Dublin, Nov. 04, 2021 (GLOBE NEWSWIRE) -- The "Aircraft Wheels Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Main Wheel and Nose Wheel), Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft, and UAV), Fit Type (Line Fit and Retrofit), and End User (Commercial and Military)" report has been added to ResearchAndMarkets.com's offering.
The global aircraft wheels 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% during 2021-2028.
The conventional aircraft wheels are made of magnesium alloys. However, in modern times, manufacturers are increasingly exploring lightweight materials to manufacture aircraft wheels to attain great durability and low maintenance. Also, aircraft wheels made of lightweight alloys help aircraft manufacturers achieve optimum fuel efficiency levels by reducing some portion of aircraft weight. Thus, in the wake of new technological developments in aircraft wheels, manufacturers are extensively using various types of aluminum alloys to make the wheels light in weight and with better corrosion resistance.
For instance, UTC Aerospace Systems (UTAS) is exploring a silver-based aluminum alloy to develop aircraft wheels. The strength of new wheels made of silver-based aluminum is expected to increase by about 20%. In addition, the new silver-based aluminum alloy is projected to increase damage tolerance by around 70%, owing to its stiffness and improved corrosion resistance. The silver-based aluminum variant is also likely to make the aircraft wheels lighter and reduce maintenance downtime. Hence, the rising adoption of lightweight alloys to manufacture aircraft wheels is driving the aircraft wheels market.
The aircraft wheels market is segmented based on type, aircraft type, fit type, end user, and geography. Based on type, the market is bifurcated into main wheel and nose wheel. In 2020, the main wheel segment accounted for the largest share of the market. In terms of aircraft type, the aircraft wheels market is categorized into fixed wing aircraft, rotary wing aircraft, and unmanned aerial vehicle (UAV). In 2020, the fixed wing segment accounted for a substantial share of the market. Based on fit type, the market is bifurcated into line fit and retrofit. In 2020, the retrofit segment dominated the market in terms of fit type. Based on end user, the market is segmented into military and commercial. In 2020, the commercial segment accounted for the largest share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.
The global economic crisis and the supply chain disruptions caused by the COVID-19 pandemic have hindered the growth of the aircraft wheels market, especially in 2020 and 2021. Production delays, inventory discrepancies, unreliable staffing, and supply shortages have also adversely impacted the overall market growth. The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. Until the outbreak, the aerospace industry was experiencing substantial growth in terms of production.
Despite huge backlogs from aircraft manufacturers, the global aviation industry witnessed a significant rise in the number of passengers count and an increase in aircraft procurement before the pandemic. Unfortunately, the COVID-19 outbreak has decimated the demand for aircraft globally, which reflected significantly lower volumes of orders among aircraft manufacturers and resulted in a lower number of productions. The decline in production volumes adversely affected the businesses of various component manufacturers and associated technologies. Thus, the aircraft wheels market players' businesses have been severely affected by destabilization in aircraft production.
The major players operating in the global aircraft wheels market include Collins Aerospace, Meggitt PLC, Honeywell International Inc, Parker Hannifin Corporation, BERINGER AERO, Lufthansa Technik, Grove Aircraft Landing Gear System Inc, MATCO Manufacturing Inc, NMG Aerospace, and Zlin Aircraft a.s.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the aircraft wheels market.
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- The key findings and recommendations highlight crucial progressive industry trends in the aircraft wheels 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 US 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
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Aircraft Wheels market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Aircraft Wheels market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Volumes of Aircraft Orders and Their Deliveries
5.1.2 Growing Adoption of Lightweight Alloy to Manufacture Aircraft wheels
5.2 Market Restraint
5.2.1 Increased Life Span of Aircraft wheels
5.3 Market Opportunity
5.3.1 Rising Application of Carbon-Fiber-Reinforced Plastic-Based Wheels for Rotary Wing Aircraft
5.4 Future Trend
5.4.1 Increasing Use of CFRP Composite in Aircraft Nose Wheel Manufacturing
5.5 Impact Analysis of Drivers And Restraints
6. Aircraft Wheels - Global Market Analysis
6.1 Global Aircraft Wheels Market Overview
6.2 Global Aircraft Wheels Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Aircraft Wheels Market Analysis - By Type
7.1 Overview
7.2 Aircraft Wheels Market , By Type (2020 And 2028)
7.3 Nose Wheel
7.3.1 Overview
7.3.2 Nose Wheel: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
7.4 Main Wheel
7.4.1 Overview
7.4.2 Main Wheel: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
8. Global Aircraft Wheels Market Analysis - By Aircraft Type
8.1 Overview
8.2 Aircraft Wheels Market , By Aircraft Type (2020 And 2028)
8.3 Fixed Wing Aircraft
8.3.1 Overview
8.3.2 Fixed Wing Aircraft: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
8.4 Rotary Wing Aircraft
8.4.1 Overview
8.4.2 Rotary Wing Aircraft: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
8.5 UAV
8.5.1 Overview
8.5.2 UAV: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
9. Global Aircraft Wheels Market Analysis - By Fit Type
9.1 Overview
9.2 Aircraft Wheels Market , By Fit Type (2020 and 2028)
9.3 Line Fit
9.3.1 Overview
9.3.2 Line Fit: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
9.4 Retro Fit
9.4.1 Overview
9.4.2 Retro Fit: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
10. Global Aircraft Wheels Market Analysis - By End User
10.1 Overview
10.2 Aircraft Wheels Market , By End User (2020 and 2028)
10.3 Military
10.3.1 Overview
10.3.2 Military: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
10.4 Commercial
10.4.1 Overview
10.4.2 Commercial : Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
11. Aircraft wheels Market - Geographic Analysis
12. Aircraft wheels market - Covid-19 Impact Analysis
12.1 Overview
12.1.1 North America: Impact Assessment of COVID-19 Pandemic
12.1.2 Europe: Impact Assessment of COVID-19 Pandemic
12.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
12.1.5 South America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. COMPANY PROFILES
14.1 Collins Aerospace
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Meggitt PLC
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Honeywell International Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Parker Hannifin Corporation
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 BERINGER AERO
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Lufthansa Technik
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Grove Aircraft Landing Gear System Inc
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 MATCO Manufacturing Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 NMG Aerospace
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Zlin Aircraft a.s.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
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