Aircraft Landing Gears Market Forecasts to 2028 – Global Analysis By Type (Nose Landing Gear and Main Landing Gear), Platform, Sub-System, Arrangement, End User and By Geography
According to Stratistics MRC, the Global Aircraft Landing Gears Market is accounted for $7.25 billion in 2022 and is expected to reach $11.76 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Landing gear is the undercarriage of an aircraft that is used for takeoff or landing. It is the core support of the aircraft when parked, taxiing, taking off or landing. An aircraft's landing gear is a strongly loaded component. It contributes between 3% and 6% of the aircraft's overall weight. It is a complex system consisting of structural members, hydraulics, energy absorption components, brakes, wheels and tyres. The landing gear is designed to absorb kinetic energy originated during contact with the runway, thereby reducing the impact loads transmitted to the airframe.
According to Airport Business in 2020, the UK aviation minister announced £30 million (€35m) for the departure lounge construction at Birmingham Airport.
Market Dynamics
Driver:
Need for improved light-weighted systems
Airlines are placing a high priority on developing intelligent fleets that enable future network flexibility, maximize capabilities while lowering risk, and promote efficiency and sustainability. The majority of contemporary conventional aircraft extend and retract the landing gear using centralized, complex, and powerful hydraulic systems. Improved electrically driven landing gear wheels make it possible for cleaner, quieter, and more efficient aircraft movement while lowering emissions, which is driving market expansion.
Restraint
Regulatory restrictions
Mechanical errors regularly cause aviation accidents, especially when the landing gear breaks down. Landing gear systems are so often scrutinized and subject to rigid regulations and standards. Landing gear needs to be incredibly dependable, effective, and able to withstand bad weather conditions since it experiences substantial weights and shocks during takeoff and landing. Regulations must be followed by all indications, switches, and sensors used to assist the pilot during flights. The market's expansion is being hampered by the rigorous rules.
Opportunity
Rise in advanced air mobility
The advanced air mobility is gaining huge popularity. Due to significant investments in the industry, there are currently more than 200 companies worldwide creating electric vertical take-off and landing (eVTOL) aircraft. Many automakers, seasoned participants in the industry, and newcomers are entirely concentrated on AAM. The market demand is being fuelled by its successful commercial operations and sound business tactics.
Threat
Decrease in aircraft deliveries and slower pace in meeting backlogs
For airline firms, the confluence of unfavorable supply and demand shocks produced an ambiguous outlook. These cross-industry ties and unpredictability have an effect on the aviation sector as a whole. Governments established additional air travel safety restrictions following the pandemic. In the short term, both aircraft deliveries and backlogs suffered hugely. This affected the production of landing system OEMs and MRO companies which hampered the market demand.
Covid-19 Impact
Several economic sectors have been significantly impacted by the COVID-19 epidemic. The market for airplane landing gear was adversely disrupted by the travel restriction imposed during the epidemic. However the gradual lifting of the lockdowns also presented several possible prospects for the future of the aviation landing gear sector.
The nose landing gear segment is expected to be the largest during the forecast period
The nose landing gear segment is estimated to have a lucrative growth, due to the increasing need for a supporting gear system for heavy and laden aeroplanes. The nose gear acts as a suspension mechanism during takeoff, landing, and taxiing. It absorbs the kinetic energy of the landing impact and reduces the strains placed on the aircraft. Strict government regulations for aviation safety also foster the expansion of the segment.
The fixed wing segment is expected to have the highest CAGR during the forecast period
The fixed wing segment is anticipated to witness the highest CAGR growth during the forecast period, due to substantial increases in both commercial and general aviation sectors. It is predicted to experience the highest growth due to increasing demand for modern aircraft. Further, manufacturers are working to replace bulky, conventional aircraft components with an improved aircraft landing gear system which is also driving the segment demand.
Region with highest share:
Europe is projected to hold the largest market share during the forecast period owing to expanding public interest in aerospace and increasing disposable wealth. The market growth in the region is being supported by the regional companies expansion. It has the presence of major market players such as Airbus, Leonardo Spa and Safran SA. Also, the surveillance and monitoring of explosive detection are improved by this technological advancement. The market is therefore anticipated to expand as a result of the increased government spending.
Region with highest CAGR
North America is projected to have the highest CAGR over the forecast period, owing to the rise in orders and sales of aircraft in the region. Furthermore, the growth of the sector is primarily being driven by numerous industry participants in the region. These players are continuously investing in R&D to improve landing gear efficiency and reliability. This region also has the high proportion of consumer spending. These factors are boosting the market expansion in North America.
Key players in the market
Some of the key players profiled in the Aircraft Landing Gears Market include Parker Hannifin Corporation, Collins Aerospace, Safran S.A., Eaton Corporation Plc, Liebherr-International Deutschland GmbH, Triumph Group, Inc., Moog Inc., Beaver Aerospace & Defense, Inc., GKN Aerospace, Hawker Pacific Aerospace, Heroux-Devtek Inc, Magellan Aerospace Corporation, SPP Canada Aircraft Inc, CIRCOR International Inc., AAR Corporation, Alaris Aerospace, UTC Aerospace System and Crane Holdings Co.
Key Developments
In July 2022, Safran Landing Systems signed an agreement with Boom Supersonic to become a key supplier for its ""Overture"" aircraft programme. Boom Supersonic is developing the world's fastest airliner, which is geared for speed, safety, and sustainability. Overture will have a range of 4,250 nautical miles and travel at a speed of Mach 1.7 over water while carrying 65 to 80 people.
In August 2021, Precision Aviation Group, Inc. (PAG), a leading provider of aerospace and aviation products has announced that it has acquired the Trace Aviation (TA) of Jackson, Mississippi. The Trace aviation is widely recognized for its MRO capabilities on King Air/1900 landing gear assemblies.
In July 2021, Southwest Research Institute (Texas) announced that they have recently received a contract worth up to USD 300 million to help the U.S. Air Force sustain aircraft landing gear systems. This 20-year indefinite delivery, indefinite quantity (IDIQ) contract award supports the Air Force’s comprehensive landing gear integrity program.
Types Covered:
• Nose Landing Gear
• Main Landing Gear
Platforms Covered:
• Fixed Wing
• Rotary Wing
• Unmanned Aerial Vehicles
• Advanced Air Mobility Solutions
Sub-Systems Covered:
• Steering
• Actuation
• Braking
• Retraction System
• Other Sub-Systems
Arrangements Covered:
• Tail Wheel
• Tandem
• Tri-Cycle
• Other Arrangements
End Users Covered:
• Original equipment manufacturer (OEM)
• Aftermarket
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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