Aircraft Wheels & Brakes Market Developments and Forecast by 2031

The aircraft wheels & brakes market  size is projected to reach US$ 15.40 billion by 2031 from US$ 8.22 billion in 2023. The market is expected to register a CAGR of 8.2% during 2023–2031. The rising adoption of electric brakes and fiber-reinforced plastic wheels is likely to remain a key trend in the market.

Aircraft Wheels & Brakes Market  Analysis

The aircraft wheels and brakes market is majorly dominated by well-established players such as Honeywell International Inc, Parker Hannifin Corporation, Safran Group, and Crane Aerospace & Electronics among others. The demand for wheels and brakes among aircraft manufacturers is strongly increasing. However, most of the contracts are awarded to well-established players. Additionally, the manufacturing of these wheels and brakes requires compliance with several standards set by the governing authority. This involves obtaining various certifications and significant investments in R&D, which restricts the entrance of the new players in the field. Thus, the threat to business of new entrants is high in the current scenario; however, with the rise in aircraft production volume, the emergence of new players is foreseen. This is expected to lower the threat to new entrants as several smaller or mid-sized aircraft manufacturers would be procuring their wheels and brakes from new entrants offering advanced technology wheels and brakes at a competitive price.

Aircraft Wheels & Brakes Market  Overview

The aircraft wheels and brakes market ecosystem comprise of following stakeholders- raw material and component providers, aircraft wheels and brakes manufacturers, aircraft manufacturers, and end-users. The aircraft wheels and brakes manufacturers procure raw materials and components such as steel, aluminum, magnesium alloy, and carbon fiction materials among others and components such as sensors and actuators among others are from various raw material and component providers. Aircraft wheels and brakes manufacturers assemble raw materials and components and produces into a finished goods. The aircraft wheel and brake manufacturers work in tandem with aviation authorities, raw material suppliers, aircraft manufacturers, and the end users. Few of the prominent players who are operation in the market are Collins Aerospace, Honeywell International Inc, Safran Group, and Parker Hannifin Corporation among others. Further, the aircraft manufacturers procure wheels and brakes from above mentioned players and installs the same on aircraft fleet through line fit activity. Finally, the end-users such as airline companies, various countries armed forces, and MRO service providers acquires contracts for aircraft wheel and brake MRO activity. The MRO service providers continuously procure wheels and brakes from the market players in order to continuously offer their services to ever-rising demand for aircraft wheel and brake MRO.

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Aircraft Wheels & Brakes Market  Drivers and Opportunities

Increasing Commercial Aircraft Deliveries

The rising commercial aircraft deliveries across different regions is driving the growth of wheels and  brakes market. The production of commercial aircraft in large numbers is generating the demand for installation of new wheels and brakes across different regions. For instance, Airbus delivered around 735 aircraft in 2023 and witnessed an 11% hike compared to the 2022 deliveries. Moreover, the rise in global commercial aircraft fleet is further driving the growth for wheels and brakes worldwide. For instance, according to The Insight Partners’ secondary research the global commercial aircraft fleet in 2023 was around 27,385 that further reached to 28,398 aircaft in 2024. Such factors have been driving the adoption of aircraft wheels and brakes installation across the world.

Growth in Aircraft MRO Industry

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. Moreover, accordinto The Insight Partner’s Analysis, the global aircraft MRO industry is likely to surpass US$ 140 billion by the end of 2034 which is further likely to generate new demand for aircraft wheels and brakes in the coming years.

Aircraft Wheels & Brakes Market  Report Segmentation Analysis

Key segments that contributed to the derivation of the aircraft wheels & brakes market  analysis are component, fit type, and end user.

• Based on component, the aircraft wheels & brakes market  is segmented into braking system, wheels, and brakes. The brakes segment held a larger market share in 2023.
• Based on fit type, the aircraft wheels & brakes market  is segmented into line fit and retrofit. The retrofit segment held a larger market share in 2023.
• Based on end user, the aircraft wheels & brakes market  is segmented into defense and commercial. The commercial segment held a larger market share in 2023.

Aircraft Wheels & Brakes Market  Share Analysis by Geography

The geographic scope of the aircraft wheels & brakes market  report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Asia Pacific has dominated the market in 2023 followed by North America and Europe regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. China dominated the Asia Pacific aircraft wheels & brakes market in 2023. The demand for wheels and brakes market in China is mainly driven by the demand generated from MRO operations for the large number of fleet. For instance, in 2024, the commercial aircraft fleet across China stood at 4,126 which is further likely to reach around 6,429 aircraft by 2034. Moreover, according to the Airbus forecasts, more than 9,000 aircraft are likely to be delivered across China during 2023 to 2042. Such factors are likely to generate new opportunities for market vendors in the coming years.

Aircraft Wheels & Brakes Market  Report Scope

Aircraft Wheels & Brakes Market Regional Insights

The regional trends and factors influencing the Aircraft Wheels & Brakes Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Wheels & Brakes Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aircraft Wheels & Brakes Market Report Scope

Aircraft Wheels & Brakes Market Players Density: Understanding Its Impact on Business Dynamics

The Aircraft Wheels & Brakes Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Aircraft Wheels & Brakes Market are:

1. Beringer Aero
2. Collins Aerospace
3. Honeywell International Inc.
4. Meggitt PLC
5. Parker Hannifin Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Aircraft Wheels & Brakes Market  News and Recent Developments

The aircraft wheels & brakes market  is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the aircraft wheels & brakes market  are listed below:

• Safran Landing Systems inaugurated, on its Vélizy-Villacoublay site (France), an entirely revamped laboratory dedicated to testing its wheels and carbon brakes, and equipped with a new test bench. The company will have invested a total of 10 million euros to carry out this ambitious project. The result is a responsible working environment and the promise to reinforce the Safran's ability to develop and qualify higher-performance, more durable and competitive brakes as well as to keep pace with its customers’ ramp ups. This applies to almost all segments of civil, military and business aviation. (Source: Safran, Press Release, Apr 2024)
• Parker-Hannifin Corporation (NYSE: PH, “Parker”), the global leader in motion and control technologies, today announced that it has completed its previously announced transaction to sell its Aircraft Wheel and Brake Division, located in Avon, Ohio, in the United States, to Kaman Corporation (NYSE: KAMN).  Kaman, headquartered in Bloomfield, Connecticut, is a leading manufacturer of components and materials for aerospace and defense, industrial and medical markets. (Source: Parker-Hannifin Corporation, Press Release, Sep 2022)

Aircraft Wheels & Brakes Market  Report Coverage and Deliverables

The “Aircraft Wheels & Brakes Market  Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Aircraft wheels & brakes market market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Aircraft wheels & brakes market market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed porter’s five forces analysis
• Aircraft wheels & brakes market market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the aircraft wheels & brakes market
• Detailed company profiles