Aircraft Wheels Brakes Market

• Growing modern technological progress is driving the market growth.

Market CAGR for aircraft wheels and brakes is driven by the significant increase worldwide, and airlines are placing orders for brand-new planes loaded with the latest innovations in aviation technology. The aerospace industry designs planes with cutting-edge technologies and components in response to airline demand. There has been a shift toward using electric brakes and fiber-reinforced plastic wheels on airplanes because of their many advantages over traditional aircraft brake systems, such as lower fuel costs and fewer greenhouse gas emissions from the lighter planes.

Installation and maintenance of these brake systems are straightforward, making retrofitting an easier prospect for aviation MRO service providers. This increase in the demand for new airplanes would directly affect aircraft brake and wheel system sales.

Additionally, electric brake systems facilitate airplane operations by incorporating high-tech functions like continuous monitoring of carbon disk wear and instantaneous data transmission to the cockpit. Brakes with an anti-oxidation coating last longer and are safer for de-icing agents. Several versions of military aircraft utilize electric brakes extensively, but the B787 Dreamliner is the only model of commercial aircraft to use electronic brakes. Its popularity among aircraft makers can be attributed to its cutting-edge capabilities, such as real-time evaluation reporting and data transmission.

Because of these advantages, electric brake systems will rise rapidly in popularity in the aviation wheels and brakes industry shortly. Several companies focus on creating fiber-reinforced plastic wheels, spurring conceptual innovations in the aircraft wheel production sector. Wheels take the brunt of the aircraft's dynamic and thermal loads during takeoff and landing. Hence several parties are looking into alternatives to aluminum and magnesium as production raw materials. As a result, carbon fiber-reinforced plastic wheels are becoming increasingly popular in the aerospace industry.

For instance, Boeing, the Korea Evaluation Institute of Industrial Technology (KEIT), and the Korea Institute for the Advancement of Technology (KIAT) have agreed to work together on developing cutting-edge production systems for the Korean aerospace industry. It includes commercial aircraft production, urban air mobility, aerospace semiconductors, and the development of local talent. As a result, the demand for aircraft wheels and brakes is anticipated to increase throughout the projection period due to the rising facilities. Thus, the driving factor is aircraft wheels and brakes market revenue.

The Global Aircraft Wheels and Brakes Market Industry is poised for substantial growth, with projections indicating a market value of 9.76 USD Billion by 2035. This growth trajectory reflects the increasing investments in aerospace technology and infrastructure, alongside the rising demand for efficient and reliable aircraft components. The anticipated CAGR of 6.37% from 2025 to 2035 suggests a robust expansion phase, driven by technological advancements and the need for compliance with evolving safety standards. As the aviation industry continues to evolve, the market for aircraft wheels and brakes is likely to adapt, presenting opportunities for innovation and development.

The Global Aircraft Wheels and Brakes Market Industry experiences a notable surge in demand driven by the increasing number of commercial and cargo aircraft. As airlines expand their fleets to accommodate rising passenger numbers and global trade, the market is projected to reach 4.95 USD Billion in 2024. This growth is further fueled by the need for efficient and reliable braking systems that enhance safety and performance. The demand for lightweight and durable materials in aircraft wheels and brakes is also on the rise, as manufacturers seek to improve fuel efficiency and reduce operational costs.

Sustainability initiatives are becoming increasingly prominent within the Global Aircraft Wheels and Brakes Market Industry. As environmental concerns grow, manufacturers are focusing on developing eco-friendly materials and processes for aircraft wheels and brakes. This shift not only aligns with global sustainability goals but also meets the expectations of environmentally conscious consumers. Airlines are investing in sustainable technologies to reduce their carbon footprint, which includes upgrading to more efficient braking systems. The commitment to sustainability is likely to shape market trends, as companies that prioritize eco-friendly practices may gain a competitive edge in the evolving aviation landscape.

Innovations in materials science significantly influence the Global Aircraft Wheels and Brakes Market Industry. The introduction of advanced composite materials and high-performance alloys enhances the durability and performance of aircraft wheels and brakes. These materials not only reduce weight but also improve resistance to wear and thermal stress. As a result, manufacturers are increasingly adopting these technologies to meet stringent safety regulations and performance standards. The ongoing research and development efforts in this domain suggest a promising future for the market, with potential growth as airlines prioritize safety and efficiency in their operations.

