Commercial Aircraft Landing Gear Market Report With Detailed Global Analysis And Forecast Of 2019-2024
The key players in global commercial aircraft landing gear market are CIRCOR AEROSPACE (US), Heroux-devtek (Canada), Liebherr Group (Switzerland), Safran (France), United Technologies Corporation (US), AAR (US), Honeywell International (US), Magellan Aerospace Corporation (Canada), GKN Aerospace (UK), and Triumph Group (US).
Commercial Aircraft Landing Gear Market – Overview
Aircraft landing gear is a critical aircraft component as it supports the entire weight of the aircraft during take-off and landing operations. As a result, the maintenance and repair of landing gears is of primary importance in order to ensure safe flight and on-ground aircraft operations. Moreover, in order to ensure an optimum aircraft operation, a desired ratio between the weight of the entire aircraft (along with the passengers and cargo) and the flight range of the aircraft should be maintained. In addition, in order to achieve fuel efficiency, there has been a growing demand for weight reduction that the landing gears need to achieve, during every take-off and landing operation. Furthermore, the growth Commercial Aircraft Landing Gear Market is initiated with the increasing R&D investments and rising technological advancements on the brake systems, steering systems, and actuation systems.
With the growing demand for global connectivity in the recent years, along with the rising demand for air travel, fuels the demand for aircraft, which simultaneously drives the market growth of the commercial aircraft landing gear systems. In addition, there have been a large number of aircraft deliveries, over the past few years, which propels the market growth. Concurrently, there are a large sum of aircraft orders that present promising opportunities for the market players. However, due to the high R&D costs along with the lack of safety regulations for aircraft landing gear, the growth of the global market is inhibited.
Industry/ Innovation/ Related News:
May 2018 - Héroux-Devtek signed a landing gear remanufacturing contract with AAR Corporation in Support of the US Air Force.
March 2017 – AAR Corporation signed a contract with IndiGo Airlines to provide MRO services for landing gear overhaul services.
October 2016 – HAECO Landing Gear Services and Cathay Pacific Airways signed a 10-year service agreement. According to the agreement, HAECO will provide maintenance support for the Boeing 777-300ER fleet. The agreement also includes operational and MRO support services for landing gear and components.
Commercial Aircraft Landing Gear Market – Segmentation
The global commercial aircraft landing gear market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Main Landing Gear, Nose Landing Gear.
Segmentation by Aircraft Type: Fixed-wing, Rotary-wing.
Segmentation by Platform: Commercial Aviation, Military Aviation, Business & General Aviation.
Segmentation by Regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Commercial Aircraft Landing Gear Market: Regional Analysis
According to the latest edition of International Air Transport Association (IATA)’s 20-Year Air Passenger Forecast, Asia-Pacific will witness a significant demand between 2015 to 2035, accounting for more than half of the global passenger traffic. China will replace the US as the world’s largest aviation market around 2024. It is also expected that India will have the third highest passenger traffic in 2025. Therefore, there would be a rise in the demand of new aircraft, leading to the simultaneous demand for aircraft landing gear systems.
There will further be scope and opportunities for the market players, especially in the emerging economies, across the globe. Aircraft landing gear OEMs also engage in provision of the in-house MRO services of the aircraft landing gear systems. Moreover, with the relaxation in stringent regulations in the aviation industry, rise in number of aircraft, and growing global connectivity, would also support the growth of the global market.
The global commercial aircraft landing gear market has been segmented into North America, Asia Pacific, Middle East & Africa, Europe, and Latin America. North America dominated the global market in 2017 and generates a very high demand for the commercial aircraft landing gears, across the globe. There are a number of OEMs who are present in the region, which boost the market growth.
Similarly, the Europe region includes the countries such as the UK, France, Germany, Italy, and Spain. In these countries, there is a very high demand for air travel and a subsequent large demand for aircraft. Moreover, it is expected that by 2035, the total number aircraft is expected to reach approximately 8,000 aircraft, which would significantly fuel the market growth. In addition, the presence of the leading aircraft landing gear manufacturers such as Liebherr Group, Safran, and GKN Aerospace along with the presence of the large aircraft OEM, Airbus, is expected to drive the market growth in the region.
Global Commercial Aircraft Landing Gear Market Report Information by Type (Main Landing Gear, Nose Landing Gear), Aircraft Type (Fixed-wing, Rotary-wing), by Platform (Commercial Aviation, Military Aviation, Business & General Aviation), & by Region - Forecast to 2023 @https://www.marketresearchfuture.com/reports/commercial-aircraft-landing-gear-market-1427