Aerospace Landing Gear Market By Technology, Application, Region – Forecast 2024

Aerospace Landing Gear Market in North America is anticipated to exhibit maximum revenue share owing to regular innovations in landing gears coupled with presence of major aircraft players such as Bombardier, Boeing, etc. Increasing military modernization programs across the region have resulted in high procurement of aircrafts such as UAVs and fighter jets, further supporting the region’s dominance.

Increasing aircraft deliveries from regional airliners, especially in MEA and Asia Pacific coupled with rising procurement of UAVs and fighter aircrafts for military programs will primarily drive the industry growth. Air passenger traffic has witnessed a continuous rise across the globe over the past years. This has led to high profitability of airline operators, resulting in high production of aircrafts, escalating the revenue generation for aerospace landing gear market size over the forecast timeframe.

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Aerospace modernization, stringent regulations regarding specifications of aircraft components, and environmental concerns have contributed significantly towards the retirement of old aircraft fleet. Aircraft manufacturers are investing heavily to adopt efficient and modernized aircraft systems for increasing the overall longevity and avoiding accidents & service failure.

Manufacturers are focusing on usage of lightweight materials for production of these landing gears. Increasing demand for lightweight landing gears is attributed to the benefits such as reduction of overall aircraft weight. Emergence of electric brakes is another trend that has gained prominence in the aerospace landing gear market. These brakes assist in easy landing and absorbing shocks.

Aircraft landing gears have high life-span and possess lesser probability to get damaged. This leads to reduction of overall replacement needs of the product, hampering the industry growth over the coming years. Technical issues related to new technology, long manufacturing processes, and stringent design constraints are anticipated to pose a challenge before industry participants.

Rotary wing is projected to grow substantially from 2017 to 2024. The high growth rate can be attributed to rising demand for helicopters, especially from military segment due to increasing usage for emergency medical services, critical missions, and transportation.
By product, aerospace landing gear market is segmented into main and nose landing gears. Main landing gear is expected to capture maximum revenue share over the next eight years owing to their prominence in the overall support for aircraft take-offs and landings. Higher strength than its counterpart is another factor supporting the segment’s dominance.

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Aerospace landing gear market can be segmented based on applications into business, commercial, and military. Commercial sector is likely to capture significant industry share over the forecast timeframe owing to high deployment of landing gears in narrow body, wide body, and regional aircrafts. Rising demand of new aircrafts, especially from regional airline operators in emerging countries will further support the industry dominance.

Liebherr-International AG, AAR Corp., Safran S.A., Circor International, Inc., Magellan Aerospace Corporation, and Héroux-Devtek Inc. are among the noticeable participants in aerospace landing gear market. Other prominent players include United Technologies Corporation, Triumph Group Inc., SPP Canada Aircraft, Inc., Whippany Actuation Systems, and GKN Aerospace Services Ltd. Competitors are focusing on product transformations to offer cost-effective solutions for aircraft manufacturers.

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