Aircraft Gearbox Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product and End-User Industry

Aircraft Gearbox Market Outlook - 2027

The global aircraft gearbox market is experiencing a significant growth with increase in commercial & military aircraft fleet size. Aircraft gearbox is the component of transmission system placed along with shafts for changing rotational speed and driving the accessories essential for an operational engine. As per the data based on air traffic for last two decades, the air traffic has been increasing in the developing countries such as India, UAE, and China. The aviation sector is demanding high efficiency, lightweight aircraft fuel engines that deliver enhanced performance. Thus, development of aircraft engines with improved fuel efficiency and gearbox performance is expected to boost the growth of the global aircraft gearbox market.

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COVID-19 scenario analysis:
Aircraft gearbox companies are facing short-term operational issues due to supply chain constraints and lack of site access owing to the COVID-19 outbreak.

COVID-19 has forced governments to discontinue all assembly and manufacturing operations including in the aircraft industry.

The complete lockdown situation in several countries due to COVID-19 has directly impacted defense organizations to delay the procurement of aircraft gearboxes from the suppliers of the aircraft gearbox.

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The COVID-19 pandemic is exerting tremendous financial stress on the aircraft gearbox companies by increasing the inventory carrying cost of the aircraft gearbox.

The aircraft industry has witnessed the colossal decline in flight hours as a large number of international as well as domestic flights are getting cancelled all across the globe to curb the transmission of the COVID-19.

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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in use of aircraft gearbox in the defense sector of developing nations, increase in demand for geared turbofan aircraft engine having a gearbox between the fan such as Pratt & Whitney PW1000G, and introduction of lightweight gearboxes are some of the factors that drive the growth of the global aircraft gearbox market. However, engine limitations at high altitudes and requirement of high initial investment hinder the market growth. On the contrary, investment in R&D of open rotor engines and geared turbofan engines, and trend of fuel efficient and environment friendly vehicles are anticipated to provide lucrative opportunities for the market expansion.

The global aircraft gearbox market trends are as follows:

Increase in demand for geared turbofan aircraft engine having a gearbox between the fan
The geared turbofan is a type of turbofan aircraft engine with a gearbox between the fan and the low-pressure shaft. In addition, geared turbofan allows improvements in propulsive efficiency. Moreover, in 2016, Pratt & Whitney has invested in geared turbofan engines technology that reduces fuel consumption, emissions, and noise. Such investments are expected to offer opportunities for the growth of the global aircraft gearbox market.

Surge in use of aircraft gearbox in the defense sector of developing nations
There is a new demand for gearboxes for aircraft assembled in the developing nations. Moreover, increasing military aircraft upgrades, research & development of advanced military aircraft platforms, and the growing presence of major system and component manufacturers in developing nations are expected to boost the growth of the global aircraft gearbox market.

Key benefits of the report:

This study presents the analytical depiction of the global aircraft gearbox industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aircraft gearbox market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global aircraft gearbox market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global aircraft gearbox market analysis based on competitive intensity and how the competition will take shape in coming years.

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