The global aircraft wheels and brakes market is set to demonstrate a steady growth, which is recorded to be 7% CAGR during the forecast period 2018 to 2023, reveals Market Research Future in its detailed study. The study also reveals the driving factors, segmental analysis, and regional analysis to gain information about the market’s growth.
Key Players:
The prominent players in the global aircraft wheels & brakes market are listed as Crane Aerospace & Electronics (US), PARKER HANNIFIN CORP (US), Meggitt Aircraft Braking Systems (US), United Technologies (US), Lufthansa Technik (Germany), Safran (France), AAR (US), Beringer-aero (France), Honeywell International (US), and Grove Aircraft Landing Gear Systems Inc. (US)
Market Drivers & Trends:
The wheels and brakes play a pivotal part in an aircraft as they handle the aircraft operations. The wheels are the most efficient structural support and strength of the tires, and on the other side, the brakes are essential during the landing and takeoff of an aircraft.
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The factors such as an increase in the number of aircraft across the world, in recent years have initiated the global aircraft wheels and brakes market to proliferate considerably. Due to this, many airline companies are entering the forum and establishing themselves in almost all regions worldwide. The study found that in 2017, over 70 new airline companies were formed across the world with the increasing aircraft deliveries demand. Therefore, for more efficient aircraft, there has been a significant need for the development of aircraft wheels and brakes, which at the same time motivating the global aircraft wheels and brakes market growth.
At the same time, the increase in the manufacture of efficient wheels and brakes have created a determination that the market can achieve astounding valuation during the market’s growth period. Technology and advancements have assisted massively in the aviation industry, which is the result of developments of advanced parts of aircraft such as wheels and brakes, thus motivated the market to expand globally at a rapid pace. On the other hand, the demand for deployment of efficient aircraft wheels and brakes for commercial and military aircraft has also boosted the market to expand, which is further expected to gain more momentum during the assessment period.
Market Segmentation:
The segmental analysis of the global aircraft wheels & brakes market has been done by the elements of wheel type, brake type, end-user, and aircraft type.
In terms of wheel type, the market has included nose wheel and main landing gear wheel. Among these two, the main landing gear wheel segment had the largest market share in 2017 and is now likely to observe the fastest market growth during the assessment period.
In terms of brake type, the market includes carbon brake and steel brake. Out of these, the carbon brake segment recorded to have the largest market share in 2017, and now it is also anticipated to view the fastest market growth in its growth period.
In terms of end-user, the market includes OEM and Aftermarket. Among these, the OEM segment recorded to have the largest market share, and now it is anticipated that the segment of aftermarket would witness the fastest market growth during the coarse period.
In terms of aircraft type, the market is categorized into commercial aircraft and military aircraft. Out of these, the commercial aircraft segment recorded to have the largest market share. Whereas, it is now expected that the military aircraft segment would witness the fastest market growth during the forecast period.
Regional Outlook:
The regional-wise segmentation of the global aircraft wheels and brakes market has been done among the key regions of North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Among these, North America recorded the largest share of the market in 2017, which was significantly owing to the existence of the production base of the largest commercial OEM, Boeing, as well as mounting aircraft retrofit market. Additionally, the incidence of the key aviation companies such as Meggitt Aircraft Braking Systems, Honeywell International, and United Technologies in the region has been known for high development of the aircraft wheels and brakes.
At the same parameter, Asia-Pacific is anticipated to be the fastest-growing market for the aircraft wheels & brakes market, during the assessment period. It is due to the rapidly increasing aircraft deliveries particularly in China and India that the market is proliferating tremendously and would continue to expand double digit in its growth period as anticipated by MRFR’s study.
Table of Content:
1. Executive Summary
2. Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. List of Assumptions
2.2.4. Limitations
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
Continued. . .
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List of Tables:
Table 1 Global Aircraft Wheels & Brakes Market, By Region, 2018–2023
Table 2 North America: Aircraft Wheels & Brakes Market, By Country, 2018–2023
Table 3 Europe: Aircraft Wheels & Brakes Market, By Country, 2018–2023
Table 4 Asia-Pacific: Aircraft Wheels & Brakes Market, By Country, 2018–2023
Table 5 Middle East & Africa: Aircraft Wheels & Brakes Market, By Country, 2018–2023
Continued. . .
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