North America Aircraft Wheels and Brakes Market Analysis, Size, and Share by 2028

The aircraft wheels and brakes market in North America is expected to grow from US$ 2,645.80 million in 2021 to US$ 3,972.81 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Increasing use of durable, lightweight, sturdy carbon brakes is the major factor driving the growth of the North America aircraft wheels and brakes market. The aircraft manufacturing industry has been reliant on steel-based brakes over the decades; however, in the recent years, the industry players have extensively shifted their focus toward carbon brakes. This is mainly attributed to the low weight and greater durability of carbon. The lighter weight of carbon brakes helps manufacturers in keeping the weight of aircraft models lower than those with traditional brakes; the lightweight aircraft fleets operate with greater fuel efficiency and lowered CO2 emissions. Aircraft weight and CO2 emissions are the two critical parameters of focus in the aircraft manufacturing industry. Moreover, carbon brakes facilitate cost-saving as the sturdier nature of carbon offers brakes additional strength along with an ability to operate in adverse environments. Further, carbon brakes require lesser maintenance as they can handle ~2,000 landings on average. Hence, carbon brakes are being used extensively in modern aircraft models to reduce overall operational costs, including brakes maintenance, repairing, and overhaul (MRO) costs. Carbon brakes are compatible with all modern commercial and military aircraft models, which enable the retrofitting of carbon brakes with ease. Hence, these brakes find applications in the MRO activities of older aircraft fleets, which require maintenance. Thus, the escalating adoption of carbon brakes into commercial and military aircraft is fueling the aircraft wheels and brakes market growth, which is further anticipated to drive the market in North America.

In North America, the US witnessed the most severe impact of COVID-19 in 2020. The aircraft wheels and brake manufacturers and service providers in the region are affected due to imposition of nationwide lockdowns and travel restrictions, shutdown of production facilities, and shortage of employees. The massive outbreak created both a health crisis and an economic crisis in the North American countries, especially in the US, which also led to major disruptions in the aerospace industry, impacting supply chains, manufacturing, product sales, and so on. The COVID-19 pandemic has directly and indirectly impacted the industry’s short-term and long-term strategies. The pandemic has caused huge havoc in the airlines industry in North America due to huge net losses and delayed recovery. The aircraft industry in North America was one of the strongest performers in the pre-crisis period, however, IATA reports an estimated loss of ~US$ 45.8 billion in 2020 in the region. Nevertheless, in 2021, following the recovery, the net profit margin of the North American aerospace industry is anticipated to improve to –6.8% from –41.4% in 2020. The presence of large domestic markets is anticipated to drive the improvement. Recovery in demands for passenger, cargo, and military aircraft fleet is anticipated to boost manufacturing and sales of the aircraft wheels and brakes in the coming financial quarters.

North America Aircraft Wheels and Brakes Market Segmentation       

North America Aircraft Wheels and Brakes Market – By Component

• Braking System
• Wheels
• Brakes

North America Aircraft Wheels and Brakes Market – By Fit Type

• Line Fit
• Retro Fit

North America Aircraft Wheels and Brakes Market – By End User

• Defense
• Commercial

North America Aircraft Wheels and Brakes Market – By Country

• US
• Canada
• Mexico

North America Aircraft Wheels and Brakes Market – Companies Mentioned

• BERINGER AERO
• Collins Aerospace
• Crane Aerospace & Electronics
• Grove Aircraft Landing Gear System Inc
• Honeywell International Inc.
• JAY-Em Aerospace and Machine, Inc.
• MATCO Manufacturing Inc
• Meggitt PLC
• Parker Hannifin Corporation
• Safran

North America Aircraft Wheels and Brakes Report Scope