South America Aircraft Wheels and Brakes Market

Market Introduction

South American aviation sector presents enormous growth potential, owing to the increasing air passenger traffic, aircraft orders and deliveries, government initiatives, and funding toward the defense sector and technological advancements. The aviation market in SAM and the Caribbean is expected to witness growth, in terms of both interregional connectivity and connections with the rest of the world. The SAM aviation industry occupies a significant share in the global market. This is majorly attributed to the authorities of the region that have introduced an operational and regulatory framework to enable the airlines to make the greatest possible economic contribution and maximize aviation’s benefits for national and regional development. Rising sustainable development goals, addressing infrastructure bottlenecks, and planning to respond to growing passenger and cargo demand are anticipated to boost the SAM aerospace sector during the forecast period. This will provide a promising growth opportunity for the aircraft wheels and brakes market players. The key players in the SAM aerospace industry include Embraer SA., Airbus SE., Boeing Company, Lockheed Martin Corporation, and Bombardier Inc. Increase in plans to modernize military aircraft fleet, growth of low-cost carriers, and privatization of Brazil, Jamaica, Honduras, Paraguay, and Peru airports are expected to develop the airport infrastructure, thereby increasing the number of MRO service providers. This, in turn, would boost the demand for lightweight and efficient aircraft components such as wheels and brakes over the years. This factor is seen to be an influential factor for the aircraft wheels and brakes market.

In South America Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. Governments of South American countries has taken all necessary actions to protect their citizens and control the COVID-19 spread. Brazil is the largest spender in the aerospace industry and the only modern aircraft manufacturing country in the region. Owing to this, the demand for components and aircraft related systems and technologies 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 these countries has impaired the supply chain in Brazil. This has weakened the demand for several components, including wheels and brakes.

 

South America Aircraft Wheels and Brakes Strategic Insights

Strategic insights for the South America Aircraft Wheels and Brakes 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.

South America Aircraft Wheels and Brakes Report Scope

South America Aircraft Wheels and Brakes Regional Insights

The geographic scope of the South America Aircraft Wheels and Brakes 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.

Market Overview and Dynamics

The aircraft wheels and brakes market in South America is expected to grow from US$ 763.13 million in 2021 to US$ 1,067.77 million by 2028; it is estimated to grow at a CAGR of 4.9%

from 2021 to 2028. Surge in demand for passenger airline services; commercial airline traffic has increased at a noteworthy rate in the past few months, after a notable decrease in COVID-19 cases in many parts of the world. Further, a rise in passenger airline operations highlights the need for additional aircraft to reduce the operational burden of existing fleets, thus compelling the airline companies to procure new aircraft fleets. In June 2021, United Airlines, Inc. rolled out its purchase order of 200 Boeing 737 (including 50 B737 Max 8s and 150 737 Max 10s) and 70 Airbus 321 Neo fleet. Similarly, Indigo Airlines received 44 A320 Neo aircraft in January 2020, and it is yet to receive more than 250 aircraft models.  Hence, the rising production and procurement of new aircraft fleets, in response to the growing demand for passenger airline services, is boosting the adoption of aircraft wheels and brakes, thereby driving the market growth.

Key Market Segments

Based on component, the market is segmented into braking systems, wheels, and brakes. In 2020, the brakes segment held the largest share South America aircraft wheels and brakes market. Based on fit type the market is divided into line fit and retro fit. In 2020, the retro fit segment held the largest share South America aircraft wheels and brakes market. Based on end user, the market is segmented into defense and commercial. In 2020, commercial segment held the largest share South America aircraft wheels and brakes market.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the aircraft wheels and brakes market in South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Collins Aerospace, Honeywell International Inc., Meggitt PLC, Parker Hannifin Corporation, and Safran among others.

Reasons to buy report

• To understand the South America aircraft wheels and brakes market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for South America aircraft wheels and brakes market
• Efficiently plan M&A and partnership deals in South America aircraft wheels and brakes market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South America aircraft wheels and brakes market
• Obtain market revenue forecast for market by various segments from 2021-2028 in South America region

SOUTH AMERICA AIRCRAFT WHEELS AND BRAKES MARKET SEGMENTATION

By Component

• Braking System
• Wheels
• Brakes

 

By Fit Type

• Line Fit
• Retro Fit

 

By

End User

• Defense
• Commercial

By Country

• Brazil
• Argentina
• Rest of South America

 

Company Profiles

• Collins Aerospace
• Honeywell International Inc.
• Meggitt PLC
• Parker Hannifin Corporation
• Safran