South America Aircraft Wheels and Brakes Market Trends and Analysis by 2028

The aircraft wheels and brakes market in South America is expected to grow from US$ 763.13 million in 2021 to US$ 1,067.77 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.

BrazilandArgentina are major economies in South America. Burgeoning demand for MRO activities in emerging economies is the major factor driving the growth of the South America aircraft wheels and brakes market. With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies, such as those in SAM, are highly focused on extending MRO services to commercial as well as military aircrafts. Economic growth, increasing air passengers, and growing aviation infrastructure spending in SAM countries are the major factors driving the growth of the aircraft MRO services, which is subsequently providing lucrative opportunities for the growth of the aircraft wheels and brakes market. According to the International Air Transport Association, the total number of new passengers would increase to over 7.2 billion the next 20 years compare to 1.8 billion passengers travelled globally through airline in 2020, and it would further increase the fleet size and the demand for MRO activities for upgrading the aircraft fleet. The rising number of middle-class travelers is the main factor contributing to air travel growth in the region. The growth of air travel is positively impacting the growth of MRO facilities in the above mentioned countries, which is thereby catalyzing the aircraft wheels and brakes market, which is further anticipated to drive the market in South America.

In South America Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. Governments of South American countries has taken all necessary actions to protect their citizens and control the COVID-19 spread. Brazil is the largest spender in the aerospace industry and the only modern aircraft manufacturing country in the region. Owing to this, the demand for components and aircraft related systems and technologies is at an all-time high in the country. In addition, the majority of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in these countries has impaired the supply chain in Brazil. This has weakened the demand for several components, including wheels and brakes.  

South America Aircraft Wheels and Brakes Market Segmentation       

South America Aircraft Wheels and Brakes Market – By Component

• Braking System
• Wheels
• Brakes

South America Aircraft Wheels and Brakes Market – By Fit Type

• Line Fit
• Retro Fit

South America Aircraft Wheels and Brakes Market – By End User

• Defense
• Commercial

South America Aircraft Wheels and Brakes Market – By Country

• Brazil
• Argentina
• Rest of South America

South America Aircraft Wheels and Brakes Market-Companies Mentioned

• Collins Aerospace
• Honeywell International Inc.
• Meggitt PLC
• Parker Hannifin Corporation
• Safran

South America Aircraft Wheels and Brakes Report Scope