Report : South America Aircraft Wheels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Main Wheel and Nose Wheel), Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft, and UAV), Fit Type (Line Fit and Retrofit), and End-User (Commercial and Military)

Rotary Wing Aircraft is expected to be the fastest growing Segment during the forecast period 2021–2028

According to a new market research study on “South America Aircraft Wheels Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Aircraft Type, Fit Type and End-User,” is expected to reach US$ 243.55 million by 2028 from US$ 174.07 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides opportunity prevailing in the South America aircraft wheels market along with the drivers, trend and restraints pertaining to the market growth. Ramping adoption of lightweight alloy to manufacture aircraft wheels, burgeoning volumes of aircraft orders and their deliveries, and up-scaling use of CFRP composite in aircraft nose wheel manufacturing are the major factor driving the growth of the South America aircraft wheels market. However, expanded life span of aircraft wheels hinder the growth of South America aircraft wheels market.

Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. South America's government has taken an array of actions to protect their citizens and contain COVID-19's spread. Brazil is the largest spender in the aerospace industry and is the only modern aircraft manufacturing country in the region. Owing to this, the demand for components related to aircraft is at an all-time high in the country. In addition, the majority of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including aircraft wheels. Thus, the outbreak of COVID-19 has had a harsh impact on the South American aircraft wheels market, especially in Brazil.

The South America aircraft wheels market is segmented on the bases of type, aircraft type, fit type, and end-user, and country. Based on type, the market is segmented into nose wheel and main wheel. In 2020, main wheel segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on aircraft type, the aircraft wheels market is segmented into fixed wing aircraft, rotary wing aircraft, and UAV. In 2020, fixed wing aircraft segment held the largest share in the market and UAV is expected to be the fastest growing segment during the forecast period. Based on fit type, the market is segmented into line fit and retro fit. In 2020, retro fit segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into military and commercial. In 2020, commercial segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest share in the market it is also expected to be the fastest growing country during the forecast period.

Collins Aerospace; Meggitt PLC; Honeywell International Inc.; Parker Hannifin Corporation; BERINGER AERO; and Lufthansa Technik are among the leading companies in the South America aircraft wheels market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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