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Aerospace Landing Gear Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, Spain, China, India, Japan, Australia, Brazil, Mexico, GCC, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

Report ID: GMI2343

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Aerospace Landing Gear Market size is anticipated to grow significantly from 2017 to 2024. Increasing aircraft deliveries from regional airliners, especially in MEA and Asia Pacific coupled with rising procurement of UAVs and fighter aircrafts for military programs will primarily drive the industry growth. Air passenger traffic has witnessed a continuous rise across the globe over the past years. This has led to high profitability of airline operators, resulting in high production of aircrafts, escalating the revenue generation for aerospace landing gear market size over the forecast timeframe.
 

Replacement of landing gear components of aging aircraft fleet by advanced products will further positively impact the industry growth. Aerospace modernization, stringent regulations regarding specifications of aircraft components, and environmental concerns have contributed significantly towards the retirement of old aircraft fleet. Aircraft manufacturers are investing heavily to adopt efficient and modernized aircraft systems for increasing the overall longevity and avoiding accidents & service failure.
 

Aircraft landing gears have high life-span and possess lesser probability to get damaged. This leads to reduction of overall replacement needs of the product, hampering the industry growth over the coming years. Technical issues related to new technology, long manufacturing processes, and stringent design constraints are anticipated to pose a challenge before industry participants.
 

Manufacturers are focusing on usage of lightweight materials for production of these landing gears. Increasing demand for lightweight landing gears is attributed to the benefits such as reduction of overall aircraft weight. Emergence of electric brakes is another trend that has gained prominence in the aerospace landing gear market. These brakes assist in easy landing and absorbing shocks. Prominent aircraft manufacturers including Boeing are installing these electric brakes for enhancing their product line.
 

By product, aerospace landing gear market is segmented into main and nose landing gears. Main landing gear is expected to capture maximum revenue share over the next eight years owing to their prominence in the overall support for aircraft take-offs and landings. Higher strength than its counterpart is another factor supporting the segment’s dominance.
 

Based on platform, the industry is segmented into fixed and rotary wing. Rotary wing is projected to grow substantially from 2017 to 2024. The high growth rate can be attributed to rising demand for helicopters, especially from military segment due to increasing usage for emergency medical services, critical missions, and transportation. Fixed wing will grow considerably over the coming years owing to its usage in UAVs and benefits such as longer flight autonomy and flight safety.
 

Aerospace landing gear market can be segmented based on applications into business, commercial, and military. Commercial sector is likely to capture significant industry share over the forecast timeframe owing to high deployment of landing gears in narrow body, wide body, and regional aircrafts. Rising demand of new aircrafts, especially from regional airline operators in emerging countries will further support the industry dominance. Increasing affordability of flights have led to substantial growth in air passenger traffic, further strengthening the product penetration.
 

By aircraft, the industry is segmented into narrow body, wide body, and regional aircrafts. Narrow body aircrafts will dominate the industry share over the forecast timeframe. Low-cost carriers have witnessed increased number of passengers, primarily driving the industry growth. Rising number of high density flights between prominent airports will further support the industry dominance.
 

North America aerospace landing gear market is anticipated to exhibit maximum revenue share owing to regular innovations in landing gears coupled with presence of major aircraft players such as Bombardier, Boeing, etc. Increasing military modernization programs across the region have resulted in high procurement of aircrafts such as UAVs and fighter jets, further supporting the region’s dominance.
 

Liebherr-International AG, AAR Corp., Safran S.A., Circor International, Inc., Magellan Aerospace Corporation, and Héroux-Devtek Inc. are among the noticeable participants in aerospace landing gear market. Other prominent players include United Technologies Corporation, Triumph Group Inc., SPP Canada Aircraft, Inc., Whippany Actuation Systems, and GKN Aerospace Services Ltd. Competitors are focusing on product transformations to offer cost-effective solutions for aircraft manufacturers.
 

Long-term agreements with suppliers is among prominent strategy adopted by the major players to strengthen their foot hold. For instance, in December 2015, Heroux-Devtek extended the supplier agreement with an aerospace systems manufacturer for development of landing gear components. In October 2017, the company signed an agreement to acquire a landing gear manufacturer, CESA to enhance its product line.
 


What Information does this report contain?

What was the historic market data from 2013 to 2016, what is the industry growth forecast from 2017 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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