IMARC Group has recently released a new research study “Commercial Aircraft Landing Gear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Commercial Aircraft Landing Gear Industry?
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.
What Is A Commercial Aircraft Landing Gear?
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.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Aircraft Type:
- Narrow-Body
- Wide-Body
- Regional Jet
- Others
Breakup by Landing Gear Types:
- Main Landing Gear
- Nose Landing Gear
Breakup by Arrangement Type:
- Tricycle
- Tandem
- Tailwheel
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Enhancing worldwide financial conditions has prompted persistent increment in air traffic in the course of recent years.
The aircraft landing gear bolsters the whole weight of the airplane amid landing, take-off, as well as when parked.The rising necessitates of worldwide connectivity combined with fare cut of air transport is considered to fuel the need for aircraft, which thus is anticipated to boost the worldwide aircraft landing gear market growth.
In an attempt to triumph over these obstructions, several players all over the value chain, from raw material suppliers & OEMs to the component, have started building up new business procedures to profit from the quick globalization of the industry.Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124657/Aircraft-Landing-Gear-MarketAmong other regions, North America is considered to be foreseeing a noticeable revenue generating in the aircraft landing gear market.
Europe is anticipated to see a comparatively quicker development in the approaching years.
In the Asia Pacific, India and China are anticipated to develop at noteworthy rates owing to growing disposable incomes and rising middle class in this region, which thusly propels the expansion of the regions aircraft landing gear market.Airplane producers are presently utilizing electronic technologies, lightweight materials, and fresh innovative solutions without compromising on quality for improving the general aircraft performance amid touchdown and decreasing the aircraft downtime.
As innovatively propelled control systems are presently progressively supplanting physically controlled hydraulic and also mechanical systems, the competition amid the industry occupants present all over the value chain is expanding at an impressive rate.Request For Report TOC: https://www.researchreportinsights.com/report/TOC/120124657/Aircraft-Landing-Gear-MarketLanding gear makers are considerably expanding investments in new touchdown sets for trade purposes.
