheels hinder the growth of Middle East & Africa aircraft wheels market.
The MEA aircraft wheels market is majorly affected by the disruption in the supply chain. Pertaining to the closure of borders of countries, the supply chain of several components of aircraft have been disturbed. Thus, the demand for aircraft wheels have also has declined significantly. This has resulted in a loss of business among the aircraft wheels market players offering their products to respective customers in the MEA region. South Africa has few aircraft manufacturers; hence, they generate the demand for aircraft wheels in the country. The widespread COVID – 19 viruses have led the manufacturers to suspend their operations or operate with a minimal workforce temporarily. This has weakened the demand for aircraft components, thereby hindering the aircraft wheels market in the country. Additionally, the disruption in the supply chain of aircraft wheels raw materials due to the pandemic, the aircraft wheels business is expected to have an adverse effect on the aircraft wheels market in the country.
The Middle East & Africa aircraft wheels market is segmented on the bases of type, aircraft type, fit type, and end-user, and country. Based on type, the market is segmented into nose wheel and main wheel. In 2020, main wheel segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on aircraft type, the aircraft wheels market is segmented into fixed wing aircraft, rotary wing aircraft, and UAV. In 2020, fixed wing aircraft segment held the largest share in the market and UAV is expected to be the fastest growing segment during the forecast period. Based on fit type, the market is segmented into line fit and retro fit. In 2020, retro fit segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into military and commercial. In 2020, commercial segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the Saudi Arabia, the UAE, South Africa, and Rest of MEA. In 2020, the UAE held the largest share in the market and Saudi Arabia is expected to be the fastest growing country during the forecast period.
Collins Aerospace; Meggitt PLC; Honeywell International Inc.; Parker Hannifin Corporation; BERINGER AERO; and Lufthansa Technik are among the leading companies in the Middle East & Africa aircraft wheels market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.