Summary
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., Magellan Aerospace Corporation, SPP Canada Aircraft Inc., Hawker Pacific Aerospace, Revima Group, Meggitt PLC, Parker-Hannifin Corporation, Crane Co. and Moog Inc.
The global aircraft landing gear market grew from $11.77 billion in 2022 to $12.97 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft landing gear market is expected to grow to $18.48 billion in 2027 at a CAGR of 9.3%.
The aircraft landing gear market consists of sales of tricycle, tail-wheel (conventional), pontoons, and skis landing gears.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft landing gear is the undercarriage of an aircraft that 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.
North America was the largest region in the aircraft landing gear market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft landing gear include main landing gear and nose landing gear.The main landing gear is 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 wheels 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.
The increasing procurement of modern generation aircraft is expected to propel the growth of the aircraft landing gear market.Due to increasing demand for commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear is increasing, which is expected to drive the aircraft landing gear market.
For instance, in July 2021, a 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 aircraft is driving the growth of the aircraft landing market.
Technological advancements in the aircraft landing gear are the key trend being followed by the companies operating in the market.Companies are focusing on manufacturing lighter landing gears with lower complexity.
For instance, in April 2021, a US-based electric airplane company Metro Hop showcased its concept of 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 a lower takeoff weight, leaving capacity for more passengers or cargo.
In August 2021, The Precision Aviation Group, Inc., 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 on 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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft landing gear market research report is one of a series of new reports that provides aircraft landing gear market statistics, including aircraft landing gear industry global market size, regional shares, competitors with aircraft landing gear market share, detailed aircraft landing gear market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft landing gear industry. This aircraft landing gear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
