Aircraft Landing Gear Market Fastest Growing Development Trend and Future Investments with Top Leading Brands: Liebherr-International AG, Circo International, Magellan Aerospace Corporation, Safran SA, Triumph Group, AAR Corp, and SPP Canada Aircraft

Global Aircraft Landing Gear Market Overview:

The improvement of global economic conditions has led to a steady increase in air traffic in recent years. This has driven demand for aircraft, resulting in the growth of the aircraft landing gear market. The landing gear supports the entire weight of the aircraft during landing, take-off, and parking and it varies according to the platform. For snow, skis type of landing gears is used, for water, pontoon type of landing gears is preferred, whereas, for ground, retractable wheels landing gears are used. The low-cost carriers, which operate in short routes widely prefer narrow-body aircraft. For this reason, narrow-body aircraft are expected to dominate the aircraft type segment during the forecast period. On the other hand, wide-body aircraft are used to connect international destinations. According to the application, commercial aviation dominates the market for aircraft landing gear. However, military aviation is expected to experience significant growth during the forecast period. Depending on the type of wing, the rotating wing is expected to grow faster due to its increasing use in military helicopters.

Global Aircraft Landing Gear Market Size:

According to Research Cosmos, The Global Aircraft Landing Gear Market Was Valued 9.51 Billion USD in 2016 and this value projected to reach USD 13.05 Billion by 2021 growing at a significant CAGR of 5.5 % during 2016 to 2021.

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Drivers and Restraints:

The civil aviation sector is expected to experience significant growth because of increased generation of next-generation aircraft. Improvements in global economic conditions have led to an increase in passenger air traffic worldwide. There has been a sharp increase in the number of commercial aircraft to meet the growing demand for air travel. It is expected that this growth in the number of commercial aircraft will boost the demand for commercial landing gear. Aircraft manufacturers now use lightweight materials, electronic technologies and innovative new solutions to optimize the overall performance of the aircraft at the time of landing and reduce aircraft downtime. These new systems require a lower degree of maintenance than their traditional counterparts. It is expected that the growing need for more environmentally friendly and fuel-efficient commercial aircraft to replace older aircraft will stimulate the industry over the next eight years. The global commercial aircraft landing gear industry is expanding. Cutting-edge control systems increasingly replace manually operated hydraulic systems as well as mechanical systems. In addition, competition among established operators in the value chain is increasing significantly. The world industry is changing according to the evolution of the world economy. However, challenges such as rising energy costs, expensive raw materials and inflation of the US dollar are likely to challenge the growth of the industry soon. To overcome these barriers, several value chain actors, from equipment suppliers to suppliers of components and raw materials, have begun to develop new business processes to take advantage of the rapid globalization of the sector.

Geographical segmentation:

Based on regions, North America is expected to be an important revenue generating region in the global aircraft landing gear market. The increase in military modernization, such as the acquisition of unmanned aerial vehicles and advanced military aircraft, is expected to increase demand for the North American landing gear market during the forecast period. Europe is expected to grow relatively fast soon. In Asia-Pacific, China and India are expected to experience significant growth during the forecast period. It is expected that the emerging middle classes and the growing disposable income in this region will increase the demand for aircraft in the Asia-Pacific region, which will result in the growth of the landing gear market in this region.

Liebherr-International AG, Circo International, Inc., Magellan Aerospace Corporation, United Technologies Corporation, Safran SA, Héroux-Devtek Inc., Triumph Group Inc., AAR Corp. GKN Aerospace Services Ltd. and SPP Canada Aircraft, Inc., are among the major players of the market.

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The scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook on the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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