USD 1.25 Billion
Report ID: SQMIG20A2035 | Region: Global | Published Date: June, 2022 | Pages: 262 | Tables: 88 | Figures: 66
Aircraft Wheel Market is valued at USD 1.25 Billion in 2021, and it is anticipated to attain a value of USD 4.35 Billion by 2030, at a CAGR of 14.75 % over the estimation period (2022 - 2030).
There has been a rising number of aircraft orders in the past few years. This is attributed to increasing commercial aviation. The increasing number of air travel and air traffic has paved growing opportunities for several small to large scale aircraft and aircraft parts manufacturing houses. Additionally, the need to strengthen the defense and military aviation is leveling the way for higher prospects in military aviation. Aircraft wheels are crucial for aircraft landing and take-off. Wheels bear the weight of aircraft and are the reason for safe landing and take-off. Airlines and Big industry players are looking forward to spending on quality and efficient components for aircraft build-up. With increasing air passenger traffic and the high need for aircraft, the prospects for the Aircraft wheel Market are expected to transcend at a high rate in the forecasted period.
Global Market Size
USD 1.25 Billion
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The Global Aircraft Wheel Market is segmented based on Construction Type, Application, End-User, and Region. Based on Type it is categorized into Bias and Radial. Based on Application it is categorized into Commercial Aviation, and Military Aviation. Based on End-user it is categorized into Aftermarkets and OEMs. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Construction Type
Based on the Construction Type Aircrafts Wheels Market is segmented into two types of Bias and Radial. Radial Wheels Market share is expected to be high in the estimated year. The rising demands owe attention given to the improved landing cycle of aircraft. Radial Wheels are lighter and oriented perpendicularly in the direction of rotation which makes them suitable for landing.
Analysis by Application
Based on the Application Aircrafts Wheels Market is segmented into two types of Commercial Aviation, Military Aviation, and Ros. Commercial Aviation Market share is expected to be high in the estimated year. Due to increased travel and tourism, there has been rapid emergence of big to small aircraft manufacturers and airlines. Emerging economies have paved the way for travel and tourism and hence increase in commercial aviation.
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North America is estimated to have the largest Market share in the projected period. The growth in the Market share owes to the presence of established aviation industries in the region. Rising technological advancements to improve the quality of air travel is contributing to the growth of manufacturing firms.
Additionally, Europe is also poised to showcase high Market share and is expected to generate high revenues in the estimated Markets. This again owes to increased needs for air travel and improved aircraft manufacturing facilities.
Asia Pacific region is accounted to have great potential for the Aircraft Wheel Market due to emerging advancements and facilities in airlines, travel and tourism and establishment of several manufacturing firms in India, China, Japan Aircraft and Aircraft parts manufacturing industry like Mitsubishi, Jaxa contributors of huge share.
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The Global Aircraft Wheel Market is concentrated, with a few big and small-sized Market participants. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements, and contracts ensuring the development and enhancement of quality to maintain a competitive edge in the market.
Top Global Aircraft Wheels Market Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, current initiatives to build Aircraft that could meet the rising demand of travel and tourism needs along with maintaining the quality standards are paving huge prospects for the Aircraft wheel Market. Rising commercial aviation along with decent expenditure in Military aviation is compelling competitors to indulge in strategic collaboration and developments to cater to the needs of the Market.
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|Market size value in 2021||USD 1.25 Billion|
|Market size value in 2030||USD 4.35 Billion|
|Forecast period||2022 - 2030|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Aircraft Wheels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aircraft Wheels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aircraft Wheels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQMIG20A2035