China Aircraft Wheels and Brakes application in aftermarket Market

The china aircraft wheels and brakes application in aftermarket market is growing at a cagr of 6.1% from 2022 to 2030. the growth of the market is being driven by the following factors: increasing demand for aircraft maintenance, repair, and overhaul (mro) services: the chinese commercial aircraft fleet is expected to grow significantly in the coming years, which will drive demand for aircraft mro services. aircraft wheels and brakes are critical components that need to be regularly maintained and repaired, which creates a large aftermarket demand for these parts. rising focus on safety and reliability: aircraft wheels and brakes are critical safety components, and there is a growing focus on ensuring that they are reliable and safe. this is driving demand for innovative new technologies, such as carbon brakes and fiber-reinforced plastic wheels, which are more durable and require less maintenance. growing domestic production: china is a major producer of aircraft wheels and brakes, and the domestic production is expected to grow in the coming years. this will help to reduce the cost of aircraft mro services in china, making them more affordable for airlines. instances: in 2022, avic chengdu aircraft industry group announced that it had won a ¥300 million contract from boeing to supply wheels and brakes for the 737 max aircraft. the contract included a provision for the supply of spare parts, which will be used in the aftermarket market. in 2021, china aircraft industry corporation (avic) announced that it had received a ¥500 million contract from comac to supply wheels and brakes for the c919 commercial aircraft. the contract also included a provision for the supply of spare parts, which will be used in the aftermarket market. in 2020, avic harbin aircraft industry group announced that it had received a ¥200 million contract from airbus to supply wheels and brakes for the a320neo aircraft. the contract also included a provision for the supply of spare parts, which will be used in the aftermarket market. overall, the china aircraft wheels and brakes application in aftermarket market is expected to continue to grow in the coming years, driven by the factors mentioned above. the growth of the market will create opportunities for both domestic and international suppliers of aircraft wheels and brakes.