PUBLISHER: The Insight Partners | PRODUCT CODE: 1874037
PUBLISHER: The Insight Partners | PRODUCT CODE: 1874037
Aircraft Wheels & Brakes Market
The market for aircraft wheels and brakes is anticipated to grow from US$ 8.73 billion in 2024 to US$ 15.40 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.81% during the period from 2031 to 2031. A significant trend in this market is the increasing adoption of electric brakes and wheels made from fiber-reinforced plastics.
Analysis of the Aircraft Wheels & Brakes Market
This market is primarily led by established companies such as Honeywell International Inc, Parker Hannifin Corporation, Safran Group, and Crane Aerospace & Electronics. There is a strong demand for wheels and brakes from aircraft manufacturers, but most contracts tend to go to these well-known players. The production of these components must adhere to various regulatory standards, necessitating multiple certifications and substantial investments in research and development, which poses a barrier to entry for new competitors. Consequently, the threat of new entrants is currently high; however, as aircraft production volumes increase, new players are expected to emerge, potentially reducing this threat as smaller or mid-sized aircraft manufacturers may seek advanced technology wheels and brakes at competitive prices from these newcomers.
Overview of the Aircraft Wheels & Brakes Market
The ecosystem of the aircraft wheels and brakes market includes several stakeholders: suppliers of raw materials and components, manufacturers of wheels and brakes, aircraft manufacturers, and end-users. Manufacturers of aircraft wheels and brakes source raw materials such as steel, aluminum, magnesium alloys, and carbon friction materials, along with components like sensors and actuators from various suppliers. They then assemble these materials into finished products. These manufacturers collaborate closely with aviation authorities, raw material suppliers, aircraft manufacturers, and end-users. Notable players in the market include Collins Aerospace, Honeywell International Inc, Safran Group, and Parker Hannifin Corporation. Aircraft manufacturers purchase wheels and brakes from these suppliers and install them on their fleets during the line fit process. End-users, including airline companies, military forces, and MRO service providers, secure contracts for maintenance, repair, and overhaul (MRO) services for aircraft wheels and brakes. MRO providers consistently acquire wheels and brakes from market players to meet the growing demand for their services.
Strategic Insights
Drivers and Opportunities in the Aircraft Wheels & Brakes Market
Increase in Commercial Aircraft Deliveries
The surge in commercial aircraft deliveries across various regions is propelling the growth of the wheels and brakes market. The mass production of commercial aircraft is driving the need for new wheels and brakes installations. For example, Airbus delivered approximately 735 aircraft in 2023, marking an 11% increase from 2022. Additionally, the expanding global commercial aircraft fleet is further fueling demand for wheels and brakes. According to research from The Insight Partners, the global commercial aircraft fleet was around 27,385 in 2023 and is projected to grow to 28,398 by 2024. These factors are significantly boosting the installation of aircraft wheels and brakes worldwide.
Growth in the Aircraft MRO Industry
The aviation industry has been rapidly expanding in recent years, leading to increased demand for airline MRO services. Emerging economies, particularly in the Asia-Pacific region, are focusing on enhancing MRO services for both commercial and military aircraft. Economic growth, rising air passenger numbers, and increased spending on aviation infrastructure in APAC countries are key drivers of the growth in aircraft MRO services, which in turn presents lucrative opportunities for the aircraft wheels and brakes market. Furthermore, The Insight Partners predicts that the global aircraft MRO industry will exceed US$ 140 billion by 2034, likely generating new demand for aircraft wheels and brakes in the future.
Segmentation Analysis of the Aircraft Wheels & Brakes Market
Key segments contributing to the analysis of the aircraft wheels and brakes market include component, fit type, and end user.
- The market is segmented by component into braking systems, wheels, and brakes, with the brakes segment holding the largest market share in 2024.
- By fit type, the market is divided into line fit and retrofit, with the retrofit segment also holding a larger market share in 2024.
- In terms of end users, the market is segmented into defense and commercial sectors, with the commercial segment leading in market share in 2024.
Geographical Market Share Analysis for Aircraft Wheels & Brakes
The geographical analysis of the aircraft wheels and brakes market is categorized into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
In 2024, the Asia Pacific region led the market, followed by North America and Europe. Asia Pacific is also expected to experience the highest CAGR in the coming years. China was the dominant player in the Asia Pacific aircraft wheels and brakes market in 2024, driven by MRO operations for its large fleet. For instance, in 2024, China's commercial aircraft fleet was reported at 4,126 and is projected to grow to approximately 6,429 by 2034. Additionally, Airbus forecasts that over 9,000 aircraft will be delivered in China between 2024 and 2042, creating new opportunities for market vendors in the years ahead.
