Aircraft Landing Gear Market Analysis, Development, Revenue, Future Growth and Forecast by 2028

The global aircraft landing gear market size is projected to reach USD 18.66 billion by 2028, exhibiting a CAGR of 7.09% during the forecast period. Rapid development in air transport dynamics is set to emerge as the key factor driving the growth of this market, as per the new Fortune Business Insights™ report, titled "Aircraft Landing Gear Market Size, Share and Industry Analysis by Type (Nose Landing Gear and Main Landing Gear), By Platform (Fixed-Wing and Rotary-Wing), By Arrangement Type (Tail Wheel, Tandem, and Tri-cycle), By Component (Retraction system, Breaks and Wheels, Steering, and Others), By End User (OEM and Aftermarket), and Regional Forecast, 2021-2028". According to the International Civil Aviation Organization (ICAO), in 2019, the total number of air travelers across the globe was 4.3 billion, increasing by 6.4% from 2017 levels. The number of departures, the ICAO notes, rose by 3.5% in 2018, reaching 37.8 million. Introduction of low-cost airlines have significantly altered the world air transport dynamics, with low-cost carriers having estimated to transport 1.3 billion passengers in 2019. Growth in air travelers have increased the frequency of employment of aircrafts, necessitating effective and efficient maintenance of these massive machines. More importantly, they need to equipped with superior landing technologies to ensure safety of passengers and the crew, which is one of the leading aircraft landing gear market trends.

The report states that the market value stood at USD 10.69 billion in 2019. The other highlights of the report include:

Comprehensive analysis of the major drivers and restraints influencing the market;
In-depth study of the regional dynamics of the market;
Microscopic research into the key players operating in the market and evaluation of their strategies; and
Precise segmentation of the market and assessment of each individual segment.
Market Driver

Grave Safety Risks Posed by Conventional Landing Gear to Create New Growth Opportunities

Conventional landing gear, or tailwheels, consist of two wheels placed in a forward position relative to the center of gravity. They have been the most widely used landing gear in traditional airplanes and some older aircraft models and small airplanes still use them. However, these landing gear systems are extremely dangerous, posing grave risks to the safety of everyone aboard the aircraft. For example, tailwheel aircrafts are prone to a phenomenon known as "ground looping", which occurs when the tail of the aircraft bypasses the center of gravity, causing the pilot to lose directional control of the plane. Being smaller in size, tires attached to tailwheel units can drop into holes in the ground and cause the propeller to trip over. To counter these disadvantages, airliners are increasingly incorporating electrically-controlled landing gear and anti-skid brake management systems to enhance reliability, accuracy, and safety of the aircraft. This shift towards next-generation technologies is auguring well for the aircraft landing gear market growth.

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Regional Analysis

North America to Hold Lion's Share in the Market; Asia-Pacific to Showcase Impressive Growth

The market size in North America stood at USD 4.15 billion in 2018 and the region is foreseen to dominate the aircraft landing gear market share in the forthcoming years. The main reason attributable to the region's dominance is the presence of well-established OEMs that are making large investments in advanced aviation technologies and coming out with new-age solutions. In Asia-Pacific, the market is expected to grow at an impressive rate owing to the increasing delivery and sale of commercial and low-cost carriers in China and India.

Competitive Landscape

Exciting Collaborations to Infuse New Energy in the Market

The aircraft landing gear market report highlights that this market is poised to experience an exciting period of intense competition. This is because some of the leading companies are engaging in technological collaborations to diversify their offerings and deepen their hold on the market.

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Industry Developments:

January 2020: Collins Aerospace Systems teamed up with Magellan Aerospace Corporation under which Magellan will supply Collins nose landing gear units for the latter's B737 aircraft fleet. Valued at around CAD 52 million, the deal will involve delivery of titanium components from Magellan's Ontario facility.
January 2019: Liebherr-Aerospace announced that it had commenced the 3D printing of components under its partnership with Airbus. The German aircraft manufacturer will begin supplying nose landing gear brackets for the Airbus A350 XWB.
List of Top Players Covered in the Report:

AAR
Alaris Aerospace
CIRCOR International, Inc.
GKN Aerospace Services Ltd.
Hawker Pacific Aerospace
Héroux-Devtek Inc.
Liebherr-International AG
Magellan Aerospace Corporation
Safran SA
SPP Canada Aircraft, Inc.
Triumph Group, Inc.
UTC Aerospace Systems
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