September 2023 Research Report on Commercial Aircraft Landing Gear Market Research Report.
Commercial Aircraft Landing Gear Market Size is expected to reach USD 9.88 Billion by 2030, registering a CAGR of 17.8% during 2020-2030. The boom witnessed in the aviation industry is expected to fuel demand in the market over the next couple of years.
The surge in demand for lightweight aircraft has opened avenues of growth for the commercial aircraft landing gear industry leaders since it enhances aircraft performance and fuel efficiency. Additionally, the increased air traffic is another factor favoring the growth of the market. The exponential air traffic has paved the way for new entrants into the aviation industry coupled with demand for more aircraft from the existing airlines. This, in turn, is poised to fuel demand in the commercial aircraft landing gear market.
The growth of the aviation industry has intensified the need for advanced technologies and upgraded components. The landing gear being an important part of the aircraft is projected to witness demand in the foreseeable future. Nevertheless, technological challenges, design constraints, lengthy product development processes, etc. are prognosticated to hold the growth of the commercial aircraft landing gear market over the next couple of years.
By aircraft type, the global commercial aircraft landing gear market is segmented into wide body aircraft and narrow-body aircraft.
By aircraft model, the commercial aircraft landing gear market is segmented into B737, A330, A321, A320, A319, B767, B787, B777, B747, and A380.
By landing gear, the global commercial aircraft landing gear market is segmented into main landing gear and nose landing gear.
By region, the global commercial aircraft landing gear market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is expected to emerge as the global leader towards the end of 2021. The massive air traffic, profiting aviation industry, the presence of fast-developing economies, increase in disposable income, etc. have augured well for the market players in the region. Europe and the Middle East & Africa are important growth pockets in the market. The factors responsible for aiding the expansion of the market in the region include massive air traffic, investments in the airline industry, booming aviation industry, etc. North America is expected to witness moderate growth throughout the forecast period. It is estimated to strike a steady CAGR of 3% over the review period.
Some of the key players profiled by MRFR are Circor Aerospace, UTC Aerospace Systems, SPP Canada Aircraft, Triumph Group, AAR, Honeywell Aerospace, Megellan Aerospace, Heroux-devtek, Liebherr Group, messier-Bugatti-dowty, Merrill Technologies Group, and Whippany Actuation System.
In August 2018, Héroux-Devtek, Canadian aircraft landing gear manufacturer and MRO provider, named Duncan Aviation a distributor. It is one of the only five such locations worldwide.
In August 2018, the U.S. based Boeing unveiled its extendable main landing gear for Boeing 737-10 variant of the MAX family. It marks the beginning of a production and development ramp-up expected to culminate with the first flight in 2019.