Global Commercial Aircraft Landing Gear Market Size, Share, Growth Analysis, By Type(Main Landing Gear, and Nose Landing Gear), By Application(Narrow-body Aircraft and Wide-body Aircraft) - Industry Forecast 2024-2031

Report ID: SQMIG20A2072 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 60 | Figures: 75

Global Commercial Aircraft Landing Gear Market Dynamics

Commercial Aircraft Landing Gear Market Drivers

Increasing demand for new airliners

One key driver for the growth of the commercial aircraft landing gear market is the increasing demand for new airliners driven by the expansion of major airlines and the surging growth in the commercial aviation sector. The rise in air passenger traffic worldwide, coupled with improvements in global economic conditions, has resulted in a steep increase in the number of commercial airplanes. As a result, there is a growing need for commercial aircraft landing gear systems to cater to the increasing air travel demand and replace older, less fuel-efficient aircraft.

Commercial Aircraft Landing Gear Market Restraints

Potential impact of increasing energy costs, expensive raw materials, and U.S. dollar inflation

One significant restraint facing the commercial aircraft landing gear market is the potential impact of increasing energy costs, expensive raw materials, and U.S. dollar inflation. These factors can pose challenges to the industry's growth by raising production costs and reducing profit margins. Additionally, fluctuations in energy prices and currency exchange rates can affect the affordability of new aircraft and subsequently dampen the demand for commercial aircraft landing gear systems. Industry players need to closely monitor and manage these cost-related challenges to maintain a competitive position in the market.

Global Commercial Aircraft Landing Gear Market Report Snapshots

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The Global Commercial Aircraft Landing Gear Market size was valued at USD 2.75 Billion in 2022 and is poised to grow from USD 3.13 Billion in 2023 to USD 8.87 Billion by 2031, at a CAGR of 13.90% during the forecast period (2024-2031).

Global commercial aircraft landing gear market is characterized by increasing competition among industry participants across the value chain. Several companies are focusing on technological advancements to enhance the performance and efficiency of landing gear systems. Manufacturers are investing in research and development activities to introduce lightweight materials, electronic technologies, and innovative solutions. Additionally, companies are developing strategic partnerships and collaborations to expand their market presence and leverage synergies. The intense competition in the market is driving innovation and pushing companies to differentiate their offerings to gain a competitive edge. 'Safran (France)', 'United Technologies Corporation (US)', 'Collins Aerospace (US)', 'Honeywell International Inc. (US)', 'Liebherr-International AG (Switzerland)', 'UTC Aerospace Systems (US)', 'Eaton Corporation (Ireland)', 'Triumph Group Inc. (US)', 'Héroux-Devtek Inc. (Canada)', 'CIRCOR International, Inc. (US)', 'GKN Aerospace (UK)', 'Heroux-Devtek (Canada)', 'AAR Corp. (US)', 'Messier-Bugatti-Dowty (France)', 'Parker Hannifin Corporation (US)', 'Magellan Aerospace (Canada)', 'Meggitt PLC (UK)', 'SPP Canada Aircraft, Inc. (Canada)', 'Whippany Actuation Systems LLC (US)', 'BBA Aviation plc (UK)'

One key driver for the growth of the commercial aircraft landing gear market is the increasing demand for new airliners driven by the expansion of major airlines and the surging growth in the commercial aviation sector. The rise in air passenger traffic worldwide, coupled with improvements in global economic conditions, has resulted in a steep increase in the number of commercial airplanes. As a result, there is a growing need for commercial aircraft landing gear systems to cater to the increasing air travel demand and replace older, less fuel-efficient aircraft.

One key market trend in the commercial aircraft landing gear industry is the increasing focus on lightweight materials and advanced technologies. Manufacturers are striving to develop landing gear systems that are lighter in weight, yet maintain durability and strength. This trend is driven by the industry's need for fuel efficiency and improved performance. Additionally, there is a growing emphasis on the integration of electronic technologies, such as sensor-based systems and advanced control mechanisms, to enhance safety, reduce maintenance requirements, and optimize overall aircraft performance during landing and takeoff.

North America holds a dominant position due to several factors. The region is home to major aircraft manufacturers and has a well-established aviation industry. The presence of key players, such as Boeing and Airbus, contributes to the region's dominance. These companies have a strong foothold in North America and continuously innovate to meet the growing demand for commercial aircraft.

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Global Commercial Aircraft Landing Gear Market Size, Share, Growth Analysis, By Type(Main Landing Gear, and Nose Landing Gear), By Application(Narrow-body Aircraft and Wide-body Aircraft) - Industry Forecast 2024-2031

Global Commercial Aircraft Landing Gear Market Dynamics

Global Commercial Aircraft Landing Gear Market Report Snapshots

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