The global aircraft landing gear market demonstrated a robust size of USD 9.88 billion in 2020, projecting growth from USD 10.79 billion in 2021 to an anticipated USD 22.90 billion by 2028, boasting a remarkable CAGR of 17.9% during the forecast period of 2021-2028. The industry faced a challenging setback in 2020 due to the unprecedented impact of COVID-19, witnessing a negative demand shock globally. However, our analysis reveals a significant recovery with a sudden rise in CAGR attributed to heightened demand, promising a return to pre-pandemic levels post-pandemic.
Top Players Covered: Aircraft Landing Gear Market
AAR
Alaris Aerospace
CIRCOR International, Inc.
GKN Aerospace Services Ltd.
Hawker Pacific Aerospace
Héroux-Devtek Inc.
Liebherr-International AG
Magellan Aerospace Corporation
Safran SA
SPP Canada Aircraft, Inc.
Triumph Group, Inc.
UTC Aerospace Systems
Information Source:-
https://www.fortunebusinessinsights.com/industry-reports/aircraft-landing-gear-market-10181
The report, with a market value standing at USD 10.69 billion in 2018, features:
Comprehensive analysis of major market drivers and restraints.
In-depth study of regional market dynamics.
Microscopic research into key players and evaluation of their strategies.
Precise segmentation of the market and assessment of each segment.
Market Driver:
The shift towards next-gen technologies, such as electrically-controlled landing gear and anti-skid brake management systems, counters the safety risks posed by conventional landing gear systems. For instance, tailwheel aircraft, still used in some models, are susceptible to "ground looping," causing loss of directional control. The adoption of advanced technologies enhances reliability, accuracy, and safety, driving growth in the aircraft landing gear market.
Regional Analysis: Aircraft Landing Gear Market
North America, with a market size of USD 4.15 billion in 2018, is poised for dominance, fueled by well-established OEMs investing in advanced aviation technologies. In Asia-Pacific, rapid growth is anticipated, driven by increasing deliveries and sales of commercial and low-cost carriers in China and India.
Competitive Landscape: Aircraft Landing Gear Market Size
The aircraft landing gear market is witnessing exciting developments with leading companies engaging in technological collaborations to diversify their offerings and strengthen market presence.
Industry Developments:
In January 2020, Collins Aerospace Systems collaborated with Magellan Aerospace Corporation, securing a CAD 52 million deal for the supply of nose landing gear units for the B737 aircraft fleet.
In January 2019, Liebherr-Aerospace commenced 3D printing of components under its partnership with Airbus, supplying nose landing gear brackets for the Airbus A350 XWB.
This period anticipates a thrilling landscape of intense competition, driven by collaborative initiatives and technological advancements in the aircraft landing gear market.