(PharmaNewsWire.Com, March 25, 2024 ) The Aircraft Landing Gears Market is estimated to grow to USD 9.1 billion by 2028, from USD 7.1 billion in 2023, at a CAGR of 5.0%. North America is estimated to account for the largest share of the aircraft landing gears market in 2023. The aircraft landing gears market, a pivotal segment within the aerospace industry, refers to the aircraft landing gears refers to the aircraft undercarriage that enables the landing and take-off of aircraft. It also supports the aircraft while taxiing and on the ground. Aircraft landing gear can be the main landing gear and nose landing gear. The aircraft landing gear system includes a braking system, steering system, and actuation system, among other systems. It is used in almost all aircraft types, such as fixed-wing and rotary-wing aircraft, for commercial and military aviation. Key drivers include technological advancements in material used for manufacturing landing gear, increasing demand for air travel and light aircraft. Aircraft landing gear manufacturers stand at the nexus of innovation as they navigate the evolving landscape of regulatory requirements and collaborate with major aircraft manufacturing companies like Boeing and Airbus.
The expansion of commercial and military aircraft fleets offers a promising avenue for aircraft landing gears integration, presenting manufacturers with the prospect of equipping new platforms with cutting-edge technologies. Additionally, the market benefits from a growing demand for retrofit solutions, as operators seek to modernize aging aircraft fleets. Collaborative initiatives and partnerships provide avenues for research-based firms to contribute to advancements in aircraft landing gear, while defense modernization programs bolster opportunities in military applications.
Based on the end user, the aircraft landing gears market has been segmented into OEM and Aftermarket. The OEM segment is expected to achieve the highest CAGR during the forecast period. The growth of the aircraft landing gears market within the line fit segment, where avionic systems are installed during the initial manufacturing of aircraft, is influenced by several key factors. The OEM segment is crucial as it directly impacts the integration of aircraft landing gears into new aircraft. The overall growth in commercial and military aircraft production rates drives the demand for aircraft landing gears in the end user segment.
Based on the type, the market is further divided into types, encompassing main landing gears and nose landing gears. Main landing gears grow with highest CAGR 2028. The increasing size and weight of aircraft demand highly durable and technologically advanced landing gear, this contributes to the growth of main landing gears. Manufacturers focusing on advanced landing gears attract demand from private aircraft owners. The rise of electric and hybrid actuation in main landing gears opens new opportunities for aircraft landing gear manufacturers.
Based on Aircraft Type, the aircraft landing gears market is further segmented into Fixed-wing aircraft, Rotary-wing aircraft, Unmanned Aerial Vehicles, Advanced Air Mobility. The Fixed-wing aircraft segment is estimated to have the highest market share during the forecast period. The rise in air traffic where the major focus of passengers for long routes is the fixed wing aircraft, which results in growing manufacturing orders of fixed wing aircraft. These are the major reasons for the growth of fixed wing aircraft segment in the aircraft landing gears market.
Key Market Players
Major players in the Aircraft Landing Gear companies include Collins Aerospace (US), Safran (France), Héroux-Devtek (Canada), Liebherr (Switzerland), Triumph Group (US) to enhance their presence in the market. The report covers various industry trends and new technological innovations in the aircraft landing gear market.
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
