The Global Aircraft Wheels and Brakes Market Is Estimated to Register a CAGR of More Than 7.3% -2030

December 2020 global aircraft wheels & brakes market. The aircraft wheels & brakes market is estimated to register a CAGR of over 7.5% During 2020-2030

Market Highlights

The aircraft takeoff and landing operations require a robust maintenance and overhaul of the wheels and brakes. They are vital components that are very essential for the aircraft handling operations, such as take-off, landing, and taxiing. The wheels and brakes are essential to all aircraft ground movements as they have to withstand the large temperature, environmental, and force variations, during every flight operation. With a significant increase in the demand for aircraft in the recent years, it is expected that the global market would grow at a rapid pace, during the forecast period. The global aircraft wheels & brakes market has been segmented by wheel type, brake type, end-user, aircraft type, and region. On the basis of wheel type, the aircraft wheels & brakes market is divided into nose wheel and main landing gear wheel. In 2020, the main landing gear wheel segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period.

This is primarily because the main landing gear wheel enables the aircraft to takeoff, land, and taxi without any damage to the aircraft. On the basis of brake type, the aircraft wheels & brakes market is divided into carbon brake and steel brake. In 2017, the carbon brake segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is majorly due to the operational advantages of the carbon brakes such as their longer lives, lighter weight as compared to the steel brakes, high-performance capability, and cost-effectiveness. On the basis of end-user, the aircraft wheels & brakes market is divided into OEM and aftermarket. In 2017, the OEM segment dominated the global market, as the market is headed by the four large OEMs, namely: United Technologies, Honeywell, Safran, and Meggitt. It is expected that the aftermarket segment would witness the fastest market growth, during the forecast period, as there has been a rapid growth in the demand for aftermarket services of the aircraft wheels and tires, in the recent years. On the basis of aircraft type, the aircraft wheels & brakes market is divided into commercial aircraft and military aircraft. In 2017, the commercial aircraft segment dominated the global market, due to the rapid increase in the commercial aircraft deliveries, in the recent years, and it is expected that the military aircraft segment would witness the fastest market growth, during the forecast period.

Key Players

The key players in the global aircraft wheels & brakes market are Safran (France), Lufthansa Technik (Germany), Meggitt Aircraft Braking Systems (US), United Technologies (US), AAR (US), Honeywell International (US), PARKER HANNIFIN CORP (US), Beringer-aero (France), Crane Aerospace & Electronics (US), and Grove Aircraft Landing Gear Systems Inc. (US).