Aerospace Landing Gear Market in Rotary Wing Segment is Expected Grow Significantly at Around 6.8% CAGR From 2018 To 2024| Key Players are Safran Landing Systems, AAR Corporation, GKN Aerospace Services, Liebherr Group, Triumph Group, and Eaton

The global aerospace landing gear market has experienced augmented growth in years, as higher consumer spending combined with the rising frequency of air travel has amplified the production of new aircrafts. Rotary wing segment will grow significantly at around 6.8% CAGR from 2018 to 2024. This can be credited to the benefits offered including vertical take-off and landing operations, travel in any direction, and travel to areas with space constraints. Increasing adoption of helicopters for military applications including combat and non-combat operations further supports the segment growth.

Innovations in the field of light-weight and composite materials for manufacturing the products have permitted the integration of components that reduce the weight of an aircraft, improving the fuel economy. Directives put forth by governing bodies to regularly improve the safety performance of existing airplanes will certainly bolster the aerospace landing gear market, which boasted of a revenue of around USD 14 billion in 2017.

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Global aerospace landing gear market from tri-cycle arrangement accounted for 12,221 units in 2017 and is expected to continue its dominance till 2024 owing to several benefits offered including prevention of nose over while braking at higher landing speeds, enhanced visibility from flight deck, easier maneuvering & landing, and prevention of aircraft ground looping. The reduced weight of the system along with lower drag compared to its counterparts further strengthens the volume share till 2024.

Industry participants are continuously investing in R&D for developing efficient and modernized aircraft systems for increasing the overall aircraft life and minimize the risk of accidents and service failures. The usage of light weight materials for the construction of aircraft components and landing gears are further strengthening the aerospace landing gear market till 2024.

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Speaking further, regional aircrafts have tremendously contributed to the development of the aerospace landing gear market and many U.S. airlines such as South West, United Airlines, have been ordering large number of new aircrafts. North American companies have also received interest from other countries to purchase regional jets to fortify their domestic air traffic capacities.

Accentuating the fact, a U.S. airline start-up has formed an agreement with Airbus to buy 60 new A220 aircrafts, indicating the revenue prospects of the aerospace landing gear market in North America, which is also home to Boeing, the leading aircraft manufacturing company based in Chicago, U.S. The region has several airline businesses serving to a variety of customers and majority of the cities are interconnected by air transport facilities

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Asia Pacific aerospace landing gear market will grow significantly at around 5.7% till 20024 owing to increasing air passenger traffic. For instance, according to the Association of Asia Pacific Airlines (AAPA), multiple airlines spread across the region carried over 1,214 million passengers and 20 million cargo in 2017. The increasing population and decreasing air ticket fares coupled with proliferating tourism sector will boost the regional growth till 2024.

Demonstrating the massive earning potential of the aerospace landing gear market from the OEM segment, at a recent airshow Boeing reportedly won orders for 673 new aircrafts in total, worth nearly USD 100 billion. In addition, Airbus revealed it had agreed upon delivery of 431 new commercial aircrafts that would be built over the next few years. Evidently, the growing popularity of airlines and the need for economically improved operations have spurred investments towards extending the fleet size.

The prominent players in the aerospace landing gear marketplace include Safran Landing Systems, AAR Corporation, GKN Aerospace Services, Liebherr Group, Triumph Group, and Eaton Corporation. Other notable players include Magellan Aerospace Corporation, Heroux-Devtek Inc, SPP Canada Aircraft, Whippany Actuation Systems, CIRCOR Aerospace UTC Aerospace Systems, and Aerospace Turbine Rotables.

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