Aircraft Landing Gear Market Size By Forecast 2030

The global aircraft landing gear market size was USD 9.88 billion in 2020 and is anticipated to grow from USD 10.79 billion in 2021 to USD 22.90 billion in 2028 at a CAGR of 17.9% during 2023-2028.

Information Source:-

https://www.fortunebusinessinsights.com/industry-reports/aircraft-landing-gear-market-101815

The report states that the market value stood at USD 10.69 billion in 2018. The other highlights of the report include:

• Comprehensive analysis of the major drivers and restraints influencing the market;
• In-depth study of the regional dynamics of the market;
• Microscopic research into the key players operating in the market and evaluation of their strategies; and
• Precise segmentation of the market and assessment of each individual segment.

Market Driver

Grave Safety Risks Posed by Conventional Landing Gear to Create New Growth Opportunities

Conventional landing gear, or tailwheels, consist of two wheels placed in a forward position relative to the center of gravity. They have been the most widely used landing gear in traditional airplanes and some older aircraft models and small airplanes still use them. However, these landing gear systems are extremely dangerous, posing grave risks to the safety of everyone aboard the aircraft. For example, tailwheel aircrafts are prone to a phenomenon known as “ground looping”, which occurs when the tail of the aircraft bypasses the center of gravity, causing the pilot to lose directional control of the plane. Being smaller in size, tires attached to tailwheel units can drop into holes in the ground and cause the propeller to trip over. To counter these disadvantages, airliners are increasingly incorporating electrically-controlled landing gear and anti-skid brake management systems to enhance reliability, accuracy, and safety of the aircraft. This shift towards next-generation technologies is auguring well for the aircraft landing gear market growth.

Regional Analysis

North America to Hold Lion’s Share in the Market; Asia-Pacific to Showcase Impressive Growth

The market size in North America stood at USD 4.15 billion in 2018 and the region is foreseen to dominate the aircraft landing gear market share in the forthcoming years. The main reason attributable to the region’s dominance is the presence of well-established OEMs that are making large investments in advanced aviation technologies and coming out with new-age solutions. In Asia-Pacific, the market is expected to grow at an impressive rate owing to the increasing delivery and sale of commercial and low-cost carriers in China and India.

Competitive Landscape

Exciting Collaborations to Infuse New Energy in the Market

The aircraft landing gear market report highlights that this market is poised to experience an exciting period of intense competition. This is because some of the leading companies are engaging in technological collaborations to diversify their offerings and deepen their hold on the market.

Industry Developments:

• January 2020: Collins Aerospace Systems teamed up with Magellan Aerospace Corporation under which Magellan will supply Collins nose landing gear units for the latter’s B737 aircraft fleet. Valued at around CAD 52 million, the deal will involve delivery of titanium components from Magellan’s Ontario facility.
• January 2019: Liebherr-Aerospace announced that it had commenced the 3D printing of components under its partnership with Airbus. The German aircraft manufacturer will begin supplying nose landing gear brackets for the Airbus A350 XWB.

List of Top Players Covered in the Report:

• AAR
• Alaris Aerospace
• CIRCOR International, Inc.
• GKN Aerospace Services Ltd.
• Hawker Pacific Aerospace
• Héroux-Devtek Inc.
• Liebherr-International AG
• Magellan Aerospace Corporation
• Safran SA
• SPP Canada Aircraft, Inc.
• Triumph Group, Inc.
• UTC Aerospace Systems