Intensifying Demand and Supply of Commercial Aircraft Augmenting the Aircraft Gearbox Market

The aircraft gearbox is a component of the transmission system uses along with the shafts to control the rotational speed of the aircraft. The Global aircraft gearbox market is anticipated to grow at a lucrative CAGR growth rate in the forthcoming years on account of increasing demand increasing order and supply of aircraft along with the military and commercial sectors. Further, the technological upgradations in the aircraft functioning and components such as energy-efficient engines, lightweight air components have been fueling the market growth.

According to MarkNtel Advisors' market research report "Global Aircraft Gearbox Market Analysis, 2020", the market size of Aircraft Gearbox Markets across the globe is set to surge at a CAGR of around 5.5% during 2020-25. The increasing demand for the supply of new aircraft in emerging economies such as India, China, and some Middle-East countries is expected to proliferate the demand for gearboxes in the upcoming years.
For instance, the Indian airlines have planned to buy 1,000 new airplanes by 2026, among which Vistara, Air India, Air Asia, GoAir, IndiGo, and Spice Jet would be the major contributors with 60, 11, 60, 119, 448, and 157 order respectively. Moreover, according to the Airbus analysis, around 39,210 new aircrafts units would be delivered to various airlines across the globe by 2035.

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Civil Aircraft Segment to Maintain Its Dominance During the Forthcoming Years
Based on the type of aircraft, the civil aircraft segment is projected to grow at the highest CAGR during through 2025, as revealed by MarkNtel Advisors'market research report on "Global Aircraft Gearbox Market Analysis, 2020". In the past few years, the civil segment has witnessed the most significant rise in the volume of passenger traffic and the number of aviation fleets per day. The rise in the disposable income of the population especially in the developing nations, in addition to the increasing number of middle-class families across the globe, is the key factor behind the growth of the segment.

Asia Pacific Region to Expedite at the Fastest Growth Rate
Based on the geographical segmentation, the North America region projected to hold the largest market size in the past few years. The region is anticipated to remain the largest market for commercial aircraft, due to the steadily growing aviation sector in the US. However, the Asia-Pacific region has been projected to appear as the fastest growing market in the global aviation gearbox market during 2020-25.

According to MarkNtel Advisors, the key market players in the Aircraft Gearbox Markets industry include Safran, Liebherr, United Technologies Corporation, Rexnord Aerospace, Triumph Group, PBS Velka Bites, CEF Industries, Aero Gear, and Others.
The aircraft gearbox manufacturers have adopted agreements, contacts, and product innovation as their key strategy to expand their business and attain business growth. For instance, the US Department of Defense Logistics Agency extended an offer of USD 2.46 billion to USD4.93 billion, for one of the leading manufacturer and supplier of aircraft components, United Technologies Corp. in 2018. As per the contract, the company has to supply depot-level repairable and consumable parts such as aircraft wheels and brakes, cockpit controls, drive shafts, couplings, engine fuel controls, engine start systems, landing gears, turbine engine blades and vanes, and many others to the US Air Force. The supply has to completed by the year 2023.

"Global Aircraft Gearbox Market Analysis, 2020" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Aircraft Gearbox Markets providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:
1. By Gearbox Type (Accessory Gearbox, Reduction Gearbox, Actuation Gearbox, Tail Rotor Gearbox, Auxiliary Power Unit Gearbox, Others)
2. By Aircraft Type (Civil Aircraft, Military Aircraft)
3. By End User (Aftermarket, OEM)
4. By Application (Engine, Airframe)
5. By Component (Gear, Housing, Bearings, Others)
6. By Region (North America, South America, Europe, the Middle East, and Africa, Asia- Pacific)
7. By Country (US, Canada, Mexico, Brazil, Germany, Italy, France, UK, Russia, Saudi-Arabia, UAE, Qatar, China, India, Japan, Australia)
8. By Company (Safran, Liebherr, United Technologies Corporation, Rexnord Aerospace, Triumph Group, PBS Velka Bites, CEF Industries, Aero Gear, and Others)

Key questions answered in the study
1. What are the current and future trends of the Global Aircraft Gearbox Markets industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Aircraft Gearbox Markets industry?
5. What are the customer orientation, purchase behavior, and expectations from the Aircraft Gearbox Markets suppliers across various regions?

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We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), Product Development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
We understand the growing need of our clients and thus focus on emerging industries to provide our services which can fulfill their need for assessing the current and future industry potential, identification of white spaces & hotspots and venturing into new geographies or business segments.

This release was published on openPR.