Aircraft Wheels Market Report

Market Insights

The Global Aircraft Wheels Market is projected to grow from USD 59.1 million in 2020 to USD 72.5 million by 2026 at a CAGR of around 3.5% during the forecast period.

Figure: Global Aircraft Wheels Market Size, 2020-2026 (USD Million)

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What is Aircraft wheels Market?

The Aircraft wheels support the entire weight of the aircraft during take-off and landing. These are important components of a landing gear system. Aircraft wheels can be categorized as nose wheels and main landing gear wheels.

Key Players

Key players operating in the global Aircraft Wheels market ­are-

• ­­United Technologies Corporation (The U.S),
• Beringer Aero U.S.A., Inc. (The U.S),
• Honeywell International Inc. (The U.S),
• Parker Hannifin Corporation (The U.S),
• Aircraft Landing Gear Systems Inc. (The U.S),
• Meggitt PLC (UK),
• Magnum Aviation (India),
• NMG Aerospace (The U.S),
• Crane Aerospace & Electronics (The U.S), and
• Grove Aircraft Landing Gear Systems Inc. (The U.S).

Market Dynamics

The growth of the global aircraft wheels market is primarily driven by the rapid growth of the aviation industry across geographies.

• Increasing air traffic in developing countries coupled with the rising per capita disposable income of the consumers is expected to propel the market growth at a significant rate during the review period.
• The growing tourism industry across geographies is another important key factor propelling the market growth.
• In addition to this, increasing demand for high-quality aircraft wheels is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segments' Analysis

Application Trends

By application, the aircraft wheels market has been bifurcated into civil aircraft and military aircraft.

• The civil aircraft segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
• The segment growth can be attributed to increasing demand for aircraft with rising air traffic, particularly in developing economies.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.

• The regional growth can be attributed to established presence of aviation industry and presence of key market players such as United Technologies Corporation (US) and Beringer Aero U.S.A., Inc. (US).
• The market in Asia-Pacific is expected to be driven by significant growth of the aviation industry particularly in China and India.

COVID-19 Impact on Global Aircraft Wheels Market

Covid-19 outbreak impacted the growth of the aircraft wheels market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which affected the product supply and demand.

Critical Questions Answered in the Report

• What are the key trends in the global Aircraft Wheels market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global Aircraft Wheels market?
• What are the key strategies adopted by the major vendors to lead in the global Aircraft Wheels market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Aircraft Wheels Market aims to convert the most:

• Aircraft wheels distributors
• Aircraft wheels suppliers
• Aircraft wheels manufacturers
• Logistics organizations
• Government bodies

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