The aircraft landing gear MRO market has witnessed sluggish growth in the past few years. This is mainly due to the slowdown in aircraft operations worldwide caused by the COVID-19 pandemic. Also, the recovery of the airline industry is witnessing slow growth in terms of aircraft MRO demand. However, one of the major factors driving the market is the rising air passenger traffic across different regions. Another major factor boosting the market growth includes the rising number of global aircraft fleets, which is ultimately generating new demand for landing gear MRO services across different airlines worldwide.
The aircraft landing gear MRO market is likely to register stable growth in the coming years. However, the market is moderately fragmented, with the presence of a large number of players operating across different regions. Moreover, the expected deliveries of commercial aircraft in the next 20 years are likely to generate new opportunities for the market vendors during the forecast period. According to the major aircraft OEMs, i.e., Airbus and Boeing, more than 40,000 commercial aircraft are expected to be delivered by the end of 2042. Further, the growth in procurement of military aircraft is bolstering the aircraft landing gear MRO market across different regions. In addition, the constant tensions among countries such as Russia-Ukraine, China-Taiwan, Israel-Palestine, US-China, India-Pakistan, India-China, etc, are also encouraging the procurement of military aircraft and helicopters. Such tensions among the countries are due to the rising geopolitical competition among different countries for strengthening their respective armed forces for which they are procuring advanced technologies and adding value to their respective air forces. Such factors have been pushing the deployment of military aircraft, helicopters, and UAVs in larger numbers, which is further catalyzing the aircraft landing gear MRO market across different regions.
Several airlines operating across different regions have been collaborating with different MRO players to extend their existing contracts or to provide them with new contracts for landing gear MRO. A few examples are mentioned below:
Such a growing number of MRO contracts for landing gear MRO services fuels the aircraft landing gear MRO market growth across the globe.
Based on aircraft type, the market is divided into fixed wing and rotary wing. The fixed wing segment held a larger aircraft landing gear MRO market share in 2022, accounting for 69.9%, and is expected to reach 68.4% by 2030. One of the major factors responsible for the fixed wing segment growth in the aircraft landing gear MRO market is the presence of the largest fleet compared to rotary wing aircraft worldwide. Moreover, the growing fleet of fixed wing commercial and military aircraft is another major factor likely to generate new opportunities for the market vendors in the coming years. Further, the expected fixed wing commercial aircraft deliveries in the next 20 years are likely to provide new opportunities for market vendors in the coming years. Such factors are catalyzing the fixed wing segment growth in the market.
The North America aircraft landing gear MRO market was valued at US$ 1,678.30 million in 2022 and is projected to reach US$ 3,016.69 million by 2030; it is expected to register a CAGR of 7.6% from 2022 to 2030. North America region some of the major aircraft landing gear MRO market players such as Global Aerospace Corporation, Aviatechnik Corporation, AAR Corp, Safran, Aerospace Rotables, Landing Gear Technologies LLC, and Jet Landing Systems that have their respective MRO facilities across different parts of the region and keeps catering to new demands for landing gear MRO from their respective facilities. This factor is contributing to the aircraft landing gear MRO market growth across the region. Further, the US accounted for the largest aircraft landing gear MRO market share in the market in North America. This is mainly due to the presence of the mentioned aircraft landing gear MRO companies and the presence of some of the major aircraft OEMs i.e. Boeing, Airbus, Textron, Lockheed Martin, Northrop Grumman Corporation, etc. Such companies are also contributing to the aircraft landing gear MRO market growth across the North America region.
The aircraft landing gear MRO market report includes the company profiles of the players such as Safran, AAR Corp, Magellan Aerospace Corporation, Circor International Inc, Triumph Group Inc, Lufthansa Technik, ST Engineering, Meggitt Plc, Liebherr-International Deutschland GmbH, and Honeywell International Inc. The aircraft landing gear MRO market analysis is carried out by identifying and evaluating key players in the market across different regions. Among the mentioned market players—Safran, AAR Corp, Magellan Aerospace Corporation, Circor International Inc, and Triumph Group Inc are the top aircraft landing gear MRO market players owing to the diversified services portfolio offered.
The regional trends and factors influencing the Aircraft Landing Gear MRO Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Landing Gear MRO 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 2022 | US$ 4,343.97 Million |
| Market Size by 2030 | US$ 5,392.01 Million |
| Global CAGR (2022 - 2030) | 2.7% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aircraft Landing Gear MRO 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 MRO Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The aircraft landing gear MRO market report includes an analysis carried out by identifying and evaluating key players in the market. Inorganic and organic strategies such as new contracts, mergers, and acquisitions are highly adopted by companies in the aircraft landing gear MRO market. For instance, in 2021, KP Aviation announced the merger with Aircraft Landing Systems (ALS), a premier landing gear MRO company based in Hialeah Florida. In addition, in August 2021, Atlanta-based Precision Aviation Group, Inc. (PAG) announced the acquisition of Trace Aviation (TA) o Jackson, Mississippi. Similarly, in October 2022, the Adani Group announced that it will acquire MRO company Air Works Group in a bid to strengthen its civil aviation portfolio in the coming years. The report includes growth prospects owing to the current aircraft landing gear MRO market trends and their foreseeable impact during the forecast period.
The List of Companies - Aircraft Landing Gear MRO Market
Safran, AAR Corp, Magellan Aerospace Corporation, Circor International Inc, and Triumph Group are some of the key market players operating in the global aircraft landing gear MRO market.
Retrofitting of older aircraft fleet is one of the major trends expected to drive the market in the coming years.
Asia Pacific is expected to account for the largest share during the forecast period and it is likely to retain its dominance during the forecast period as well.
Expected deliveries of commercial aircraft over the next 20 years is one of the key factors likely to generate new opportunities for market vendors during the forecast period.
Rising Aircraft MRO Industry; Rising Number of Contracts for Aircraft MRO Operations; and Rising Procurement of Military Aircraft in Larger Numbers are contributing to the growth of aircraft landing gear MRO market.