Aircraft Wheels MRO Market Set to Register 7.2% CAGR During 2021-2028

Aircraft Wheels MRO Market Forecast to 2028 - COVID-19 Impact and Global 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)

The aircraft wheels MRO market is expected to grow from US$ 1,704.25 million in 2021 to US$ 2,769.54 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028.

The "Global Aircraft Wheels MRO Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductors industry with a special focus on global market trend analysis. The report aims to provide an overview of the Aircraft Wheels MRO market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading Aircraft Wheels MRO market players and offers key trends and opportunities in the market.

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With the unexpectedly developing aviation enterprise from the previous few years, the call for aircraft wheels MRO offerings is also increasing. Emerging economies in APAC are showcasing a great upward push in the adoption of MRO offerings for business and army plane additives, consisting of aircraft wheels. The nicely-installed MRO hubs in Singapore, Malaysia, and Thailand, amongst others, produce substantial revenues from the services furnished for aircraft wheels. The aircraft wheels MRO carrier hub in Singapore is characterized via the presence of AMETEK Singapore Pte Ltd., SIA Engineering Company Limited, and Singapore Technologies Aerospace Ltd, among others. In June 2019, Singapore Technologies Engineering Ltd shaped a joint challenge with Vietnam Airlines Engineering Company (VAECO) to offer MRO offerings for wheels and other aircraft additives to Vietnam Airlines.

Further, in step with Wisconsin Economic Development Corporation (WEDC), the country homes over a hundred and twenty aerospace organizations that contribute to ~25% of the MRO offerings commercial enterprise in APAC. Further, Singapore-based totally airlines have a look at the widespread increase in passenger counts, which is compelling them to perform their aircraft fleet for prolonged periods. The flying frequency is immediately proportional to the demand for MRO sports, related to repairing or changing wheels and other plane additives. Additionally, international locations such as Malaysia, Thailand, Vietnam, Indonesia, and the Philippines are witnessing a surge in aircraft wheels MRO services because of the upward thrust in call for passenger airline services. Thus, the increase in the wide variety of plane MRO service providers and growth in plane fleet volumes in APAC are creating good commercial enterprise surroundings for the Aircraft Wheels MRO market gamers.

Aircraft Wheels MRO Market: Competitive Landscape and Key Developments
AAR CORP, AeroRepair Corp., AEROSPACE MRO CO., LTD., Air Atlanta Aviaservices, AMETEK Inc., Lufthansa Technik, Röder Präzision GmbH, Technic Aviation, TP Aerospace., and World Aero

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Based on technology, the aircraft wheels MRO market is segmented into inspection, non-destructive testing, machining, and others. The inspection segment comprises visual inspections, process compensated resonance testing (PCRT), and inspection through conductivity meter and current flaw detector. The visual inspection involves detecting damages on aircraft wheels in case of one bolt is found missing. Further, the PCRT method is used for wheel inspection, which produces an accurate, fast, and automated non-destructive inspection by measuring the whole wheels' resonance frequencies. Furthermore, the inspection through conductivity meter is widely used to verify alloy/temper or detect heat damaged components in aircraft wheels.

Impact of COVID-19 Pandemic on Aircraft Wheels MRO Market
The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on the movement of vehicles and humans. Air travel ban was one of the stringent rules set by governments across the globe during the first half of 2020. These bans led the aviation industry to halt the operations and experience the lowest revenue generation during the period. The airport sector also witnessed a stiff decline in passenger count, aircraft movement, and revenue generation. The significant loss in revenues resulted in limited investments by airline operators in MRO services. This factor showcased a fall in demand for aircraft MRO services, which hampered the growth of the aircraft wheels MRO market.

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