Aerospace Landing Gear Market Statistics, Trends, Demand, Size by 2024 Key Players like UTC Aerospace Systems, AAR Corp, Safran Landing System, CIRCOR Aerospace, Magellan Aerospace, Heroux-Devtek, Liebherr Group, GKN Aerospace Services, Triumph Group, SPP
Commercial aircraft leads aerospace landing gear market share and will witness substantial growth in aerospace industry. Growing annual spending and rising disposable income in emerging countries is enhancing air passenger traffic resulting in increased demand for aircraft deliveries. According to CAPA (Confederation of Asian and Pacific Accountants), aircraft deliveries have increased constantly over the past seven years. In 2017, the commercial airplane fleet increased by over 4% as compared to 2016 and accounted for around 31,600 in-service aircrafts. Continuous rise in aircraft fleets will boost industry growth through projected timeline.
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Landing systems are installed in airplanes to support aircraft fuselage during take-off, ground operations and taxiing. These are attached with aircraft primary structure with their arrangement depending on its design and intended use. The system comprises of retraction mechanism, brakes, shock absorbers and warning devices ensuring passenger safety. Regulatory including FAA and CASA provide instructions regarding system installation, working and maintenance.
Growth in air passengers in conjunction with surge in aircraft fleet will boost aerospace landing gear market during forecast period. Rising preference towards air travel with higher safety and less travel duration is continuously expanding aviation industry.
Airplane manufacturers including Airbus, Boeing and Bombardier are strengthening their production facility to meet previous backlog and growing demand. For instance, in 2016, Bombardier had over 100 Q400 and CRJ series aircraft backlog.
Further, surge in domestic and international tourism sector, low transport freight and globalization in business operations will contribute towards aerospace landing gear market growth.
North America has major share in aerospace landing gear market owing to large aircraft fleets supported by presence of major aircraft manufacturers and MRO players. Industry players have undergone capacity expansion to meet increasing product demand from airlines.
Asia Pacific led by China, India and South Korea will foresee growth with rising air passengers, low air fare and increasing demand for defense aircrafts.
Major industry players in aerospace landing gear market include UTC Aerospace Systems, AAR Corp, Safran Landing System, CIRCOR Aerospace, Magellan Aerospace, Heroux-Devtek, Liebherr Group, GKN Aerospace Services, Triumph Group, SPP Canada Aircraft, Whippany Actuation System, Aerospace Turbine Rotables, Eaton Corporation. Participants are constantly focusing on improving their manufacturing facility offering cost benefits. For instance, in 2017, Liebherr is working on 3D printing system to manufacture landing gear systems.
Main gear segment leads aerospace landing gear market owing to its use to carry majority of overall aircraft weight. Major OEMs are adopting lightweight materials to reduce fuel consumption. Utilization of innovative materials such as composites and installation of safety systems including wireless sensor and RFID to monitor landing system health will fuel product demand. Tail/Nose aerospace landing gear market will witness healthy growth with its use for aircraft taxiing and steering.
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OEM dominates industry owing to installation of systems during airplane fabrication to support weight and major operations. Industry players are strengthening their supply chain to enhance consumer base, and low-cost material sourcing. Growth in regional and commercial fleets to serve passengers will substantiate business growth. Aftermarket aerospace landing gear market segment will grow rapidly with mandatory maintenance and replacement requirement as specified by the manufacturers.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Aerospace Landing Gear Industry Insights
Chapter 4. Aerospace Landing Gear Market, By Position
Chapter 5. Aerospace Landing Gear Market, By Arrangement
Chapter 6. Aerospace Landing Gear Market, By Aircraft
Chapter 7. Aerospace Landing Gear Market, By Distribution Channel
Chapter 8. Aerospace Landing Gear Market, By Region
Chapter 9. Company Profiles
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Global Commercial Aerospace Landing Gear Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
This report focuses on the Commercial Aerospace Landing Gear in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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