The global aircraft landing gear market accounted for US$ 11.89 Bn in 2018 and is expected to grow at a CAGR of 6.4% over the forecast period 2019-2027, to account for US$ 20.60 Bn in 2027. During the forecast period of 2019 to 2027, the positive growth outlook of the global aviation industry is expected to drive the demand for aircraft landing gear worldwide. However, the challenges related to landing gear design and development may restrain the future growth of the aircraft landing gear market. Despite these limitations, the increasing popularity of low cost carriers (LCCs) and ultra-low-cost carriers (ULCCs) is projected to offer ample growth opportunities for the players operating in the aircraft landing gear market during the forecast period Some of the leading players in aircraft landing gear market are highly focusing on strategic market initiatives to enrich their production capabilities as well as to expand their geographical presence across the globe. Also, the players are focusing on receiving numerous contracts from commercial and military aircraft manufacturers. This, in turn, is contributing to the growth of the aircraft landing gear market.
The aircraft landing gear market has been segmented on the basis of aircraft type, gear arrangement, type, end-user, and geography. Based on aircraft type, the market has been segmented into airplanes and helicopters. Airplanes segment represented the largest share of the overall market throughout the forecast period, however, helicopters segment is expected to be the fastest-growing. Based on gear arrangement, the aircraft landing gear market has been segmented into tricycle, tandem, and tail wheel. In 2018, tricycle contributed a substantial share in the global aircraft landing gear market followed by tail wheel and tandem respectively. The market is further segmented on the basis of type into main and nose type; and on the basis of end-user into commercial and armed forces. Geographically, the aircraft landing gear market is categorized as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America held the largest share of the aircraft landing gear market in 2018, and it is expected to continue its dominance during the forecast period of 2019-2027. It has contributed more than 40% to the overall revenue of the aircraft landing gear market in the year 2018. Europe and the Asia Pacific held the second and third position in the global aircraft landing gear market in 2018 with market shares of >25% and >15%, respectively. The market in APAC is anticipated to grow at the highest growth rate from 2019 to 2027. Other developing regions such as the Middle East and Africa and South America are also anticipated to offer ample growth opportunities to the aircraft landing gear market players during 2019-2027.
The overall aircraft landing gear market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the aircraft landing gear market. It also provides the overview and forecast for the global aircraft landing gear market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the aircraft landing gear market. Some of the players present in aircraft landing gear market are SAFRAN S.A., Liebherr Group, Héroux-Devtek Inc., Collins Aerospace, Triumph Group Inc., CIRCOR International, Inc., Sumitomo Precision Products Co., Ltd., GKN Aerospace Services Limited, AAR Corp., and Magellan Aerospace Corporation among others.
GE Aviation, Integral Aerospace, Crane Aerospace & Electronics, Honeywell Aerospace, MECAER Aviation Group, Beringer Aero, and Yuneec International are few other market players from value chain which are not profiled in the report but the can be included based on request.