Asia Pacific Aircraft Wheels Market Key Players and Forecast by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Asia Pacific Aircraft Wheels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Main Wheel and Nose Wheel), Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft, and UAV), Fit Type (Line Fit and Retrofit), and End-User (Commercial and Military)

Report Date : Oct 2021
Report Code : TIPRE00025315

Category : Aerospace and Defense
Status : Published

Available Report Formats :
No. of Pages : 126

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The aircraft wheels market in Asia Pacific is expected to grow from US$ 376.52 million in 2021 to US$ 718.03 million by 2028; it is estimated to grow at a CAGR of 9.7% from 2021 to 2028.

Presently, the majority of helicopters wheels are made of metallic light-alloy materials, such as aluminum or magnesium. However, wheels made of carbon-fiber-reinforced plastic (CFRP) are ~30%–40% less in weight than aluminum or magnesium alloy wheels. CFRP wheels are expected to offer improved corrosion resistance and noise, vibration, and harshness (NVH) performance. Also, these wheels are stiffer with improved fatigue life, which will extend their life. Manufacturers have already initiated the designing of CFRP-based wheels for rotary wing aircraft. For instance, in January 2021, Carbon Three-Sixty, a aircraft wheels manufacturing company, began to develop CFRP-based wheels for rotary wing aircraft. The company is expected to complete the wheel designing in the next 18 months. These composite wheels will also be interchangeable with existing wheels to make them suitable for retrofit applications. Hence, with the introduction of carbon-fiber-reinforced plastic-based wheels in rotary wing aircraft, the market is expected to flourish further in the coming years with an opportunity to penetrate the rotary wing aircraft wheels.

The COVID-19 outbreak has resulted in a massive financial loss in the Asia Pacific region. The governments in Asia Pacific countries have been continuously taking possible steps to reduce its effects by announcing lockdown and physical distancing measures (post lockdown), which has negatively affecting the aircraft manufacturing sector. China is one of the leading aerospace manufacturing countries in the region and has been one of Asia Pacific's most affected countries during Q1 and Q2 of 2020. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which has negatively influenced the demand for aircraft wheels. Further, India, Australia, Japan, and South Korea are still combating the virus. However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs regionally and internationally. This has been negatively affecting the aircraft wheels market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific aircraft wheels market. The Asia Pacific aircraft wheels market is expected to grow at a good CAGR during the forecast period.
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Asia Pacific Aircraft Wheels Market Segmentation

Asia Pacific Aircraft wheels Market – By Type

Nose Wheel
Main Wheel

Asia Pacific Aircraft Wheels Market – By Aircraft Type

Fixed Wing Aircraft
Rotary Wing Aircraft
UAV

Asia Pacific Aircraft Wheels Market – By Fit Type

Line Fit
Retro Fit

Asia Pacific Aircraft Wheels Market – By End-user

Military
Commercial

Asia Pacific Aircraft Wheels Market – By Country

Australia
China
India
Japan
South Korea
Rest of APAC

Asia Pacific Aircraft wheels market – Companies Mentioned

Collins Aerospace
Meggitt PLC
Honeywell International Inc.
Parker Hannifin Corporation
BERINGER AERO
Lufthansa Technik

Asia Pacific Aircraft Wheels Report Scope

Report Attribute	Details
Market size in 2021	US$ 376.52 Million
Market Size by 2028	US$ 718.03 Million
Global CAGR (2021 - 2028)	9.7%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Main Wheel and Nose Wheel By Aircraft Type Fixed Wing Aircraft Rotary Wing Aircraft UAV By Fit Type Line Fit and Retrofit By End-User Commercial and Military
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	Collins Aerospace Meggitt PLC Honeywell International Inc. Parker Hannifin Corporation BERINGER AERO Lufthansa Technik

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Asia Pacific Aircraft Wheels Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Asia Pacific Aircraft Wheels Market Report Snapshots

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