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Aircraft Wheels Market Report
Aircraft Wheels Market, Dynamics, and Market Analysis
The report on the Global Aircraft Wheels Market is segmented by Type (Nose Wheels, Main Landing Gear Wheels), Application (Civil Aircraft, Military Aircraft), Sales Channel (Original Equipment Manufacturers (OEM), Aftermarket), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Aircraft Wheels market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
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.
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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 operating in the global Aircraft Wheels market are-
The growth of the global aircraft wheels market is primarily driven by the rapid growth of the aviation industry across geographies.
By application, the aircraft wheels market has been bifurcated into civil aircraft and military aircraft.
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.
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.
The following is a list of the customers that the Aircraft Wheels Market aims to convert the most:
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The aircraft wheels market size is expected to reach USD 72.5 million in the foreseeable future.
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) are among the key players in the aircraft wheels market.
The aircraft wheels market is expected to witness an impressive growth of 3.5% CAGR in the coming years.
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, growing tourism industry across geographies are the factors driving the growth of aircraft wheels market.
The civil aircraft segment accounted for the largest market share in 2020 and is projected to register significant growth.
North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR.
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