Global Aircraft Landing Gear Market

Aircraft Landing Gear Market Size, Share, Growth Analysis, By Type(Nose Landing Gear, Main Landing Gear), By Platform(Fixed Wing, Rotary Wing), By End-User(OEM, Aftermarket), By Region - Industry Forecast 2024-2031

Report ID: SQSG20F2003 | Region: Global | Published Date: April, 2024
Pages: 249 | Tables: 87 | Figures: 76

Aircraft Landing Gear Market Insights

Aircraft Landing Gear Market size was valued at USD 6717.12 million in 2019 and is poised to grow from USD 7100 million in 2023 to USD 11693.19 million by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

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to be driven by the growing need for more environmentally friendly and fuel-efficient airliners to replace the outdated ones.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.

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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.

Aircraft Landing Gear Market size was valued at USD 6717.12 million in 2019 and is poised to grow from USD 7100 million in 2023 to USD 11693.19 million by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

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. 'Safran Landing Systems', 'Collins Aerospace (UTC Aerospace Systems)', 'Honeywell Aerospace', 'Liebherr Group', 'Héroux-Devtek Inc.', 'Triumph Group Inc.', 'Magellan Aerospace Corporation', 'GKN Aerospace', 'AAR Corp.', 'Meggitt PLC', 'Whippany Actuation Systems', 'CIRCOR Aerospace Inc.', 'SPP Canada Aircraft Inc.', 'UTC Aerospace Systems', 'Eaton Corporation PLC', 'APPH Ltd.', 'Parker Hannifin Corporation', 'UTC Aerospace Systems Landing Gear', 'Aerospace Turbine Rotables Inc.', 'UTC Aerospace Systems Wheels & Brakes'

Need for enhanced lightweight systems in light aircraft-Building intelligent fleets that allow future network flexibility, maximise capability while reducing risk, and enhance efficiency and sustainability are top priorities for airlines right now. The majority of conventional aircraft today use centralised, intricate, and heavy hydraulic systems to extend and retract the landing gear, as well as many of the flight control surfaces. The Electro-Hydrostatic Actuation technology is being developed by Clean Sky's Advanced Landing Gear Systems project. It enables landing gears to be extended and retracted utilising a more localised and electrical solution, saving weight, requiring less power, and producing less heat and noise.

To lighten the weight of the landing system structures, lighter composites and titanium materials are being developed. For instance, Safran was a pioneer in the development of carbon brakes, which have contributed to lighter aircraft and lower emissions. In order to improve service monitoring of landing system equipment and further increase efficiency, electric brakes and other technologies are also being used to track the wear and tear of landing gear systems. To reduce weight and improve efficiency, efforts are being made to replace heavy, traditional hydraulic landing systems with electrically integrated ones. For the upcoming generation of short- and medium-haul aircraft, Safran is currently developing an electric taxiing programme. This might boost on-time takeoffs, cut down on pollutants, and lower fuel costs by 4%.

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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Global Aircraft Landing Gear Market

Product ID: SQSG20F2003