Overview and Scope
Aircraft landing gear is the undercarriage of an aircraft that supports the aircraft to take off, land, and taxi without any damage. It generally consists of structural members, hydraulics, energy absorption components, brakes, wheels, and tires, and provides direct control of the aircraft through the provisions of integrating supportive systems for the aircraft.
Sizing and Forecast
The aircraft landing gear market size has grown rapidly in recent years. It will grow from $13.31 billion in 2023 to $14.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increased adoption of lighter and robust landing gears, increased raw material costs, a rise in air travel, strong economic growth in emerging markets and an increased military spending.
The aircraft landing gear market size is expected to see rapid growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increase in passenger air traffic, growing urbanization and growing demand for new fighter jets in developing countries. Major trends in the forecast period include focus on 3d printed landing gears, focus on active landing gears, focus on new facility expansions, focus on developing new technological solutions, focus on mergers and acquisitions, focus on advanced landing gears, focus on partnerships and collaborations and focus on strategically investing to expand products portfolio.
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Segmentation & Regional Insights
The aircraft landing gear market covered in this report is segmented –
1) By Gear Type: Main Landing Gear, Nose Landing Gear
2) By Aircraft Type: Fixed Wing, Rotary Wing
3) By End User: OEM, Aftermarket
North America was the largest region in the aircraft landing gear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in procurement of modern-generation aircraft is expected to propel the growth of the aircraft landing gear market. Due to increasing demand for commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear is increasing, which is expected to drive the aircraft landing gear market. For instance, in July 2021, a US-based airline company, United Airlines, placed orders for a combined 270 Airbus and Boeing narrow-body jets, including 200 737 Max and 70 A321neos. Thus, the increasing procurement of modern-generation aircraft is driving the growth of the aircraft landing market.
Key Industry Players
Major companies operating in the aircraft landing gear market report are Safran S.A., Raytheon Technologies Corporation, Heroux-Devtek Inc, Melrose Industries plc, Parker Hannifin Corporation, Triumph Group Inc., Liebherr-International AG, Sumitomo Precision Products Co. Ltd., AAR Corp., Eaton Corporation, Aircraft Landing Gear Co. Ltd, AMETEK Instruments Pvt Ltd, SPP Nagasaki Engineering Co. Ltd, Kawasaki Aerospace Company, AVIC Aircraft Landing Gear Co. Ltd, Commercial Aircraft Corporation of China Ltd, Meggitt PLC, Airbus S.A.S, ZF Luftfahrttechnik, ThyssenKrupp AG, United Aircraft Corporation, IRKUT Corporation, PZL Warszawa, Sukhoi, KF Aerospace, Circor International Inc., Collins Aerospace, Magellan Aerospace Corporation, Boeing Co.
The aircraft landing gear market report table of contents includes:
1. Executive Summary
2. Aircraft Landing Gear Market Characteristics
3. Aircraft Landing Gear Market Trends And Strategies
4. Aircraft Landing Gear Market – Macro Economic Scenario
5. Global Aircraft Landing Gear Market Size and Growth
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31. Global Aircraft Landing Gear Market Competitive Benchmarking
32. Globa Aircraft Landing Gear Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Aircraft Landing Gear Market Future Outlook and Potential Analysis
35. Appendix
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