Commercial Aircraft Landing Gear Market – Overview:
Any pilot would agree to the fact that flying a plane is impossible without proper landing gear. They are the most crucial element of an airplane and act as a supporting system. It is the landing gears that take the entire burden of the aircraft during landing or takeoff. Landing gear is also popular known as nose landing gear or undercarriages. In recent times, there has been a drastic upswing in the demand for safe aircraft parts. Resultantly, the global commercial aircraft landing gear market is gaining momentum.
Over the years planes have proved themselves as one of the safest, quickest and convenient means of travel. But for the “safety” part, appropriate landing gears are of utmost importance. It is these small, insignificant looking parts that make the plane completely safe to be operated.
Presently, the aviation industry is undergoing a lot of development. Due to this, it can be positively exclaimed that the global commercial landing gear market will witness tremendous growth in the coming years. It is anticipated that the industry will generate a profit of around USD 5.6 billion. In terms of CAGR, the market will develop at the rate of 5.8%.
There are many factors that contribute to the growth of this market. One of the major reasons responsible for the market’s development is the increasing fleet size. It is because the airplane companies are investing heavily to expand their fleet size so that they can stay ahead in the competitive market.
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Major Key Players
Some of the key players in the Global Commercial Aircraft Landing Gear Market are Circor Aerospace, Heroux-devtek, Liebherr Group, messier-Bugatti-dowty, UTC Aerospace Systems, AAR, Honeywell Aerospace, Megellan Aerospace, Merrill Technologies Group, SPP Canada Aircraft, Triumph Group, and Whippany Actuation System.
As per the MRFR analysis, the EMEA region will continue its dominance in the forecast period to reach billion, to grow at a CAGR of 8%. Whereas, APAC and Americas will significantly grow at a CAGR of 12% respectively during the forecast period.
At present, there is a lot of research that is underway to develop new and much more efficient landing gears. Commercial aircraft landing gear market experts revealed that a brand new range of gears are under production. Controllable fluid devices like Magnet archeological and Electroheo logical shock absorbers are being used for making them. It is said that these gears will be far more powerful than the current ones. They will be feasible, economic & robust characteristically.
The worldwide commercial aircraft landing gear market has been split into six distinct parts. They are aircraft models, geographies, landing gear types, components & aircraft types.
On the basis of aircraft models, the market is segmented into A380, B777, B737, A320, A330, B767, B747, A321 & B787.
Geographically, the market has been branched into various regions like North America, Asia Pacific, Europe & Rest of the World.
On account of landing gear types, the market is bifurcated into nose gear landing gear & main landing gear. Out of these, nose gear landing sub-segment grabs the larger market share.
Lastly, when it comes to aircraft types, the market is divided into narrow body aircraft & wide body aircraft.
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Asia had the largest share of the global commercial aircraft landing gear market in 2016. It is an emerging region in the long-haul international market and it relies heavily on the small and medium wide-body aircraft. As a result, a number of such airlines have been entering into service, recently such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia. It is expected that by 2035, more than 16,000 aircraft would be delivered in the region.
The emerging markets have emerged as the driving force for the aviation market. Africa, South America, and the APAC region are expected to have the highest growth rate in air passenger traffic in the coming years. The aircraft fleet has also been growing rapidly in the APAC and EMEA. Thus, increasing demand from such emerging markets has been one of the major factors driving the growth landing gear market.
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