Aircraft Wheels Brakes Market Trends

Global Aircraft Wheels and Brakes Market Overview

Aircraft Wheels and Brakes Market Size was valued at USD 4.61 Billion in 2023. The Aircraft Wheels and Brakes market industry is projected to grow from USD 4.94653 Billion in 2024 to USD 8.11 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.37% during the forecast period (2024 - 2032). Rising airline passengers and technological developments are the key market drivers enhancing market growth.

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Aircraft Wheels and Brakes Market Trends

• 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.

Aircraft Wheels and Brakes Market Segment Insights

Aircraft Wheels and Brakes Wheel Type Insights

The aircraft wheels and brakes market segmentation, based on wheel type, includes nose wheel and main landing gear wheel. In 2022, the main landing gear wheel segment led the aircraft wheels and brakes market in revenue because airplanes rely heavily on their primary landing gear wheel during parking, taxiing, takeoff, and landing.

Aircraft Wheels and Brakes Brake Type Insights

The aircraft wheels and brakes market segmentation, based on brake type, includes carbon brake and steel brake. The carbon brake segment is expected to develop at a CAGR of 7.30% over the projected period, making up the largest market share due to the energy absorption capacity of carbon brakes being higher than that of steel brakes. The impact of this variable on market expansion is anticipated.

Aircraft Wheels and Brakes End-User Insights

The aircraft wheels and brakes market segmentation, based on end-user, includes OEM and aftermarket. The segment with the largest market share in OEM is expected to grow fastest at a CAGR of 7.30% over the next several years. Aerospace original equipment manufacturers (OEMs) have raised the bar for weight reduction in response to the trend toward frugality and ecological consciousness.

Figure 1: Aircraft Wheels and Brakes Market by End-User, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Aircraft Wheels and Brakes Aircraft Type Insights

The aircraft wheels and brakes market segmentation, based on aircraft type, includes commercial and military aircraft. The commercial aircraft industry's top seller is expected to grow fastest at a CAGR of 7.30% in the coming years because of an uptick in aircraft orders and deliveries intended to meet rising passenger demand.

Aircraft Wheels and Brakes Regional Insights

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, MRFR 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.

Aircraft Wheels and Brakes Key Market Players & Competitive Insights

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.

Key Companies in the Aircraft Wheels and Brakes market include.

• Boeing


• Airbus


• Bombardier


• Embraer


• ATR


• Mitsubishi Heavy Industries

For Instance, March 2023 Financiadora de Estudos e Projetos (Finep) is a Brazilian government agency that provides public money for Science, Technology, and Innovation to further Brazil's economic and social development.

For Instance, May 2023 Bombardier has announced that all Challenger 3500 aircraft will come standard with Iridium Certus connectivity, giving customers a stable and fast internet connection. This new offering results from the partnership between Bombardier and Collins Aerospace, the company's preferred service provider for fleetwide connectivity services.

Aircraft Wheels and Brakes Market Segmentation

Aircraft Wheels and Brakes Wheel Type Outlook

• Nose Wheel


• Main Landing Gear Wheel

• Carbon Brake


• Steel Brake

Aircraft Wheels and Brakes End-User Outlook

• OEM


• Aftermarket

Aircraft Wheels and Brakes Aircraft Type Outlook

• Commercial Aircraft


• Military Aircraft

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America