Market Scenario:
The wheels and brakes are critical components of an aircraft and are crucial in the aircraft handling operations. While the wheels provide the structural support and strength to the tires, the brakes play a vital role during the landing and takeoff of an aircraft.
The modern-day aircraft wheels are manufactured by the casting or forging processes, and they are specifically designed to accommodate multiple disc brake variants. Moreover, these wheels are made as light as possible in order to achieve low fuel consumption for the aircraft. They play a vital role by taking up the major load of the aircraft, during the landing and takeoff operations. Similarly, the aircraft brakes, which are deployed on the aircrafts’ main wheels, play a vital role as during engine run-ups, they also restrict and restrain the aircraft from gaining motion. Moreover, by means of the advanced differential braking systems, the aircraft can also be steered on ground, which is currently being deployed in the commercial and military aircraft.
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The global aircraft wheels & brakes market has been segmented by wheel type, brake type, end-user, aircraft type, and region. On the basis of wheel type, the aircraft wheels & brakes market is divided into nose wheel and main landing gear wheel. In 2017, the main landing gear wheel segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is primarily because the main landing gear wheel enables the aircraft to takeoff, land, and taxi without any damage to the aircraft. On the basis of brake type, the aircraft wheels & brakes market is divided into carbon brake and steel brake. In 2017, the carbon brake segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is majorly due to the operational advantages of the carbon brakes such as their longer lives, lighter weight as compared to the steel brakes, high-performance capability, and cost-effectiveness. On the basis of end-user, the aircraft wheels & brakes market is divided into OEM and aftermarket.
Key Players:
The key players in the global aircraft wheels & brakes market are Safran (France), Lufthansa Technik (Germany), Meggitt Aircraft Braking Systems (US), United Technologies (US), AAR (US), Honeywell International (US), PARKER HANNIFIN CORP (US), Beringer-aero (France), Crane Aerospace & Electronics (US), and Grove Aircraft Landing Gear Systems Inc. (US).
Segmentation:
The global aircraft wheels & brakes market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America had the largest share of the market in 2017, which was significantly due to the presence of the manufacturing base of largest commercial OEM, Boeing, and the increasing aircraft retrofit market in North America. Furthermore, the presence of the key companies such as Meggitt Aircraft Braking Systems, Honeywell International, and United Technologies in the region, results in a high development of the aircraft wheels and brakes. Similarly, Asia-Pacific is expected to be fastest growing market for the aircraft wheels & brakes market, during the forecast period. This is primarily due to the rapidly increasing aircraft deliveries in the region, particularly in China and India. Therefore, the global aircraft wheels & brakes market is estimated to register a CAGR of over 7% during the forecast period of 2018 to 2023.
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