Aircraft Wheels and Brakes Market Outlook, Size By 2028

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Aircraft Wheels and Brakes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Braking System, Wheels, and Brakes), Fit Type (Line Fit and Retro Fit), and End User (Defense and Commercial) and Geography

Publication Month: Aug 2021 | Report Code: TIPRE00024462 | No. of Pages: 168 | Category: Aerospace and Defense | Status: Published

The aircraft wheels and brakes market is expected to grow from US$ 7,471.74 million in 2021 to US$ 12,142.18 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028.

Wheels and brakes are among the most important components of aircraft fleets. The wheels provide structural support to the entire aircraft body and confer strength to the tires. The brakes play a vital role in the landing of aircraft as they control wheel speed as well as gradually restrict the motion of aircraft, eventually providing a stable landing. Over the last several years, aircraft and aircraft component manufacturers are emphasizing on lowering the weight of aircraft wheels, as a part of their efforts for reducing aircraft fuel consumption. The lightweight aircraft wheels are extensively used in commercial as well as defense aircraft to attain the lowest possible operational costs by increasing fuel efficiency. Also, the modern-day aircraft wheels are designed and manufactured in such a manner that they should be compatible with multiple disc brake variants.

Impact of COVID-19 Pandemic on Aircraft Wheels and Brakes Market

The COVID-19 outbreak has adversely affected the world and is continuing to shatter several countries. Until the outbreak, the aerospace industry was experiencing substantial growth in terms of production, despite huge backlogs from the aircraft manufacturers. Also, the global aviation industry was witnessing a significant rise in the number of passengers count and increase in aircraft procurement. Unfortunately, the COVID-19 outbreak have decimated the demand for aircraft globally, which reduced the volumes of orders among the aircraft manufacturers, which resulted in a lower number of productions. The decline in production volumes hindered the businesses of various component manufacturers and associated technologies. Thus, the aircraft wheels and brakes market players' businesses have been severely affected by destabilization in aircraft production.

Lucrative Regions for Aircraft Wheels and Brakes Providers


Lucrative Regions for Aircraft Wheels and Brakes Providers 

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Aircraft Wheels and Brakes Market Insights
Increasing Use of Durable, Lightweight, and Sturdy Carbon Brakes

The aircraft manufacturing industry has been reliant on steel-based brakes over the decades; however, in the recent years, the industry players have extensively shifted their focus toward carbon brakes. This is mainly attributed to the low weight and greater durability of carbon. The lighter weight of carbon brakes helps manufacturers in keeping the weight of aircraft models lower than those with traditional brakes; the lightweight aircraft fleets operate with greater fuel efficiency and lowered CO2 emissions. Aircraft weight and CO2 emissions are the two critical parameters of focus in the aircraft manufacturing industry. Moreover, carbon brakes facilitate cost-saving as the sturdier nature of carbon offers brakes additional strength along with an ability to operate in adverse environments. Further, carbon brakes require lesser maintenance as they can handle ~2,000 landings on average. Hence, carbon brakes are being used extensively in modern aircraft models to reduce overall operational costs, including brakes maintenance, repairing, and overhaul (MRO) costs. Carbon brakes are compatible with all modern commercial and military aircraft models, which enable the retrofitting of carbon brakes with ease. Hence, these brakes find applications in the MRO activities of older aircraft fleets, which require maintenance. Thus, the escalating adoption of carbon brakes into commercial and military aircraft is fueling the aircraft wheels and brakes market growth.

End User-Based Market Insights

Military expenditure is increasing by governments across the world to upgrade their air forces. For instance, in August 2020, Taiwan signed a US$ 62 billion deal to purchase 66 F-16 fighter jets from Lockheed Martin, an aircraft manufacturer in the US. Similarly, in May 2021, the Egypt government ordered 30 Rafael jets from Dassault Aviation, France. Furthermore, in 2019, the total production of military aircraft was around ~630. On the other hand, the production number reduced to around ~220 military aircraft in 2020 due to the COVID-19 outbreak, which has severely disrupted the supply chain of aircraft components and caused a slowdown in the production of military aircraft. However, the growing procurement of fighter jets by various countries’ governments worldwide is expected to bolster the growth of the aircraft wheels and brakes market for the defense segment in the coming years.

