Europe Aircraft Wheels and Brakes Market Growth and Recent Trends by 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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Aircraft Wheels and Brakes Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
5. Europe Aircraft Wheels and Brakes – Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Use of Durable, Lightweight, Sturdy Carbon Brakes
5.1.2 Escalating Demand for Passenger Airline Services
5.2 Market Restraints
5.2.1 Recall of B737 Max and Discontinuation of A380 and B747 Manufacturing
5.3 Market Opportunities
5.3.1 Burgeoning Demand for MRO Activities in Emerging Economies
5.4 Future Trends
5.4.1 Electric Brakes and Fiber-Reinforced Plastic Wheels
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Wheels and Brakes Market – Europe Market Analysis
6.1 Europe Aircraft Wheels and Brakes Market Overview
6.2 Europe Aircraft Wheels and Brakes Market Revenue Forecast and Analysis
7. Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 – Component
7.1 Overview
7.2 Europe Aircraft Wheels and Brakes Market, By Component (2020 & 2028)
7.3 Braking Systems
7.3.1 Overview
7.3.2 Braking System: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
7.4 Wheels
7.4.1 Overview
7.4.2 Wheels: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
7.5 Brakes
7.5.1 Overview
7.5.2 Brakes: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
8. Europe Aircraft Wheels and Brakes Market Analysis and Forecast to 2028 – Fit Type
8.1 Overview
8.2 Europe Aircraft Wheels and Brakes Market, By Fit Type (2020 & 2028)
8.3 Line Fit
8.3.1 Overview
8.3.2 Line Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
8.4 Retro Fit
8.4.1 Overview
8.4.2 Retro Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Aircraft Wheels and Brakes Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 Europe Aircraft Wheels and Brakes Market, By End User (2020 & 2028)
9.3 Defense
9.3.1 Overview
9.3.2 Defense: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Aircraft Wheels and Brakes Market – Country Analysis
10.1 Europe: Aircraft Wheels and Brakes Market
10.1.1 Europe: Aircraft Wheels and Brakes Market, by Key Country
10.1.2 France: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1 France: Aircraft Wheels and Brakes Market, by Component
10.1.2.2 France: Aircraft Wheels and Brakes Market, by Fit Type
10.1.2.3 France: Aircraft Wheels and Brakes Market, by End User
10.1.3 Germany: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.3.1 Germany: Aircraft Wheels and Brakes Market, by Component
10.1.3.2 Germany: Aircraft Wheels and Brakes Market, by Fit Type
10.1.3.3 Germany: Aircraft Wheels and Brakes Market, by End User
10.1.4 Italy: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.4.1 Italy: Aircraft Wheels and Brakes Market, by Component
10.1.4.2 Italy: Aircraft Wheels and Brakes Market, by Fit Type
10.1.4.3 Italy: Aircraft Wheels and Brakes Market, by End User
10.1.5 UK: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.1 UK: Aircraft Wheels and Brakes Market, by Component
10.1.5.2 UK: Aircraft Wheels and Brakes Market, by Fit Type
10.1.5.3 UK: Aircraft Wheels and Brakes Market, by End User
10.1.6 Russia: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1 Russia: Aircraft Wheels and Brakes Market, by Component
10.1.6.2 Russia: Aircraft Wheels and Brakes Market, by Fit Type
10.1.6.3 Russia: Aircraft Wheels and Brakes Market, by End User
10.1.7 Rest of Europe: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
10.1.7.1 Rest of Europe: Aircraft Wheels and Brakes Market, by Component
10.1.7.2 Rest of Europe: Aircraft Wheels and Brakes Market, by Fit Type
10.1.7.3 Rest of Europe: Aircraft Wheels and Brakes Market, by End User
11. Europe Aircraft Wheels and Brakes Market - COVID-19 Impact Analysis
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 BERINGER AERO
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Collins Aerospace
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Meggitt PLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Parker Hannifin Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Safran
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Crane Aerospace & Electronics
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Aircraft Wheels and Brakes Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 4. France: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. France: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 7. Germany: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Germany: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 13. UK: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe: Aircraft Wheels and Brakes Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe: Aircraft Wheels and Brakes Market, by Fit Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe: Aircraft Wheels and Brakes Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Aircraft Wheels and Brakes Market Segmentation
Figure 2. Europe Aircraft Wheels and Brakes Market Segmentation – By Country
Figure 3. Europe Aircraft Wheels and Brakes Market Overview
Figure 4. Europe Aircraft Wheels and Brakes Market, by Component
Figure 5. Europe Aircraft Wheels and Brakes Market, by Fit Type
Figure 6. Europe Aircraft Wheels and Brakes Market, By Country
Figure 7. Europe Aircraft Wheels and Brakes Market - Porter’s Five Forces Analysis
Figure 8. Europe Aircraft Wheels and Brakes Market: Ecosystem Analysis
Figure 9. Europe Aircraft Wheels and Brakes Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Aircraft Wheels and Brakes Market Revenue Forecast and Analysis (US$ Million)
Figure 11. Europe Aircraft Wheels and Brakes Market, by Component (2020 & 2028)
Figure 12. Braking System: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Wheels: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Brakes: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Aircraft Wheels and Brakes Market, By Fit Type (2020 & 2028)
Figure 16. Line Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Retro Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Aircraft Wheels and Brakes Market, By End User (2020 & 2028)
Figure 19. Defense: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Commercial: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe: Aircraft Wheels and Brakes Market – Revenue by Country to 2028 (US$ Million)
Figure 22. Europe: Aircraft Wheels and Brakes Market Revenue Share, by Key Country (2020 & 2028)
Figure 23. France: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Germany: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Italy: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. UK: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe: Aircraft Wheels and Brakes Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in Europe Country Markets
- BERINGER AERO
- Collins Aerospace
- Crane Aerospace & Electronics
- Honeywell International Inc.
- Meggitt PLC
- Parker Hannifin Corporation
- Safran
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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