PUBLISHER: The Business Research Company | PRODUCT CODE: 1249234
PUBLISHER: The Business Research Company | PRODUCT CODE: 1249234
Contact us about how to customize the report with add-on data.
“Commercial Aircraft Landing Gear Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on commercial aircraft landing gear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for commercial aircraft landing gear? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The commercial aircraft landing gear market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: AAR Corp (AAR); CIRCOR Aerospace, Inc.,; Heroux-Devtek Inc; Honeywell Aerospace; Liebherr Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Major players in the commercial aircraft landing gear market are: CIRCOR Aerospace, Inc., Heroux-Devtek Inc., Honeywell Aerospace, Liebherr Group, Magellan Aerospace Corporation, Safran Landing Systems, Triumph Group, Inc., Meggitt PLC, GKN Aerospace, Collins Aerospace, Eaton Corporation plc, Mecaer Aviation Group, Whippany Actuation Systems, and NMG Aerospace.
The global commercial aircraft landing gear market grew from $8.15 billion in 2022 to $8.57 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial aircraft landing gear market is expected to grow to $10.76 billion in 2027 at a CAGR of 5.9%.
The commercial aircraft landing gear market consists of sales of conventional, tandem and tricycle-type. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the commercial aircraft landing gear market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial aircraft landing gear report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main gear positions of commercial landing gears include main landing and nose landing. Main landing systems refer to land gear systems, which are located close to the center of gravity of the aircraft. The different aircrafts utilizing commercial landing gear include a fixed wing and rotary wing aircraft. The end-users of commercial aircraft landing gears are commercial and armed forces.
The growing demand for aircraft is expected to propel the growth of the commercial aircraft landing gears market. Aviation provides a rapid global transportation network, fostering economic growth, job creation, and promoting international trade and tourism. The increased passenger and freight air transport demand have 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 gears, as they are a vital component in each aircraft. For instance, in January 2022, in a report published by Airbus, an aerospace corporation, achieved 611 deliveries in 2021, which is 8% higher than 566 deliveries in 2020. Therefore, increasing demand for aircraft is expected to boost demand for commercial aircraft landing gears during the forecast period.
The advanced landing gear technologies are a key trend gaining popularity in the commercial aircraft landing gears market. The market is witnessing the implementation of advanced landing gear technologies to absorb and dissipate the kinetic energy of landing impact by enabling technologies such as retractable landing gear sub-systems, hydraulic systems, and controllers. With such technologies, landing gear aids commercial aircraft through a wheel braking and speed controlling system, that provides directional control of the aircraft. Major companies operating in the commercial aircraft landing gears market are focused on delivering technologically advanced solutions to strengthen their market position. For instance, In October 2020, an India-based Government agency, Defence Research and Development Organisation, developed the unmanned aerial vehicle retractable landing gear system. This system works on the five system framework such as shock struts, wheel brake and steering actuator, retraction and deployment mechanism, hydraulic system, and landing gear controller.
In September 2022, Parker-Hannifin, a US-based manufacturer of motion and control technologies, acquired Meggitt PLC for approximately $17.6 billion (£6.3 billion). The acquisition complements the company's portfolio and provide extended geographic footprint to the company. Meggitt is a UK-based manufacturer of landing gear, braking systems, and furl systems.
The countries covered in the commercial aircraft landing gear report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The commercial aircraft landing gears market research report is one of a series of new reports from The Business Research Company that provides Commercial aircraft landing gears market statistics, including commercial aircraft landing gears industry global market size, regional shares, competitors with a commercial aircraft landing gears market share, detailed commercial aircraft landing gears market segments, market trends and opportunities, and any further data you may need to thrive in the commercial aircraft landing gears industry. This commercial aircraft landing gears market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.