Aircraft Wheels Market Size Worth to US$ 2,769.54 Million, at a growing CAGR of 7.2% by 2028

The aircraft wheels market is expected to grow from US$ 1,704.25 million in 2021 to US$ 2,769.54 million by 2028; it is estimated to grow at a CAGR of 7.2% during 2021-2028.

Aircraft Wheels Market report by "The Insight Partners" sheds light on the key drivers and opportunities attributing to market expansion over the analysis period. It also gives in-depth information pertaining to the challenges and threats poised to hinder revenue generation in the forthcoming years. Additionally, the report also provides crucial information regarding leading companies in this business sphere and the trends that are likely to prevail in the near future. The document entails a detailed rundown of the impact of the key factors on the development and growth of the of the business sphere over the forecast timeframe. Promising opportunities in the Aircraft Wheels Market have also been mentioned in the study.

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Companies Profiled in Aircraft Wheels Market report includes: 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, Zlin Aircraft a.s.,..

The aircraft wheels market is segmented based on type, aircraft type, fit type, and end user. Based on type, the market is bifurcated into main wheel and nose wheel. In terms of aircraft type, the aircraft wheels market is segmented into fixed wing aircraft, rotary wing aircraft, and unmanned aerial vehicle (UAV). Based on fit type, the market is bifurcated into line fit and retrofit. Further, in terms of end user, the market is bifurcated into commercial and military. The commercial segment is expected to hold a significant market share during the forecast period. Geographically, the global aircraft wheels market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

There is an increase in orders for new commercial aircraft across the world. For instance, Delta Airlines placed an order of 95 A220 aircraft, out of which 12 A220 aircraft were supplied in May 2020, and the rest are scheduled to be delivered by the end of 2023. United Airlines is focusing on replacing some of its aging Boeing 767s and 757s with new-generation aircraft, such as Boeing 787 or long-range A321LR. Also, Frontier Airlines has ~175 A320 family aircraft on orders. Therefore, the increasing orders for new aircraft are positively favoring the aircraft wheels' business across the world and subsequently propelling the growth of the aircraft wheels market. However, the COVID-19 pandemic severely affected the market due to the shutdown of the global economy and subsequently lowered the productivity of aircraft manufacturing plants in the first two quarters of 2020. Continuous growth in the number of COVID-19 confirmed patients compelled governments and other authorities to impose complete or partial restrictions on cargo transportation, which has disrupted the supply chains of raw material for aircraft wheels. These conditions hindered the overall business of aircraft wheels market players.

Aircraft Wheels Market research report provides an in depth examination of the key factors stimulating market expansion. It also sheds light on the challenges or restraining factors that are poised to hinder industry growth over the forecast timeframe. Growth rate, market share captured, and valuation estimates for each region, segment, and company are documented as well.

Furthermore, the Aircraft Wheels Market is segmented based on type, application, and region in order to study it exhaustively and provide the data in a systematic manner. Speaking of competitive landscape, the study includes a list of leading companies along with their product and service offerings, strategic decisions, SWOT analysis, latest developments, market share captured, growth rate, and valuation. The challenges faced by these companies are analyzed and solutions for them are given as well.

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Impact of COVID-19 Pandemic on Aircraft Wheels Market:
The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. Until the outbreak, the aerospace industry was experiencing substantial growth in terms of production. Despite huge backlogs from aircraft manufacturers, the global aviation industry witnessed a significant rise in the number of passengers count and an increase in aircraft procurement before the pandemic.Unfortunately, the COVID-19 outbreak has decimated the demand for aircraft globally, which reflected significantly lower volumes of orders among aircraft manufacturers and resulted in a lower number of productions. The decline in production volumes adversely affected the businesses of various component manufacturers and associated technologies. Thus, the aircraft wheels market players' businesses have been severely affected by destabilization in aircraft production.

Essential points covered in Aircraft Wheels Market report are:-
1 What will the Aircraft Wheels Market size and the growth rate be in 2028?
2 What are the key growth stimulants of Aircraft Wheels Market?
3 What are the key market trends impacting Aircraft Wheels Market valuation?
4 What are the challenges to market proliferation?
5 Who are the key vendors in the Aircraft Wheels Market?
6 Which are the leading companies contributing to Aircraft Wheels valuation?
7 What was the market share held by each region in 2021?
8 What is the estimated growth rate and valuation of Aircraft Wheels in 2028?

The report also puts forward the current and future market scenario derived after a thorough analysis of the markets across five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. PEST analysis for each region is incorporated as well.

Moreover, key companies contributing to Aircraft Wheels Market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

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Reason to Buy:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Aircraft Wheels Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Aircraft Wheels Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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