USD 6717.12 million
Report ID: SQSG20F2003 | Region: Global | Published Date: November, 2022 | Pages: 249 | Tables: 87 | Figures: 76
Global Aircraft Landing Gear Market size was valued at USD 6717.12 million in 2021 and is poised to grow from USD 7100 million in 2022 to USD 11693.19 million by 2030, growing at a CAGR of 5.7% in the forecast period (2023-2030).
The demand for new aeroplanes and subsequently for landing gear is anticipated to be driven by the development in the fleet sizes of major airlines and the explosive growth of the commercial aviation industry. The increased production of next-generation aircraft is expected to result in significant growth for the civil aviation industry. The number of passengers flying internationally has increased as a result of improvements in the state of the world economy. To meet the rising demand for air travel, there has been a sharp rise in the number of commercial aircraft. The demand is anticipated to rise along with the number of commercial aircraft.
The performance of the entire aircraft upon touchdown and the length of downtime for the aircraft are currently optimised through the use of lightweight materials, electronic technologies, and new innovative solutions by makers. Compared to their more established competitors, these new systems require less upkeep. Over the next eight years, the sector is anticipated to be driven by the growing need for more environmentally friendly and fuel-efficient airliners to replace the outdated ones.
The market is growing quickly. Modern hydraulic and mechanical systems are rapidly being replaced by technologically superior control systems. Additionally, the competition amongst the industry incumbents existing throughout the value chain is escalating quickly. The worldwide economy is altering in tandem with how the global industry is evolving. However, difficulties like rising energy prices, high raw material costs, and the inflation of the US dollar are anticipated to hinder industrial expansion in the near future. In an effort to get around these challenges, numerous participants along the value chain, from OEMs to component and raw material suppliers, have begun creating new business procedures to take advantage of the industry's quick internationalisation.
US Aircraft Landing Gear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6717.12 million
main landing gear
nose landing gear
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The global aircraft landing gear market is segmented based on the type, platform, end-user and region. Based on the type, the market is segmented as nose landing gear and main landing gear. Based on the platform, the market is segmented as rotary wing and fixed wing. Based on the end-user, the global aircraft landing gear market is segmented as OEM and Aftermath. Based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Aircraft Landing Gear Market Analysis by Type
Fuel demand for the main landing gear is increasing as deliveries of commercial aircraft increase. A larger segment is anticipated for main landing gear in 2020 as a result of a rise in passenger and delivery aircrafts in Middle Eastern and Asian nations. For instance, with a fleet of more than 280 planes in operation and plans to take delivery of 500+ airplane by the end of 2030, Indigo Airlines, a division of Inter Globe Aviation, is the largest customer of the Airbus-320. On the other hand, the development of sophisticated steering systems to enable the smooth steering of an aircraft is expected to drive the growth of the nose landing gear segment over the forecast period.
Aircraft Landing Gear Market Analysis by Platform
Rotary-wings segment to grow significantly. The market is divided into fixed-wing and rotary-wing aircraft types based on platform. The fixed-wing category is further divided into fixed-wing UAVs, regional jets, general aviation aircraft, business aircraft, and military aircraft. Military, civilian, and rotary UAV helicopters are the three subcategories of rotary-wing aircraft. Due to the increased number of commercial airplane deliveries supported by the rising demand for low-cost airlines, the fixed-wing category is anticipated to be the largest segment throughout the forecast period. Due to the increased demand for helicopters from the defence industry in key Asian economies, the rotary-wing segment is expected to have the fastest growth throughout the projection period.
Aircraft Landing Gear Market Analysis by End-User
OEM will make up the majority of the market as airlines prioritise fleet expansion activities. The market segments include OEM and aftermarket based on end-user. Due to airlines in Asia Pacific and the Middle East expanding their aircraft fleet, the OEM segment is anticipated to dominate the market throughout the forecast period. Airlines have expanded their fleet of aircraft as a result of rising passenger volume, which will spur market expansion. Due to the increased number of flights per aircraft, which shortens the lifecycle of the landing gear and increases MRO prospects in North America and Asia Pacific, the aftermarket sector is anticipated to experience significant development.
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North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa comprise the segments of the worldwide market. In 2020, the North American market was valued at $3.85 billion. In 2020, North America dominated the world market for landing gear. Additionally, the U.S. aviation and aerospace industry is expanding quickly, which has ultimately increased demand for aircraft gearboxes. the existence of important players like Collins Aerospace. A major factor in the expansion of the business in the region is the presence of top aircraft producers like the Boeing Company and Bombardier Inc. Due to the presence of notable OEMs and important players like Airbus, Leonardo Spa, and Safran SA, the market in Europe is predicted to develop moderately. These businesses rank among the best in the area and have some potential clients from all over the world in this market. Due to the increased spending on military aviation by the government on defence, the market in the Asia Pacific region is anticipated to rise significantly. In addition, the market in Asia Pacific is anticipated to expand rapidly because to the region's expanding MRO prospects. The dominant nations in this region are likely to continue to be those like China and Japan. India, on the other hand, is expected to have the fastest growth throughout the forecast period due to its rapid expansion in the commercial aviation sector.
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Aircraft Landing Gear Market Driver
Aircraft Landing Gear Market Restraint
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With the development of its composite landing gear, GKN Aerospace will raise the bar. With its expenditures in composite manufacturing process research and development, GKN Aerospace is anticipated to strengthen its position in the industry. Alongside the largest robotic fibre braiding equipment in Europe, GKN is concentrating on creating automated composite manufacturing facilities with the National Dutch Aerospace Laboratory in an effort to reduce costs and time. The company is concentrated on expanding its capabilities through strategic alliances and acquisitions. In addition, other significant firms like AAR Corporation, Safran SA, Collins Aerospace, and others are concentrating on converting their goods to provide clients with cost-effective systems.
Top Players in the Global Aircraft Landing Gear Market
Aircraft Landing Gear Market Recent Developments
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According to our global aircraft landing gear market analysis, modern aeroplanes are being used more frequently because of their better qualities and increased fuel efficiency, which are the main reasons fueling market expansion. Additionally, the industry is now experiencing a spike in commercial aircraft orders, which is anticipated to boost this market. These factors include the increased demand for fleet expansion and the emergence of low-cost and ultra-low-cost airlines. A further factor that may support market expansion is a rise in government spending on military aircraft to improve defensive capabilities. Additionally, the market growth is accelerated by the growing use of UAVs in military operations. Brakes, wheels, and actuation systems are examples of suspension parts that can degrade over time and require routine maintenance.
|Market size value in 2021||USD 6717.12 million|
|Market size value in 2030||USD 7100 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Aircraft Landing Gear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aircraft Landing Gear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Some of the major players in the aircraft landing gear market are AAR Corporation (U.S.), Alaris Aerospace (U.S.), CIRCOR International Inc. (U.S.), Collins Aerospace (U.S.), GKN Aerospace (U.K.), Hawker Pacific Aerospace (U.S.), Heroux-Devtek Inc. (Canada), Liebherr Group AG (Germany), Magellan Aerospace, Corporation (Canada), Safran SA (France), SPP Canada Aircraft Inc. (Canada), Triumph Group Inc. (U.S.).
Due to the increased number of commercial airplane deliveries supported by the rising demand for low-cost airlines, the fixed-wing category is anticipated to be the largest segment throughout the forecast period.
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