The Aircraft Landing gear market size is projected to grow from USD 7.1 Billion in 2022 to USD 9.4 Billion by 2027, at a CAGR of 5.7 % from 2022 to 2027
NEW YORK, Dec. 20, 2022 /PRNewswire/ —
The Aircraft Landing gear market size is projected to grow from USD 7.1 Billion in 2022 to USD 9.4 Billion by 2027, at a CAGR of 5.7 % from 2022 to 2027. The increase in global air traffic and the surge in new aircraft deliveries are the primary factors driving the growth of the aircraft landing gear market. Furthermore, the demand for advanced aviation landing gear onboard new aircraft is boosting the adoption of aircraft landing gear, which reduces weight and decreases end-user operating and maintenance costs.
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Actuation System is expected to account for the largest share in 2022
Based on Sub-System, the actuation system segment are projected to lead the aircraft landing gear market during the forecast period.Manufacturers of aircraft landing gear are creating advanced components that will lower total aircraft weight while enhancing overall efficiency, influencing market growth for aircraft landing gear.
The increasing regulations that attempt to enhance the safety features provided by aircraft and standardize the functions delivered by certain types of aircraft are anticipated to be the driving force behind fleet modernization initiatives.
The Main Landing Gear is projected to dominate the market share in the By Type segment during the forecast period
Based on Type, the main landing gear segment is projected to dominate the market share during the forecast period.The market is further segmented into main and nose landing gear.
The demand is influenced by the rapidly increasing of the passenger travel is a growing number of deliveries to meet the need for it.The primary purpose of the main landing gear is to support and equally distribute the weight of the aircraft while it is on ground through the wheels attached to it.
With increasing size of the aircrafts in order to increase load carrying capacity, the main landing gear segment is set to witness a significant growth during the forecasted period.
The fixed wing is projected to dominate market share in the platform segment during the forecast period
Based on platform, the fixed wing segment is projected to dominate the market share during the forecast period.Rapid growth in global passenger traffic is expected to increase demand for fixed-wing aircraft in both the commercial and general aviation sectors, resulting in a simultaneous need for aircraft landing gear for advanced aircraft.
Second, manufacturers are developing advanced aircraft landing gear to replace heavy, traditional aircraft components.
The OEM segment is projected to lead aircraft landing gear market during the forecast period
Based on End User, the OEM segment is projected to lead the aircraft landing gear market during the forecast period.The OEM section of the market is driven by the continuous fleet expansion projects of numerous end users, including airlines and military operators.
Several airlines are expanding their fleets by investing in lightweight and fuel-efficient aircraft.
North America is expected to account for the largest market share in 2022
The aircraft landing gear market industry has been studied in North America, Europe, Asia Pacific, Middle East, Latin America and Africa.North America accounted for the largest market share in 2022, and it is also projected to witness the highest CAGR during the forecast period.
The presence of major players, OEMs, and component manufacturers are some of the factors projected to drive the North American aviation landing gear market. Additionally, the growing need for lightweight aircraft for civil and commercial purposes, as well as their increasing utility in the defence carrying sector for sustained transport and surveillance, are factors affecting market expansion in North America.
The break-up of the profile of primary participants in the aircraft landing gear market:
â€¢ By Company Type: Tier 1 â€” 55%, Tier 2 â€” 25%, and Tier 3 â€” 20%
â€¢ By Designation: C Level â€” 50%, Director Level â€” 25%, Others-25%
â€¢ By Region: North America â€” 45%, Europe â€” 20%, Asia Pacific â€” 20%, Middle East â€” 5%, Africa â€” 5%, and Latin America â€” 5%
Prominent companies include Collins Aerospace (U.S.), Parker-Hannifin Corporation (U.S.), Safran S.A. (France), Eaton Corporation Plc (Ireland), Liebherr-International Deutschland GmbH (Switzerland), Crane Co. (U.S.), Triumph Group, Inc. (U.S.), Moog Inc. (U.S.), GKN Aerospace (U.K.), and Beaver Aerospace & Defense, Inc. (U.S.).
The report segments the Aircraft Landing Gear Market based on Sub-System, Type, End User, Platform, and Region.Based on Sub-System, the market is segmented into Actuation, Braking, Steering and Others.
Based on Type, the market is segmented into Main Landing Gear and Nose Landing Gear.Based on End User, the aircraft landing gear market is segmented into OEM and Aftermarket.
Based on Platform, the market is segmented into Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles and Advanced Air Mobility Solutions.The aircraft landing gear market has been studied for North America, Europe, Asia Pacific, Middle East, Africa and Latin America.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft landing gear market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the aircraft landing gear market. Competitive analysis of upcoming startups in the aircraft landing gear market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft landing gear market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
â€¢ Market Penetration: Comprehensive information on aircraft landing gear offered by the top players in the market
â€¢ Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aircraft landing gear market
â€¢ Market Development: Comprehensive information about lucrative markets â€” the report analyses the aircraft landing gear market across varied regions
â€¢ Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft landing gear market
â€¢ Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the aircraft landing gear market
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