Europe Aircraft Wheels Market Share and Forecast by 2028

The aircraft wheels market in Europe is expected to grow from US$ 457.06 million in 2021 to US$ 782.65 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.

The conventional aircraft wheels are made of magnesium alloys. However, in modern times, manufacturers are increasingly exploring lightweight materials to manufacture aircraft wheels to attain great durability and low maintenance. Also, an aircraft wheel made of lightweight alloys helps an aircraft manufacturer achieve an optimum fuel efficiency level by reducing some portion of aircraft weight. Thus, in the wake of new technological developments in aircraft wheels, the manufacturers are extensively using various types of aluminum alloys to make the wheels light in weight and with better corrosion resistance. For instance, UTC Aerospace Systems (UTAS) is exploring a silver-based aluminum alloy to develop an aircraft wheel. The strength of new wheels made of silver-based aluminum is expected to increase by about 20%. In addition, the new silver-based aluminum alloy is projected to increase damage tolerance by around 70% owing to its stiffness and improved corrosion resistance. The silver-based aluminum variant is also likely to make the aircraft wheel lighter and reduce maintenance downtime. Hence, the rising adoption of lightweight alloys to manufacture aircraft wheel drives the growth of the aircraft wheels market

In Europe, several countries have been experiencing a continuous surge in the number of infected individuals. The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers. The outbreak of the COVID–19 viruses has affected each aviation business stakeholders' business in the region. Several airlines in the region have postponed the pending aircraft fleet's procurement dates to manage their current operational costs during COVID times and post-COVID times. This move by the airlines has led the aircraft OEMs and component suppliers to suffer economic loss. This factor has had a negative result on the European and international aircraft wheels market players. Airbus, the leading and forerunner in Europe's aircraft production volume, delivered 566 aircraft in 2020, compared to 863 aircraft in 2019. Apart from Airbus, other aircraft OEMs such as Dassault Aviation, Leonardo, Sukhoi, Tupolev, and Ilyushin, among others also faced severe challenge in delivering substantial number of aircraft models to respective customers. This affected the growth aircraft wheels market as the demand for these components declined among the European aircraft manufacturers mentioned above. France, Italy, the UK, and Russia, are among the key countries that have higher number of aircraft manufacturers as well as the worst-hit countries. The severe accentuation in spread of virus has harshly affected the regions aviation stakeholders.

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 Europe aircraft wheels market. The Europe aircraft wheels market is expected to grow at a good CAGR during the forecast period.

Europe Aircraft Wheels Market Segmentation

Europe Aircraft wheels Market – By Type

• Nose Wheel
• Main Wheel

Europe Aircraft Wheels Market – By Aircraft Type

• Fixed Wing Aircraft
• Rotary Wing Aircraft
• UAV

Europe Aircraft Wheels Market – By Fit Type

• Line Fit
• Retro Fit

Europe Aircraft Wheels Market – By End-user

• Military
• Commercial

Europe Aircraft Wheels Market – By Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe

Europe Aircraft wheels market – Companies Mentioned

• Collins Aerospace                                                           
• Meggitt PLC                                                                     
• Honeywell International Inc.                                        
• Parker Hannifin Corporation                                        
• BERINGER AERO
• Lufthansa Technik  
• Zlin Aircraft a.s.                                                                 

Europe Aircraft Wheels Report Scope