What Is The Current Size And Forecasted Growth Of The Commercial Aircraft Landing Gear Market?
The commercial aircraft landing gear market size has shown significant growth over the recent years. The market is expected to grow from $9.94 billion in 2024 to $10.8 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth during the historical period has been driven by factors such as aging fleets, air travel growth, regulatory standards, regional expansion, and consumer safety concerns.
Moreover, the commercial aircraft landing gear market size is expected to see further growth in the next few years, with an expected increase to $15.36 billion in 2029 at a CAGR of 9.2%. The growth during the forecast period can be attributed to aircraft fleet expansion, fuel efficiency and environmental concerns, a market shift towards wide-body aircraft, retrofit and maintenance demand, defense and cargo aircraft, and increasing automation. Factors such as technological advancements, new aircraft models, 3D printing and additive manufacturing, lightweight materials, retractable landing gear, and electric actuation are other important trends for the forecasted period.
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What Are The Key Drivers Of The Commercial Aircraft Landing Gear Market?
The growth of the commercial aircraft landing gear market is expected to be propelled by the growing demand for aircraft. Aviation provides a rapid global transportation network, accelerating economic growth, job creation, and promoting international trade and tourism. The increased passenger and freight air transport demand has increased the purchase of new aircraft by air transportation and cargo service providers across the globe. The rapid growth in sales of aircraft is expected to boost the demand for landing gear, as they are a vital component in each aircraft. For instance, in January 2024, the International Air Transport Association, a Canada-based association, reported a 28.3% increase in annual traffic in 2023 compared to 2022, along with a 22.4% rise in capacity. Therefore, the growing demand for aircraft is expected to stimulate market growth for commercial aircraft landing gears during the forecast period.
What Are The Key Segments Of The Commercial Aircraft Landing Gear Market?
The commercial aircraft landing gear market covered in this report has been segmented into –
1) By Gear Position: Main Landing, Nose Landing
2) By Aircraft Type: Fixed Wing, Rotary Wing
3) By End-User: Commercial, Armed Forces
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Which Are The Major Players In The Commercial Aircraft Landing Gear Market?
Major companies operating in the commercial aircraft landing gear market include AAR Corp., Circor Aerospace Inc., Heroux-Devtek Inc., Honeywell Aerospace, Liebherr-International AG, Safran Landing Systems, Triumph Group Inc., GKN Ltd., Magellan Aerospace Corporation, Aerospace Industrial Development Corporation, Sumitomo Precision Products Co. Ltd., Heroux-Devtek UK Ltd., Parker-Hannifin Corporation, Meggitt plc, Circor International Inc., Whippany Actuation Systems, Young Poong Corporation, South Korea Aerospace Industries Ltd., RENK AG, Lufthansa Technik Landing Gear Services UK, RTX Corporation, AVIC SAC Commercial Aircraft Landing Gear Co. Ltd., ShinMaywa Industries Ltd., Elbit Systems Ltd., Moog Inc., and Senior Aerospace Weston.
What Are The Emerging Trends In The Commercial Aircraft Landing Gear Market?
Emerging trends in the commercial aircraft landing gear market include the implementation of advanced landing gear technologies. These technologies aim to absorb and dissipate the kinetic energy of landing impact, employing technologies such as retractable landing gear sub-systems, hydraulic systems, and controllers. For instance, in September 2023, UAVOS Inc. announced its improved and modified primary landing gear to accommodate heavy-lift unmanned aircraft, with enhanced durability and efficiency facilitated by the application of lightweight prepreg composite material.
Which Region Is The Largest And The Fastest Growing In The Commercial Aircraft Landing Gear Market?
As of 2024, North America was the largest region in the commercial aircraft landing gear market, whereas Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Commercial Aircraft Landing Gear Market Report 2025 Offer?
The commercial aircraft landing gear refers to providing undercarriage support for aircraft to arrange a suspension system during taxi, take-off, and landing. Its purpose is to absorb and disperse the angular momentum energy of landing impacts, lowering the impact force transferred to the aircraft. The Commercial Aircraft Landing Gear Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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