Commercial Aircraft Landing Gear Market to Flourish with an Impressive CAGR During 2017 - 2025
Aircraft landing gear supports the complete load of an air craft in the course of ground operations and landing. The landing gear are attached to main structural members of the aircraft. The type of gear relies on the aircraft’s intended use and design. Majority of the landing gear have wheels to aid operation to and from solid surfaces like airport runways.
Commercial aircraft landing gear market is growing due to the growing need for new advanced aircrafts coupled with speedy growth in the global air traffic industry. This is one of the most significant systems mounted on an airplane since the landing gear supports the complete load of the aircraft during landing and take-off.
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Price drop in air fare because of the low price of oil has fortified people to travel more via air. The upsurge in air traffic has led to rise of new airline services that is likely to drive the market growth of commercial aircraft landing gears market during and over the forecast period.Reduction in weight is required in order to achieve optimum ratio between range and payload for an air plane. Aerospace companies are developing advanced lightweight landing gears that is likely to help them not compromise on safety. Demand of light weight landing gear system are fuelling the demand of aircraft landing gear market since the aircraft companies need to reduce the overall weight of the airplane to increase the fuel efficiency.
Increasing demand of military unmanned aerial vehicles and aircrafts is acting as one of the important driver in the global market and the impact of this factor is likely to be high during the forecast period.Lack of relevant proper safety regulations and strict regulations are the major hindrance to global development of the industry. Additionally, the cost of research and development to improve these products is likely to be the restraining factor in the global commercial aircraft landing gear market during the forecast period.
Emerging aircraft manufacturers in the region of Latin America and Asia Pacific is likely to be one of the important opportunities in the global commercial aircraft landing gear market during the forecast period.The global commercial aircraft landing gear market is segmented based on type into nose landing gear and main landing gear. Based on platform, the market is bifurcated into rotary wing and fixed wing. On the basis of application, the market is segregated into business, military and commercial. Based on the aircraft type the market is bifurcated into narrow body aircraft, wide body aircraft, regional transport aircraft and very large aircraft.
The geographic split of the commercial aircraft landing gear market includes North America, Asia Pacific, Europe, Middle East and Africa and Latin America. North America had the highest market revenue share and is expected to remain the dominant market during the forecast period followed by Europe and Asia Pacific.
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Some of the key players in the commercial aircraft landing gear market are Liebherr-International AG, Circor International, Inc., Magellan Aerospace Corporation, United Technologies Corporation, Safran S.A., Héroux-Devtek Inc., Triumph Group Inc., AAR Corp., GKN Aerospace Services Ltd. and SPP Canada Aircraft, Inc. among others.
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