Aircraft Gearbox Market to Gain Higher Momentum owing to Increasing Air Travel and Growing Demand for More Electric Aircraft (MEA)

Market Scope & Overview 2023

The aircraft gearbox market was valued at USD 3.21 billion in 2022, and it is projected to reach USD 5.51 billion by 2030, with a compound annual growth rate (CAGR) of 7.0% during the forecast period from 2023 to 2030, as reported by SNS Insider.

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The Major Key Company Profiles included in Aircraft Gearbox market study are:

Liebherr
Safran
Triumph Group
Northstar Aerospace
CEF Industries, LLC
AERO GEARBOX INTERNATIONAL
AERO GEAR
SKF
GE Aviation
United Technologies
Avion Corporation

An aircraft gearbox is a crucial component found in aircraft engines, particularly in turboprop and turboshaft engines. Its primary function is to transmit power from the engine to various aircraft systems, such as the propellers or rotor systems. The gearbox plays a critical role in converting the high-speed rotation of the engine shaft into the appropriate speed and torque required for efficient operation of these systems.

Market Analysis

The aircraft gearbox market holds promising prospects for the future, driven by several factors that contribute to its growth and development. The global air travel industry has witnessed consistent growth over the years, and this trend is expected to continue in the foreseeable future. As more people travel by air, airlines are expanding their fleets and investing in new aircraft. This creates a demand for advanced and reliable gearbox systems to ensure smooth operations and enhanced safety.

Impact of Recession

A recession poses significant challenges for the aircraft gearbox market, impacting both manufacturers and customers. Reduced air travel, delayed or canceled aircraft orders, cost reduction measures, and supply chain disruptions are among the primary effects. However, opportunities may arise in the retrofit and upgrade segment as airlines focus on optimizing their existing fleets. To navigate through a recession successfully, aircraft gearbox manufacturers must remain agile, adapt their strategies, and prioritize innovation to meet the changing demands of the industry.

Segmentation Analysis

As the aircraft industry continues to evolve, the importance of efficient and reliable gearbox systems becomes increasingly evident. In this context, the Engine Segment and Gears Segment emerge as the frontrunners in the aircraft gearbox market. The Engine Segment's dominance is propelled by advancements in engine technologies and the need for specialized gearboxes, while the Gears Segment benefits from gear system innovations and the growing demand for quieter and more efficient aircraft. With their unique contributions to the industry, these segments are set to shape the future of aircraft gearbox development and dominate the market in the coming years.

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The Aircraft Gearbox Market Segments and Sub-Segments are Listed Below:

By Application

Engine
Airframe

By Type

Accessory
Reduction
Actuation
Tail Rotor
Auxiliary Power Unit
Others

By Component

Gear
Housing
Bearings
Others

By platform

Civil
military

By End User

OEM
Aftermarket
By Platform
Civil
Military

Regional Status & Analysis

One of the primary factors fueling the Asia Pacific region's dominance in the aircraft gearbox market is the rapid expansion of its commercial and defense aircraft fleet. Countries like China and India have witnessed exponential growth in air travel, leading to substantial investments in the procurement of new aircraft. As a result, airlines and defense forces in the region are actively upgrading their fleets with the latest models, driving the demand for advanced aircraft gearboxes.

Conclusion

The market holds promising prospects for the future due to factors such as increasing air travel, technological advancements, and the growing demand for more electric aircraft, MRO services, defense sector investments, and the expansion of aviation in emerging markets.

Frequently Asked Questions/ Key Reasons to Purchase this Report

>What is the projected outlook for aircraft gearbox market growth?
Ans- The market is projected to exceed USD 5.51 billion by the year 2030.

>What are the major factors influencing the aircraft gearbox market?
Ans- As MEA adoption continues to rise, the demand for advanced gearboxes tailored to electric propulsion systems will increase.

>Who are the leading players in the aircraft gearbox market?
Ans- Liebherr, Safran, GE Aviation, United Technologies, CEF Industries, LLC, AERO GEARBOX INTERNATIONAL, Triumph Group, Northstar Aerospace, AERO GEAR, SKF, Avion Corporation.

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Table of Contents - Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Global Aircraft Gearbox Market, By Application
9. Global Aircraft Gearbox Market, By Type
10. Global Aircraft Gearbox Market, By Component
11. Global Aircraft Gearbox Market, By Platform
12. Global Aircraft Gearbox Market, By end-user
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

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