South America Aircraft Wheels Market Drivers and Forecasts by 2028

The aircraft wheels market in South America is expected to grow from US$ 174.07 million in 2021 to US$ 243.55 million by 2028; it is estimated to grow at a CAGR of 4.9% 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

Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. South America's government has taken an array of actions to protect their citizens and contain COVID-19's spread. Brazil is the largest spender in the aerospace industry and is the only modern aircraft manufacturing country in the region. Owing to this, the demand for components related to aircraft 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 the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including aircraft wheels. Thus, the outbreak of COVID-19 has had a harsh impact on the South American aircraft wheels market, especially in Brazil.

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

South America Aircraft Wheels Market Segmentation

South America Aircraft wheels Market – By Type

• Nose Wheel
• Main Wheel

South America Aircraft Wheels Market – By Aircraft Type

• Fixed Wing Aircraft
• Rotary Wing Aircraft
• UAV

South America Aircraft Wheels Market – By Fit Type

• Line Fit
• Retro Fit

South America Aircraft Wheels Market – By End-user

• Military
• Commercial

South America Aircraft Wheels Market – By Country

• Brazil
• Argentina
• Rest of SAM

South America Aircraft wheels market – Companies Mentioned

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

South America Aircraft Wheels Report Scope