Asia Pacific Aircraft Wheels Market Key Players and Forecast by 2028

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.

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