Press release
Commercial Aircraft Landing Gear Market Outlook 2024: Exclusive Report By The Business Research Company
Commercial Aircraft Landing Gear Market
The Business Research Company offers in-depth market insights through Commercial Aircraft Landing Gear Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial aircraft landing gear market size has grown strongly in recent years. It will grow from $9.31 billion in 2023 to $10.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to aging fleets, air travel growth, regulatory standards, regional expansion, consumer safety concerns.
The commercial aircraft landing gear market size is expected to see strong growth in the next few years. It will grow to $14.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to aircraft fleet expansion, fuel efficiency and environmental concerns, market shift towards wide-body aircraft, retrofit and maintenance demand, defense and cargo aircraft, increasing automation. Major trends in the forecast period include technological advancements, new aircraft models, 3d printing and additive manufacturing, lightweight materials, retractable landing gear, electric actuation.
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Market Segmentation:
The commercial aircraft landing gear market covered in this report is segmented -
1) By Gear Position: Main Landing, Nose Landing
2) By Aircraft Type: Fixed Wing, Rotary Wing
3) By End-User: Commercial, Armed Forces
Major Driver - Rising Global Aircraft Demand Propels Commercial Aircraft Landing Gear Market
The growing demand for aircraft is expected to propel the growth of the commercial aircraft landing gears market. Aviation provides a rapid global transportation network, fostering economic growth, job creation, and promoting international trade and tourism. The increased passenger and freight air transport demand have increased the purchase of new aircraft by air transportation and cargo service providers across the globe. The rapid growth in sales of aircraft is expected to boost the demand for landing gears, as they are a vital component in each aircraft. For instance, in January 2022, in a report published by Airbus, an aerospace corporation, achieved 611 deliveries in 2021, which is 8% higher than 566 deliveries in 2020. Therefore, increasing demand for aircraft is expected to boost demand for commercial aircraft landing gears during the forecast period.
Competitive Landscape:
Major companies operating in the commercial aircraft landing gear market report are AAR Corp., Circor Aerospace Inc., Heroux-Devtek Inc., Honeywell Aerospace, Liebherr-International AG, Safran Landing Systems, UTC Aerospace Systems, Triumph Group Inc., GKN Ltd., Magellan Aerospace Corporation, Aerospace Industrial Development Corporation, Sumitomo Precision Products Co. Ltd., Heroux-Devtek UK Ltd., Sumitomo Precision Products Co. Ltd., Parker-Hannifin Corporation, Meggitt plc, Circor International Inc., Whippany Actuation Systems, Young Poong Corporation, South Korea Aerospace Industries Ltd., Qingdao Beihai Shipbuilding Heavy Industry Co. Ltd., RENK AG, Lufthansa Technik Landing Gear Services UK, Safran Landing Systems, RTX Corporation, AVIC SAC Commercial Aircraft Landing Gear Co. Ltd., ShinMaywa Industries Ltd., Elbit Systems Ltd., Moog Inc., Senior Aerospace Weston
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Top Trend - Advanced Landing Gear Technologies Revolutionize The Commercial Aircraft Landing Gear Market
The advanced landing gear technologies are a key trend gaining popularity in the commercial aircraft landing gears market. The market is witnessing the implementation of advanced landing gear technologies to absorb and dissipate the kinetic energy of landing impact by enabling technologies such as retractable landing gear sub-systems, hydraulic systems, and controllers. With such technologies, landing gear aids commercial aircraft through a wheel braking and speed controlling system, that provides directional control of the aircraft. Major companies operating in the commercial aircraft landing gears market are focused on delivering technologically advanced solutions to strengthen their market position. For instance, in September 2023, UAVOS Inc., a US-based aircraft products and systems manufacturing company, announced its improved and modified primary landing gear to accommodate heavy-lift unmanned aircraft. The primary landing gear design integrates the most recent advancements in UAVOS production technology, such as the application of lightweight prepreg composite material and its lay-up procedures, which enhance the aircraft's durability and efficiency.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Aircraft Landing Gear Market Characteristics
3. Commercial Aircraft Landing Gear Market Trends And Strategies
4. Commercial Aircraft Landing Gear Market - Macro Economic Scenario
5. Commercial Aircraft Landing Gear Market Size And Growth
…..
27. Commercial Aircraft Landing Gear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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