PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530749
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530749
According to Stratistics MRC, the Global Powered Wheels for Aircraft Landing Market is accounted for $5.05 billion in 2024 and is expected to reach $8.80 billion by 2030 growing at a CAGR of 9.7% during the forecast period. Powered wheels for aircraft landing are motorized wheels integrated into an aircraft's landing gear. These wheels allow planes to maneuver on the ground without using their main engines, reducing fuel consumption, emissions, and noise during taxiing operations. By enabling aircraft to move independently on the tarmac, powered wheels enhance operational efficiency, decrease turnaround times, and contribute to more sustainable airport operations, particularly for short-haul flights with frequent takeoffs and landings.
According to the Federal Aviation Administration (FAA), it forecasts a 4.1% annual increase in passenger traffic over the next 20 years, translating to a significant rise in aircraft operations.
Rising aircraft deliveries
The increasing number of aircraft deliveries is a key driver for the powered wheels for aircraft landing market. As global air travel demand grows, airlines are expanding their fleets, leading to more orders for new aircraft. This directly boosts demand for powered wheel systems, which are essential components of landing gear. The rising aircraft production rates, especially for popular narrow-body models, create a steady stream of opportunities for powered wheel manufacturers to supply both original equipment and replacement parts.
Certification challenges
Stringent certification requirements pose a significant restraint for the powered wheels for aircraft landing market. Aviation authorities like FAA and EASA have rigorous safety standards for aircraft components, including landing gear systems. Obtaining certifications for new powered wheel designs or technologies can be a lengthy and costly process, involving extensive testing and documentation. These regulatory hurdles can slow down innovation and market entry for new products, potentially limiting the pace of advancements in powered wheel technology.
Technological advancements
Innovations in materials, such as lightweight alloys and composites, can improve wheel performance and fuel efficiency. Integration of smart sensors and monitoring systems enables predictive maintenance and enhances safety. Electrification of wheel systems, including electric taxiing capabilities, offers potential for reduced emissions and operational costs. These technological developments open new avenues for product differentiation and value-added features in powered wheel systems.
Competition from traditional methods
Competition from traditional methods poses a threat to the Powered Wheels for Aircraft Landing Market due to established practices and infrastructure reliance. Conventional methods like fixed landing gear systems have a proven track record and familiarity within the industry, posing challenges for the adoption of newer technologies. Resistance to change, concerns over reliability, and the high initial costs associated with powered wheels can hinder market growth.
The COVID-19 pandemic significantly disrupted the aviation industry, causing a sharp decline in air travel and aircraft orders. This led to reduced demand for powered wheels and other aircraft components. However, as air travel recovers, there is potential for a rebound in the market, with possible acceleration of newer technologies to improve efficiency and reduce operating costs in the post-pandemic era.
The commercial aircraft segment is expected to be the largest during the forecast period
The commercial aircraft segment is expected to dominate the market due to the sheer volume of commercial flights and aircraft in operation globally. Airlines' focus on fuel efficiency and reduced maintenance costs drives demand for advanced powered wheel systems. The segment benefits from the continuous fleet renewal cycles of major carriers and the expansion of low-cost airlines in emerging markets. Additionally, the increasing size of commercial aircraft requires more sophisticated landing gear systems, further boosting the demand for powered wheels.
The electrically powered wheels segment is expected to have the highest CAGR during the forecast period
Electrically powered wheels are gaining traction during the forecast period due to their potential to significantly reduce fuel consumption and emissions during taxiing operations. This technology allows aircraft to move on the ground without using main engines, offering both environmental and cost benefits. The growing emphasis on sustainable aviation practices and the push for electrification across the aerospace industry are driving rapid advancements in this segment. In addition, airline interest in reducing their carbon footprint and operating costs is expected to accelerate the adoption of electrically powered wheel systems.
The Europe region is positioned to dominate the powered wheels for aircraft landing market. Europe's strong aerospace manufacturing base, including major players like Airbus and Safran, contributes to its market leadership. The region's stringent environmental regulations and focus on aviation sustainability drive innovation in powered wheel technologies. Additionally, Europe's well-established MRO (Maintenance, Repair, and Overhaul) sector supports a robust aftermarket for powered wheel systems, further solidifying its dominant market position.
The Asia Pacific region anticipates rapid growth in the powered wheels for aircraft landing market. This growth is fueled by the expanding aviation sector in countries like China and India, where rising air travel demand is driving fleet expansion. Increasing domestic aircraft manufacturing capabilities and government initiatives to develop aerospace industries contribute to the region's high growth rate. The modernization of airport infrastructure across Asia Pacific also creates opportunities for advanced landing gear technologies, including powered wheel systems.
Key players in the market
Some of the key players in Powered Wheels For Aircraft Landing market include Safran Landing Systems, RTX Corporation, Honeywell Aerospace, Liebherr-Aerospace, Meggitt PLC, Parker Hannifin Corporation, Crane Aerospace & Electronics, AAR Corp., Circor Aerospace, Triumph Group, Crane Co., Beringer Aero, Moog Inc., and Heroux-Devtek Inc.
In March 2024, Honeywell announced the intention to acquire the entire share capital of Civitanavi Systems S.p.A. (Civitanavi or the Company) (Euronext Milan Exchange: BIT: CNS). Honeywell will initiate a voluntary tender offer to acquire all outstanding shares of Civitanavi for a purchase price of €6.30 per share in cash (an equity value of approximately €200 million at closing).
In March 2024, Raytheon, an RTX business, was awarded a $1.2 billion contract to supply Germany with Patriot(R) air and missile defense systems. These systems will augment Germany's existing air defense infrastructure with additional Patriot equipment. The scope of the contract includes the most current Patriot Configuration 3+ radars, launchers, command and control stations, associated spares, and support.
In January 2024, Crane Aerospace & Electronics has launched a new 120W family of power conversion products called the Interpoint xMOR. The Interpoint xMOR product family features four DC-DC power converters with shared core architecture, each tailored to address different aerospace and defence market needs.