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Aircraft Wheels Market size was valued at USD 1704.25 million in 2021 and is poised to grow from USD 1823.56 million in 2022 to USD 3103.56 million by 2030, growing at a CAGR of 7.2% in the forecast period (2023-2030).

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. 'Safran Landing Systems', 'Honeywell International Inc.', 'Collins Aerospace (UTC)', 'Magellan Aerospace Corporation', 'Meggitt PLC', 'Beringer Aero', 'GKN Aerospace', 'Parker Hannifin Corporation', 'Dunlop Aircraft Tyres Ltd.', 'Michelin Aircraft Tyre', 'Goodyear Tire & Rubber Co.', 'Aircraft Spruce and Specialty Co.', 'Dart Aerospace', 'B/E Aerospace, Inc.', 'Hutchinson Aerospace & Industry', 'Rosen Aviation', 'UTC Aerospace Systems', 'Grove Aircraft Landing Gear Systems Inc.', 'Desser Tire & Rubber Co. LLC', 'General Aviation Modifications Inc'

There has been a rapid growth in tourism and travel across the globe. Travel and tourism contributed around 5.81 trillion U.S. dollars in 2021 to the Global GDP. Governments and Organisations are taking initiatives to propel tourism. The rapid growth in tourism has paved the way for various Aircraft manufacturing firms and the airline industry. Additionally rising expenditures in Military aviation drive the need for quality manufacturers thereby increasing the demand for Aircraft wheels.

Commercial aviation segment is witnessing rapid growth. Increased travel and tourism across nations is enticing airlines and manufacturers to collaborate and leverage ways to meet rising demand of aircrafts. The Covid 19 became a reason for slow down, but the Market reinvigorated rapidly and is poisoning ways for various expenditure in aircrafts. Along with this the expenditure in military aviation is also becoming a trending factor to elevate the Market growth or Aircraft wheels in the forecasted period.

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.

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Global Aircraft Wheels Market

Product ID: SQMIG20A2035