IMARC Group, a leading market research company, has recently releases report titled "Commercial Aircraft Landing Gear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032". The global commercial aircraft landing gear market size reached US$ 9.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032.
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Factors Affecting the Growth of the Commercial Aircraft Landing Gear Industry:
- Increasing Air Travel:
Airlines are expanding their fleets to meet the growing demand for air travel. As they acquire new aircraft to increase their capacity and serve more routes, they require corresponding landing gear systems to equip these aircraft. Moreover, airlines place orders with aircraft key players for new planes to modernize their fleets or expand their operations. Each new aircraft order represents a potential sale for landing gear manufacturers, as landing gear is an integral part of every aircraft. Besides this, with increasing air travel, the wear and tear on existing aircraft also accelerates. As older aircraft reach the end of their operational life or become less cost-effective to maintain, airlines retire them and replace them with newer models. This replacement cycle is creating demand for landing gear systems for the newly acquired aircraft.
- Technological Advancements:
The use of advanced lightweight materials, such as carbon fiber composites, titanium alloys, and advanced aluminum alloys in landing gear construction reduces the overall weight of the aircraft. Lighter landing gear translates to fuel savings and increased payload capacity, making aircraft more efficient and cost-effective to operate. Furthermore, landing gear systems equipped with advanced shock absorption technologies, such as oleo-pneumatic struts and adaptive damping systems, improve passenger comfort and aircraft safety during landing and taxiing. These systems also reduce wear and tear on aircraft structures, extending the lifespan of the aircraft and lowering maintenance costs.
- Expansion of Low-Cost Carriers (LCCs):
LCCs typically operate with a younger fleet compared to legacy carriers. As they are expanding their route networks and increasing flight frequencies to meet the growing demand for affordable air travel, LCCs often place large orders for new aircraft. This expansion is driving the demand for landing gear systems to equip these newly acquired planes. In addition, LCCs often operate with high aircraft utilization rates to maximize efficiency and profitability. The frequent takeoffs and landings associated with high-frequency, short-haul operations place greater stress on landing gear components, leading to increasing wear and tear. As a result, LCCs require more frequent landing gear maintenance, repair, and replacement services, contributing to the aftermarket segment of the landing gear market.
Key Players Operating in the Commercial Aircraft Landing Gear Industry:
- AAR Corp.
- Circor Aerospace Inc. (Circor International Inc.)
- Collins Aerospace (Raytheon Technologies Corporation)
- Héroux-Devtek Inc.
- Honeywell International Inc.
- Liebherr Group
- Magellan Aerospace Corporation
- Mecaer Aviation Group
- Revima Group
- Safran S.A.
- Sumitomo Precision Products Co. Ltd.
- Triumph Group Inc.
Commercial Aircraft Landing Gear Market Report Segmentation:
By Aircraft Type:
- Narrow-Body
- Wide-Body
- Regional Jet
- Others
Narrow-body represents the largest segment due to their versatility, efficiency, and suitability for short to medium-haul routes.
By Landing Gear Types:
- Main Landing Gear
- Nose Landing Gear
Main landing gear accounts for the majority of the market share as it bears the brunt of the aircraft weight during landing and takeoff, making it subject to higher levels of wear and tear compared to other landing gear components.
By Arrangement Type:
- Tricycle
- Tandem
- Tailwheel
Tricycle holds the biggest market share owing to its stability, safety, and operational advantages.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the commercial aircraft landing gear market on account of a burgeoning aerospace manufacturing sector.
Global Commercial Aircraft Landing Gear Market Trends:
Advancements in sensors, data analytics, and connectivity enable the development of smart landing gear systems capable of optimizing aircraft performance and operational efficiency. These systems can adjust landing gear parameters based on environmental conditions, runway characteristics, and aircraft weight, improving overall safety and reducing landing distances.
Additionally, emerging technologies like autonomous landing gear deployment and retraction systems and automated landing gear inspection and maintenance processes enhance operational efficiency and reduce the reliance on human intervention. These advancements streamline aircraft operations, reduce turnaround times, and improve overall fleet availability, thereby supporting the market growth.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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