The aircraft wheels and brakes market in Europe is expected to grow from US$ 2,003.82 million in 2021 to US$ 3,431.28 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.
Surge in use of durable, lightweight, sturdy carbon brakes is bolstering the market growth in Europe. The aircraft manufacturing industry has been dependent on steel-based brakes for decades; however, in the recent years, the industry players have extensively shifted their focus toward carbon brakes. This is mainly attributed to the low weight and greater durability of carbon. The lighter weight of carbon brakes helps manufacturers in keeping the weight of aircraft models lower than those with traditional brakes; the lightweight aircraft fleets operate with greater fuel efficiency and lowered CO2 emissions. Aircraft weight and CO2 emissions are the two critical parameters of focus in the aircraft manufacturing industry. Moreover, carbon brakes facilitate cost-saving as the sturdier nature of carbon offers brakes additional strength along with an ability to operate in adverse environments. Further, carbon brakes require lesser maintenance as they can handle ~2,000 landings on average. Hence, carbon brakes are being used extensively in modern aircraft models to reduce overall operational costs, including brakes maintenance, repairing, and overhaul (MRO) costs. Carbon brakes are compatible with all modern commercial and military aircraft models, which makes them suitable for retrofitting. Thus, the escalating adoption of carbon brakes in commercial and military aircraft is fueling the aircraft wheels and brakes market growth.
The air transport sector plays an important role in economic growth and employment in many European countries. With the COVID-19 outbreak, the production and sales of aircraft wheels and brake came to a sudden halt in the most part of Europe. The collapse of demand side severely impacted the EU aerospace sector and reduced international trade, thereby putting the economies in deep crisis. The European aerospace industry began to witness airspace inefficiencies, activity delays, and declining flight counts with the initial spread of COVID-19. The global passenger volume contracted by 60.5%, and total cost of infrastructure declined by 45.4% in 2020, increasing unit costs. This reduced demand has severely impacted the regional aircraft wheels and brake market. The EU aerospace industry is anticipated to recover gradually due to a slower economic recovery and the importance of international services. As per the IATA estimates, Europe faced net loss of ~US$ 26.9 billion in 2020. In 2021, net losses are estimated to lower down to US$ 11.9 billion. However, the European aircraft manufacturing giant, Airbus, foresees faster recovery of the aviation industry and aircraft manufacturing. According to the company, the global and European aviation industry is expected to reach pre-COVID levels during 2023-2025. Owing to this, the company has been ramping up its production volumes to be capable of delivering a large number of orders. Airbus plans to produce 900 Airbus A320 family aircraft models per year by 2025, with 64 per month by 2023 and 75 units per month by 2025. The announcement of such strategies indicates a promising scenario for the growth of the manufacturers of aircraft components, including wheels and brakes.
The aircraft wheels and brakes market, by fit type, is segmented into line fit and retro fit. The retrofit segment led the market in 2020, with a larger market share. The market growth of this segment is attributed to the rising MRO services of existing aircraft fleets on a regular basis to protect wheels and brakes from corrosion. For instance, the majority of large commercial aircraft fleet requires the overhauling of wheels after every five tire changes. Lufthansa Technik, an aircraft MRO company, retrofits ~20,000 wheels on yearly basis at Frankfurt Airport; similarly, carbon brakes are overhauled on every 2,000 landings. Further, heavy commercial aircraft tires retrofit with new tires on every 120-400 landings, depending on the factors such as the total weight of aircraft, materials used in brakes and other components, and total capacity of aircraft. The abovementioned factors are subsequently providing significant growth prospects for the aircraft wheels and brakes market for the retrofit segment.
The overall Europe aircraft wheels and brakes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe aircraft wheels and brakes market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe aircraft wheels and brakes market. BERINGER AERO, Collins Aerospace, Crane Aerospace & Electronics, Honeywell International Inc., Meggitt PLC, Parker Hannifin Corporation, and Safran are among a few players operating in the Europe aircraft wheels and brakes market.
