Europe Aircraft Wheel and Brake M.R.O. Market by Aircraft Type (Narrow Body, Wide Body and Regional Jets)
Industry: Industrial Automation
Published Date: April-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 180
Report ID: PMRREP33429
According to the latest market study published by Persistence Market Research, the Europe Aircraft Wheel and Brake M.R.O. Market is forecasted to expand at a CAGR of 4.6%, thereby increasing from a valuation of US$ 3.26 billion in 2023 to US$ 4.95 billion by the end of 2033.
The aviation industry is being fueled by an increase in passenger volumes, which means the aircraft wheel and brake M.R.O. business will also thrive. Airlines need to keep their fleets in top condition to ensure safety and reliability, and this requires regular maintenance and repairs. Many aircraft in operation are reaching the end of their useful life and require more frequent maintenance and repairs.
Airlines are constantly seeking ways to upgrade their fleets to improve fuel efficiency and reduce maintenance costs. This has led to the adoption of new, lighter-weight materials for manufacturing aircraft components, including wheels and brakes. As a result, aircraft M.R.O. providers must stay up to date with the latest technologies to keep up with this growing demand.
| Attribute | Key Insights |
|---|---|
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Europe Aircraft Wheel and Brake M.R.O. Market Size (2022A) |
US$ 3.13 Billion |
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Estimated Market Value (2023E) |
US$ 3.26 Billion |
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Forecasted Market Value (2033F) |
US$ 4.95 Billion |
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Value CAGR (2023 to 2033) |
4.6% |
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Collective Value Share: Top 3 Countries (2023E) |
45% |
The need for M.R.O. services for aircraft wheels is rising along with the aviation industry's rapid growth. The usage of M.R.O. services for aircraft wheels and other parts of commercial and military aircraft has been significantly increasing in Europe, especially in emerging economies.
Substantial revenue is being generated by the services offered for aircraft wheels at reputable M.R.O. hubs. Additionally, several airlines are being forced to fly their fleet of aircraft for longer durations due to the noticeable spike in the number of passengers.
Demand for MRO activities, which include the maintenance, repair, and overhaul of wheels and other aircraft parts, is inversely correlated with the frequency of flights. Also, with the expansion of the existing fleet of aircraft carriers, it has been observed that there is a low rate of replacement of old fleets with fuel-efficient new aircraft, which may be due to low fuel prices or growth in passenger traffic, and this has generated greater demand for more aircraft to provide better connectivity. Companies are keeping their old fleets while also including new aircraft. This increase in aircraft fleets will lead to the growth of the European aircraft wheel and brake M.R.O. market over the coming years.
Companies in the European market, such as Collins Aerospace., Lufthansa Technik AG, Honeywell Aerospace, Delta Airlines Inc., AAR Corporation, FL Technics, Inc., and others, are working to improve their service quality by incorporating new technologies and materials. As a result, the market is expected to expand steadily throughout the predicted time frame.
All in all, rising number of air passengers, enforcement of stringent safety regulations, and aging and expanding fleets are the major drivers supporting market growth. The market expanded at a CAGR of 5.1% between 2018 and 2022 and is forecasted to evolve at a CAGR of 4.6% through 2033.
The aircraft wheel and brake market in Europe is seeing a growing focus on sustainability. Airlines are looking for ways to reduce their environmental footprint by using more eco-friendly materials, reducing waste, and improving energy efficiency. As concerns about climate change continue to grow, there is a growing emphasis on environmental sustainability in the aviation industry. M.R.O. providers are developing new processes and technologies to reduce the environmental impact of their operations and help airlines meet their sustainability goals.
The aviation industry is moving toward electric brakes due to their lower maintenance requirements and improved reliability. Electric brakes also offer better control and increased safety during landing and take-off. Predictive maintenance technologies, such as predictive analytics and machine learning, are being increasingly used in the market for aircraft wheels and brakes. These technologies help airlines identify potential maintenance issues before they become critical, thereby reducing downtime and maintenance costs.
Technical advances, government legislation, sustainability, and industry collaborations are all driving the aircraft wheel and brake M.R.O. market in the European region. New trends and possibilities will undoubtedly develop as the market evolves, producing a dynamic and fascinating industry geared for tremendous growth over the coming decades.
What is the Aircraft Wheel and Brake M.R.O. Market Scenario in Europe?
Germany, the United Kingdom, and Spain have high market potential in the European region due to the presence of various prominent OEMs and independent M.R.O. service providers. The potential of the market in the BENELUX region will be low due to the absence of proper infrastructure or reliable, independent service providers.
Which Aircraft Application Generates High Revenue for Wheel and Brake M.R.O. Suppliers in Europe?
The aircraft wheel and brake M.R.O. market is classified into two categories: commercial and defense. The commercial segment accounts for a leading share of the market.
Owing to a significant increase in air travel and the requirement for more aircraft to carry passengers, more ground support equipment will be required. PMR expects the commercial segment to grow at a healthy rate over the forecast period. Furthermore, it will be supported by the high demand for airfraft wheel M.R.O. services in countries such as Germany, the United Kingdom and Spain.
Which Type of Aircraft Accounts for High Deployment of Wheel and Brake M.R.O.?
The market is anticipated to be dominated by narrow body aircraft during the forecast period as these are the most widely used across the region. The narrow body segment accounts for 68.7% market share in 2023 and is estimated to create an absolute dollar opportunity of US$ 1.28 billion between 2023 and 2033.
Which Service Providers are Leading the Market in Terms of Revenue Generation?
The aircraft wheel and brake M.R.O. industry in Europe is set to be dominated by OEMs over the coming years. The OEMs segment is forecasted to create an absolute dollar opportunity of US$ 1.06 billion from 2023 to 2033.
In recent years, key market players have been focusing on capacity expansion to meet various industry demands, which will help enhance product efficiency and adhere to stringent regulatory standards that are in place for the aviation industry. In addition, several market players in Europe are focusing on establishing new and innovative ways of developing workshop stations across the European continent.
Prominent market players are also focused on acquisitions, mergers, and partnerships with local players, distributors, and component suppliers.
Financial overview, company strategies, business sectors, product portfolio, and recent developments are all evaluated for the key players in the market research study.
| Attribute | Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
USD Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available Upon Request |
By Component:
By Aircraft Type:
By Aircraft Application:
By Service Providers:
By Country:
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The Europe aircraft wheel and brake M.R.O. market reached a valuation of US$ 3.13 billion in 2022.
The aircraft wheel and brake M.R.O. market in Europe is expected to reach US$ 4.95 billion by the end of 2033.
Aircraft wheel and brake M.R.O. demand in Europe is anticipated to exhibit a CAGR of 4.6% over the forecast period (2023 to 2033).
Collins Aerospace., Lufthansa Technik AG, Honeywell Aerospace, Delta Airlines Inc., AAR Corporation, and FL Technics, Inc. are leading players in the European market and account for over 60% market share.
Germany, the United Kingdom, and Spain are key markets for aircraft wheel and brake M.R.O. in the European region.
