USD 1704.25 million
Aircraft Wheels Market Size, Share, Growth Analysis, By Construction Type(Bias, Radial), By Application(Commercial Aviation, Military Aviation, Ros), By End-User(Aftermarket, OEMs), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2035 |
Region:
Global |
Published Date: April, 2024
Pages:
262
|Tables:
88
|Figures:
76
Aircraft Wheels Market Insights
Aircraft Wheels Market size was valued at USD 1704.25 million in 2019 and is poised to grow from USD 1823.56 million in 2023 to USD 3103.56 million by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
There has been a rising number of aircraft orders in the past few years. This is attributed to increasing commercial aviation. The increasing number of air travel and air traffic has paved growing opportunities for several small to large scale aircraft and aircraft parts manufacturing houses. Additionally, the need to strengthen the defense and military aviation is leveling the way for higher prospects in military aviation. Aircraft wheels are crucial for aircraft landing and take-off. Wheels bear the weight of aircraft and are the reason for safe landing and take-off. Airlines and Big industry players are looking forward to spending on quality and efficient components for aircraft build-up. With increasing air passenger traffic and the high need for aircraft, the prospects for the Aircraft wheel Market are expected to transcend at a high rate in the forecasted period.
US Aircraft Wheels Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Solvent-based
Fastest Growth
Solvent-based
Growth Rate
7.2% CAGR
Global Anti Corrosion Coatings Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Aircraft Wheels Market Segmental Analysis
The Global Aircraft Wheel Market is segmented based on Construction Type, Application, End-User, and Region. Based on Type it is categorized into Bias and Radial. Based on Application it is categorized into Commercial Aviation, and Military Aviation. Based on End-user it is categorized into Aftermarkets and OEMs. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Aircraft Wheels Market Analysis by Construction Type
Based on the Construction Type Aircrafts Wheels Market is segmented into two types of Bias and Radial. Radial Wheels Market share is expected to be high in the estimated year. The rising demands owe attention given to the improved landing cycle of aircraft. Radial Wheels are lighter and oriented perpendicularly in the direction of rotation which makes them suitable for landing.
Aircraft Wheels Market Analysis by Application
Based on the Application Aircrafts Wheels Market is segmented into two types of Commercial Aviation, Military Aviation, and Ros. Commercial Aviation Market share is expected to be high in the estimated year. Due to increased travel and tourism, there has been rapid emergence of big to small aircraft manufacturers and airlines. Emerging economies have paved the way for travel and tourism and hence increase in commercial aviation.
Global Anti Corrosion Coatings Market Share By Method, 2021 (%)
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Aircraft Wheels Market Regional Insights
North America is estimated to have the largest Market share in the projected period. The growth in the Market share owes to the presence of established aviation industries in the region. Rising technological advancements to improve the quality of air travel is contributing to the growth of manufacturing firms.
Additionally, Europe is also poised to showcase high Market share and is expected to generate high revenues in the estimated Markets. This again owes to increased needs for air travel and improved aircraft manufacturing facilities.
Asia Pacific region is accounted to have great potential for the Aircraft Wheel Market due to emerging advancements and facilities in airlines, travel and tourism and establishment of several manufacturing firms in India, China, Japan Aircraft and Aircraft parts manufacturing industry like Mitsubishi, Jaxa contributors of huge share.
Global Anti Corrosion Coatings Market By Geography, 2022 - 2028
- Largest
- Fastest
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Aircraft Wheels Market Dynamics
Aircraft Wheels Market Driver
- There has been a rapid growth in tourism and travel across the globe. Travel and tourism contributed around 5.81 trillion U.S. dollars in 2021 to the Global GDP. Governments and Organisations are taking initiatives to propel tourism. The rapid growth in tourism has paved the way for various Aircraft manufacturing firms and the airline industry. Additionally rising expenditures in Military aviation drive the need for quality manufacturers thereby increasing the demand for Aircraft wheels.
Aircraft Wheels Market Restraint
- One of the most common causes of unintentional airplane movements and ground accidents in civil aviation is the breakdown of the airplane wheel chock.
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Aircraft Wheels Market Competitive Landscape
The Global Aircraft Wheel Market is concentrated, with a few big and small-sized Market participants. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements, and contracts ensuring the development and enhancement of quality to maintain a competitive edge in the market.
Top Aircraft Wheels Market Players Company Profiles
- Safran Landing Systems
- Honeywell International Inc.
- Collins Aerospace (UTC)
- Magellan Aerospace Corporation
- Meggitt PLC
- Beringer Aero
- GKN Aerospace
- Parker Hannifin Corporation
- Dunlop Aircraft Tyres Ltd.
- Michelin Aircraft Tyre
- Goodyear Tire & Rubber Co.
- Aircraft Spruce and Specialty Co.
- Dart Aerospace
- B/E Aerospace, Inc.
- Hutchinson Aerospace & Industry
- Rosen Aviation
- UTC Aerospace Systems
- Grove Aircraft Landing Gear Systems Inc.
- Desser Tire & Rubber Co. LLC
- General Aviation Modifications Inc
Aircraft Wheels Market Recent Developments
- In May 2021, Michelin entered into a three-year supply agreement with MJets Company Limited (MJets) to provide General Aviation tires. Under the agreement, Michelin will deliver tires for Beechcraft, Cessna, Dassault, Gulfstream, Hawker, HondaJet, and King Air aircraft in service of MJets. MJets became Michelin’s General Aviation tires portfolio's authorized dealer in Southeast Asia and India Markets.
- In April 2021, Goodyear was selected by Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) as an exclusive tire provider for the Boeing 737 NG fleet (includes over 130 aircraft) of KLM Royal Dutch Airlines and Transavia Airlines (part of Air France-KLM Group). The agreement is signed for a period of 10 years.
- In June 2019, Meggitt PLC, a renowned international business that specializes in high-performance components and subsystems for the aerospace, defense, and certain energy Markets, was chosen to deliver brake and wheel modifications for the present and future ATR72 fleets.
Aircraft Wheels Key Market Trends
- Commercial aviation segment is witnessing rapid growth. Increased travel and tourism across nations is enticing airlines and manufacturers to collaborate and leverage ways to meet rising demand of aircrafts. The Covid 19 became a reason for slow down, but the Market reinvigorated rapidly and is poisoning ways for various expenditure in aircrafts. Along with this the expenditure in military aviation is also becoming a trending factor to elevate the Market growth or Aircraft wheels in the forecasted period.
Aircraft Wheels Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, current initiatives to build Aircraft that could meet the rising demand of travel and tourism needs along with maintaining the quality standards are paving huge prospects for the Aircraft wheel Market. Rising commercial aviation along with decent expenditure in Military aviation is compelling competitors to indulge in strategic collaboration and developments to cater to the needs of the Market.
To get free trial access to our platform which is a one-stop solution for all your data requirements for quicker decision making. This platform allows you to compare Markets, competitors who are prominent in the Market, and megatrends that are influencing the dynamics in the Market. Also, get access to a detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 1704.25 million |
| Market size value in 2031 | USD 3103.56 million |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aircraft Wheels Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aircraft Wheels Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aircraft Wheels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Wheels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Wheels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Wheels Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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