Dublin, Nov. 05, 2021 (GLOBE NEWSWIRE) -- The "Aircraft Wheels MRO Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Wheel Type, Aircraft Type, and Technology" report has been added to ResearchAndMarkets.com's offering.
The global aircraft wheels MRO market is expected to grow from US$ 1,704.25 million in 2021 to US$ 2,769.54 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028.
The need for aircraft wheels maintenance, repairing, and overhauling (MRO) services has increased significantly in the past few years, owing to the rise in demand for passenger airline services. As per a report by the International Air Transport Association (IATA), the total number of airline passengers in 2020 was 1.8 billion, while the number reached 2.4 billion at the end of April 2021. The growing demand for passenger airline services results in extended flying hours of aircraft and frequent landing and takeoffs. The extended operational hours of aircraft lead to a greater risk of wear and tear on aircraft wheels, subsequently underlining the need for a more frequent wheel retrofitting.
In addition, major airline companies worldwide are expanding their aircraft fleets to meet the escalating demand for airline services. In October 2019, Indigo Airlines decided to extend its aircraft fleet size and ordered 300 Airbus 320 neo aircraft. The increasing aircraft fleet size is further fueling the businesses of aircraft wheels MRO companies.
Key companies in the aircraft wheels MRO market include AAR Corp; Aerorepair Corp.; Aerospace MRO Co., Ltd..; AIR Atlanta AVIAServices; AMETEK Inc; Lufthansa Technik; Roder Prazision GmbH; Technic Aviation; TP Aerospace and World Aero. The report also comprises secondary research work on other companies that hold a significant market share.
Key report benefits:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the aircraft wheels MRO market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the aircraft wheels MRO market thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Companies Mentioned
- AAR Corp
- AeroRepair Corp.
- AEROSPACE MRO Co., Ltd.
- Air Atlanta Aviaservices
- AMETEK Inc.
- Lufthansa Technik
- Roder Prazision GmbH
- Technic Aviation
- TP Aerospace.
- World Aero
For more information about this report visit https://www.researchandmarkets.com/r/vdix3e
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