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.
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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.
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 – Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Aircraft wheels market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Boosting volumes of aircraft orders and their deliveries
5.1.2 Raising adoption of lightweight alloy to manufacture aircraft wheels
5.2 Market Restraint
5.2.1 Upgrading life span of aircraft wheels
5.3 Market Opportunity
5.3.1 Broadening application of carbon-fiber-reinforced plastic-based wheels for rotary wing aircraft
5.4 Future Trend
5.4.1 Expanding use of CFRP composite in aircraft nose wheel manufacturing
5.5 Impact Analysis of Drivers and Restraints
6. Europe Aircraft Wheels – Market Analysis
6.1 Europe Aircraft Wheels market Overview
6.1.1 Europe: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
7. Europe Aircraft Wheels Market Analysis – By Type
7.1 Overview
7.1.1 Europe: Aircraft Wheels Market, by Type
7.2 Nose Wheel
7.2.1 Overview
7.2.2 Nose Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
7.3 Main Wheel
7.3.1 Overview
7.3.2 Main Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8. Europe Aircraft wheels Market Analysis – By Aircraft Type
8.1 Overview
8.1.1 Europe: Aircraft Wheels Market, by Aircraft Type
8.2 Fixed Wing Aircraft
8.2.1 Overview
8.2.2 Fixed Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8.3 Rotary Wing Aircraft
8.3.1 Overview
8.3.2 Rotary Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8.4 UAV
8.4.1 Overview
8.4.2 UAV: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Aircraft wheels Market Analysis – By Fit Type
9.1 Overview
9.1.1 Europe: Aircraft Wheels Market, by Fit Type
9.2 Line Fit
9.2.1 Overview
9.2.2 Line Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
9.3 Retro Fit
9.3.1 Overview
9.3.2 Retro Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Aircraft wheels Market Analysis – By End-user
10.1 Overview
10.1.1 Europe: Aircraft Wheels Market, by End-user
10.2 Military
10.2.1 Overview
10.2.2 Military: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
10.3 Commercial
10.3.1 Overview
10.3.2 Commercial: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
11. Europe Aircraft wheels Market – Country Analysis
11.1 Overview
11.1.1 Europe: Aircraft Wheels Market, by Key Country
11.1.1.1 France: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.1.1 France: Aircraft Wheels Market, by Type
11.1.1.1.2 France: Aircraft Wheels Market, by Aircraft Type
11.1.1.1.3 France: Aircraft Wheels Market, by Fit Type
11.1.1.1.4 France: Aircraft Wheels Market, by End-user
11.1.1.2 Germany: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.2.1 Germany: Aircraft Wheels Market, by Type
11.1.1.2.2 Germany: Aircraft Wheels Market, by Aircraft Type
11.1.1.2.3 Germany: Aircraft Wheels Market, by Fit Type
11.1.1.2.4 Germany: Aircraft Wheels Market, by End-user
11.1.1.3 UK: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.3.1 UK: Aircraft Wheels Market, by Type
11.1.1.3.2 UK: Aircraft Wheels Market, by Aircraft Type
11.1.1.3.3 UK: Aircraft Wheels Market, by Fit Type
11.1.1.3.4 UK: Aircraft Wheels Market, by End-user
11.1.1.4 Italy: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.4.1 Italy: Aircraft Wheels Market, by Type
11.1.1.4.2 Italy: Aircraft Wheels Market, by Aircraft Type
11.1.1.4.3 Italy: Aircraft Wheels Market, by Fit Type
11.1.1.4.4 Italy: Aircraft Wheels Market, by End-user
11.1.1.5 Russia: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.5.1 Russia: Aircraft Wheels Market, by Type
11.1.1.5.2 Russia: Aircraft Wheels Market, by Aircraft Type
11.1.1.5.3 Russia: Aircraft Wheels Market, by Fit Type
11.1.1.5.4 Russia: Aircraft Wheels Market, by End-user
11.1.1.6 Rest of Europe: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Europe: Aircraft Wheels Market, by Type
11.1.1.6.2 Rest of Europe: Aircraft Wheels Market, by Aircraft Type
11.1.1.6.3 Rest of Europe: Aircraft Wheels Market, by Fit Type
11.1.1.6.4 Rest of Europe: Aircraft Wheels Market, by End-user
12. Europe Aircraft wheels market – Covid-19 Impact Analysis
12.1 Overview
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. COMPANY PROFILES
14.1 Collins Aerospace
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Meggitt PLC
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Honeywell International Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Parker Hannifin Corporation
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 BERINGER AERO
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Lufthansa Technik
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Zlin Aircraft a.s.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. Aircraft Models and Required Number of Wheels
Table 2. Boeing and Airbus: Aircraft Order and Delivery Data, 2018, 2019, and 2020
Table 3. Europe Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Table 4. Europe: Aircraft wheels Market Revenue Share, by Key Country (2020 and 2028)
Table 5. France: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 9. Germany: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Germany: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 11. Germany: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. Germany: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 13. UK: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 15. UK: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 16. UK: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 20. Italy: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 24. Russia: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 26. Rest of Europe: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 27. Rest of Europe: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 28. Rest of Europe: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 29. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Aircraft Wheels Market Segmentation
Figure 2. Europe Aircraft Wheels Market Segmentation – By Country
Figure 3. Europe Aircraft Wheels Market Overview
Figure 4. Europe Aircraft Wheels Market, by Type
Figure 5. Europe Aircraft Wheels Market, by Aircraft Type
Figure 6. Europe Aircraft Wheels Market, by Fit Type
Figure 7. Europe Aircraft Wheels Market, by End-Users
Figure 8. Europe Aircraft Wheels Market, by Country
Figure 9. Porter’s Five Forces Analysis
Figure 10. Aircraft Wheels market- Ecosystem Analysis
Figure 11. Europe Aircraft wheels market Impact Analysis of Drivers and Restraints
Figure 12. Europe: Aircraft wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe: Aircraft wheels Market Revenue Share, by Type (2020 and 2028)
Figure 14. Nose Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Main Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe: Aircraft Wheels Market Revenue Share, by Aircraft Type (2020 and 2028)
Figure 17. Fixed Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Rotary Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. UAV: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe: Aircraft Wheels Market Revenue Share, by Fit Type (2020 and 2028)
Figure 21. Line Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Retro Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe: Aircraft Wheels Market Revenue Share, by End-user (2020 and 2028)
Figure 24. Military: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Commercial: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Geographic Overview of Europe Aircraft wheels market
Figure 27. Europe: Aircraft wheels Market Revenue Share, by Key Country (2020 and 2028)
Figure 28. France: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 29. Germany: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 30. UK: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 31. Italy: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 32. Russia: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 33. Rest of Europe: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 34. Impact of COVID-19 Pandemic in Europe Country Markets
- Collins Aerospace
- Meggitt PLC
- Honeywell International Inc.
- Parker Hannifin Corporation
- BERINGER AERO
- Lufthansa Technik
- Zlin Aircraft a.s.
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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