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Aerospace Landing Gear Market Size By Position (Main Landing Gear, Nose/Tail Landing Gear), By Arrangement (Tail Wheel, Tandem, Tri-cycle), By Platform (Fixed Wing [OEM, MRO], Rotary Wing [OEM, MRO]), By Aircraft (Military Aircraft [Fixed Wing, Rotary Wing], Commercial Aviation, General Aviation [Business Aviation, Regional Jets], By Distribution Channel (OEM, MRO), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

  • Report ID: GMI2343
  • Published Date: Dec 2020
  • Report Format: PDF

Industry Trends

Aerospace Landing Gear Market size exceeded USD 18.6 billion in 2019 and is estimated to exhibit 4.9% CAGR from 2020 to 2026. Positive trends from private ownership firms with favorable investments will further support the industry demand. Growth in commercial aircraft owing to increasing air passenger traffic is the key feature driving the market.

Aerospace Landing Gear Market

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Increasing purchasing power of the consumer along with a preference for air travel due to superior safety will fuel the demand for new aircraft and aerospace landing gears. Aircraft manufacturers are continuously concentrating on reducing flight rates further attracting passengers who prefer air travel. Low commodity prices, stable GDP growth, and strong passenger demand are the key factors influencing product penetration. Rising affordability among the middle-income population for air travel with low airfares coupled with growth in the tourism sector will further support the industry expansion and strengthen demand for the market.

Rising defense budget with demand for next-generation military aircraft will positively boost the market growth. The replacement of in-service aircraft with fifth-generation aircraft is a significant trend in the aviation industry. Increasing defense budgets impelled by the requirement for R&D and military aircraft with advanced systems will spur the industry value. The U.S. defense budget accounted for over USD 616.2 billion in 2019. In addition, superior demand for military aircraft, particularly from the UAE, Saudi Arabia, South Korea, China, and India, with the purchase of advanced equipment will augment the market revenue.

Growing air passenger traffic is anticipated to foster commercial aircraft demand

The commercial aviation segment in the aerospace landing gear market valued at USD 15 billion in 2019 propelled by the substantial production of these aircraft worldwide. The aerospace sector is witnessing increasing demand for aircraft including B737, A350XWB, B787, and A320. Rising disposable income is resulting in shifting preference for air travel. The growing air passenger traffic in developing countries will further contribute to revenue generation. Moreover, COVID-19 has significantly impacted air traffic growth in 2020.

Increasing aircraft production capacity is likely to drive the revenue generation

Aerospace Landing Gear Market Size

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The OEM segment dominated around 60% of the aerospace landing gear market share in 2019. The rising aircraft production capacity of major manufacturers is sufficing the overall industry growth. Growing passenger fleet with affordability and development in lifestyle is inducing a positive impact on product growth. Tier 1 and Tier 2 aerospace industry players are improving the supply chain of major components and pursuing low-cost sourcing solutions. Industry participants are entering into long-term supply agreements with the aircraft manufacturers to reduce the overall airplane backlogs. There is an increasing demand for military aircraft by numerous countries to replace aging fighter aircraft.

Rising investments in new airport construction will create a need for MROs globally

According to the International Civil Aviation Organization (ICAO), with optimization of benefits and sustained growth, there is a requirement for modernized air transport facilities along with infrastructure. These needs result in increasing investments in new airport construction, which are expected to create significant opportunities for MROs service providers. In 2019, there were nearly 423 new airports under construction or planned, out of which around 220 projects are in Asia Pacific and 58 are in Europe. Additionally, China alone plans to construct around 200 airports by the end of 2035. Growing number of airports will require adequate facilities to repair and maintain aircraft landing gears.

North America is projected to hold a major revenue share backed by large aircraft production

North America Aerospace Landing Gear Market

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North America aerospace landing gear market led by the U.S. is poised to observe over 4.5% growth rate till 2026. In 2019, the U.S. alone produced more than 160 fighter aircraft and alone held over 40% of the global fighter aircraft production. Furthermore, prominent U.S. aircraft manufacturers, Boeing and Lockheed Martin witnessed a significant number of orders despite the COVID-19 pandemic. For example, in 2020, Boeing signed a contract with the U.S. Navy to provide three MQ-25 unmanned aerial refueling aircraft. The requirement to maintain global military supremacy and avoid security threats from other nations will enhance the aircraft demand.

The industry to showcase collaboration with aircraft manufacturers

With the increasing demand for fifth-generation fighter aircraft, many manufacturers are collaborating with fifth-generation aircraft manufacturers to provide their products in the future. The market is highly competitive with the presence of multiple small & large market players worldwide. Industry leaders are engaged in partnerships with aircraft manufacturers or with aircraft service providers to gain a competitive edge over other companies.

Some of the key companies operational in the aerospace landing gear market are Heroux-Devtek, Inc., Safran landing Systems, SPP Canada Aircraft, Inc., Triumph Group, UTC Aerospace Systems, Magellan Aerospace, Liebherr Group, Hawker Pacific Aerospace, GKN Aerospace, and Eaton Corporation, among others. Major industry participants are focusing on improving their presence in the aftermarket and MRO services markets.

This market research report on aerospace landing gear includes in-depth coverage of the industry with estimates & forecast in terms of volume in Units and revenue in USD million from 2016 to 2026 for the following segments:

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Market, By Position

  • Main LG
  • Nose/Tail LG

Market, By Arrangement

  • Tail Wheel
  • Tandem
  • Tri-cycle

Market, By Platform

  • Fixed Wing
    • OEM
    • MRO
  • Rotary Wing
    • OEM
    • MRO

Market, By Aircraft

  • Military
    • Fixed Wing
    • Rotary Wing
  • Commercial Aviation
  • General Aviation
    • Business Aviation
    • Regional Jets

Market, By Distribution Channel

  • OEM
  • MRO

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia
    • Netherlands
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • Qatar
    • UAE
    • South Africa
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The market for aerospace landing gears was pegged at USD 18.6 billion in 2019 and is estimated to witness over 4.9% CAGR up to 2026.

The industry share from the commercial segment had reached USD 15 billion in 2019 with the gradual expansion in aircraft production to cater to the rising air travel worldwide.

The OEM distribution channel held close to 60% of the aerospace landing gear market share in 2019 and will gain traction with increase in the demand for military aircraft across the globe.

North America aerospace landing gear industry size will record more than 4.5% CAGR over 2020-2026 owing to an increase in aircraft orders for manufacturers like Lockheed Martin and Boeing.

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 22
  • Tables & Figures: 354
  • Countries covered: 24
  • Pages: 300
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