That is the lower control arm.
They do tend to bend, or suffer fractures or tears if the wheel hits something.
However, if you hit something hard enough to damage it, then chances are it is not the only thing damaged.
The car really needs to be put up in the air with the wheel taken off, and someone with some experiance (i.e. not auto-tech students) needs to have a close inspection.
You might replace the arm, only to find the hub is cracked and wheel falls off, or the bearings size at speed.