The global commercial aircraft landing gear market size was USD 14.7 Billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing aircraft orders from various airlines due to rising number of passengers choosing air travel.
Landing gear is the under carriage of a spacecraft or aircraft that is used for either landing or take-off. Landing gear supports the aircraft when it is not flying and also allows it to land. take-off, or taxi without any damage. These gears have wheels that are in form of floats, skids, skis, or combination of them. Other elements of the landing gear are arranged according to surface and aircraft’s direction operation .
Aircraft landing gear system is one of the critical subsystems and supports complete load of an aircraft in the course of ground operations and landing. Landing gear is attached to main structural members of the aircraft. Gear type is dependent on the aircraft’s use and design. Majority of the landing gear have wheels to aid operation along the airport runways. Weight reduction in aircraft landing gear is required to attain ideal ratio between range and payload. Its design is takes into consideration in regards to various requirements such as strength, stability, stiffness, ground clearance, control and damping under all possible ground attitudes of the aircraft.
Commercial Aircraft Landing Gear Market Trends, Drivers, Restraints, and Opportunities
- The boost in the air traffic has increased the number of airline services. which is spurring the market growth.
- Aircraft manufacturers are focusing on weight reduction of the aircraft as it improves fuel efficiency and increase profit margins for the airlines. Thus, increasing demand for light weight landing gear is driving the market growth.
- Lack of relevant safety and stringent regulations are some of the major hindrances to the development of the market.
- High maintenance cost of aircraft landing gear products can restrain the growth of the market during the forecast period.
- Increasing R&D investments and ongoing technological advancement in the aircraft models is expected to create significant opportunities for the market players in the projected timeline.
Scope of the Commercial Aircraft Landing Gear Market Report
The report on the global commercial aircraft landing gear market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Commercial Aircraft Landing Gear Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Landing Gear Types (Main Landing Gears and Nose Landing Gears), Aircraft Types (Narrow body, Wide body, and Regional Jet)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Safran SA, Raytheon Technologies Corporation, Honeywell International Inc., AAR Corporation, and Meggitt PLC.
Commercial Aircraft Landing Gear Market Segment Insights
Main landing gears segment is projected to hold a major market share
On the basis of landing gear types, the market is bifurcated into main landing gears and nose landing gears. The main landing gears segment is expected to hold a key market share in the coming years due to rising technological development that improved the revenue generation. The main landing gear assembly is considered as the most complex development. On the other hand, the nose landing gears segment is expected to grow at a steady rate during the forecast period.
Narrow body segment is expected to grow at a rapid pace
Based on aircraft types, the market is segmented into narrow body, wide body, and regional Jet. The narrow body segment is expected to expand at significant pace during the forecast period owing to increasing passenger traffic in low-cost carriers (LCCs) and growing number of high-density flights on major airports.
Asia Pacific is anticipated to dominate the market
In terms of regions, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia pacific is expected to dominate the market during forecast period owing to the major portion of the deliveries of commercial aircraft and demand for new commercial aircraft landing gear is increased in this region. The growth in the commercial aviation sector in China has been spectacular in past five years and is further expected to grow at a steady rate in the projected timeline.
Segments Covered in the Report
The global commercial aircraft landing gear market has been segmented on the basis of
Landing Gear Types
- Main Landing Gear
- Nose Landing Gear
- Narrow body
- Wide body
- Regional Jet
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the commercial aircraft landing gear market include Safran SA; Raytheon Technologies Corporation; Honeywell International Inc.; AAR Corporation; and Meggitt PLC.