Aircraft Wheels and Brakes Market, by End User – 2020 and 2028 (%)

Aircraft Wheels and Brakes Market, by End User – 2020 and 2028 (%)

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Note: The outer circle represents market size for 2028, and the inner circle represents market size for 2020. 

Strategic Insights

Report Coverage - Aircraft Wheels and Brakes Market
Report CoverageDetails
Market Size Value inUS$ 7,471.74 Million in 2021
Market Size Value byUS$ 12,142.18 Million by 2028
Growth rateCAGR of 7.2% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages168
No. of Tables88
No. of Charts & Figures74
Historical data availableYes
Segments coveredComponent , Fit Type , and End User and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Players operating in the aircraft wheels and brakes market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In 2021, the US Air Force announce that it is working to extend the operating life of the B-52 Stratofortress so that it can operate into the 2050s. Collins Aerospace, a Raytheon Technologies subsidiary, has been selected to design and manufacture a new wheel and carbon brake for the platform, resulting in a fleet refit of 77 aircraft.
  • In 2020, EasyJet picked Safran Landing Systems again to maintain for its A320 family fleet. The Safran group subsidiary, which specializes in landing gear and carbon brakes, will carry out maintenance and overhaul on 68 landing gears over a period between January 2020 and June 2023. The maintenance operations will be carried out by Safran Landing Systems MRO facility.

The global aircraft wheels and brakes Market has been segmented as follows:

Aircraft Wheels and Brakes Market – by Component 

Aircraft Wheels and Brakes Market – by Fit Type

  • Line Fit 
  • Retro Fit 

Aircraft Wheels and Brakes Market – by End User

  • Defence 
  • Commercial  

Aircraft Wheels and Brakes Market – by Geography

  • North America
    • US
    • Canada 
    • Mexico
  • Europe
    • Germany
    • France 
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles 

  • Beringer Aero
  • Collins Aerospace
  • Honeywell International Inc.
  • Meggitt PLC
  • Parker Hannifin Corporation
  • Safran 
  • MATCO Manufacturing Inc
  • JAY-Em Aerospace and Machine, Inc.
  • Grove Aircraft Landing Gear System Inc
  • Crane Aerospace & Electronics

Frequently Asked Questions

With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies, such as those in APAC, are highly focused on extending MRO services to commercial as well as military aircrafts. Economic growth, increasing air passengers, and growing aviation infrastructure spending in APAC countries are the major factors driving the growth of the aircraft MRO services, which is subsequently providing lucrative opportunities for the growth of the aircraft wheels and brakes market. According to the International Air Transport Association, the total number of new passengers would increase to over 7.2 billion the next 20 years compare to 1.8 billion passengers travelled globally through airline in 2020, and it would further increase the fleet size and the demand for MRO activities for upgrading the aircraft fleet. The rising number of middle-class travelers, especially in India, China, and Singapore, among others, is the main factor contributing to air travel growth in the region. The growth of air travel is positively impacting the growth of MRO facilities in the above mentioned countries, which is thereby catalyzing the 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.
Based on component, the aircraft wheels and brakes market has been segmented into braking system, wheels, and brakes. The Aircraft Wheels and Brakes market was dominated by the brakes segment in 2020.
North America dominated the aircraft wheels and brakes market in 2020; it would continue to dominate the market during the forecast period by 2028. Europe is the second-largest contributor to the global aircraft wheels and brakes market, followed by APAC.
The major companies in Aircraft Wheels and Brakes market are Beringer Aero, Collins Aerospace, Honeywell International Inc., Meggitt PLC, Parker Hannifin Corporation, Safran, MATCO Manufacturing Inc, Grove Aircraft Landing Gear System Inc, and Crane Aerospace & Electronics.
The major end users in Aircraft Wheels and Brakes includes Defense and Commercial. In terms of market share, the market was dominated by the commercial segment in 2020.

The List of Companies - Aircraft Wheels and Brakes Market

  1. Beringer Aero
  2. Collins Aerospace
  3. Honeywell International Inc.
  4. Meggitt PLC
  5. Parker Hannifin Corporation
  6. Safran
  7. MATCO Manufacturing Inc
  8. JAY-Em Aerospace and Machine, Inc.
  9. Grove Aircraft Landing Gear System Inc
  10. Crane Aerospace & Electronics
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Aircraft Wheels and Brakes market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global Aircraft Wheels and Brakes market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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