Middle East & Africa Aircraft Wheels MRO Market
The aircraft wheels MRO market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The region is likely to exhibit moderate growth patterns in the coming years. However, the MEA records a higher air traffic capacity, resulting in a significant supply of capacity offered by almost all major operators in the region. The construction of new airports in major cities in Gulf countries is one of the primary forces driving the rise in the number of aircraft fleets in the MEA, which propels the demand for aircraft wheels MRO services. The countries such as the UAE, Saudi Arabia, and Turkey spend significantly higher amounts in the procurement of new defense aircraft or in the MRO activities of the existing aircraft fleet. According to the Federal Aviation Administration, the aviation industry in the Middle East is experiencing significant growth at an annual rate of 10%. Similarly, African countries are also experiencing growth in the aviation industry owing to the rising passenger count due to the liberalization of air service agreements. The IATA is expecting a surge of ~5.9% in annual passenger count over the next 20 years, implying more than 300 million additional passengers. Further, aircraft wheels MRO market players in the region are focusing on partnerships with other companies in the world. In November 2019, Magnetic MRO and First Premium for Support Services signed an agreement to set up an aircraft wheels MRO facility in Jeddah, Saudi Arabia. In February 2020, Honeywell International selected BNT International as its channel partner for providing African airlines with wheels maintenance services. The ongoing economic and political issues affect airline traffic in Africa; as a result, the local air traffic is growing at a slow pace, which limits the opportunities for the growth of the aircraft wheels MRO market players in the region. South African Airways Technical (SAAT) is one of the top MRO service providers in the MEA, which strongly focuses on building its third-party business.
The demand for aircraft wheels MRO services weakened over the past couple of months in the MEA countries due to implementation of travel restrictions in response to curb the spread of COVID-19. Besides, the discontinuation of wide-body jets and narrow-body jets, which were prime customers of aftermarket products and services, has affected the market growth. However, there is some positivity in the regional market due to the presence of prominent airline operators such as the Emirates Group and the Etihad Airways. Furthermore, the development of new airports in the region is expected to provide growth opportunities to the market in the coming years.
Strategic insights for the Middle East & Africa Aircraft Wheels MRO provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 31.59 Million |
| Market Size by 2028 | US$ 40.57 Million |
| Global CAGR (2021 - 2028) | 3.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Wheel Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Aircraft Wheels MRO refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The MEA aircraft wheels MRO market is expected to grow from US$ 31.59 million in 2021 to US$ 40.57 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028. Partnerships, acquisitions, and strategic collaborations are leading to new trends in the aircraft wheels MRO services market. These strategies allow the market players to expand their reach and strengthen their presence across the region. In November 2020, Bombardier started building its aircraft maintenance, repair, and overhaul (MRO) facility to enlarge its footprint and create a new customer base for its aircraft wheels MRO services. Therefore, growing partnerships, acquisitions, and strategic collaborations is expected to escalate the MEA aircraft wheels MRO market.
In terms of wheel type, the main wheel segment accounted for the largest share of the MEA aircraft wheels MRO market in 2020. In terms of aircraft type, the narrowbody aircraft segment held a larger market share of the MEA aircraft wheels MRO market in 2020. Further, the non-destructive testing segment held a larger share of the MEA aircraft wheels MRO market based on technology in 2020.
A few major primary and secondary sources referred to for preparing this report on the MEA aircraft wheels MRO market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AAR CORP, AMETEK Inc., Lufthansa Technik, and Röder Präzision GmbH.
The Middle East & Africa Aircraft Wheels MRO Market is valued at US$ 31.59 Million in 2021, it is projected to reach US$ 40.57 Million by 2028.
As per our report Middle East & Africa Aircraft Wheels MRO Market, the market size is valued at US$ 31.59 Million in 2021, projecting it to reach US$ 40.57 Million by 2028. This translates to a CAGR of approximately 3.6% during the forecast period.
The Middle East & Africa Aircraft Wheels MRO Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Aircraft Wheels MRO Market report:
The Middle East & Africa Aircraft Wheels MRO Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Aircraft Wheels MRO Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Aircraft Wheels MRO Market value chain can benefit from the information contained in a comprehensive market report.
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