One of the major trends in the aircraft landing gear market is the demand-driven from the aftermarket due to the constantly rising fleet of commercial and civil aircraft models worldwide. In general, the service life of the landing gear for commercial airplanes for overhaul is between 200 to 400 landing cycles depending upon the weight of the aircraft models. Further, the rise in several older aircraft that require C/D checks during maintenance is another major factor likely to drive the market for aircraft landing gear market from 2023 to 2031.
The aircraft landing gear market is growing at a normal growth rate after the significant negative impact during FY2020 due to the held civil aviation operations caused by the COVID-19 pandemic. However, the civil aviation sector resumed its operations after an indefinite period which also hampers the demand for landing gear MRO market as well. Further, the aircraft production has also started recovering from the suspended production facilities and has been witnessing positive revenue growth which is another major factor driving the growth for aircraft landing gear installations. Further, the rising air passenger traffic worldwide is one of the major secondary factors driving the aircraft landing gear market size from the retrofitting users.
The aircraft landing gear market is likely to witness strong growth in the coming years. The growth of the aircraft landing gear market is due to some of the below key factors:
These factors are likely to show a significant impact in terms of positive growth of the aircraft landing gear industry. Some of the other major factors likely to drive the aircraft landing gear market include factors such as the rising procurement of civil helicopters; the introduction of low-cost airlines/low-cost carriers (LCA/LCC) propelling the aircraft operations to cater to the rising global air passenger traffic & cargo operations; and an increasing number of contracts for military aircraft & helicopter procurement propelled by the rising global military expenditure.
The increasing number of aircraft deliveries is one of the major factors driving the growth of the landing gear market. For instance, one of the major aircraft giants ‘Airbus 2023, delivered around 735 commercial aircraft in 2023 and has witnessed a growth of 11% since 2022. Further, during the same period, Airbus also has secured more than 2315 commercial aircraft gross orders including the 1,835 units of the A320 series and 300 units of the A350 series of aircraft models. Similarly, another aircraft giant i.e. ‘Boeing’ in 2023, delivered 528 commercial aircraft globally compared to 480 units of aircraft in 2022. Such aircraft deliveries have majorly driven the aircraft landing gear market growth during FY 2023.
The expected number of commercial aircraft deliveries in the next two decades is likely to witness strong growth. According to Airbus’ Global Market Forecast, more than 40,800 units of commercial aircraft during 2023 to 2042. Similarly, according to Boeing’s Commercial Market Forecast, more than 42,590 new commercial aircraft will be delivered from 2023 to 2042. Such growth in the production and deliveries of new commercial aircraft in the next two decades is likely to generate new opportunities for market vendors in the forecasted period of 2024 -2031 as well.
Key segments that contributed to the derivation of the Aircraft Landing Gear Market analysis are aircraft type, gear arrangement, type, end-user, and geography.
The geographic scope of the Aircraft Landing Gear Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aircraft Landing Gear Market in 2023, whereas, the Asia Pacific region is likely to witness significant growth during the forecast period. The North American region includes the US, Canada, and Mexico. The US dominated the North American aircraft landing gear market in 2023. This is mainly due to the rising air passenger traffic and aircraft fleet size across the country. For instance, according to the Bureau of Transportation Statistics (BTS) analysis, in 2022, US airlines carried 194 million more passengers than in 2021, which was 30% year-to-year growth.
The Aircraft Landing Gear Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft landing gear market and strategies:
The regional trends and factors influencing the Aircraft Landing Gear Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Landing Gear Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8.85 Billion |
| Market Size by 2031 | US$ 13.88 Billion |
| Global CAGR (2023 - 2031) | 5.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Aircraft Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aircraft Landing Gear Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aircraft Landing Gear Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The “Aircraft Landing Gear Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: