The aircraft landing gear market size has grown rapidly in recent years. It will grow from $13.31 billion in 2023 to $14.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed in the historic period can be attributed to several factors, including the increased adoption of lighter and more durable landing gears, rising raw material costs, a surge in air travel, robust economic growth in emerging markets, and escalated military expenditure.
The aircraft landing gear market size is expected to see rapid growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. Forecasted growth driven by increased passenger air traffic, urbanization, and demand for fighter jets in developing nations. Key trends include 3D printed landing gears, active landing gear tech, facility expansions, new tech solutions, mergers, advanced gear tech, partnerships, strategic investments for portfolio expansion.
The growth of the aircraft landing gear market is expected to be propelled by the increasing procurement of modern-generation aircraft. This trend is driven by the rising global demand for both commercial and cargo aircraft, coupled with significant investments in defense equipment across various countries. The surge in demand for landing gear components is a direct result of the increasing fleet of modern-generation aircraft, contributing to the overall expansion of the aircraft landing gear market. An illustrative example is the July 2021 order placed by United Airlines, a US-based airline company, for a combined total of 270 Airbus and Boeing narrow-body jets, comprising 200 737 Max and 70 A321neos. The procurement of such modern-generation aircraft serves as a driving force behind the growth of the aircraft landing gear market.
Government support is identified as a key factor expected to drive the future growth of the aircraft landing gear market. Governments worldwide are actively engaging in efforts to raise public awareness and foster development in the air travel market, influencing the overall expansion of the aircraft landing gear market. A concrete example is the Russian Government's planned investment of RUB237 billion ($3.1 billion) in March 2023 to support the self-regulating sector, specifically aimed at preserving and developing regional aviation in the Arctic. This initiative encompasses projects for aircraft construction in 2023 and the preservation and enhancement of regional aviation in the Arctic zone. Additionally, in June 2022, the Russian Government announced a substantial investment of over $14 billion in the aviation industry by the end of the decade, with a focus on boosting domestic aircraft production. The goal is to achieve 81% domestic production for aircraft operated by Russian Airlines by 2030. The support provided by governments is anticipated to play a significant role in fueling the expansion of the aircraft landing gear market.
A prominent trend in the aircraft landing gear market is the pursuit of technological advancements by industry players. Companies are placing a strong emphasis on developing innovative landing gear solutions characterized by lighter weight and reduced complexity. An example of this trend is evident in the efforts of Metro Hop, a US-based electric airplane company. In April 2021, the company showcased its concept of Active Landing Gear, featuring electric motors in each wheel. This new system has the capability to shorten the takeoff and landing runs of electric airplanes, contributing to enhanced operational efficiency. The lower power requirements and simplified design not only improve performance but also allow for a reduced takeoff weight, creating additional capacity for passengers or cargo.
A transformative trend in the aircraft landing gear market is the adoption of 3D printing technology. This innovation is expected to revolutionize the design and manufacturing of landing gear components. 3D printing enables manufacturers to produce intricate landing gear parts with high precision, leading to a reduction in material waste and production costs. The industry anticipates continued exploration of new applications for 3D printing in landing gear design, including the incorporation of novel materials and advanced sensors. Safran, a France-based aircraft manufacturing company specializing in rocket engines, exemplified this trend by utilizing Selective Laser Melting (SLM) Solutions technology. In April 2021, Safran employed 3D printing to produce a component for the nose landing gear of a business jet, showcasing the technology's potential in creating titanium components for landing gear systems. The adoption of 3D printing is poised to bring about transformative changes in the way landing gear components are conceived and manufactured within the aircraft landing gear market.
In August 2021, The Precision Aviation Group, Inc., a USA-based provider of aerospace and defense industry products and services, acquired Trace Aviation, Inc. for an undisclosed sum. This acquisition augments Precision Aviation's landing gear Maintenance, Repair, and Overhaul (MRO) capabilities and substantially broadens the product and service portfolio available to Precision Aviation's existing customer base. Trace Aviation, Inc., also based in the USA, specializes in the innovative exchange overhaul of landing gear components within the aviation sector.
Major companies operating in the aircraft landing gear market report are Safran S.A., Raytheon Technologies Corporation, Heroux-Devtek Inc., Melrose Industries PLC, Parker Hannifin Corporation, Triumph Group Inc., Liebherr-International AG, Sumitomo Precision Products Co. Ltd., AAR Corp., Eaton Corporation, Aircraft Landing Gear Co. Ltd., AMETEK Instruments Pvt Ltd., SPP Nagasaki Engineering Co. Ltd., Kawasaki Aerospace Company, AVIC Aircraft Landing Gear Co. Ltd., Commercial Aircraft Corporation of China Ltd., Meggitt PLC, Airbus S.A.S, ZF Luftfahrttechnik, ThyssenKrupp AG, United Aircraft Corporation, IRKUT Corporation, PZL Warszawa, Sukhoi, KF Aerospace, Circor International Inc., Collins Aerospace, Magellan Aerospace Corporation, Boeing Co.
North America was the largest region in the aircraft landing gear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aircraft landing gear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of aircraft landing gear encompass the main landing gear and nose landing gear. The main landing gear is responsible for absorbing landing impact energy to minimize stress on the airframe. Comprising two or more large wheels near the aircraft's center of gravity, it necessitates a third-wheel assembly to support the tail due to its forward positioning relative to the center of gravity. Aircraft types include fixed-wing and rotary-wing platforms for end users, including both Original Equipment Manufacturers (OEM) and aftermarket sectors.
The aircraft landing gear market research report is one of a series of new reports that provides aircraft landing gear market statistics, including aircraft landing gear industry global market size, regional shares, competitors with aircraft landing gear market share, detailed aircraft landing gear market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft landing gear industry. This aircraft landing gear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The aircraft landing gear market consists of sales of tricycles, tail-wheel (conventional), pontoons, and skis landing gears. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft landing gear market size is expected to see rapid growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. Forecasted growth driven by increased passenger air traffic, urbanization, and demand for fighter jets in developing nations. Key trends include 3D printed landing gears, active landing gear tech, facility expansions, new tech solutions, mergers, advanced gear tech, partnerships, strategic investments for portfolio expansion.
The growth of the aircraft landing gear market is expected to be propelled by the increasing procurement of modern-generation aircraft. This trend is driven by the rising global demand for both commercial and cargo aircraft, coupled with significant investments in defense equipment across various countries. The surge in demand for landing gear components is a direct result of the increasing fleet of modern-generation aircraft, contributing to the overall expansion of the aircraft landing gear market. An illustrative example is the July 2021 order placed by United Airlines, a US-based airline company, for a combined total of 270 Airbus and Boeing narrow-body jets, comprising 200 737 Max and 70 A321neos. The procurement of such modern-generation aircraft serves as a driving force behind the growth of the aircraft landing gear market.
Government support is identified as a key factor expected to drive the future growth of the aircraft landing gear market. Governments worldwide are actively engaging in efforts to raise public awareness and foster development in the air travel market, influencing the overall expansion of the aircraft landing gear market. A concrete example is the Russian Government's planned investment of RUB237 billion ($3.1 billion) in March 2023 to support the self-regulating sector, specifically aimed at preserving and developing regional aviation in the Arctic. This initiative encompasses projects for aircraft construction in 2023 and the preservation and enhancement of regional aviation in the Arctic zone. Additionally, in June 2022, the Russian Government announced a substantial investment of over $14 billion in the aviation industry by the end of the decade, with a focus on boosting domestic aircraft production. The goal is to achieve 81% domestic production for aircraft operated by Russian Airlines by 2030. The support provided by governments is anticipated to play a significant role in fueling the expansion of the aircraft landing gear market.
A prominent trend in the aircraft landing gear market is the pursuit of technological advancements by industry players. Companies are placing a strong emphasis on developing innovative landing gear solutions characterized by lighter weight and reduced complexity. An example of this trend is evident in the efforts of Metro Hop, a US-based electric airplane company. In April 2021, the company showcased its concept of Active Landing Gear, featuring electric motors in each wheel. This new system has the capability to shorten the takeoff and landing runs of electric airplanes, contributing to enhanced operational efficiency. The lower power requirements and simplified design not only improve performance but also allow for a reduced takeoff weight, creating additional capacity for passengers or cargo.
A transformative trend in the aircraft landing gear market is the adoption of 3D printing technology. This innovation is expected to revolutionize the design and manufacturing of landing gear components. 3D printing enables manufacturers to produce intricate landing gear parts with high precision, leading to a reduction in material waste and production costs. The industry anticipates continued exploration of new applications for 3D printing in landing gear design, including the incorporation of novel materials and advanced sensors. Safran, a France-based aircraft manufacturing company specializing in rocket engines, exemplified this trend by utilizing Selective Laser Melting (SLM) Solutions technology. In April 2021, Safran employed 3D printing to produce a component for the nose landing gear of a business jet, showcasing the technology's potential in creating titanium components for landing gear systems. The adoption of 3D printing is poised to bring about transformative changes in the way landing gear components are conceived and manufactured within the aircraft landing gear market.
In August 2021, The Precision Aviation Group, Inc., a USA-based provider of aerospace and defense industry products and services, acquired Trace Aviation, Inc. for an undisclosed sum. This acquisition augments Precision Aviation's landing gear Maintenance, Repair, and Overhaul (MRO) capabilities and substantially broadens the product and service portfolio available to Precision Aviation's existing customer base. Trace Aviation, Inc., also based in the USA, specializes in the innovative exchange overhaul of landing gear components within the aviation sector.
Major companies operating in the aircraft landing gear market report are Safran S.A., Raytheon Technologies Corporation, Heroux-Devtek Inc., Melrose Industries PLC, Parker Hannifin Corporation, Triumph Group Inc., Liebherr-International AG, Sumitomo Precision Products Co. Ltd., AAR Corp., Eaton Corporation, Aircraft Landing Gear Co. Ltd., AMETEK Instruments Pvt Ltd., SPP Nagasaki Engineering Co. Ltd., Kawasaki Aerospace Company, AVIC Aircraft Landing Gear Co. Ltd., Commercial Aircraft Corporation of China Ltd., Meggitt PLC, Airbus S.A.S, ZF Luftfahrttechnik, ThyssenKrupp AG, United Aircraft Corporation, IRKUT Corporation, PZL Warszawa, Sukhoi, KF Aerospace, Circor International Inc., Collins Aerospace, Magellan Aerospace Corporation, Boeing Co.
North America was the largest region in the aircraft landing gear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aircraft landing gear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of aircraft landing gear encompass the main landing gear and nose landing gear. The main landing gear is responsible for absorbing landing impact energy to minimize stress on the airframe. Comprising two or more large wheels near the aircraft's center of gravity, it necessitates a third-wheel assembly to support the tail due to its forward positioning relative to the center of gravity. Aircraft types include fixed-wing and rotary-wing platforms for end users, including both Original Equipment Manufacturers (OEM) and aftermarket sectors.
The aircraft landing gear market research report is one of a series of new reports that provides aircraft landing gear market statistics, including aircraft landing gear industry global market size, regional shares, competitors with aircraft landing gear market share, detailed aircraft landing gear market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft landing gear industry. This aircraft landing gear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The aircraft landing gear market consists of sales of tricycles, tail-wheel (conventional), pontoons, and skis landing gears. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Table of Contents
1. Executive Summary2. Aircraft Landing Gear Market Characteristics3. Aircraft Landing Gear Market Trends and Strategies32. Global Aircraft Landing Gear Market Competitive Benchmarking33. Global Aircraft Landing Gear Market Competitive Dashboard34. Key Mergers and Acquisitions in the Aircraft Landing Gear Market
4. Aircraft Landing Gear Market - Macro Economic Scenario
5. Global Aircraft Landing Gear Market Size and Growth
6. Aircraft Landing Gear Market Segmentation
7. Aircraft Landing Gear Market Regional and Country Analysis
8. Asia-Pacific Aircraft Landing Gear Market
9. China Aircraft Landing Gear Market
10. India Aircraft Landing Gear Market
11. Japan Aircraft Landing Gear Market
12. Australia Aircraft Landing Gear Market
13. Indonesia Aircraft Landing Gear Market
14. South Korea Aircraft Landing Gear Market
15. Western Europe Aircraft Landing Gear Market
16. UK Aircraft Landing Gear Market
17. Germany Aircraft Landing Gear Market
18. France Aircraft Landing Gear Market
19. Italy Aircraft Landing Gear Market
20. Spain Aircraft Landing Gear Market
21. Eastern Europe Aircraft Landing Gear Market
22. Russia Aircraft Landing Gear Market
23. North America Aircraft Landing Gear Market
24. USA Aircraft Landing Gear Market
25. Canada Aircraft Landing Gear Market
26. South America Aircraft Landing Gear Market
27. Brazil Aircraft Landing Gear Market
28. Middle East Aircraft Landing Gear Market
29. Africa Aircraft Landing Gear Market
30. Aircraft Landing Gear Market Competitive Landscape and Company Profiles
31. Aircraft Landing Gear Market Other Major and Innovative Companies
35. Aircraft Landing Gear Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Aircraft Landing Gear Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on aircraft landing gear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for aircraft landing gear? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Gear Type: Main Landing Gear; Nose Landing Gear
2) By Aircraft Type: Fixed Wing; Rotary Wing
3) By End-user: OEM; Aftermarket
Key Companies Mentioned: Safran S.A.; Raytheon Technologies Corporation; Heroux-Devtek Inc; Melrose Industries plc; Parker Hannifin Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Safran S.A.
- Raytheon Technologies Corporation
- Heroux-Devtek Inc
- Melrose Industries plc
- Parker Hannifin Corporation
- Triumph Group Inc.
- Liebherr-International AG
- Sumitomo Precision Products Co. Ltd.
- AAR Corp.
- Eaton Corporation
- Aircraft Landing Gear Co. Ltd
- AMETEK Instruments Pvt Ltd
- SPP Nagasaki Engineering Co. Ltd
- Kawasaki Aerospace Company
- AVIC Aircraft Landing Gear Co. Ltd
- Commercial Aircraft Corporation of China Ltd
- Meggitt PLC
- Airbus S.A.S
- ZF Luftfahrttechnik
- ThyssenKrupp AG
- United Aircraft Corporation
- IRKUT Corporation
- PZL Warszawa
- Sukhoi
- KF Aerospace
- Circor International Inc.
- Collins Aerospace
- Magellan Aerospace Corporation
- Boeing Co.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 14.84 Billion |
| Forecasted Market Value ( USD | $ 21.89 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
