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The Worldwide Aircraft Landing Gears Industry is Projected to Reach $9.4 Billion by 2027: Need for Intelligent and Light Aircraft with Improved Light-Weighted Systems Drives Growth
Global Aircraft Landing Gears Market
Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Aircraft Landing Gears Market by Type (Main Landing Gear, Nose Landing Gear), Sub-System (Steering, Actuation, Braking), End User, Platform (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles, Advanced Air Mobility) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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.
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 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 the 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 the 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 the aircraft landing gear market during the forecast period
Based on End Users, 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, the 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.
Report Metrics:
Report Attribute | Details |
No. of Pages | 232 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $7.1 Billion |
Forecasted Market Value (USD) by 2027 | $9.4 Billion |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
Market Dynamics
Drivers
Increase in Aircraft Renewals and Deliveries
Need for Intelligent and Light Aircraft with Improved Light-Weighted Systems
Restraints
Regulatory Barriers Causing Restrictions for Market Entry
Low Aftermarket due to Long Lifespan of Landing Gear
Opportunities
New Materials and Technologies Used to Increase Efficiency
Aam Industry Expected to Witness Adoption in Coming Decade
Challenges
Manufacturing Challenges Faced by OEMs and Mro Organizations
Decrease in Aircraft Deliveries and Slower Pace in Meeting Backlogs
Companies Mentioned
Aequs Pvt. Ltd.
Aero Fluid Products
Apph Group
Beaver Aerospace & Defense, Inc.
Circor Aerospace Products Group
Collins Aerospace
Crane Holdings, Co.
Eaton Corporation PLC
Gkn Aerospace Services Limited
Grove Aircraft Landing Gear Systems Inc.
Heroux-Devtek
Integral Aerospace
Liebherr
Magellan Aerospace Corporation
Mecaer Aviation Group
Moog, Inc.
Nmg Aerospace
Parker-Hannifin Corporation
Safran
Sumitomo Precision Products Co. Ltd.
Tactair
Tamagawa Seiki Co. Ltd.
Triumph Group, Inc.
Umbria Aerospace Systems
Whippany Actuation Systems
For more information about this report visit https://www.researchandmarkets.com/r/6xahqe-landing?w=12
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