WorldWide Aerospace Landing Gear Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Aerospace Landing Gear Market

Industry / Sector Trends

Aerospace Landing Gear Market size was valued at over USD 14 billion in 2017 and is estimated to exhibit over 6% CAGR from 2018 to 2024.
 

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Market Segmentation, Outlook & Regional Insights: Aerospace Landing Gear Market

 Aerospace Landing Gear Market, By Position, 2013-2024, (Units)

 

Proliferating aircraft production and deliveries across the globe owing to rising air passenger traffic along with increasing aircraft procurement for military sector are driving the aerospace landing gear market share over the forecast timeframe. Replacement of landing gear components of the ageing fleet will further boost the industry share till 2024.
 

Stable GDP growth, lower commodity price, and strong air passenger demand are the key factors positively influencing the product penetration till 2024. Proliferating tourism sector coupled with increasing disposable income mostly in the developing economies will further support the aerospace landing gear market expansion over the study timeframe.
 

Rising defence and military budget along with the increasing demand for advanced aircrafts will boost the aerospace landing gears business growth over the forecast timeframe. Replacement of in-service aircrafts with advanced lightweight portfolio and overhauling activities of existing components are the key trends in the aviation industry, supporting the revenue generation over the projected timeframe.
 

Industry participants are continuously investing in R&D for improving the product and complying them with the stringent government regulations. Most manufacturers are incorporating innovative materials for manufacturing landing gears including aluminium and composites to reduce the system weight and increase efficiency significantly. Moreover, the introduction of advanced tools and equipment including RFID tags, wireless sensor networks, and structural health monitoring systems will further provide a positive outlook for the industry growth.
 

However, the complex design and development involved in manufacturing landing gears along with high MRO expenses may hamper the aerospace landing gear market share over the projected timeframe. Adherence to government regulation, lower volume and weight requirements along with focus on reducing the overall costs will pose significant challenges to engineers and designers. The increased MRO expenses owing to frequent wear and tear of components may limit the market expansion. However, the introduction of light weight materials and smart health monitoring techniques will address the issues significantly, providing a positive outlook for the industry growth.
 

Aerospace Landing Gear Market, By Position

Main landing gear accounted for over 65% volume share in 2017 and will continue its dominance owing to high adoption of the gear in all types of aircrafts for carrying over 85% of the overall aircraft weight. Improved supply chain facilities along with developing long-term partnerships with clients for efficient sourcing of components are playing a major role in strengthening the segment share till 2024.
 

Nose/Tail landing gear showcased a significant growth rate of around 4.5% from 2018 to 2024. This growth can be attributed to the requirement of the gear for steering the aircraft. The provision of enhanced steering facilities during taxiing by utilizing hydraulic and electric power, along with the incorporation of high-performance shock struts engaged with internal metering tubes will support the product proliferation over the projected timeframe.
 

Aerospace Landing Gear Market, By Arrangement

Tricycle segment accounted for 12,221 units in 2017 and is projected to continue its dominance till 2024. This dominance can be credited to the predominant usage of such wheel arrangement in commercial aircrafts. The improved stability while landing operations along with enhanced centre of gravity will further support the segment dominance.
 

Aerospace landing gear market from tail wheel arrangement was valued at more than USD 2.45 billion in 2017 and will continue to dominate till 2024 owing to the increasing demand for military aircrafts and sail planes. The lower weight of the system along with providing advanced vertical take-off capabilities will strengthen the segment dominance till 2024.
 

Aerospace Landing Gear Market, By Platform

Fixed wing segment accounted for over 70% revenue share in 2017 and is expected to continue its dominance over the forecast timeframe. This can be attributed to the increasing aircrafts demand across various sectors including regional, commercial, general, and military. The proliferation of long-distance travel aircrafts owing to improved tourism sector along with improved efficiency will strengthen the segment share till 2024.
 

Rotary wing segment will showcase significant growth rate at around 8.5% from 2018 to 2024. This growth can be attributed to the increased demand of helicopters for several military applications including surveillance, emergency services, and special purpose combat operations. The proliferation of helicopters for short distance travel and sightseeing are further supporting the revenue generation over the projected timeframe.
 

Aerospace Landing Gear Market, By Aircraft

Commercial aviation accounted for over 58% volume share in 2017 and will dominate the segment share till 2024. This can be attributed to the increasing production of commercial aircrafts for meeting the growing air passenger demands. The introduction of low-cost carriers along with the proliferation of narrow body aircrafts are further expanding the aerospace landing gears market share over the study timeframe.
 

General aviation will showcase considerable growth rate at approximately 6.3% from 2018 to 2024. This growth can be credited to the increasing demand for business and regional jets across the region. The introduction of several ownership programs including fractional and timeshare ownership enables easier ownership of such aircrafts providing a positive outlook for the industry growth.
 

Aerospace Landing Gear Market, By Distribution Channel

OEM dominates the aerospace landing gear market with over 65% revenue share in 2017. The dominance is projected to continue over the projected timeframe owing to the improving supply chain of major components and low sourcing solutions. Long term supply agreements with aircraft manufacturers for reducing airplane order backlog along with increasing air passenger traffic will further contribute to the aerospace landing gears business expansion till 2024.

 

MRO will grow significantly at around 7.5% CAGR over the study timeframe owing to the increasing aircraft fleet size and the requirement for regular maintenance of components due to high wear and tear. The setup of MRO facilities at locations with affordable labour along with higher profit margins associated with operations will further support the segment growth over the projected timeframe.
 

Aerospace Landing Gear Market, By Region

North America dominated the aerospace landing gear market with over 55% volume share in 2017 due to presence of major aircraft manufacturers. The presence of multiple airports handling air passenger and freight traffic along with introduction of light weight components for enhancing the efficiency will further strengthen the regional dominance till 2024.
 

Asia pacific aerospace landing gear market place will grow with approximately 5.7% CAGR over the projected timeframe. This growth can be attributed to the proliferating air traffic across the region. Emergence of low-cost carriers along with increasing affordability and improving tourism sector will further support the regional growth over the study timeframe.
 

Key Players, Recent Developments & Sector Viewpoints: Aerospace Landing Gear Market


Major aerospace landing gear market players include GKN Aerospace Services, Safran Landing Systems, AAR Corporation, Liebherr Group, Triumph Group, and Eaton Corporation. Other notable players include SPP Canada Aircraft, Whippany Actuation Systems, CIRCOR Aerospace, Magellan Aerospace Corporation, Heroux-Devtek Inc, UTC Aerospace Systems, and Aerospace Turbine Rotables. Industry participants are engaged in attaining long term agreements with aircraft fleet owners and manufacturers for enhancing market share. For instance, in 2018, The Safran Group signed a long-term agreement with AirAsia for providing landing gear MRO services for its entire fleet.

 

Industry Viewpoint

 

 

Aerospace landing gears enable aircraft landing and take-off operations. The system comprises of brakes, shock absorbers, warning devices, sensors, and structural members, and retraction mechanism for ensuring passenger safety. Major regulatory bodies including the Civil Aviation Safety Authority and the Federal Aviation Authority regulates the aerospace landing gears market place and provides several standards for ensuring safety and emission norms providing a positive outlook for the industry growth. However, high maintenance costs along with complex design and development challenges may hamper the industry growth till 2024.

 

 



Key Insights Covered: Exhaustive Aerospace Landing Gear Market
1.  Market size (sales, revenue and growth rate) of Aerospace Landing Gear industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Aerospace Landing Gear industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aerospace Landing Gear industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Aerospace Landing Gear industry.

Research Methodology: Aerospace Landing Gear Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.