Aircraft Landing Gear MRO Market is expected to reach US$ 5,392.07 million by 2030

Rising Global Aircraft Fleet Boost Aircraft Landing Gear MRO Market Growth

According to our latest market study on "Aircraft Landing Gear MRO Market Forecast to 2030 – Global Analysis – by Type, Aircraft Type, End User, and Geography," the market was valued at US$ 4,343.97 million in 2022, and it is expected to reach US$ 5,392.07 million by 2030; it is anticipated to register a CAGR of 2.7% from 2022 to 2030. The market study includes growth prospects owing to the current aircraft landing gear MRO market trends and their foreseeable impact during the forecast period.

The maintenance, repair, and overhaul (MRO) services are an essential and unavoidable aspect of every business. A proper MRO of an aircraft or its components can help businesses avoid significant risks to their survival. As a result, aviation industry players are majorly focusing on creating appropriate business processes and infrastructure to support industry growth. The rising demand for air travel worldwide is encouraging aircraft manufacturers such as Airbus and Boeing to increase their production volumes and offer maintenance services for these aircraft as well. With the constant growth in air traffic, carriers are more liable to maintain the optimum condition of the aircraft in order to extend their life span and avoid procuring new aircraft. The cost of procurement of a new aircraft is much higher than the cost of the maintenance of the existing aircraft. Governments of various countries across the world are highly engaged in investing significantly in aviation infrastructure to deliver better MRO services. They are also planning to develop the airports as MRO hubs, integrating all the capabilities, facilities, and warehouses in the facility to offer high-quality services to aircraft. Several engine development programs are being adopted, owing to the mounting spending toward aircraft modernization, norms and regulations, and environmental concerns for the retirement of older fleets. Most of the engine manufacturers are robustly focusing on the development of economical and efficient engines for new aircraft fleets. The procurement of advanced aircraft parts is expected to double in the next few years, which is resulting in the retirement of older planes across the globe.  

Aircraft Landing Gear MRO Market Share – by Region, 2022

Source: The Insight Partners Analysis

The major stakeholders in the global aircraft landing gear MRO market ecosystem include landing gear manufacturers, MRO service providers, and end users. The landing gear manufacturers are the crucial stakeholders in the market. The major components used in an aircraft landing gear include brakes, wheels, actuation systems, and steering systems. The timely maintenance of all these components is crucial for the efficient operation of any aircraft across the airline operations. Thus, any operational impact on these component providers directly impacts the aircraft landing gear MRO market. For instance, in 2020, the airlines faced challenges such as suspension of flight operations, lock-down across different countries, strong decline in passenger traffic, etc. Such factors have impacted the demand for aircraft operations and air travel that has impacted the aircraft landing gear MRO market during 2020-2022. Moreover, airline operations started to resume in 2022, which has pushed up the need for aircraft MRO operations across different regions.

Some of the major aircraft landing gear MRO market players profiled in the aircraft landing gear MRO market report include 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. Such companies are other major entities that are catalyzing the aircraft landing gear MRO market across different regions by providing customers with reliable MRO services to cater to the growing market demand and remain competitive in the market.

The aircraft landing gear MRO market report plays an important role in providing help for shaping the aviation capabilities of airlines, influencing profitable airline strategies, and contributing to geopolitical dynamics as well. With a multifaceted landscape influenced by technological advancements, security threats, and international collaborations, the aircraft landing gear MRO market is characterized by ongoing modernization efforts, diversification of capabilities, and the integration of cutting-edge technologies. Also, the rising air passenger traffic across different regions is propelling the need for the maintenance of various aircraft parts.

The aircraft landing gear MRO market analysis is carried out by identifying and evaluating key players in the market across different regions. Further, in 2022, the market in Asia Pacific accounted for a larger aircraft landing gear MRO market share and is also expected to retain its dominance in the coming years. This is mainly due to the presence of a large number of operational flights across China, India, Japan, Singapore, Thailand, and other Asia Pacific countries. These countries are experiencing significant traction in the tourism sector, which boosts the demand for air travel across the region. Further, the rise in flight operations across these countries leads to the increased demand for maintenance checks for different aircraft components, including the nose and main landing gears. All these factors are boosting the aircraft landing gear MRO market in Asia Pacific.  

The aviation industry has been growing rapidly over the past few years, leading to a rise in demand for airline MRO services. Emerging economies, such as those in APAC, are highly focused on extending MRO services to commercial as well as military aircraft companies. Major aircraft MRO businesses in APAC include Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO), China; MTU Maintenance; and ExecuJet Haite Aviation Services China Co., Ltd. Heavy spending on aviation infrastructure, economic growth, and increase in passenger count are the factors propelling the adoption of aircraft maintenance services. Moreover, the growing number of middle-class travelers—especially in APAC countries, such as China, Singapore, and India—is the main factor contributing to air travel growth, which is consequently increasing the need for aircraft maintenance services in the region. The Rest of APAC countries, which include Singapore, Malaysia, and Thailand, produce a large amount of revenue from the aviation MRO market due to well-established MRO hubs. For instance, Singapore dominates the market in the Rest of APAC due to its established MRO hubs and the wide presence of major market players such as GE Aviation, Airbus, and Rolls-Royce. According to the Wisconsin Economic Development Corporation (WEDC), Singapore houses 120 aerospace companies, which have gathered one-quarter of the APAC aircraft MRO market. Hence, the increase in the number of aircraft MRO companies is anticipated to contribute to the growing aircraft landing gear MRO market size in the coming years.

The market players are strongly focusing on collaborating with different airlines and governments of different countries to understand their respective demands and offer them suitable services. Moreover, several aviation associations and organizations of different nations are investing substantially in the development of advanced landing gear products, which is another major factor supporting the aircraft landing gear MRO market growth across different regions.

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