Scope of the Aircraft Wheels & Brakes Market Report
Recent Developments in the Aircraft Wheels & Brakes Market
The aircraft wheels and brakes market is assessed through qualitative and quantitative data collected from primary and secondary research, including significant corporate publications, association data, and databases. Some recent developments in the market include:
- Safran Landing Systems has opened a newly renovated laboratory at its Velizy-Villacoublay site in France, dedicated to testing its wheels and carbon brakes, featuring a new test bench. The company has invested a total of 10 million euros in this project, enhancing its capacity to develop and qualify higher-performance, more durable, and competitive brakes across various aviation segments. (Source: Safran, Press Release, Apr 2024)
- Parker-Hannifin Corporation has completed the sale of its Aircraft Wheel and Brake Division, located in Avon, Ohio, to Kaman Corporation, a leading manufacturer of aerospace and defense components. (Source: Parker-Hannifin Corporation, Press Release, Sep 2022)
Coverage and Deliverables of the Aircraft Wheels & Brakes Market Report
The report titled "Aircraft Wheels & Brakes Market Size and Forecast (2021-2031)" provides a comprehensive analysis of the market, covering the following areas:
- Market size and forecast for aircraft wheels and brakes at global, regional, and country levels across all key segments.
- Market trends and dynamics, including drivers, restraints, and key opportunities.
- A detailed analysis using Porter's five forces framework.
- Market analysis covering key trends, global and regional frameworks, major players, regulations, and recent developments.
- Industry landscape and competitive analysis, including market concentration, heat map analysis, prominent players, and recent developments in the aircraft wheels and brakes market.
- In-depth company profiles.
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Aircraft Wheels and Brakes Market Landscape
- 4.1 Market Overview
- 4.2 Porter’s Five Forces Analysis
- 4.3 Ecosystem Analysis
5. Aircraft Wheels and Brakes and Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Increasing Use of Durable, Lightweight, Sturdy Carbon Brakes
- 5.1.2 Growing Demand for Passenger Airline Services
- 5.2 Market Restraints
- 5.2.1 Recall of B737 Max and Discontinuation of A380 and B747 Manufacturing
- 5.3 Market Opportunities
- 5.3.1 Burgeoning Demand for MRO Activities in Emerging Economies
- 5.4 Future Trends
- 5.4.1 Electric Brakes and Fiber-Reinforced Plastic Wheels
- 5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Wheels and Brakes Market and Global Market Analysis
- 6.1 Global Aircraft Wheels and Brakes Market Overview
- 6.2 Global Aircraft Wheels and Brakes Market Revenue Forecast and Analysis
- 6.3 Market Positioning and Five Key Players
7. Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 and Component
- 7.1 Overview
- 7.2 Aircraft Wheels and Brakes Market, By Component (2020 and 2031)
- 7.3 Braking Systems
- 7.3.1 Overview
- 7.3.2 Braking System: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
- 7.4 Wheels
- 7.4.1 Overview
- 7.4.2 Wheels: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
- 7.5 Brakes
- 7.5.1 Overview
- 7.5.2 Brakes: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
8. Aircraft Wheels and Brakes Market Analysis and Forecasts to 2031 and Fit Type
- 8.1 Overview
- 8.2 Aircraft Wheels and Brakes Market, By Fit Type (2020 and 2031)
- 8.3 Line Fit
- 8.3.1 Overview
- 8.3.2 Line Fit: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
- 8.4 Retro Fit
- 8.4.1 Overview
- 8.4.2 Retro Fit: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
9. Aircraft Wheels and Brakes Market Analysis and Forecasts to 2031 and End User
- 9.1 Overview
- 9.2 Aircraft Wheels and Brakes Market, By End User (2020 and 2031)
- 9.3 Defense
- 9.3.1 Overview
- 9.3.2 Defense: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
- 9.4 Commercial
- 9.4.1 Overview
- 9.4.2 Commercial: Aircraft Wheels and Brakes Market Revenue and Forecasts to 2031 (US$ Million)
10. Aircraft Wheels and Brakes Market and Geographic Analysis
- 10.1 Overview
- 10.2 North America: Aircraft Wheels and Brakes Market
- 10.2.1 North America: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.2.2 North America: Aircraft Wheels and Brakes Market, by Component
- 10.2.3 North America: Aircraft Wheels and Brakes Market, by Fit Type
