The aircraft wheels market in North America is expected to grow from US$ 603.49 million in 2021 to US$ 906.17 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.
The demand for aircraft is rising across the world owing to the rapidly growing airline industry in the developing economies due to continuously increasing demand for passenger airline services. In addition, the aviation industry is undergoing expansion at a rapid pace, recording significant production volumes and deliveries of aircraft (commercial and military) fleets. Specifically, the commercial aviation industry has witnessed tremendous growth in the past few years with the emergence of new low-cost carriers (LCCs) and fleet expansion strategies adopted by the full-service carriers (FSCs). Further, commercial aviation is surging owing to the mounting number of air travel passengers and aircraft procurements. This surge in aircraft production boosts the demand for aircraft wheels. The production volumes of aircraft are continuously rising to bridge the gap between its demand and supply. For instance, Boeing and Airbus received new aircraft orders of 1,008 and 831 in 2018 and 2019, respectively and delivered 806 and 800 aircraft in the given respective years. However, in 2020, the number of aircraft orders and deliveries dipped due to the COVID-19 outbreak. On the other side, with the huge backlogs of aircraft delivery and with the fresh receiving orders, the North America Aircraft Wheels market is expected to pull back its growth in the post-pandemic era. Furthermore, the demand for line fit wheels is growing with the rising production of aircraft as the main landing gear system consists of multiple wheels. The detailed chart of required wheels for the respective aircraft model is given below in Table 1. Also, Table 2 highlights the count of orders and deliveries of Airbus and Boeing in 2018, 2019, and 2020 along with the total production of military aircraft in the given years.
The US is the worst-hit country in North America. The continuous growth of infected individuals has led the government to impose lockdown across the nation's borders during Q2 and Q3 of 2020. The majority of the manufacturing plants either were temporarily shut or operated with minimum staff; the aircraft OEMs and aircraft components and associated product manufacturers witnessed disruption in supply chain; these are some of the North American countries' critical issues. Since the US has a larger density of aircraft manufacturers and aircraft associated technology and component manufacturers, followed by Canada and Mexico. The outbreak of the virus has severely affected the production of each. The lower number of manufacturing staff has resulted in lesser production quantity. From the aircraft OEM’s perspective, Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key restraining factors for the aircraft line fit wheels market. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream, among others, also experienced tremors of COVID–19 on their orders and production lines. From the supply side, the region has higher numbers of aircraft wheels market players. The restricted workforce, disruption in the supply chain, and limited volumes of orders have sternly shaken the aircraft wheels market players in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America aircraft wheels market. The North America aircraft wheels market is expected to grow at a good CAGR during the forecast period.
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North America Aircraft Wheels Market Segmentation
North America Aircraft wheels Market – By Type
- Nose Wheel
- Main Wheel
North America Aircraft Wheels Market – By Aircraft Type
- Fixed Wing Aircraft
- Rotary Wing Aircraft
- UAV
North America Aircraft Wheels Market – By Fit Type
- Line Fit
- Retro Fit
North America Aircraft Wheels Market – By End-user
- Military
- Commercial
North America Aircraft Wheels Market – By Country
- US
- Canada
- Mexico
North America Aircraft wheels market – Companies Mentioned
- Collins Aerospace
- Meggitt PLC
- Honeywell International Inc.
- Parker Hannifin Corporation
- BERINGER AERO
- Lufthansa Technik
- Grove Aircraft Landing Gear System Inc
- MATCO Manufacturing Inc
- NMG Aerospace
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Aircraft wheels – market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Aircraft wheels market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Up-scaling volumes of aircraft orders and their deliveries
5.1.2 Surging adoption of lightweight alloy to manufacture aircraft wheels
5.2 Market Restraint
5.2.1 Raising life span of aircraft wheels
5.3 Market Opportunity
5.3.1 Advance application of carbon-fiber-reinforced plastic-based wheels for rotary wing aircraft
5.4 Future Trend
5.4.1 Growing use of CFRP composite in aircraft nose wheel manufacturing
5.5 Impact Analysis of Drivers and Restraints
6. North America Aircraft Wheels – Market Analysis
6.1 North America Aircraft Wheels market Overview
6.1.1 North America: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
7. North America Aircraft Wheels Market Analysis – By Type
7.1 Overview
7.1.1 North America: Aircraft Wheels Market, by Type
7.2 Nose Wheel
7.2.1 Overview
7.2.2 Nose Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
7.3 Main Wheel
7.3.1 Overview
7.3.2 Main Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8. North America Aircraft wheels Market Analysis – By Aircraft Type
8.1 Overview
8.1.1 North America: Aircraft Wheels Market, by Aircraft Type
8.2 Fixed Wing Aircraft
8.2.1 Overview
8.2.2 Fixed Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8.3 Rotary Wing Aircraft
8.3.1 Overview
8.3.2 Rotary Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
8.4 UAV
8.4.1 Overview
