Europe Aircraft Wheels and Brakes Market Growth and Recent Trends by 2028

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

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

Report Date : Oct 2021
Report Code : TIPRE00025211

Category : Aerospace and Defense
Status : Published

Available Report Formats :
No. of Pages : 88

Page Updated: Oct 2021

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

The aircraft wheels and brakes market in Europe is expected to grow from US$ 2,003.82 million in 2021 to US$ 3,431.28 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.

The UK, Germany, and Russia are major economies in Europe. Escalating demand for passenger airline services is the major factor driving the growth of the Europe aircraft wheels and brakes market. Commercial airline traffic has increased at a noteworthy rate in the past few months, after a notable decrease in COVID-19 cases in many parts of the world. Further, a rise in passenger airline operations highlights the need for additional aircraft to reduce the operational burden of existing fleets, thus compelling the airline companies to procure new aircraft fleets. In June 2021, United Airlines, Inc. rolled out its purchase order of 200 Boeing 737 (including 50 B737 Max 8s and 150 737 Max 10s) and 70 Airbus 321 Neo fleet. Similarly, Indigo Airlines received 44 A320 Neo aircraft in January 2020, and it is yet to receive more than 250 aircraft models. Hence, the rising production and procurement of new aircraft fleets, in response to the growing demand for passenger airline services, is boosting the adoption of aircraft wheels and brakes, thereby driving the market growth, which is further anticipated to drive the market in Europe.

The air transport sector plays an important role in economic growth and employment in many European countries. With the COVID-19 outbreak, the production and sales of aircraft wheels and brake came to a sudden halt in the most part of Europe. The collapse of demand side severely impacted the EU aerospace sector and reduced international trade, thereby putting the economies in deep crisis. The European aerospace industry began to witness airspace inefficiencies, activity delays, and declining flight counts with the initial spread of COVID-19. The global passenger volume contracted by 60.5%, and total cost of infrastructure declined by 45.4% in 2020, increasing unit costs. This reduced demand has severely impacted the regional aircraft wheels and brake market. The EU aerospace industry is anticipated to recover gradually due to a slower economic recovery and the importance of international services. As per the IATA estimates, Europe faced net loss of ~US$ 26.9 billion in 2020. In 2021, net losses are estimated to lower down to US$ 11.9 billion.However, the European aircraft manufacturing giant, Airbus, foresees faster recovery of the aviation industry and aircraft manufacturing. According to the company, the global and European aviation industry is expected to reach pre-COVID levels during 2023–2025. Owing to this, the company has been ramping up its production volumes to be capable of delivering a large number of orders. Airbus plans to produce 900 Airbus A320 family aircraft models per year by 2025, with 64 per month by 2023 and 75 units per month by 2025. The announcement of such strategies indicates a promising scenario for the growth of the manufacturers of aircraft components, including wheels and brakes.
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Europe Aircraft Wheels and Brakes Market Segmentation

Europe Aircraft Wheels and Brakes Market – By Component

Braking System
Wheels
Brakes

Europe Aircraft Wheels and Brakes Market – By Fit Type

Line Fit
Retro Fit

Europe Aircraft Wheels and Brakes Market – By End User

Defense
Commercial

Europe Aircraft Wheels and Brakes Market – By Country

France
Germany
Italy
UK
Russia
Rest of Europe

Europe Aircraft Wheels and Brakes Market – Companies Mentioned

BERINGER AERO
Collins Aerospace
Crane Aerospace & Electronics
Honeywell International Inc.
Meggitt PLC
Parker Hannifin Corporation
Safran

Europe Aircraft Wheels and Brakes Report Scope

Report Attribute	Details
Market size in 2021	US$ 2,003.82 Million
Market Size by 2028	US$ 3,431.28 Million
Global CAGR (2021 - 2028)	8.0%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Component Braking System Wheels Brakes By Fit Type Line Fit and Retro Fit By End User Defense and Commercial
Regions and Countries Covered	Europe UK Germany France Russia Italy Rest of Europe
Market leaders and key company profiles	BERINGER AERO Collins Aerospace Crane Aerospace & Electronics Honeywell International Inc. Meggitt PLC Parker Hannifin Corporation Safran

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 Europe Aircraft Wheels and Brakes 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

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