Global Commercial Aircraft Landing Gear Market 2024-2031

Global Commercial Aircraft Landing Gear Market 2024-2031

Global Commercial Aircraft Landing Gear Market Size, Share & Trends Analysis Report by Landing Gear Type (Main Landing Gear and Nose Landing Gear), and by Aircraft Type (Narrowbody, Widebody, and Regional Jet) Forecast Period (2024-2031)

Global commercial aircraft landing gear market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). Commercial aircraft landing gear is the undercarriage system supporting an aircraft during landing, takeoff, and taxiing, ensuring safe ground operations.

Market Dynamics

Rising Investment in R&D of Advanced Lightweight Landing Gear

Landing gear manufacturers are actively involved in R&D to create advanced lightweight landing gear systems. These innovations aim to enhance aircraft fuel efficiency, incorporate noise reduction technologies, and develop electric landing gear systems to mitigate carbon emissions from aviation.To address increased air traffic and enhance airport competitiveness, Japan is considering more takeoffs and landings at major airports. In August 2021, in collaboration with the Japan Aerospace Exploration Agency (JAXA), Kawasaki Heavy Industries, and Mitsubishi Aircraft Corp., SPP is involved in FQUROH (flight demonstration of quiet technology to reduce noise from high-lift configurations), focusing on designing and manufacturing noise reduction devices for the main landing gear.

Market Segmentation

Our in-depth analysis of the global commercial aircraft landing gear market includes the following segments by landing gear type, and aircraft type:

Based on landing gear type, the market is bifurcated into main landing gear and nose landing gear.

Based on aircraft type, the market is augmented into narrowbody, widebody, and regional jet.

Narrowbody Sub-segment to Hold a Considerable Market Share

Based on the aircraft type, the global commercial aircraft landing gear market is sub-segmented into narrowbody, widebody, and regional jet. Among these, the narrowbody sub-segment is expected to hold the largest share of the market, owing to growing passenger traffic and air travel, especially for short-haul routes, drive the demand for narrowbody aircraft and their landing gear.Owing to such factors, the market plaers are increasing their production to cater the demand. In December 2023, Boeing delivered 46 narrowbody 737s in November, transporting the yearly total to 351 units. The USplanemaker aimed for 375-400 737 deliveries this year and is approximately 25 planes away from the revised target. November's deliveries comprised 45 MAX planes and 1 737 NG-based P-8 maritime patrol aircraft.

Regional Outlook

The global commercial aircraft landing gear market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

China is Experiencing Rapid Expansion in the Commercial Aviation Sector

The growing commercial aviation sector in China is leading to significant economic impacts and fostering overall development in emerging economies by accelerating enhanced global connectivity. In November 2022, China Aviation Supplies (CASC) signed a bulk agreement for 140 Airbus aircraft including 132 A320-family jets and eight A350 wide-body aircraft. The total value of this deal was estimated at $7 billion and included CASC's existing orders. Such developments are contributing to the growth of the regional market.

Market Players Outlook

The major companies serving the global commercial aircraft landing gear market include AAR CORP., Honeywell International Inc., Parker-Hannifin Corp., RTX Corp., Safran SA, and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in October 2023, Hyundai Motor Group's Advanced Air Mobility company, Supernal, partnered with Hyundai WIA and Mecaer Aviation Group to design and manufacture landing gear systems for electric vertical takeoff and landing (eVTOL) vehicles.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global commercial aircraft landing gear market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.