TABLE OF CONTENTS
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. Europe Aircraft Wheels and Brakes Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
5. Europe Aircraft Wheels and Brakes - Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Use of Durable, Lightweight, Sturdy Carbon Brakes
5.1.2 Escalating Demand for Passenger Airline Services
5.2 Market Restraints
5.2.1 Recall of B737 Max and Discontinuation of A380 and B747 Manufacturing
5.3 Market Opportunities
5.3.1 Burgeoning Demand for MRO Activities in Emerging Economies
5.4 Future Trends
5.4.1 Electric Brakes and Fiber-Reinforced Plastic Wheels
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Wheels and Brakes Market - Europe Market Analysis
6.1 Europe Aircraft Wheels and Brakes Market Overview
6.2 Europe Aircraft Wheels and Brakes Market Revenue Forecast and Analysis
7. Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 - Component
7.1 Overview
7.2 Europe Aircraft Wheels and Brakes Market, By Component (2020 & 2028)
7.3 Braking Systems
7.3.1 Overview
7.3.2 Braking System: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
7.4 Wheels
7.4.1 Overview
7.4.2 Wheels: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
7.5 Brakes
7.5.1 Overview
7.5.2 Brakes: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
8. Europe Aircraft Wheels and Brakes Market Analysis and Forecast to 2028 - Fit Type
8.1 Overview
8.2 Europe Aircraft Wheels and Brakes Market, By Fit Type (2020 & 2028)
8.3 Line Fit
8.3.1 Overview
8.3.2 Line Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
8.4 Retro Fit
8.4.1 Overview
8.4.2 Retro Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Aircraft Wheels and Brakes Market Analysis and Forecast to 2028 - End User
9.1 Overview
9.2 Europe Aircraft Wheels and Brakes Market, By End User (2020 & 2028)
9.3 Defense
9.3.1 Overview
9.3.2 Defense: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Aircraft Wheels and Brakes Market - Country Analysis
10.1 Europe: Aircraft Wheels and Brakes Market
10.1.1 Europe: Aircraft Wheels and Brakes Market, by Key Country
10.1.2 France: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1 France: Aircraft Wheels and Brakes Market, by Component
10.1.2.2 France: Aircraft Wheels and Brakes Market, by Fit Type
10.1.2.3 France: Aircraft Wheels and Brakes Market, by End User
10.1.3 Germany: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.3.1 Germany: Aircraft Wheels and Brakes Market, by Component
10.1.3.2 Germany: Aircraft Wheels and Brakes Market, by Fit Type
10.1.3.3 Germany: Aircraft Wheels and Brakes Market, by End User
10.1.4 Italy: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.4.1 Italy: Aircraft Wheels and Brakes Market, by Component
10.1.4.2 Italy: Aircraft Wheels and Brakes Market, by Fit Type
10.1.4.3 Italy: Aircraft Wheels and Brakes Market, by End User
10.1.5 UK: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.5.1 UK: Aircraft Wheels and Brakes Market, by Component
10.1.5.2 UK: Aircraft Wheels and Brakes Market, by Fit Type
10.1.5.3 UK: Aircraft Wheels and Brakes Market, by End User
10.1.6 Russia: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.6.1 Russia: Aircraft Wheels and Brakes Market, by Component
10.1.6.2 Russia: Aircraft Wheels and Brakes Market, by Fit Type
10.1.6.3 Russia: Aircraft Wheels and Brakes Market, by End User
10.1.7 Rest of Europe: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
10.1.7.1 Rest of Europe: Aircraft Wheels and Brakes Market, by Component
10.1.7.2 Rest of Europe: Aircraft Wheels and Brakes Market, by Fit Type
10.1.7.3 Rest of Europe: Aircraft Wheels and Brakes Market, by End User
11. Europe Aircraft Wheels and Brakes Market - COVID-19 Impact Analysis
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 BERINGER AERO
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Collins Aerospace
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Meggitt PLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Parker Hannifin Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Safran
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Crane Aerospace & Electronics
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Aircraft Wheels and Brakes Market, by Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 4. France: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. France: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 7. Germany: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 8. Germany: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 13. UK: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe: Aircraft Wheels and Brakes Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe: Aircraft Wheels and Brakes Market, by Fit Type - Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe: Aircraft Wheels and Brakes Market, by End User - Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Aircraft Wheels and Brakes Market Segmentation
Figure 2. Europe Aircraft Wheels and Brakes Market Segmentation - By Country
Figure 3. Europe Aircraft Wheels and Brakes Market Overview
Figure 4. Europe Aircraft Wheels and Brakes Market, by Component
Figure 5. Europe Aircraft Wheels and Brakes Market, by Fit Type
Figure 6. Europe Aircraft Wheels and Brakes Market, By Country
Figure 7. Europe Aircraft Wheels and Brakes Market - Porter's Five Forces Analysis
Figure 8. Europe Aircraft Wheels and Brakes Market: Ecosystem Analysis
Figure 9. Europe Aircraft Wheels and Brakes Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Aircraft Wheels and Brakes Market Revenue Forecast and Analysis (US$ Million)
Figure 11. Europe Aircraft Wheels and Brakes Market, by Component (2020 & 2028)
Figure 12. Braking System: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Wheels: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Brakes: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Aircraft Wheels and Brakes Market, By Fit Type (2020 & 2028)
Figure 16. Line Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Retro Fit: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Aircraft Wheels and Brakes Market, By End User (2020 & 2028)
Figure 19. Defense: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Commercial: Europe Aircraft Wheels and Brakes Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe: Aircraft Wheels and Brakes Market - Revenue by Country to 2028 (US$ Million)
Figure 22. Europe: Aircraft Wheels and Brakes Market Revenue Share, by Key Country (2020 & 2028)
Figure 23. France: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Germany: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Italy: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. UK: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe: Aircraft Wheels and Brakes Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in Europe Country Markets
The List of Companies - Europe Aircraft Wheels and Brakes Market
- BERINGER AERO
- Collins Aerospace
- Crane Aerospace & Electronics
- Honeywell International Inc.
- Meggitt PLC
- Parker Hannifin Corporation
- Safran
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