Global Aircraft Gearbox Market to Reach $4.72 Billion by 2029, Growing at 6.6% CAGR

What combination of drivers is leading to accelerated growth in the aircraft gearbox market?
The aircraft gearbox market is poised for expansion, driven by the anticipated rise in air traffic. This rise is linked to a growing number of air travelers, surge in international tourism, and heightened demand for commercial aircraft for deliveries. The population growth and economic expansion are catalyzing an upsurge in aviation traffic, leading to a rise in demand for aircraft engines and components. This, in turn, spurs the aircraft gearbox market. For example, in May 2022, the IATA (International Air Transport Association), which is a Canada-based airlines trade association, revealed that global air traffic in March 2022 surged by 76.0%. The traffic in March experienced a 425.44% increase compared to March 2021. Moreover, in March 2022, air traffic for airlines in the Asia-Pacific region witnessed a 197.1% increase compared to the same month in the previous year, a significant growth from the 146.5% increase recorded in February 2022 over February 2021. Hence, the surge in air traffic is propelling the aircraft gearbox market towards growth.

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What is the projected compound annual growth rate (CAGR) of the aircraft gearbox market from 2025 to 2034, and what factors influence it?
Recent years have seen a robust growth in the size of the aircraft gearbox market. The value of the market is expected to rise from $3.39 billion in 2024 to $3.65 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.6%. The compelling growth during the historical period stems from a buoyant economy in developing markets, escalating air traffic, a surge in commercial aircraft deliveries, and investments funnelled into geared turbofan engines.

Expectations are high for robust expansion in the aircraft gearbox market over the coming years. By 2029, it is forecasted to attain a value of $4.72 billion, exhibiting a compound annual growth rate (CAGR) of 6.6%. Several factors will contribute to this growth during the projected period, such as the burgeoning demand for military helicopters, an expanded aircraft fleet size, and increased dedication to research and development. Key trend forecasts for this period include initiatives focusing on the introduction of novel power gearboxes and the advancement of technologies to create more advanced products. Additionally, strategic partnerships and collaborative efforts are expected to broaden their product range and geographical reach. Another key focus will be market investment strategies aimed at the development of innovative product solutions.

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How are the latest trends influencing the growth of the aircraft gearbox market?
Prominent corporations in the aircraft gearbox market are concentrating on technological innovation like advanced main gearboxes (eMGB) to bolster safety, minimize maintenance expenses, and heighten overall operational productivity. Especially designed for helicopters, this advanced main gearbox (eMGB) escalates operational productivity and safety with improved engineering and materials. The result is a reduction in maintenance needs and downtime, which in turn enhances the total performance and dependability of the aircraft for operators. For example, Airbus Helicopters SAS, an Airbus division based in France that manufactures helicopters, launched an advanced main gearbox (eMGB) for the H225 in February 2023 with the intentions of augmenting safety and vastly reducing maintenance needs for operators. This groundbreaking development not only elevates the performance of the helicopter but also highlights Airbus's dedication to advancing technology within the heavy-twin sector.

What are the major segments of the aircraft gearbox market and their role in driving growth?
The aircraft gearbox market covered in this report is segmented -

1) By Component: Gear, Housing, Bearings, Other Components
2) By Aircraft Type: Civil Aviation, Military Aviation
3) By Fit: Retrofit, Linefit
4) By Gearbox Type: Accessory, Actuation, Reduction, Tail Rotor, Auxiliary Power Unit, Other Gearbox Types
5) By Application: Engine, Airframe

Subsegments:
1) By Gear: Reduction Gears, Planetary Gears, Spur Gears
2) By Housing: Gearbox Cases, End Covers
3) By Bearings: Roller Bearings, Ball Bearings, Thrust Bearings
4) By Other Components: Seals And Gaskets, Lubrication Systems, Cooling Systems

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Which regions are key players in the growth of the aircraft gearbox market?
North America was the largest region in the aircraft gearbox market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft gearbox market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the aircraft gearbox market?
Major companies operating in the aircraft gearbox market include Safran, Triumph Group, Liebherr, The Boeing Group, General Electric, Rexnord Corporation, Rolls-Royce plc, Aero Gear, SKF, Northstar Aerospace, BAE Systems India Services Pvt Ltd, Nabtesco Corporation, Harbin Aircraft Industry Group, Shenyang Aircraft Corporation, Xi'an Aircraft Industrial Corporation, Shanghai Aircraft Industry Corporation, Hongdu Aviation Industry Group, Changhe Aircraft Industries Corporation, Chengdu Aircraft Industry Group, Guizhou Aircraft Industry Corporation, Meggitt PLC, Eaton Corporation PLC, Airbus S.A. S, ZF Luftfahrttechnik, ThyssenKrupp AG, CEF Industries, The Timken Company, PBS Velka Bites, Avion Corporation, AAR Corp, Circor International Inc, Collins Aerospace, Héroux-Devtek Inc, Magellan Aerospace Corporation, Bombardier Inc, Bell Textron Inc, Pratt & Whitney Canada, KF Aerospace, Elbit Systems Ltd, Israel Aerospace Industries, Saudi Aircraft Accessories and Components Company, Mubadala Aerospace, Alp Aviation, Turkish Technic Inc, Turkish Aircraft Industries Corporation, Parker-Hannifin Corporation, Moog Inc.

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What Is Covered In The Aircraft Gearbox Global Market Report?

•Market Size Forecast: Examine the aircraft gearbox market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the aircraft gearbox market for a structured understanding.
•Key Players Overview: Analyze major players in the aircraft gearbox market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aircraft gearbox market.
•Segment Contributions: Evaluate how different segments drive overall growth in the aircraft gearbox market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aircraft gearbox market.
•Industry Challenges: Identify potential risks and obstacles affecting the aircraft gearbox market.
•Competitive Landscape: Review strategic developments in the aircraft gearbox market, including expansions, agreements, and new product launches.

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