Global Industry Analysis
The Aircraft Landing Gear Market is a rapidly expanding industry. It is estimated that the global Aircraft Landing Gear Market will reach $21.2 billion by 2025, growing at a compound annual growth rate of 4.1%. Aircraft landing gear provides support to the aircraft’s structure and supports its weight during take-off and landing.
In recent years, air traffic has increased steadily as the global economy has improved. This has increased the demand for aircraft, which is boosting the market for aircraft landing gear. During landing, takeoff, and while the aircraft is parked, the aircraft’s landing gear supports the entire weight of the aircraft. The landing gear of an airplane varies depending on the platform. Landing gear that resembles skis is used for snow, pontoon-type landing gear is preferred for water, and retractable-wheel landing gear is used for land.
Low-cost airlines doing short trips sometimes prefer narrow-body planes. As a result, during the forecast period, narrow-body aircraft are expected to dominate the aircraft type segment. On the other hand, connecting foreign destinations requires very large wide-body aircraft. Aircraft landing gear platform-based sales are dominated by land. Commercial aviation dominates the aircraft landing gear industry in terms of application. However, during the forecast period, military aviation is expected to experience significant expansion.Due to their increasing use in military helicopters, rotary wings are expected to see more growth than other wing types.
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Aircraft Landing Gear Market: Drivers
The growing need for global connectivity coupled with cutting air transport tariffs is expected to boost the demand for aircraft, which in turn will fuel the growth of the global aircraft landing gear market. Furthermore, the increased procurement of UAVs and combat aircraft around the world is expected to increase the market demand for aircraft landing gear during the forecast period.
Aircraft Landing Gear Market: Constraints
However, the lack of safety standards for aircraft landing gear is expected to hamper the growth of the market during the forecast period. In addition, the high cost of R&D for product development is expected to further restrict market growth.
Aircraft Landing Gear Market: Segmentation
The global aircraft landing gear market can be segmented on the basis of product type, aircraft type, platform, wing type, and application. Based on the product type, the global aircraft landing gear market can be segmented into single type landing gear, double type landing gear, tandem type landing gear, and bogie type landing gear.
Based on the type of aircraft, the market can be segmented into narrow-body aircraft, wide-body aircraft, and very large-body aircraft. On the basis of the platform, the aircraft landing gear market can be segmented into land, water, and snow. Based on the type of wing, the market can be segmented into fixed wing and rotary wing. On the basis of the application, the global aircraft landing market can be segmented into commercial aviation, business aviation, and military aviation.
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Aircraft Landing Gear Market: Regional Analysis
Based on regions, North America is expected to be a major revenue generating region in the global aircraft landing gear market. Increasing military modernization, such as the acquisition of advanced military aircraft and UAVs, is expected to increase market demand for aircraft landing gear in North America during the forecast period. Europe is expected to witness relatively faster growth in the near future.
In Asia Pacific, China and India are projected to grow at significant rates during the forecast period. The emerging middle class and rising disposable income in this region are expected to increase the demand for aircraft in Asia Pacific, which in turn fuels the growth of the aircraft landing gear market in this region.
Aircraft Landing Gear Market – Market Participants
Examples of some of the identified players in the worldwide aircraft landing gear market are mentioned below:
- UTC Aerospace Systems
- aerospace circor
- Heroux-Devtek
- Liebherr-Aerospace
- Safran landing systems
- Rotables Aerospace Turbine, Inc.
- APPH Group
- SPP Canada Aircraft, Inc.
- breeding technologies
Aircraft landing gear market participants focus on manufacturing light aircraft landing gear without compromising on quality.
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- Japan
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The report is a compilation of first-hand information, qualitative and quantitative assessment from industry analysts, input from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of major market trends, macroeconomic indicators, and driving factors along with market attractiveness based on segments. The report also maps the qualitative impact of various market factors across market segments and geographies.
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