Aircraft Landing Gear Market to 2027 - Global Analysis and Forecasts by Aircraft Type (Airplanes and Helicopters); Gear Arrangement (Tricycle, Tandem, and Tail Wheel); Type (Main and Nose); End-User (Commercial and Armed Forces)
Publication Month: Sep 2019 | Report Code: TIPAD00002627 | No. of Pages: 162 | Category: Aerospace and Defense | Status: Published
The aircraft landing gear market was valued at US$ 12.31 billion in 2019 and is projected to reach US$ 17.37 billion by 2027. The Aircraft landing gear market is expected to grow at a CAGR of 4.4% during the forecast period of 2020 to 2027.
The global aircraft manufacturing and aftermarket industry is experiencing a substantial growth due to increasing demand of commercial and cargo aircraft worldwide. The rising disposable incomes in developing countries and increasing trend of e-commerce are some of the factors that are driving the demand of these aircraft. The inclining curve of air travel is constantly climbing across geographies, which is leading to the increased production of aircraft from manufacturers such as Airbus and Boeing. On a global scenario, commercial airplanes are anticipated to maintain a continuous growth over the coming years, regardless of various challenges faced by the commercial airlines such as uncertain fuel prices and other regulatory changes in various countries. In addition to this, the increasing investments in defense equipment across countries due to uncertain geo-political tensions are expected to drive the demand of military aircraft during the forecast period of 2019 to 2027. All these factors and trends are anticipated to fuel the demand for aircraft landing gear in various geographies and offer future growth opportunities for market players operating in the global aircraft landing gear market. Landing gear is one of the crucial subsystems of an aircraft that supports the entire weight of an aircraft during landing, take-off, and other ground operations. The type and design of a landing gear system depends on the aircraft type and its potential use. A typical landing gear system consists of various components such as brakes, controls, shock absorbers, retraction systems, and warning devices, among many others. This market study covers various types of aircraft landing gears such as tricycle, tandem, and tail wheel.
The market for aircraft landing gear has been segmented on the basis of aircraft type, gear arrangement, type, end-user, and geography. Based on aircraft type, the market has been segmented into airplanes and helicopters. Airplanes segment represented the largest share of the overall market throughout the forecast period, however helicopters segment is expected to be the fastest growing. Based on gear arrangement, the aircraft landing gear market has been segmented into tricycle, tandem, and tail wheel. In 2019, tricycle contributed a substantial share in the global aircraft landing gear market followed by tail wheel and tandem respectively. The market is further segmented on the basis of type into main and nose type; and on the basis of end-user into commercial and armed forces. During the forecast period, the growing demand from commercial aircraft manufacturers is expected to be drive the market for aircraft landing gears.
Lucrative Regions in Aircraft Landing Gear Market
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Aircraft Landing Gear Market Insights
Positive growth outlook of the global aviation industry is expected to boost the aircraft landing gear demand
Aviation industry is quite dynamic in nature as it adapts quickly with the ever-changing market forces and customer expectations. The macroeconomic trends across geographies shape the overall growth outlook of aviation industry. The three major macro factors that are affecting the growth of global aviation industry include rising demand of air travel, regulatory and infrastructure developments, and technological advancements in aircraft. According to Airbus’s Aviation Industry outlook- 2018 to 2037, the long term growth potential of global aviation industry is quite lucrative owing to the fact that the global air traffic has grown 2.3 times since the year 2000 and it is expected to get doubled in the coming fifteen years. Airbus’s forecast estimates that the air traffic will grow at a rate of 4.4% per annum in the next 20 years.
Aircraft Type -Based Market Insights
The global aircraft landing gear market is bifurcated on basis of aircraft type as helicopters and airplanes. Since the past decade, the global aviation sector is witnessing tremendous growth both in terms of volume and revenues. This has resulted in significantly increase in number of aircraft. In the current aviation scenario, the number of fixed wing aircraft or airplanes are much higher than rotary wing aircraft or helicopters. The procurement trend of fixed wing aircraft is anticipated to be exponential in the coming years, which is posing a potential opportunity for the landing gear developers operating worldwide.
Aircraft landing gear Market, by Aircraft Type - 2019 and 2027
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Gear Arrangement -Based Market Insights
In our study, the global aircraft landing gear market has been segmented on the basis of type into main landing and nose landing gear. A landing gear system is considered to be one of the most critical subsystems of an aircraft and therefore the design and development of it requires precarious and meticulous expertise. Owing to the high criticality and the sizeable influence on the aircraft structural configuration of this subsystem, landing gears are usually configured along with the aircraft structure.
Type -Based Market Insights
The global aircraft landing gear market has been segmented on the basis of gear arrangement into tail wheel, tandem, and tri-cycle. The landing gears of aircraft are used for supporting the entire weight of aircraft during the landing and ground-based operations. The type of gear to be used in an aircraft is determined by evaluation of aircraft design and the intended use of the aircraft. A majority of the landing gears are equipped with wheels for enabling operations on hard surfaces such as airport runways.
End-User -Based Market Insights
The global aircraft landing gear market based on end-user has been segmented into commercial and armed forces. The increasing count of aircraft fleet and rising middle class sensing capabilities are expected to increase the demand for new flights. The snowballing production of the aircrafts is expected to have a noteworthy impact on the aircraft landing gears market. Further, rise in the production of military aircrafts as a result of increase in the defense expenditures by Governments of various countries is also anticipated to have a positive impact on the aircraft landing gear market.
Strategic Insights
Players operating in the Aircraft landing gear market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the aircraft landing gear market. A few developments by key players of the aircraft landing gear market are:
In September 2019, The Singaporean unit of the Safran Landing Systems has bagged a contract to renovate the landing gear of six A330-200 aircraft of the national carrier, SriLankan Airlines. This tender was awarded for the period starting from August 1, 2019 to July 31, 2020.
In April 2019, Triumph Group Inc. won contract by The Boeing Company for supplying critical hydraulic system components for the MQ-25 unmanned aerial refueling program. This contract supports the U.S. Navy's first unmanned aerial refueling program. Under this contract, Triumph Integrated Systems is anticipated to deliver components for the hydraulic systems utilized in the landing gear and the aircraft's arresting systems.
Aircraft Landing Gear Market – by Aircraft Type
- Airplanes
- Helicopters
Aircraft Landing Gear Market – by Gear Arrangement
- Tricycle
- Tandem
- Tail Wheel
Aircraft Landing Gear Market – by Type
- Main
- Nose
Aircraft Landing Gear Market – by End-User
- Commercial
- Armed Forces
Aircraft Landing Gear Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- Rest of APAC
- MEA
- Middle East
- Africa
- SAM
- Brazil
- Rest of SAM
Aircraft Landing Gear Market – Company Profiles
- AAR
- CIRCOR International, Inc
- Collins Aerospace
- GKN Aerospace Services Ltd.
- Héroux-Devtek.
- Liebherr Group
- Magellan Aerospace Corporation
- Safran S.A.
- Sumitomo Precision Products Co., Ltd
- Triumph Group
The List of Companies
- Safran S.A.
- Liebherr Group
- HéROUX-DEVTEK INC.
- CIRCOR International, INC.
- Collins Aerospace
- Sumitomo Precision Products Co., Ltd.
- GKN Aerospace Services Ltd.
- AAR CORP.
- Triumph Group Inc.
- Magellan Aerospace Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft landing gear market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global aircraft landing gear market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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