8.4.2 UAV: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
9. North America Aircraft wheels Market Analysis – By Fit Type
9.1 Overview
9.1.1 North America: Aircraft Wheels Market, by Fit Type
9.2 Line Fit
9.2.1 Overview
9.2.2 Line Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
9.3 Retro Fit
9.3.1 Overview
9.3.2 Retro Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
10. North America Aircraft wheels Market Analysis – By End-user
10.1 Overview
10.1.1 North America: Aircraft Wheels Market, by End-user
10.2 Military
10.2.1 Overview
10.2.2 Military: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
10.3 Commercial
10.3.1 Overview
10.3.2 Commercial: Aircraft Wheels Market Revenue and Forecast To 2028 (US$ Million)
11. North America Aircraft wheels Market – Country Analysis
11.1 North America
11.1.1 North America: Aircraft Wheels Market, by Key Country
11.1.1.1 US: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: Aircraft Wheels Market, by Type
11.1.1.1.2 US: Aircraft Wheels Market, by Aircraft Type
11.1.1.1.3 US: Aircraft Wheels Market, by Fit Type
11.1.1.1.4 US: Aircraft Wheels Market, by End-user
11.1.1.2 Canada: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: Aircraft Wheels Market, by Type
11.1.1.2.2 Canada: Aircraft Wheels Market, by Aircraft Type
11.1.1.2.3 Canada: Aircraft Wheels Market, by Fit Type
11.1.1.2.4 Canada: Aircraft Wheels Market, by End-user
11.1.1.3 Mexico: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: Aircraft Wheels Market, by Type
11.1.1.3.2 Mexico: Aircraft Wheels Market, by Aircraft Type
11.1.1.3.3 Mexico: Aircraft Wheels Market, by Fit Type
11.1.1.3.4 Mexico: Aircraft Wheels Market, by End-user
12. North America Aircraft wheels market – Covid-19 Impact Analysis
12.1 Overview
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. COMPANY PROFILES
14.1 Collins Aerospace
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Meggitt PLC
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Honeywell International Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Parker Hannifin Corporation
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 BERINGER AERO
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Lufthansa Technik
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Grove Aircraft Landing Gear System Inc
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 MATCO Manufacturing Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 NMG Aerospace
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. Aircraft Models and Required Number of Wheels
Table 2. Boeing and Airbus: Aircraft Order and Delivery Data, 2018, 2019, and 2020
Table 3. North America Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Aircraft wheels Market Revenue Share, by Key Country (2020 and 2028)
Table 5. US: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 7. US: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 8. US: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. Canada: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Aircraft Wheels Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Aircraft Wheels Market, by Aircraft Type–Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico: Aircraft Wheels Market, by Fit Type–Revenue and Forecast to 2028 (US$ Million)
Table 16. Mexico: Aircraft Wheels Market, by End-user–Revenue and Forecast to 2028 (US$ Million)
Table 17. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Aircraft Wheels Market Segmentation
Figure 2. North America Aircraft Wheels Market Segmentation – By Country
Figure 3. North America Aircraft Wheels Market Overview
Figure 4. North America Aircraft Wheels Market, by Type
Figure 5. North America Aircraft Wheels Market, by Aircraft Type
Figure 6. North America Aircraft Wheels Market, by Fit Type
Figure 7. North America Aircraft Wheels Market, by End-Users
Figure 8. North America Aircraft Wheels Market, by Country
Figure 9. Porter’s Five Forces Analysis
Figure 10. Aircraft Wheels market- Ecosystem Analysis
Figure 11. North America Aircraft wheels market Impact Analysis of Drivers and Restraints
Figure 12. North America: Aircraft wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America: Aircraft wheels Market Revenue Share, by Type (2020 and 2028)
Figure 14. Nose Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Main Wheel: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America: AIRCRAFT WHEELS MARKET REVENUE SHARE, BY AIRCRAFT TYPE (2020 AND 2028)
Figure 17. Fixed Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Rotary Wing Aircraft: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. UAV: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America: AIRCRAFT WHEELS TMARKET REVENUE SHARE, BY FIT TYPE (2020 AND 2028)
Figure 21. Line Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Retro Fit: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America: AIRCRAFT WHEELS MARKET REVENUE SHARE, BY END-USER (2020 AND 2028)
Figure 24. Military: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Commercial: Aircraft Wheels Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Geographic Overview of North America Aircraft wheels market
Figure 27. North America: Aircraft wheels Market Revenue Share, by Key Country (2020 and 2028)
Figure 28. US: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 29. Canada: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Aircraft Wheels Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North America Country Markets
- Collins Aerospace
- Meggitt PLC
- Honeywell International Inc.
- Parker Hannifin Corporation
- BERINGER AERO
- Lufthansa Technik
- Grove Aircraft Landing Gear System Inc
- MATCO Manufacturing Inc
- NMG Aerospace
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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