Press release
Commercial Aircraft Landing Gear Industry to See Robust Expansion, Valued at $14.96 Billion by 2029
Commercial Aircraft Landing Gear
What Is the Projected CAGR for the Commercial Aircraft Landing Gear Market from 2024 to 2025?
In the last few years, the commercial aircraft landing gear market has seen robust growth. The market valuation is expected to increase from $9.94 billion in 2024 to $10.73 billion in 2025, marking a compound annual growth rate (CAGR) of 7.9%. Factors such as aging aircraft fleets, expansion in air travel, adherence to regulatory standards, regional development, and issues surrounding consumer safety are the primary drivers for growth during the historical period.
What are the Expected Market Size and CAGR for Commercial Aircraft Landing Gear by 2029?
There is a projection for significant expansion in the commercial aircraft landing gear market in the coming years, with the market size predicted to reach $14.96 billion by 2029, representing a compound annual growth rate (CAGR) of 8.7%. This anticipated growth during the forecast period is tied to various factors including the expansion of aircraft fleet, concerns around fuel efficiency and environment, a market transition towards wide-body aircraft, the demand for retrofit and maintenance, defense and cargo aircraft, and increased automation. Key trends expected to be prevalent in the forecast period are technological advancements, the introduction of new aircraft models, the adoption of 3D printing and additive manufacturing, the use of lightweight materials, retractable landing gear, and electric actuation.
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Which Factors Are Driving the Global Commercial Aircraft Landing Gear Market Expansion?
The projected increase in aircraft requirements is likely to stimulate the expansion of the commercial aircraft landing gears market. Aviation serves as a fast worldwide transport network, contributing to economic development, job creation, and the enhancement of international trade and tourism. The growing need for passenger and cargo air transport has led to a rise in new aircraft purchases by global air transport and cargo service firms. The accelerated sales growth of aircraft is likely to enhance the need for landing gear, a crucial part of every airplane. For instance, according to a January 2024 report by the Canada-based International Air Transport Association, North American carriers saw a 28.3% surge in yearly traffic in 2023 compared to 2022, accompanied by a 22.4% increase in capacity. Thus, the escalating aircraft demand is anticipated to lead to increased demand for commercial aircraft landing gears during the predicted time frame.
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Which Segment Currently Holds the Largest Share of the Commercial Aircraft Landing Gear Market?
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
Subsegments:
1) By Main Landing Gear: Single Aisle Aircraft, Twin Aisle Aircraft, Regional Aircraft, Cargo Aircraft
2) By Nose Landing Gear: Single Aisle Aircraft, Twin Aisle Aircraft, Regional Aircraft, Cargo Aircraft
Which Major Trends Are Shaping the Future of the Commercial Aircraft Landing Gear Industry?
Emerging trends in the commercial aircraft landing gears sector point towards a growing adoption of cutting-edge landing gear technologies. These technologies facilitate the absorption and dissipation of kinetic energy resulting from landing impact, leveraging recent innovations such as reconfigurable landing gear sub-systems, hydraulic mechanisms, and control units. Such technologies assist commercial aircraft by integrating wheel braking and speed regulation systems, thereby offering the aircraft improved directional control. Notably, key companies within the commercial aircraft landing gears industry are investing in the development of advanced solutions to ensure their continued market relevance. For instance, UAVOS Inc., a US-based organization specializing in aviation products and systems, announced an enhancement to its primary landing gear in September 2023, specifically designed for heavy-lift unmanned aircraft. This upgraded landing gear design incorporates the latest breakthroughs from UAVOS's production line, including the use of lightweight prepreg composite materials and advanced lay-up procedures to improve the durability and efficacy of the aircraft.
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Which Key Players Dominate the Commercial Aircraft Landing Gear Industry Globally?
Major companies operating in the commercial aircraft landing gear market include AAR Corp., Circor Aerospace Inc., Heroux-Devtek Inc., Honeywell Aerospace, Liebherr-International AG, Safran Landing Systems, Triumph Group Inc., GKN Ltd., Magellan Aerospace Corporation, Aerospace Industrial Development Corporation, Sumitomo Precision Products Co. Ltd., Heroux-Devtek UK Ltd., Parker-Hannifin Corporation, Meggitt plc, Circor International Inc., Whippany Actuation Systems, Young Poong Corporation, South Korea Aerospace Industries Ltd., RENK AG, Lufthansa Technik Landing Gear Services UK, RTX Corporation, AVIC SAC Commercial Aircraft Landing Gear Co. Ltd., ShinMaywa Industries Ltd., Elbit Systems Ltd., Moog Inc., Senior Aerospace Weston
What Are the Fastest-Growing Regions in the Commercial Aircraft Landing Gear Market?
North America was the largest region in the commercial aircraft landing gear market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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