The aircraft wheels MRO market size is projected to reach US$ 1.29 billion by 2031 from US$ 0.67 billion in 2023. The market is expected to register a CAGR of 8.5% during 2023–2031. The rising adoption of fiber-reinforced plastic wheels is likely to remain a key trend in the market.
The aerospace and defense industry across the globe encompass several numbers of well-established aircraft manufacturers accounting substantially large market share in the respective aircraft market. Since there is availability of large number of aircraft wheels MRO service providers in the market, small as well as well-established aircraft operators have a substantial bargaining power to avail aircraft wheels MRO service with high-quality at a competitive price. As a result, the bargaining power of buyers in the aircraft wheels MRO market is high due to their functional requirement and presence of substantial number of service providers.
The aircraft wheels MRO market ecosystem comprises of following stakeholders- aircraft wheels manufacture, aircraft wheels MRO companies, and end-users. The aircraft wheels manufacturers procure raw materials and components such as steel, aluminum, and magnesium alloy and components such as nuts and bolts among others and manufactures aircraft wheels. Further, aircraft wheels MRO companies procures aircraft wheels from aircraft wheels manufacturers. These aircraft wheels MRO companies are the key market players and holds a significant amount of share of the market. Few of the prominent players who are operating in the market are AAR Corp, Aerorepair Corp, AMETEK Inc, Lufthansa Technik, TP Aerospace, among others. End-users such as airline companies, armed forces, general aviation companies, and others are the final stakeholder of this ecosystem chain and they retrofit aircraft wheels from aircraft wheels MRO companies.
The rising commercial aircraft deliveries across different regions is driving the growth of wheels MRO market. The production of commercial aircraft in large numbers is generating the demand for installation of new wheels across different regions. For instance, Airbus delivered around 735 aircraft in 2023 and witnessed an 11% hike compared to the 2022 deliveries. Moreover, the rise in global commercial aircraft fleet is further driving the growth for wheels MRO worldwide. For instance, according to The Insight Partners’ secondary research the global commercial aircraft fleet in 2023 stood at 27,385 aircraft that further reached to 28,398 aircaft in 2024. In addition, this fleet is likely to reach en estimated figure of around 36,413 aircraft by the end of 2034. This is further likely to drive the wheels MRO market in the coming years worldwide.
With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies, such as those in APAC, are highly focused on extending MRO services to commercial as well as military aircrafts. Economic growth, increasing air passengers, and growing aviation infrastructure spending in APAC countries are the major factors driving the growth of the aircraft MRO services, which is subsequently providing lucrative opportunities for the growth of the aircraft wheels MRO market. Moreover, accordinto The Insight Partner’s Analysis, the global aircraft MRO industry is likely to surpass US$ 140 billion by the end of 2034 which is further likely to generate new demand for aircraft wheels MRO in the coming years.
Key segments that contributed to the derivation of the aircraft wheels MRO market analysis are wheel type, aircraft type, and technology.
The geographic scope of the aircraft wheels MRO market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific has dominated the market in 2023 followed by North America and Europe regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. China dominated the Asia Pacific aircraft wheels MRO market in 2023. The demand for wheels MRO market in China is mainly driven by the demand generated from MRO operations for the large number of fleet. For instance, in 2023, the commercial aircraft fleet across China stood at 3,821 which is further likely to reach around 6,321 aircraft by 2033. Moreover, according to the Airbus forecasts, more than 9,000 aircraft are likely to be delivered across China during 2023 to 2042. Such factors are likely to boost the fleet size across the country which is further expected to generate new opportunities for wheels MRO across the country in the coming years.
The regional trends and factors influencing the Aircraft Wheels MRO Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Wheels MRO Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 0.67 Billion |
| Market Size by 2031 | US$ 1.29 Billion |
| Global CAGR (2023 - 2031) | 8.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Wheel Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aircraft Wheels MRO Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aircraft Wheels MRO Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The aircraft wheels MRO market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the aircraft wheels MRO market are listed below:
The “Aircraft Wheels MRO Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The aircraft wheels MRO market is likely to register of 8.5% during 2023-2031.
The estimated value of the aircraft wheels MRO market by 2031 would be around US$ 1.29 billion.
The rising adoption of fiber-reinforced plastic wheels is one of the major trends of the market.
AAR Corp, Aerorepair Corp, Aerospace MRO Co Ltd, Air Atlanta Aviaservices, AMETEK Inc, Lufthansa Technik, Röder Präzision GmbH, Technic Aviation, TP Aerospace, and World Aero are some of the key players profiled under the report.
Increasing global commercial aircraft fleet and the growing aircraft MRO industry are some of the factors driving the growth for aircraft wheels MRO market.
Asia Pacific region dominated the aircraft wheels MRO market in 2023.