Aircraft Landing Gear Market Size & Share Forecasted to Reach USD $11.39 Billion by 2030, with 6.4% CAGR Rise

According to the research report, the global aircraft landing gear market was valued at USD 6.69 billion in 2021 and is expected to reach USD 11.39 Billion by 2030, growing at a CAGR of 6.4% during the forecast period.

The growing number of airplane deliveries on account of growing passenger traffic and upgrades in an existing airplane system, coupled with increasing technological developments to improve the performance and efficiency of airplanes, are the significant factors that fuelled the growth outlook of the global industry.

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Key Manufacturers in the Global Market Are:

Market participants such as AAR, Eaton Corporation, Circor International, GKN Aerospace, Hawker Pacific Aerospace, Honeywell International, Heroux-Devtek, Inc., Liebherr Group, Magellan Aerospace, Safran, Triumph Group, United Technologies, SPP Canada airplane, and UTC Aerospace Systems are some of the key players operating in the global market. For instance, in March 2022, Saudi Aircraft Accessories and Components Company (AACC) signed an agreement with Safran Landing to expand its services.

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The industry is gaining massive traction across the wide-ranging end-use application in the aerospace & defense sector owing to its significance such as providing a better suspension system during take-off and landing, as well as this effective mechanism reducing the impact loads transmitted to the airline by dissipating the kinetic energy compared to other forms of tools. This further contributes to the high demand for the product as an integral component in the aerospace & defense sector, thereby presenting a lucrative prospect for industry growth over the projected period.

Based on the sub-system, the actuation system segment is leading the global industry and is anticipated to lead the industry over the forecast period. The gradual surge in investments into technologies such as additive manufacturing for down panels and other seat components to reduce the inclusive weight and cost of manufacturing is projected to influence the development of a lightweight actuation system and airplane.

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In recent years, airlines and the airplane sector have strongly emphasized intelligent building fleets that offer better network flexibility and increased capability while reducing risk and enhancing efficiency and sustainability. Thus, the technologically-advanced airplane gear is an effective solution to be activated and retracted using a more localized and electrical solution, which drives the industry growth worldwide. Furthermore, increasing airplane deliveries due to growing passenger traffic will create a lucrative market growth during the forecast period. For instance, according to Airbus estimates, it is anticipated that total commercial airplane deliveries are totaled 37,390 units by 2037, representing growth from 33,700 units in 2016.

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Polaris market research has segmented the aircraft landing gear market report on the basis of type, sub-system, aircraft type, end-user, and region:

Aircraft Landing Gear, Type Outlook (Revenue - USD Billion, 2018 - 2030)

Main Gear
Nose Gear

Aircraft Landing Gear, Sub-system Outlook (Revenue - USD Billion, 2018 - 2030)

Actuation System
Steering System
Brake System
Others

Aircraft Landing Gear, Aircraft Type Outlook (Revenue - USD Billion, 2018 - 2030)

Fixed Wing
Rotary Wing

Aircraft Landing Gear, End User Outlook (Revenue - USD Billion, 2018 - 2030)

OEM
Aftermarket

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