Aircraft Wheels & Brakes Market  Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

Aircraft Wheels & Brakes Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Braking System, Wheels, and Brakes), Fit Type (Line Fit and Retrofit), End User (Defense and Commercial), and Geography

  • Report Code : TIPRE00024462
  • Category : Aerospace and Defense
  • No. of Pages : 150
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Aircraft Wheels and Brakes Market Size, Top Players 2021-2031

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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: Strategic Insights

Aircraft Wheels & Brakes Market

  • CAGR (2023 - 2031)
    8.2%
  • Market Size 2023
    US$ 8.22 Billion
  • Market Size 2031
    US$ 15.40 Billion

Market Dynamics

GROWTH DRIVERS
  • Increasing commercial aircraft deliveries
  • Increasing use of durable, lightweight, sturdy carbon brakes
FUTURE TRENDS
  • The rising adoption of electric brakes and fiber-reinforced plastic wheels
OPPORTUNITIES
  • Growth in Aircraft MRO Industry

Key Players

  • 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

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Braking System
  • Wheels
  • Brakes
Fit Type
  • Line Fit
  • Retrofit
End User
  • Defense and Commercial
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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  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

Aircraft Wheels & Brakes Market Report Scope

Report Attribute Details
Market size in 2023 US$ 8.22 Billion
Market Size by 2031 US$ 15.40 Billion
Global CAGR (2023 - 2031) 8.2%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Component
  • Braking System
  • Wheels
  • Brakes
By Fit Type
  • Line Fit
  • Retrofit
By End User
  • Defense and Commercial
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key 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
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component , Fit Type , and End User and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the expected CAGR of the aircraft wheels & brakes market ?

    The aircraft wheels & brakes market is likely to register of 8.2% during 2023-2031.

    What would be the estimated value of the aircraft wheels & brakes market by 2031?

    The estimated value of the aircraft wheels & brakes market by 2031 would be around US$ 15.40 billion.

    What are the future trends of the aircraft wheels & brakes market ?

    The rising adoption of electric brakes and fiber-reinforced plastic wheels is one of the major trends of the market.

    Which are the leading players operating in the aircraft wheels & brakes market ?

    Honeywell International Inc, Parker Hannifin Corporation, Safran, Collins Aerospace, Beringer Aero, Crane Aerospace and Electronics, Grove Aircraft Landing Gear Systems Inc, Jay-Em Aerospace and Machine Inc, Matco Manufacturing Inc, and TransDigm Group Incorporated are some of the key players profiled under the report.

    What are the driving factors impacting the aircraft wheels & brakes market ?

    Increasing commercial aircraft deliveries and increasing use of durable, lightweight, sturdy carbon brakes are some of the factors driving the growth for aircraft wheels & brakes market.

    Which region dominated the aircraft wheels & brakes market in 2023?

    Asia Pacific region dominated the aircraft wheels & brakes market in 2023.

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