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Aircraft Landing Gear Market Overview:
The Aircraft Landing Gear Market is poised for significant growth, fueled by a confluence of factors including rising global air traffic, increasing demand for new aircraft, and the ongoing modernization of existing fleets. This report by SNS Insider examines the market’s current landscape, future projections, and key growth drivers shaping this crucial aviation segment.
The SNS Insider report estimates that the Aircraft Landing Gear Market, valued at USD 7.21 billion in 2023, will reach USD 10.63 billion by 2031, reflecting a robust CAGR of 4.9% from 2024-2031.
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Major Key Players Included are:
- CIRCOR Aerospace
- Safran SA
- Heroux-Devtek
- Messier-Bugatti-Dowty
- UTC Corporation
- Liebherr Group
- Raytheon Technologies Corporation
- Honeywell International Inc
- AAR Corporation
- Meggitt PLC, and other players.
Rising Demand for New Aircraft and Fleet Modernization
The increasing number of air passengers globally necessitates the expansion and modernization of airline fleets. Airlines are actively acquiring new, fuel-efficient aircraft to cater to rising demand and replace older models. This surge in aircraft production translates directly into a growing demand for landing gear systems, propelling the market forward.
Rising air travel demand translates to higher production rates for commercial aircraft. This directly influences the demand for landing gear systems, creating a synergistic relationship between the two sectors. Aging aircraft require replacement with newer, more fuel-efficient models. This ongoing process creates a consistent demand for new landing gear systems, driving market growth. In 2023 alone, Boeing and Airbus collectively delivered over 1,200 aircraft, surpassing their previous year’s figures. This sector has attracted significant investments, with companies developing innovative air vehicles requiring specialized landing gear solutions. This burgeoning market presents new opportunities for landing gear manufacturers. Increased global security concerns are prompting countries to invest in modernizing their military aviation fleets.
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Segment Analysis:
- By Aircraft Type: Fixed-wing aircraft, encompassing commercial aviation, military aviation, and business jets, dominate the market due to their widespread use and higher production volumes compared to other types.
- By End User: The Original Equipment Manufacturer (OEM) segment held the largest share in 2023 due to the direct sale of landing gear systems on new aircraft. Rising demand for new airplanes driven by factors like increasing air traffic and fleet modernization fuels this segment.
KEY MARKET SEGMENTATION
By Aircraft Type
- Fixed Wing
- Rotary Wing
By Type
- Main Landing Gear
- Nose Landing Gear
By End User
- OEM
- Aftermarket
By Sub-Framework
- Actuation System
- Steering System
- Brake System
- Others
Impact of Global Disruptions
The Aircraft Landing Gear Market is not immune to global events. The ongoing Russia-Ukraine war has caused disruptions in supply chains and increased material costs, potentially impacting landing gear production.
An economic slowdown could lead to a decrease in consumer spending and business investments, potentially slowing down aircraft deliveries and impacting the demand for new landing gear systems. However, long-term growth prospects remain positive, driven by the underlying trend of rising air traffic and the need for fleet modernization.
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North America is estimated to hold the largest market share throughout the forecast period, driven by a robust ecosystem that fosters continuous growth:
The region boasts a well-established aviation industry with a high concentration of major airlines like Boeing, Delta Air Lines, and United Airlines. This translates to a consistent demand for landing gear systems, both for new aircraft and fleet upgrades. North American airlines prioritize modernizing their fleets with newer, fuel-efficient models. This ongoing process creates a steady stream of demand for replacement landing gear systems.
The European market for aircraft landing gear is anticipated to experience moderate growth. European companies such as Airbus and Leonardo are major players in the global commercial aircraft market. This translates to a strong demand for landing gear systems within their supply chains. These European OEMs cater to a wide range of airlines worldwide, further expanding the market reach for European-made landing gear systems.
Recent Developments
The market is witnessing continuous advancements and partnerships:
- February 2024: Liebherr(Switzerland) signed an agreement with Japan Airlines to overhaul the landing gear systems of J-Air’s Embraer fleet.
- September 2023: Safran entered into a contract with Bell to design and develop the landing gear system for its tiltrotor aircraft program as part of the US Army’s FLRAA project.
- May 2022: Safran (France) partnered with Magellan Aerospace Corporation (US) to manufacture landing gear systems for commercial aircraft platforms.
Key Takeaways:
- The market is fueled by a confluence of factors, including rising global air traffic necessitating fleet expansion, ongoing fleet modernization initiatives to replace aging aircraft, and the burgeoning Urban Air Mobility (UAM) sector demanding innovative landing gear solutions.
- Stringent safety regulations and a constant drive for efficiency are pushing the boundaries of landing gear design. Advancements in materials, manufacturing techniques, and overall functionality are shaping the future of this critical aircraft component.
- While short-term disruptions like the Russia-Ukraine war may cause temporary fluctuations, the long-term outlook for the Aircraft Landing Gear Market remains optimistic.
- This report by SNS Insider serves as a comprehensive resource for stakeholders across the aircraft landing gear industry value chain, including manufacturers, airlines, regulatory bodies, and investors.
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Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- COVID-19 Impact Analysis
- Impact of Ukraine- Russia war
- Impact of ongoing Recession
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Aircraft Landing Gear Market, By Aircraft Type
- Aircraft Landing Gear Market, By Type
- Aircraft Landing Gear Market, By End User
- Aircraft Landing Gear Market, By Sub-Framework
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Conclusion
About Us:
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