Report : North America Aircraft Wheels MRO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Wheel Type (Nose Wheel and Main Wheel), Aircraft Type (Narrowbody Aircraft, Widebody Aircraft, General Aviation Aircraft, Military Aircraft, and Helicopter), and Technology (Inspection, Non-destructive Testing, Machining, and Others)
Main Wheel Segment to Dominate North America Aircraft Wheels MRO Market During 2021–2028
According to a new market research study on “North America Aircraft Wheels MRO Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Wheel Type, Aircraft Type, and Technology” is expected to reach US$ 327.39 million by 2028 from US$ 226.72 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the North America aircraft wheels MRO market along with the drivers and restraints pertaining to the market growth. Growing MRO activities in several economies and rising demand of passenger airline services are the major factor driving the growth of the North America aircraft wheels MRO market. However, issues related to evolving specifications of aircraft wheels hinder the growth of North America aircraft wheels MRO market.
The continuous growth of COVID-19 infected individuals led the government to impose lockdown across the North American countries in 2020. Most of the manufacturing plants were temporarily shut or operating with minimum staff; the supply chain of components and parts was disrupted. Since the US has a larger density of aircraft OEMs, component manufacturers, and airports, the outbreak severely affected production and revenue generation. The lower number of manufacturing staff resulted in lesser production quantity. On the other hand, the suspension of air travel resulted in a loss for the airlines, restricting the demand for airline-associated services. This factor stalled the revenue generation stream of the aircraft wheels MRO market.
The North America aircraft wheels MRO market is segmented based on wheel type, aircraft type, technology, and country. Based on wheel type, the market is segmented into nose wheel and main wheel. The main wheel segment dominated the North America aircraft wheels MRO market in 2020 and same segment is expected to be fastest growing during forecast period. Based on aircraft type, the market is bifurcated into narrowbody aircraft, widebody aircraft, general aviation aircraft, military aircraft, and helicopter. The narrowbody aircraft segment dominated the North America aircraft wheels MRO market in 2020 and widebody aircraft segment is expected to be fastest growing during forecast period. Based on technology, the market is segmented into inspection, non-destructive testing, machining, and others. The non-destructive testing segment dominated the North America aircraft wheels MRO market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the US, Canada, and Mexico.
AAR CORP, AeroRepair Corp., AMETEK Inc., Lufthansa Technik, and TP Aerospace. are among the leading companies in the North America aircraft wheels MRO market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, TP Aerospace established a third commercial division to the corporation and formally joined the distribution sector. This is another step in TP Aerospace's ambition to provide fully comprehensive wheel solutions for aircraft operators around the world, and it demonstrates the company's Green Sunrise expansion strategy.
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