Aircraft Landing Gear MRO Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Main Landing Gear and Nose Landing Gear), Aircraft Type (Fixed Wing and Rotary Wing), and End Use

Aircraft Landing Gear MRO Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Main Landing Gear and Nose Landing Gear), Aircraft Type (Fixed Wing and Rotary Wing), and End User (Commercial and Military)

The aircraft landing gear MRO market size was valued atis expected to grow from US$ 4,343.97 million in 2022 and is projected to reach US$ 5,392.01 million by 2030; it is estimated to register a CAGR of 2.7% from 2022 to 2030.

Considering the growingThe competition in the market is growing at a global level worldwide; hence,, the implementation of digital technologies is a necessary step toward the growth of MRO companies.; This helps them create continuous data flow through various levels of the supply chain, further streamlining the communication between the stakeholders and accelerating innovation in various operations. The digital revolution in the aviation industry significantly impacts all areas of the supply chain of the aviation industry, including aircraft operations, air traffic management, and aircraft and component manufacturing and servicing. The data-driven technologies such as data analytics—which help in tracking aircraft MRO activities in real-time—would is also expected to optimize the air travel experience of crew and passengers. Other advanced technologies such as AI and machine learning facilitate the airline crew and management to understand the airworthiness of the aircraft. For instance, in March 2020, the US Air Force's Air Education and Training Command (AETC) started developing a new competency-based virtual and augmented reality (VR/AR) training solution for aircraft maintenance.

Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and as well as understanding the degree of maintenance and repairs required on the aircraft. Thus, the increasing integration of digital technologies such as AI and machine learning is drivingdrives the aircraft landing gear MRO market growth.

The global aircraft landing gear MRO market has beenis segmented based on the basis of type, aircraft type, and end user. Based on type, the market has beenis segmented divided into main landing gear and nose landing gear. By aircraft type, the market has beenis bifurcated into fixed wing aircraft and rotary wing aircraft. Further, based on end user, it has beenthe market is divided categorized into commercial and military. The global aircraft landing gear MRO market has also beenis analyzed on the basis of five major regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The US is among the leading countries in the global aviation sector, with a a significantly highermassive number of passengers, aircraft fleet, and investment toward the development of the sector. The US aircraft MRO market share has been experiencing sluggish growth for the past few years due to higher increasingly high labor costs, which resulted in the outsourcing of most of the airplanes for heavy checks. The airlines in the country experience a significantly higher density of air traveling passengers, owing to which the flying hours of each aircraft are higher high and consequently demand frequent aircraft maintenance. The presence of numerous independent MRO service providers has enabled airlines to opt for frequent A-checks, B-checks, and C-checks in the country. This factor has catalyzed the growth of the aircraft landing gear MRO market share ofin the country. Moreover, the US Department of Defense (US DoD) is continuously indulges itselfinvolved in procuring a newer aircraft fleet; however, the existing aircraft fleet is significantly higher than in other countries across the worldglobe. For instance, in January 2023, SupplyCore won a contract of US$ 375 million from the Defense Logistics Agency for the maintenance, repair, and operation of US military facilities. The significant defense budget and expenditure from the US DoD allow the forces to opt for frequent MRO activities of the aircraft fleet. This facilitates the forces to be mission-ready. Thus, the continuity in spending higher amounts from the US DoD plays a crucial role in the aircraft landing gear MRO market growth.

Safran, AAR Corp, Magellan Aerospace Corporation, Circor International Inc, Triumph Group Inc, Lufthansa Technik, ST Engineering, Meggitt Plc, Liebherr-International Deutschland GmbH, and Honeywell International Inc are among the key players that are profiled in the aircraft landing gear MRO market report study.

The overall aircraft landing gear MRO market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the aircraft landing gear MRO market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the aircraft MRO market.