According to the latest report by IMARC Group, titled “Commercial Aircraft Landing Gear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global commercial aircraft landing gear market forecast.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global commercial aircraft landing gear market size reached US$ 8.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.29% during 2023-2028.
Commercial aircraft landing gears represent a set of devices that are used for providing suspension and support to the aircraft during taxiing, landing, and take-off. They generally consist of a brake system, shock absorbers, wheels, a turning system, an undercarriage retractile system, etc. Some of the common materials utilized in the manufacturing of aircraft landing gears include corrosion-resistant and ultra-high strength titanium alloys and aluminum composites. In line with this, they are lightweight, offer improved airplane mobility, and require low energy consumption. These gears also facilitate braking and direction control via an integrated aircraft support system. Consequently, they minimize the impact loads that are transmitted to the airframe.
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What Are The Key Factors Driving In The Commercial Aircraft Landing Gear Market?
The growing demand for low-cost and ultra-low-cost carriers is primarily driving the commercial aircraft landing gear market. Additionally, continuous technological advancements, extensive R&D activities, and the introduction of new airline services are further catalyzing the market growth. Besides this, the rising popularity of military unmanned aerial vehicles (UAV) and the widespread adoption of modern-generation commercial aircraft are acting as significant growth-inducing factors.
Moreover, the inflating need for routine landing gear maintenance and replacements, owing to the increasing passenger air traffic, and the introduction of lightweight aircraft suspension systems are positively influencing the global market. Apart from this, these gears are usually powered by hydraulic or pneumatic systems, which is also stimulating the market growth. Furthermore, strategic partnerships and collaborations by key market players to facilitate service in geographically extended locations, which is anticipated to fuel the commercial aircraft landing gear market over the forecasted period.
Who Are The Key Players/Companies In The Global Commercial Aircraft Landing Gear Market?
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. and Triumph Group Inc.
The report has been segmented the market into following categories:
Breakup by Aircraft Type:
- Regional Jet
Breakup by Landing Gear Types:
- Main Landing Gear
- Nose Landing Gear
Breakup by Arrangement Type:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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