Aircraft Landing Gear Market Size, Share, Growth, Trends, Industry Strategies And Forecast 2033

The aircraft landing gear market size has grown rapidly in recent years. It will grow from $13.31 billion in 2023 to $14.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increased adoption of lighter and robust landing gears, increased raw material costs, a rise in air travel, strong economic growth in emerging markets and an increased military spending.

The aircraft landing gear market size is expected to see rapid growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increase in passenger air traffic, growing urbanization and growing demand for new fighter jets in developing countries. Major trends in the forecast period include focus on 3d printed landing gears, focus on active landing gears, focus on new facility expansions, focus on developing new technological solutions, focus on mergers and acquisitions, focus on advanced landing gears, focus on partnerships and collaborations and focus on strategically investing to expand products portfolio.

Market Overview -
Aircraft landing gear is the undercarriage of an aircraft that supports the aircraft to take off, land, and taxi without any damage. It generally consists of structural members, hydraulics, energy absorption components, brakes, wheels, and tires, and provides direct control of the aircraft through the provisions of integrating supportive systems for the aircraft.

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Growing Demand For Modern Aircraft Boosts Aircraft Landing Gear Market
The increase in procurement of modern-generation aircraft is expected to propel the growth of the aircraft landing gear market. Due to increasing demand for commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear is increasing, which is expected to drive the aircraft landing gear market. For instance, in July 2021, a US-based airline company, United Airlines, placed orders for a combined 270 Airbus and Boeing narrow-body jets, including 200 737 Max and 70 A321neos. Thus, the increasing procurement of modern-generation aircraft is driving the growth of the aircraft landing market.

Competitive Landscape -
Major companies operating in the aircraft landing gear market report are Safran S.A., Raytheon Technologies Corporation, Heroux-Devtek Inc, Melrose Industries plc, Parker Hannifin Corporation, Triumph Group Inc., Liebherr-International AG, Sumitomo Precision Products Co. Ltd., AAR Corp., Eaton Corporation, Aircraft Landing Gear Co. Ltd, AMETEK Instruments Pvt Ltd, SPP Nagasaki Engineering Co. Ltd, Kawasaki Aerospace Company, AVIC Aircraft Landing Gear Co. Ltd, Commercial Aircraft Corporation of China Ltd, Meggitt PLC, Airbus S.A.S, ZF Luftfahrttechnik, ThyssenKrupp AG, United Aircraft Corporation, IRKUT Corporation, PZL Warszawa, Sukhoi, KF Aerospace, Circor International Inc., Collins Aerospace, Magellan Aerospace Corporation, Boeing Co.

Technological Advancements Driving Lighter And More Efficient Aircraft Landing Gear
Technological advancements in aircraft landing gear are the key trend being followed by the companies operating in the market. Companies are focusing on manufacturing lighter landing gears with lower complexity. For instance, in April 2021, a US-based electric airplane company Metro Hop showcased its concept of Active Landing Gear with electric motors in each wheel. The new system is capable of shortening the takeoff and landing runs of electric airplanes. The lower power requirements and less complexity ensure a lower takeoff weight, leaving capacity for more passengers or cargo.

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Key Segments -
The aircraft landing gear market covered in this report is segmented -
1) By Gear Type: Main Landing Gear, Nose Landing Gear
2) By Aircraft Type: Fixed Wing, Rotary Wing
3) By End User: OEM, Aftermarket

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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