Press release
Aircraft Gearbox Market is Anticipated to Expand upto $5.43 Billion in 2029
Aircraft Gearbox
What Is the Forecasted Market Growth Rate of the Aircraft Gearbox Industry?
In the past few years, the size of the aircraft gearbox market has experienced significant growth. It is set to expand from $3.6 billion in 2024 to $3.91 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. The growth witnessed in the historic period is due to robust economic advances in emerging markets, increased air traffic, a surge in deliveries of commercial aircraft, and investments in geared turbofan engines.
How Will the Aircraft Gearbox Market Size Evolve From 2025 to 2029?
Strong expansion is anticipated in the aircraft gearbox market in the forthcoming years, with estimations suggesting a surge to $5.43 billion by 2029, indicating a compound annual growth rate (CAGR) of 8.5%. This market growth for the projected period can be linked to the escalating demand for military helicopters, the expansion of the aircraft fleet, and intensified research and development endeavors. The forecast period sees significant trends such as the launch of new power gearboxes, a focus on technological progression and creation of technologically evolved products, emphasis on partnerships and collaborations for extending product range and geographical outreach, and attention on market investment for the innovation of new product solutions.
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What Are the Main Growth Drivers in the Aircraft Gearbox Market Today?
The aircraft gearbox market is predicted to expand due to a surge in air travel. This includes an increased number of individuals flying, a jump in international tourism, and a growing demand for commercial planes for delivery purposes. The swelling of aviation traffic because of population and economic growth has consequently increased the requirement for aircraft engines and parts, consequently fueling the aircraft gearbox market's demand. For example, the International Air Transport Association (IATA), a Canada-based airlines trade group, reported in May 2022 that global air traffic in March 2022 grew by 76.0%. This was a 425.44% increase compared to March 2021. Moreover, the Asia-Pacific airlines traffic recorded a 197.1% increase in March 2022 compared to the same month previous year, which was above the 146.5% increase recorded in February 2021 over February 2022. Hence, the surge in air traffic is propelling the aircraft gearbox market's growth.
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Which Aircraft Gearbox Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Aircraft Gearbox Industry Growth?
Top firms within the aircraft gearbox market are centering their strategies on technological enhancements like the upgraded main gearboxes (eMGB). These advancements boost safety, lower maintenance costs, and heighten overall operational productivity. The eMGB is an advanced component specially made for helicopters, developed with cutting-edge engineering and superior materials to boost operational efficiency and safety. This modernized gearbox decreases the need for maintenance and downtime, consequently improving the overall performance and dependability for operators. For example, Airbus Helicopters SAS, an Airbus's rotorcraft production division in France, rolled out an eMGB for the H225 in February 2023. This was formulated to significantly reduce maintenance requirements for users while boosting safety. This upgrade not only enhances the helicopter's performance, but it also exemplifies Airbus's dedication to furthering technological advancements in the heavy-twin segment.
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Which Companies Hold the Largest Market Share in the Aircraft Gearbox Sector?
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.
Where Is the Aircraft Gearbox Market Experiencing the Highest Growth?
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.
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