The Global Aircraft Wheels and Brakes Market Industry is heavily influenced by stringent regulatory compliance and safety standards imposed by aviation authorities worldwide. These regulations necessitate the use of high-quality materials and advanced braking systems to ensure passenger safety. As airlines and manufacturers strive to meet these standards, there is a growing emphasis on the development of innovative braking technologies. This trend is expected to drive market growth, as companies invest in research and development to enhance the safety and reliability of their products. Compliance with these regulations not only boosts market demand but also fosters consumer confidence in air travel.

Emerging markets are witnessing rapid growth in the aerospace sector, which significantly impacts the Global Aircraft Wheels and Brakes Market Industry. Countries such as India and China are expanding their aviation infrastructure, leading to an increase in aircraft manufacturing and maintenance activities. This expansion creates a substantial demand for aircraft wheels and brakes, as new aircraft are introduced into service. The market is projected to grow at a CAGR of 6.37% from 2025 to 2035, indicating a robust future driven by the burgeoning aerospace industry in these regions. The increasing middle-class population in these countries further fuels air travel demand.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American aircraft wheels and brakes market will dominate because of the massive quantity of airplanes manufactured for both civilian and military use and the ever-increasing number of people who travel by air.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: AIRCRAFT WHEELS AND BRAKES MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe’s aircraft wheels and brakes market accounts for the second-largest market share because Boeing is the largest commercial OEM, and the retrofit industry is growing. Further, the German aircraft wheels and brakes market held the largest market share, and the UK aircraft wheels and brakes market was the fastest-growing market in the European region.

The Asia-Pacific aircraft wheels and brakes market is expected to grow at the fastest CAGR from 2023 to 2032. Due to digitalization, improving the aircraft industry's technical outlook and population growth, budget airlines are increasingly investing in aircraft wheels, brakes, and connections to provide a better customer experience. Moreover, China’s aircraft wheels and brakes market held the largest market share, and the Indian aircraft wheels and brakes market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the aircraft wheel and brakes market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the aircraft wheels and brakes industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the aircraft wheels and brakes industry to benefit clients and increase the market sector. In recent years, the aircraft wheels and brakes industry has offered some of the most significant technological advancements. Major players in the aircraft wheels and brakes market, including Boeing, Airbus, Bombardier, Embraer, ATR, Mitsubishi Heavy Industries, and others, are attempting to increase market demand by investing in research and development operations.

Boeing is the world's largest aerospace corporation, designing, building, and servicing aircraft for commercial airlines, the military, and the space industry. The Company, a leader in U.S. exports, promotes economic opportunity, sustainability, and community impact by drawing on the skills of its worldwide supplier network. Boeing's multicultural staff is dedicated to looking ahead optimistically, setting the standard for environmental leadership, and fostering a culture based on the Company's guiding principles of safety, quality, and integrity.

In April 2023, Boeing and Azerbaijan Airlines announced that the national flag carrier had purchased eight 787-8 Dreamliners to bolster the expansion of its long-haul fleet. The fuel-efficient planes will let the Central Asian airline increase its capacity for incoming tourists and create new flights out of Azerbaijan at a profit.

Bombardier is a market leader in the aviation industry, producing and maintaining some of the world's finest business jets. Bombardier's Challenger and aircraft series have earned a stellar reputation for their cutting-edge engineering, interior design, performance, and dependability. Bombardier's fleet comprises about 5,000 planes with various multinational corporations' charter, fractional ownership providers, governments, and private individuals. Because of Bombardier Defense's track record, Bombardier planes are also used by governments and militaries for specific missions. Bombardier has offices and factories across Canada, the United States, and Mexico, with its main office located in Greater Montréal, Québec.

The Company's customer support network comprises locations in the US, Canada, the UK, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China, and Australia, where the Learjet, Challenger, and aircraft families are serviced. In May 2023, Bombardier is happy to announce that its credit rating has been raised by S&P Ratings from B- to B due to the Company's strong execution, stable backlog, and professional management of supply chain risks.