Global Aircraft Gearbox Market Overview
Aircraft Gearbox Market In On A Valuation Of 2.6 Billion By 2030, Global Market Is Likely To Grow at a Global CAGR Of 4.12% by 2020-2030
A gearbox is the component of a transmission system of aircraft gearbox placed along with shafts for changing rotational speed. In aircraft transmissions, a gearbox is used for reducing or increasing the speed at different points. Gearboxes have applications in military aircraft, commercial aircraft, helicopters, and business and general aviation.
Market Synopsis
Global Aircraft Gearbox Market is expected to register significant growth during the forecast period owing to factors such as the increasing number of aircraft deliveries and the growing demand for lightweight aircraft components. Furthermore, the growing investments in geared turbofan engines are also expected to drive the growth of the market. Additionally, the increasing contracts between companies such as SKF and the United Technologies Corporation are also expected to drive the growth of the market. For example, in March 2019, United Technologies Corporation and SKF signed a contract to deliver roller bearings, ball bearings, and main shaft bearings for United Technologies Corporation’s aerospace business.However, issues related to spalling, frosting and manufacturing defects, and high cost of development might hamper the growth of the market.
Market USP
The introduction of 3D printing for manufacturing aircraft parts helps reduce the cycle time of the manufacturing process. Additionally, complex aircraft parts such as gearboxes, fairings, doors, and others can be easily manufactured using 3D printing technology. This is expected to contribute to market growth during the forecast period.
Market Drivers
- Increasing air traffic
- Growing demand for new aircraft: The increasing demand for new aircraft owing to the rising air passenger traffic and airborne trade activities across the world.
- Rising demand for lightweight aircraft components
Market Restraints
- Issues related to spalling, frosting and manufacturing defects
- High cost of development
- Use of turboprop engines at high altitudes
Market Segmentation
By End-User
- OEM The segment dominated the market during the review period. The rising demand for new aircraft is expected to drive the demand for OEM aircraft gearbox in the global market.
- Aftermarket The segment is expected to grow at a higher CAGR during the forecast period, 2020 to 2026, owing to the large global aircraft fleet in operation is driving the demand for aftermarket for services for aircraft gearbox.
By Aircraft Type
- Civil Aircraft The segment dominated the market in 2019 and is expected to grow at the highest CAGR during the forecast period. The increasing commercial aircraft orders due to the rising air cargo across the world and rising air passenger traffic are expected to drive the growth of the segment.
- Military Aircraft The segment is expected to grow with a significant CAGR during the forecast period, 2020 to 2026, owing to the growing military expenditure of countries such as China and India.
By Component
- Gears The segment dominated the market in 2019 and is expected to grow at the highest CAGR during the forecast period, as they are used to transmit rotations and forces from the driving shaft to the driven shaft, which is expected to drive the growth of the segment.
- Housing The segment is expected to grow as housing components offer safety to interior mechanisms.
- Bearing The segment is expected to grow with a significant CAGR during the forecast period, 2020 to 2026, as bearings constrains relative motion to only the desired motion and reduces friction between moving parts.
- Others The others segment includes components such as the shafts, couplings, and covers.
By Region
- North America North America dominated the global aircraft gearbox market in 2019 due to the presence of prominent companies such as Raytheon Technologies Corporation and Rexnord Corporation.
- Europe The presence of prominent aircraft OEMs such as Airbus S.A.S is expected to drive the market growth in the region.
- Asia-Pacific The market in this region is projected to register the highest CAGR during the forecast period. The growing aviation industry in China, Japan and India is expected to increase the demand for aircraft gearbox in the region.
- Rest of the World Increasing aircraft deliveries in Gulf countries, Brazil, and South Africa are expected to increase the demand for aircraft gearbox in the region. Additionally, increasing investment by prominent airlines such as the Qatar Airlines and the Emirates Group in aircraft gearbox is expected to drive the market growth in the region.
Key Players
- Safran (France)
- Liebherr (Germany)
- Raytheon Technologies Corporation (US)
- Rexnord Corporation (US)
- Triumph Group (US)
- Rolls-Royce plc (UK)
- PBS Group, a. s. (Czech Republic)
- CEF Industries, LLC (US)
- AERO GEAR (US)
- ZF Luftfahrttechnik GmbH (Germany)
Other Prominent Players
- Avion Group (Netherlands)
- Northstar Aerospace (US)
- AeroControlex (US)
- AERO GEARBOX INTERNATIONAL (UK)
- SKF (Sweden)
- Aviop.A. (Italy)
Recent Development
Safran and Liebherr: These remain the top players, but unfortunately, specific recent developments aren't readily available in public news sources. These companies likely focus on continual improvement and may not announce them widely.
Triumph Group: In October 2020, they secured a contract to supply spare high-speed gearboxes for Lockheed C-5 Galaxy aircraft US military transport plane
Report Attribute/Metric
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Details
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Market Size
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2030: 2.6 Billion
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CAGR
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4.12% (2020-2030)
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Base Year
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2019
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Forecast Period
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2030
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Historical Data
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2018
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Forecast Units
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Value (USD Million)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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End User, Gearbox Type, Component, Application
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Geographies Covered
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North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Vendors
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Safran (France),Liebherr (Germany), Raytheon Technologies Corporation (US) Rexnord Corporation (US), Triumph Group (US), Rolls-Royce plc (UK),PBS Group, a. s. (Czech Republic), CEF Industries, LLC (US), AERO GEAR (US), ZF Luftfahrttechnik GmbH (Germany)
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Key Market Opportunities
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High cost of development
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Key Market Drivers
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Increasing air traffic. Growing demand for new aircraft. Rising demand for lightweight aircraft components
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Aircraft Gearbox Market Highlights:
Frequently Asked Questions (FAQ) :
Global aircraft gearbox systems market is projected to register a moderate 4.12% CAGR by 2020-2030
The civil segment is expected to observe substantial demand over the review period.
The gears aircraft segment is expected to secure the highest CAGR.
The OEM segment is slated to expand as the fastest-growing segment.
A few emminent market players operating in the global aircraft gearbox systems market are Safran (France), Liebherr (Germany), Raytheon Technologies Corporation (US), Rexnord Corporation (US), and others.
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