The market of aircraft wheels & brakes is in healthy growth with growing importance in terms of safety, efficiency, and technology within the aerodynamics industry. This market signifies the manufacturing, research, and MRO services of wheels, brakes, and other items that are integral parts of aircraft safety and performance. The Aircraft Wheels & Brakes Market is estimated to grow from US$ 8.22 billion in 2023 to US$ 15.40 billion by 2031, at a CAGR of 8.2% during 2023-2031, driven by demand for more durable, reliable, and high-performance components in airplanes.
Market Overview
Wheels and brakes are a critical part of the operation of aircraft for safety and performance. They are also capable of enduring extreme pressure, temperature, and wear, and bear the great forces that come along with takeoff, landing, and taxiing. With global air travel improving and growing after the pandemic, wheel and brake technologies are also being used more as a result of the rising aviation industry and the replacement of older airplanes.
Key Aircraft Wheels & Brakes Market Drivers
- Commercial Aviation: Demand for passenger traffic and air cargo volumes are driving the commercial aviation market and hence the demand for quality wheels and brakes is rising.
- Military and Defense Investment: Military aircraft require a specific and advanced braking system, which drives market development in the defense industry.
- More Focus on Safety: As safety authorities across the world raise the bar, airlines are investing more money and energy into their airplane’s wheels and brakes.
- Technical Innovations: Carbon composite brakes are lighter and stronger alternatives, which make the overall aircraft lighter and lighter in terms of weight and fuel consumption.
Aircraft Wheels & Brakes Market Segmentation
By Product Type
- Carbon Brakes: Carbon brakes are durable, light, and heat-tolerant; hence they are used in commercial and military aircraft.
- Steel Brakes: Steel brakes are cheaper than carbon, but heavier and therefore more fuel inefficient.
- Wheels: In new aircraft as well as aftermarket parts, high-quality, rugged wheels are on the rise.
By Application
- Commercial Aviation: This is the largest segment that has the highest market share, due to the increasing number of passengers and new orders.
- Military Aircraft: Military airplanes demand heavy-duty and durable wheels and brakes, especially for high-temperature operational environments.
- General Aviation: The smaller aircraft too need dependable wheels and brakes but are a minority of the market.
Regional Insights
- North America: North America dominates the Aircraft Wheels & Brakes Market with a lot of traffic, prominent aerospace companies, and major defense spending.
- Europe: The Europeans are close by with strong aviation and carbon reduction initiatives.
- Asia-Pacific: The largest growth rate will be witnessed in Asia-Pacific as air traffic, new airports, and rising military spending are the reasons for this.
Aircraft Wheels & Brakes Market Challenges and Opportunities
Challenges
- High Production Costs: The price of premium materials such as carbon composites can sting small airlines — reducing their adoption of high-end wheels and brakes.
- Safety and Environmental Regulations: The tighter the aviation laws are, the more expensive the R&D that’s required by manufacturers.
Opportunities
- Low-Emissions Brakes: The lighter, fuel-efficient brakes lower emissions which can be a market for sustainability aviation solutions.
- Growth in Aftermarket Services: Aircraft Wheels & Brakes Market as more and more airlines wish to prolong the life of their fleets, aftermarket services such as wheels
Competitive Landscape
Major players operating in the Aircraft Wheels & Brakes Market are Safran S.A., Honeywell International Inc., Collins Aerospace, and Meggitt PLC. These firms are in the business of R&D and new product development to fulfill the demand for solid and long-lasting aircraft components. Especially carbon composite brakes are a hot topic because manufacturers are looking to create lighter and more effective versions.
Future Outlook
The Aircraft Wheels & Brakes Market is anticipated to grow at a steady pace driven by advancements in braking technology, rising air travel, and security and sustainability. The market will only continue to develop as manufacturers innovate to provide stronger, more productive, and environmentally sound parts. Market growth can be anticipated at 8.2% between 2023-2031 and will continue to be a key contributor to the entire aviation landscape across commercial as well as military markets.
Conclusion
Aircraft Wheels & Brakes Market contributes to the effective and reliable functioning of the aviation sector to meet commercial and military demands. As the market grows from US$ 8.22 billion in 2023 to US$ 15.40 billion by 2031, material science ranging from carbon composites to the development of sustainable aviation will determine this sector’s future with safety, efficiency, and sustainability.
FAQs
How Much Does Market Value?It’s a market for parts to keep planes flying safely and smoothly, from wheels to brakes.
Why this market is so competitive?The market is driven by rising commercial and military aviation, security measures, and technology.
How large is the market in 2023?The value of the market is US$ 8.22 billion in 2023.
How large will be the market in 2031?The industry will reach US$ 15.40 billion by 2031.
What is the CAGR for 2023–2031?It will expand at a CAGR of 8.2%.
What are some of the brakes used in aircraft?It’s standard to use carbon and steel brakes, and carbon is superior to steel.
So what are the main use cases of aircraft wheels and brakes?Commercial, military, and general aviation use cases.
Who are the biggest vendors in this industry?Safran S.A., Honeywell, Collins Aerospace, and Meggitt PLC.
Why are carbon brakes popular?They’re lighter, stronger, and heat resistant.
The global commercial aircraft landing gear industry is expected to reach USD 9.63 billion by 2025, according to a new report by Grand View Research, Inc.
Airlines are increasingly making efforts to expand their fleet size to address the growing demand for air travel effectively.
The growth in fleet size is anticipated to drive the global commercial aircraft landing gear market over the forecast period.The replacement of aging landing gear components in existing aircraft fleet by advanced systems is expected to impact the growth positively.
The surging demand for retrofitting of landing gear systems/components is mainly driven by an increase in airline traffic, which requires frequent upgrading of such systems.
Aircraft manufacturers across the globe are investing heavily towards the adoption of new efficient systems in modern aircraft to avoid service failure and accidents, as well as increase the overall longevity.A new class of systems is being developed, which is adaptive to various landing situations.
The use of controllable fluid devices, such as Magnetorheological (MR) and Electrorheological (ER) shock absorbers, are some of the new technologies used for innovative landing gears’ development.
Market OverviewMarket Research Future (MRFR), in its latest report on the global automotive regenerative braking system market 2020 states that different factors that can boost the expansion of the market.
The high utility of automotive regenerative braking system for energy recovery mechanism in which it convert the produced heat from friction in the brakes of the vehicle into electrical energy can prompt the expansion of the market.The increased input by high-voltage batteries, followed by high demand per vehicle can bolster the expansion of the market in the years to come.
The feasibility of heat transfer to power consuming system or batteries can from brakes can promote the rise of the world automotive regenerative braking system market.
They are; ZF Friedrichshafen AG (Germany), Robert Bosch GMBH (Germany), Denso Corporation (Japan), Delphi Automotive PLC (US), Hyundai Mobis (South Korea), ADVICS North America, Inc. (US), Mazda Motor (Japan), Continental AG (Germany), TRW automotive (US, Autoliv Nissin Brake Systems Co., Ltd. (Japan), Faurecia SA (France), are among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6919 Segmental Analysis The segment study of the automotive regenerative braking system market based on system type, vehicle type, and electrical vehicle.
In addition, the high sales of electric cars, plus the reduction in brake wear and tear can prompt the expansion of the automotive regenerative braking system.
Major restraints on the market are increased overall costing and high maintenance price along with brake system overhauling.