- 10.2.4 North America: Aircraft Wheels and Brakes Market, by End User
- 10.2.5 North America: Aircraft Wheels and Brakes Market, by Key Country
- 10.2.6 US: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.2.6.1 US: Aircraft Wheels and Brakes Market, by Component
- 10.2.6.2 US: Aircraft Wheels and Brakes Market, by Fit Type
- 10.2.6.3 US: Aircraft Wheels and Brakes Market, by End User
- 10.2.7 Canada: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.2.7.1 Canada: Aircraft Wheels and Brakes Market, by Component
- 10.2.7.2 Canada: Aircraft Wheels and Brakes Market, by Fit Type
- 10.2.7.3 Canada: Aircraft Wheels and Brakes Market, by End User
- 10.2.8 Mexico: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.2.8.1 Mexico: Aircraft Wheels and Brakes Market, by Component
- 10.2.8.2 Mexico: Aircraft Wheels and Brakes Market, by Fit Type
- 10.2.8.3 Mexico: Aircraft Wheels and Brakes Market, by End User
- 10.3 Europe: Aircraft Wheels and Brakes Market
- 10.3.1 Europe: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.2 Europe: Aircraft Wheels and Brakes Market, by Component
- 10.3.3 Europe: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.4 Europe: Aircraft Wheels and Brakes Market, by End User
- 10.3.5 Europe: Aircraft Wheels and Brakes Market, by Key Country
- 10.3.6 France: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.6.1 France: Aircraft Wheels and Brakes Market, by Component
- 10.3.6.2 France: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.6.3 France: Aircraft Wheels and Brakes Market, by End User
- 10.3.7 Germany: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.7.1 Germany: Aircraft Wheels and Brakes Market, by Component
- 10.3.7.2 Germany: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.7.3 Germany: Aircraft Wheels and Brakes Market, by End User
- 10.3.8 Italy: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.8.1 Italy: Aircraft Wheels and Brakes Market, by Component
- 10.3.8.2 Italy: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.8.3 Italy: Aircraft Wheels and Brakes Market, by End User
- 10.3.9 UK: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.9.1 UK: Aircraft Wheels and Brakes Market, by Component
- 10.3.9.2 UK: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.9.3 UK: Aircraft Wheels and Brakes Market, by End User
- 10.3.10 Russia: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.10.1 Russia: Aircraft Wheels and Brakes Market, by Component
- 10.3.10.2 Russia: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.10.3 Russia: Aircraft Wheels and Brakes Market, by End User
- 10.3.11 Rest of Europe: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.3.11.1 Rest of Europe: Aircraft Wheels and Brakes Market, by Component
- 10.3.11.2 Rest of Europe: Aircraft Wheels and Brakes Market, by Fit Type
- 10.3.11.3 Rest of Europe: Aircraft Wheels and Brakes Market, by End User
- 10.4 Asia Pacific: Aircraft Wheels and Brakes Market
- 10.4.1 Asia Pacific: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.2 Asia Pacific: Aircraft Wheels and Brakes Market, by Component
- 10.4.3 Asia Pacific: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.4 Asia Pacific: Aircraft Wheels and Brakes Market, by End User
- 10.4.5 Asia Pacific: Aircraft Wheels and Brakes Market, by Key Country
- 10.4.6 Australia: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.6.1 Australia: Aircraft Wheels and Brakes Market, by Component
- 10.4.6.2 Australia: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.6.3 Australia: Aircraft Wheels and Brakes Market, by End User
- 10.4.7 China: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.7.1 China: Aircraft Wheels and Brakes Market, by Component
- 10.4.7.2 China: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.7.3 China: Aircraft Wheels and Brakes Market, by End User
- 10.4.8 India: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.8.1 India: Aircraft Wheels and Brakes Market, by Component
- 10.4.8.2 India: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.8.3 India: Aircraft Wheels and Brakes Market, by End User
- 10.4.9 Japan: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.9.1 Japan: Aircraft Wheels and Brakes Market, by Component
- 10.4.9.2 Japan: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.9.3 Japan: Aircraft Wheels and Brakes Market, by End User
