Key companies covered in the Aircraft Wheel Scanning System Market Research Report are Nikon Metrology NV (Belgium), Fuel3D Technologies Limited (The U.K.), Creaform Inc. (Canada), Capture 3D, Inc. (California), Artec Europe, S.a.r.l (Luxembourg), Shenzhen HOLON Technology Co. Ltd (China), Hexagone AB (Sweden), FARO Technologies, Inc. (The U.S.), Carl Zeiss Optotechnik GmBH (Germany), Autodesk Inc. (The U.S.), Aeroscan (The U.S.)
The global aircraft wheel scanning system market size is projected to reach USD 855.4 million by 2028, exhibiting a CAGR of 7.0% during the forecast period. As per a new report published by Fortune Business Insights™, titled “Aircraft Wheel Scanning System Market, 2021-2028”, the global market value was USD 650.0 million in 2020.
With international and domestic air travel in major economies experiencing unprecedented contraction amid the COVID-19 pandemic, the aircraft wheel scanning system market growth has been severely impacted. In 2019, the size of the market stood at USD 940.0 million; in 2020, as the pandemic intensified, the market registered a negative growth rate of -30.85% and reached a value of USD 650.0 million. As aircraft manufacturing activities have sharply declined due to social distancing and trade and travel restrictions, the deployment of aircraft inspection systems has shrunk, impeding the progress of the market.
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List of Key Players Profiled in the Aircraft Wheel Scanning System Market Report:
- Nikon Metrology NV(Belgium)
- Fuel3D Technologies Limited (The U.K.)
- Creaform Inc. (Canada)
- Capture 3D, Inc. (California)
- Artec Europe, S.a.r.l (Luxembourg)
- Shenzhen HOLON Technology Co., Ltd(China)
- Hexagone AB (Sweden)
- FARO Technologies, Inc. (The U.S.)
- Carl Zeiss Optotechnik GmBH (Germany)
- Autodesk Inc. (The U.S.)
- Aeroscan (The U.S.)
Increasing Procurement of Military Aircraft to Generate Huge Opportunities for Key Players
Emerging economies, such as China and India, have been steadily increasing their defense spending to enhance their military capabilities. One of the marquee features of this increased spending is the procurement of advanced aircraft, such as the 2020 Rafale deal signed between India and France. These procurements are expected to create highly profitable opportunities for aircraft wheel scanning system developers, primarily in the field of MRO and inspection services.
DAES Group Announces Completion of Wheel and Brake Facility in Riyadh
In November 2019, DAES Group successfully completed the construction of a turnkey wheel and brake facility for the maintenance, repair, and overhaul (MRO) provider, First Class Aviation Services, headquartered in Riyadh, Saudi Arabia. Built to handle at least 1,000 wheel units in a year, the new facility is equipped with state-of-the-art aircraft wheel scanning systems and machinery. Moreover, the shop has been designed to facilitate automated services, reduce manual labor, and improve precision, along with saving time. The entire project was managed by the DAES Group and is part of First Class Aviation’s regional expansion strategy, which will be followed by another facility in Jeddah airport.
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Tangible Advantages of Structured Light 3D Scanners to Catalyze Market Growth
Structured-light 3D aircraft wheel scanning systems and solutions have gained rapid prominence in the aviation industry, driven mainly by the material benefits offered by this inventive technology. For example, structured light 3D scanners can acquire data quickly and accurately as they have the capability to scan different points at once and build data in the form of mesh models. These models can then be exported to computer-aided design (CAD) software to be used in the final fabrication process. Moreover, 3D scanning can also enhance the manufacturing process. UK-based Physical Digital, a 3D scanning specialist, offers the TRITOP photogrammetry system to inspect the unification of large castings between components. Thus, this scanning technology can play an instrumental role in improving the assembly and integration processes of aircraft landing gear, which will augur well for this market.
Hardware Segment to Hold the Leading Market Share till 2028
Based on component, the global market has been grouped into hardware, software, and services. Among these, the hardware segment led the market in 2020 and is expected to retain its leading position during the forecast period owing to the extensive utilization of different types of physical scanners in the aviation industry. Based on system, the market for aircraft wheel scanning systems has been segmented into laser 3D scanners, structured light 3D scanners, and others. On the basis of aircraft type, the market has been bifurcated into fixed-wing aircraft and rotary-wing aircraft. By geography, the market has been grouped into North America, Europe, Asia Pacific, and the Rest of the World.
Industry Forecasts Spectacular Market Growth in Asia Pacific
- The Asia Pacific market is set to display sterling growth in the approaching decade, fueled by the meteoric rise in air travel, especially in India and China, over the past couple of decades. This is underpinned by the proliferation of low-cost domestic airlines and the rapid expansion of the middle-class in these countries.
- North America is anticipated to dominate the aircraft wheel scanning system market share till 2028 due to the complementary presence of aircraft OEMs, such as Autodesk, and aviation industry giants, such as Boeing and Bombardier. The North America market size stood at USD 218.2 million in 2020.
Industry Development:
- February 2020: The Indian government signed a deal worth USD 3 billion for the procurement of MH-60 Romeo and Apache attack helicopters. While the MH-60 helicopters are built by Lockheed Martin, the Apache choppers have been engineered by The Boeing Company.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Aircraft Wheel Scanning System Market Business Opportunities, Top Manufacture, Growth by 2028
