Global Powered Wheels For Aircraft Landing Market - 2023-2030
Global powered wheels for aircraft landing market reached US$ 4.2 billion in 2022 and is expected to reach US$ 7.9 bllion by 2030, growing with a CAGR of 8.3% during the forecast period 2023-2030.
The need for new aircraft has increased due to the increase in international air travel, which has been spurred by factors including population growth, rising disposable incomes, and rising tourism. The market for powered wheels is driven by the rising number of aircraft deliveries and the demand for contemporary landing gear systems.
Chinese companies are slowly establishing the role of major suppliers in the international aircraft sector, providing a range of parts, including powered wheels and landing gear systems. These companies are enhancing their manufacturing capabilities, increasing their production capacities, and forming alliances with major international aerospace players. China's participation in the worldwide powered wheels market is strengthened by its position as a supplier on a global scale. Therefore, China accounts for nearly half of the regional share.
Market Dynamics
Technological Advancements
The efficiency and durability of powered wheels are increasing because to developments in tyre technology. Innovative tyre designs are being created by manufacturers that provide enhanced traction, durability, rolling resistance, and wear and tear resistance. These tyre advancements improve the overall efficiency of the landing gear systems, increase fuel economy, and lower airline maintenance expenses.
More and more motorized wheels come equipped with braking devices. This integration reduces the need for separate brake assemblies and enhances the braking system's overall functioning and responsiveness. During landing and taxiing operations, integrated brake systems offer more accurate control, increase safety, and need less maintenance. Advanced braking technologies are being incorporated by manufacturers into powered wheels to improve aircraft performance and support market expansion.
Industry Collaboration and Partnerships
Partnerships allow for the pooling of expertise, resources, and technologies to spur innovation, enhance performance, and satisfy the changing needs of the market. Together, these businesses can improve technology, reach a wider audience, and provide global aviation landing industry-powered wheels that are more advanced and effective.
For instance, UTC Aerospace Systems, which is now a part of Collins Aerospace, has worked with Airbus on a number of projects involving landing gear, including the creation of cutting-edge powered wheels. The partnership's main goal is to improve performance, weight reduction, and efficiency by incorporating modern technologies into landing gear systems.
High Initial Costs
Pricing pressure may result from the powered wheels market's intense competition. Manufacturers must strike a balance between the need to recuperate their significant investments and competitive pricing for their products. Customers may also bargain prices to fit inside their budgetary restrictions or look for cost-effective solutions. This pricing pressure may have an effect on profit margins and slow market expansion.
COVID-19 Impact Analysis
The pandemic's effects on the market for propelled wheels are temporary. The demand for new aircraft, MRO activities, and fleet modernization is anticipated to increase as the aviation industry bounce back and air travel gradually restarts. The aviation sector is receiving recovery support from governments and industry partners, which will aid in the market's steady revival.
Segment Analysis
The global powered wheels for aircraft landing market is segmented based on wheel, component, aircraft and region.
Long-Term Durability and Maintenance Drives the Segmental Growth
In comparison to nose or tail wheels, main wheels experience more tension and wear. They are subjected to more wear and tear during ground operations and higher impact forces during landing. Because of this, major wheels often need maintenance and replacement more frequently, which helps to sustain market demand. Therefore, main wheels segment is expected to grow at a highest CAGR during the forecasted period.
Geographical Analysis
Presence of Leading Aircraft Manufacturers Drives Growth of U.S. Market
Major aircraft producers like Boeing and Lockheed Martin are based in U.S. These companies manufacture a wide range of commercial and military aircraft, including those that need innovative landing gear systems with powered wheels. The demand for powered wheels from American aircraft producers helps the North American market expansion. Therefore, U.S. is contributing more than 3/4th of the global shares.
Competitive Landscape
The major global players include United Technologies Corporation (UTC) Aerospace Systems, Safran Group, Boeing Company, Airbus Group, Bombardier Aerospace, General Electric Aviation, Spirit AeroSystems Holdings Inc., GKN Aerospace, FACC AG and RUAG Aerostructures.
Why Purchase the Report?
• To visualize the global powered wheels for aircraft landing market segmentation based on wheel, component, aircraft and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of powered wheels for aircraft landing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global powered wheels for aircraft landing market report would provide approximately 61 tables, 56 figures and 183 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Wheels
- 3.2. Snippet by Component
- 3.3. Snippet by Aircraft
- 3.4. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Technological Advancements
- 4.1.1.2. Industry Collaboration and Partnerships
- 4.1.2. Restraints
- 4.1.2.1. High Initial Costs
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Wheels
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 7.1.2. Market Attractiveness Index, By Wheels
- 7.2. Main Wheels*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Nose Wheels or Tail Wheels
- 8. By Component
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 8.1.2. Market Attractiveness Index, By Component
- 8.2. Bearings*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Axles
- 8.4. Brake Systems
- 8.5. Others
- 9. By Aircraft
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 9.1.2. Market Attractiveness Index, By Aircraft
- 9.2. Commercial*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Military
- 9.4. Others
- 10. By Region
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2. Market Attractiveness Index, By Region
- 10.2. North America
- 10.2.1. Introduction
- 10.2.2. Key Region-Specific Dynamics
- 10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.2.6.1. U.S.
- 10.2.6.2. Canada
- 10.2.6.3. Mexico
- 10.3. Europe
- 10.3.1. Introduction
- 10.3.2. Key Region-Specific Dynamics
- 10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.3.6.1. Germany
- 10.3.6.2. UK
- 10.3.6.3. France
- 10.3.6.4. Italy
- 10.3.6.5. Russia
- 10.3.6.6. Rest of Europe
- 10.4. South America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.4.6.1. Brazil
- 10.4.6.2. Argentina
- 10.4.6.3. Rest of South America
- 10.5. Asia-Pacific
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.5.6.1. China
- 10.5.6.2. India
- 10.5.6.3. Japan
- 10.5.6.4. Australia
- 10.5.6.5. Rest of Asia-Pacific
- 10.6. Middle East and Africa
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Wheels
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Aircraft
- 11. Competitive Landscape
- 11.1. Competitive Scenario
- 11.2. Market Positioning/Share Analysis
- 11.3. Mergers and Acquisitions Analysis
- 12. Company Profiles
- 12.1. United Technologies Corporation (UTC) Aerospace Systems*
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Financial Overview
- 12.1.4. Recent Developments
- 12.2. Safran Group
- 12.3. Boeing Company
- 12.4. Airbus Group
- 12.5. Bombardier Aerospace
- 12.6. General Electric Aviation
- 12.7. Spirit AeroSystems Holdings Inc.
- 12.8. GKN Aerospace
- 12.9. FACC AG
- 12.10. RUAG Aerostructures
- LIST NOT EXHAUSTIVE
- 13. Appendix
- 13.1. About Us and Services
- 13.2. Contact Us
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