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Aircraft Landing Gear Global Market Report 2022

·4-min read
ReportLinker
ReportLinker

Major players in the aircraft landing gear market are Safran, Collins Aerospace, Liebherr, Sumitomo Precision Products Co. Ltd, Triumph Group, AAR Corporation, CIRCOR International Inc, GKN Aerospace Services Ltd.

New York, June 02, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Landing Gear Global Market Report 2022" - https://www.reportlinker.com/p06282679/?utm_source=GNW
, Magellan Aerospace Corporation, SPP Canada Aircraft Inc, Hawker Pacific Aerospace, Revima Group, Meggitt PLC, Parker-Hannifin Corporation, Crane Co. and Moog Inc.

The global aurcraft landing gear market is expected to grow from $10.77 billion in 2021 to $11.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.34%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.06 billion in 2026 at a CAGR of 8.57%.

The aircraft landing gear market consists of sales of landing gear by entities (organizations, sole traders, and partnerships) that are used in both takeoff and landing in aircrafts.Aircraft landing gears is the undercarriage of an aircraft which supports the aircraft to take off, land, and taxi without any damage.

It generally consists of structural members, hydraulics, energy absorption components, brakes, wheels, and tires and provides direct control of the aircraft through the provisions of integrating supportive systems for the aircraft.

The main types of aircraft landing gears include main landing gear and nose landing gear.Main landing gear are used to absorb the impact energy of landings in order to reduce the loads delivered to the airframe.

Main landing gear refers to landing gear as the two or more large gear located close to the aircraft’s center of gravity.The main gear is located forward of the center of gravity, causing the tail to require support from a third wheel assembly.

The various aircraft types include fixed wing and rotary wing for end users including OEM and aftermarket.

North America was the largest region in the aircraft landing gear market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing procurement of modern generation aircrafts is expected to propel the growth of aircraft landing gear market.Due to increasing demand of commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear increases, which is expected to drive the aircraft landing gear market.

For instance, in July 2021, US based airline company, United Airlines placed orders for a combined 270 Airbus and Boeing narrow body jets, including 200 737 Max and 70 A321neos. Thus, the increasing procurement of modern generation aircrafts is driving the growth of the aircraft landing market.

Technological advancements in the aircraft landing gear is the key trend being followed by the companies operating in the market.Companies are focusing on manufacturing lighter landing gears with low complexities.

For instance, in April 2021, US based electric airplane company, Metro Hop showcased its concept Active Landing Gear with electric motors in each wheel.The new system is capable of shortening the takeoff and landing runs of electric airplanes.

The lower power requirements and less complexity ensure lower less takeoff weight, leaving capacity for more passengers or cargo.

In August 2021, The Precision Aviation Group Inc Company, a USA-based provider of products and value-added services to the worldwide aerospace and defense industry acquired Trace Aviation, Inc. for an undisclosed amount. The deal expands Precision Aviation’s landing gear MRO capabilities and significantly expands the products and services offerings to the existing customers of Precision Aviation. Trace Aviation, Inc. is a USA-based aviation company that focuses in the innovative exchange overhaul of landing gear components.

The countries covered in the aircraft landing gear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


Read the full report: https://www.reportlinker.com/p06282679/?utm_source=GNW

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