- 10.4.10 South Korea: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.10.1 South Korea: Aircraft Wheels and Brakes Market, by Component
- 10.4.10.2 South Korea: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.10.3 South Korea: Aircraft Wheels and Brakes Market, by End User
- 10.4.11 Rest of APAC: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.4.11.1 Rest of APAC: Aircraft Wheels and Brakes Market, by Component
- 10.4.11.2 Rest of APAC: Aircraft Wheels and Brakes Market, by Fit Type
- 10.4.11.3 Rest of APAC: Aircraft Wheels and Brakes Market, by End User
- 10.5 MEA: Aircraft Wheels and Brakes Market
- 10.5.1 MEA: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.5.2 MEA: Aircraft Wheels and Brakes Market, by Component
- 10.5.3 MEA: Aircraft Wheels and Brakes Market, by Fit Type
- 10.5.4 MEA: Aircraft Wheels and Brakes Market, by End User
- 10.5.5 MEA: Aircraft Wheels and Brakes Market, by Key Country
- 10.5.6 Saudi Arabia: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.5.6.1 Saudi Arabia: Aircraft Wheels and Brakes Market, by Component
- 10.5.6.2 Saudi Arabia: Aircraft Wheels and Brakes Market, by Fit Type
- 10.5.6.3 Saudi Arabia: Aircraft Wheels and Brakes Market, by End User
- 10.5.7 UAE: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.5.7.1 UAE: Aircraft Wheels and Brakes Market, by Component
- 10.5.7.2 UAE: Aircraft Wheels and Brakes Market, by Fit Type
- 10.5.7.3 UAE: Aircraft Wheels and Brakes Market, by End User
- 10.5.8 South Africa: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.5.8.1 South Africa: Aircraft Wheels and Brakes Market, by Component
- 10.5.8.2 South Africa: Aircraft Wheels and Brakes Market, by Fit Type
- 10.5.8.3 South Africa: Aircraft Wheels and Brakes Market, by End User
- 10.5.9 Rest of MEA: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.5.9.1 Rest of MEA: Aircraft Wheels and Brakes Market, by Component
- 10.5.9.2 Rest of MEA: Aircraft Wheels and Brakes Market, by Fit Type
- 10.5.9.3 Rest of MEA: Aircraft Wheels and Brakes Market, by End User
- 10.6 SAM: Aircraft Wheels and Brakes Market
- 10.6.1 SAM: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.6.2 SAM: Aircraft Wheels and Brakes Market, by Component
- 10.6.3 SAM: Aircraft Wheels and Brakes Market, by Fit Type
- 10.6.4 SAM: Aircraft Wheels and Brakes Market, by End User
- 10.6.5 SAM: Aircraft Wheels and Brakes Market, by Key Country
- 10.6.6 Brazil: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.6.6.1 Brazil: Aircraft Wheels and Brakes Market, by Component
- 10.6.6.2 Brazil: Aircraft Wheels and Brakes Market, by Fit Type
- 10.6.6.3 Brazil: Aircraft Wheels and Brakes Market, by End User
- 10.6.7 Argentina: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.6.7.1 Argentina: Aircraft Wheels and Brakes Market, by Component
- 10.6.7.2 Argentina: Aircraft Wheels and Brakes Market, by Fit Type
- 10.6.7.3 Argentina: Aircraft Wheels and Brakes Market, by End User
- 10.6.8 Rest of SAM: Aircraft Wheels and Brakes Market and Revenue and Forecasts to 2031 (US$ Million)
- 10.6.8.1 Rest of SAM: Aircraft Wheels and Brakes Market, by Component
- 10.6.8.2 Rest of SAM: Aircraft Wheels and Brakes Market, by Fit Type
- 10.6.8.3 Rest of SAM: Aircraft Wheels and Brakes Market, by End User
11. Aircraft Wheels and Brakes Market - COVID-19 Impact Analysis
- 11.1 Overview
- 11.1.1 North America: Impact Assessment of COVID-19 Pandemic
- 11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
- 11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
- 11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
- 11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Merger and Acquisition
13. Company Profiles
- 13.1 BERINGER AERO
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Collins Aerospace
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Honeywell International Inc.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Meggitt PLC
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Parker Hannifin Corporation
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Safran
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 MATCO Manufacturing Inc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 JAY-Em Aerospace and Machine, Inc.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Grove Aircraft Landing Gear System Inc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Crane Aerospace and Electronics
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index
