Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Aircraft Landing Gear Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global aircraft landing gear market as it emerges from the COVID-19 shut down.
The global aircraft landing gear market reached a value of nearly $11,937.4 million in 2022, having increased at a compound annual growth rate (CAGR) of 3.7% since 2017. The market is expected to grow from $11,937.4 million in 2022 to $19,538.5 million in 2027 at a rate of 10.4%. The market is then expected to grow at a CAGR of 9.3% from 2027 and reach $30,523.2 million in 2032.
Companies Mentioned
- Safran S.A.
- Raytheon Technologies Corporation
- Heroux-Devtek, Inc
- Melrose Industries plc
- Parker Hannifin Corporation
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
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This report describes and explains the aircraft landing gear market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from an increased adoption of lighter and robust landing gears, increased raw material costs, a rise in air travel, strong economic growth in emerging markets and an increased military spending. Factors that negatively affected growth in the historic period were increased raw material costs, safety concerns and COVID-19 impact.
Going forward, government support, an increase in passenger air traffic, growing urbanization and growing demand for new fighter jets in developing countries will drive the market. Factors that could hinder the growth of the aircraft landing gear market in the future include stringent regulations and the Russia-Ukraine war.
The aircraft landing gear market is segmented by gear type into main landing gear and nose landing gear. The main landing gear was the largest segment of the aircraft landing gear market by gear type, accounting for $8,369.8 million or 70.1% of the total market in 2022. The nose landing gear market is expected to be the fastest-growing segment going forward at a CAGR of 10.8%.
The aircraft landing gear market is segmented by aircraft type into fixed wing and rotary wing. The fixed wing market was the largest segment of the aircraft landing gear market by aircraft type, accounting for $9,179.0 million or 76.9% of the total market in 2022. The rotary wing market is expected to be the fastest-growing segment going forward at a CAGR of 10.8%.
The aircraft landing gear market is segmented by end users into OEM and aftermarket. The OEM was the largest segment of the aircraft landing gear market by end users, accounting for $7,788.8 million or 65.2% of the total market in 2022. The aftermarket market is expected to be the fastest-growing segment going forward at a CAGR of 10.8%.
North America was the largest region in the aircraft landing gear market, accounting for 45.0% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the aircraft landing gear market will be Eastern Europe and the Middle East, where growth will be at CAGRs of 11.3% and 10.8% respectively from 2022-2027.
The global aircraft landing gear market is fragmented, with a large number of players. The top ten competitors in the market made up to 27% of the total market in 2021. Safran S.A. was the largest competitor with 6.94% share of the market, followed by Raytheon Technologies Corporation with 5.14%, Heroux-Devtek, Inc with 2.88%, Melrose Industries plc with 2.67%, Parker Hannifin Corporation with 1.17%, Triumph Group Inc. with 0.96%, Liebherr-International AG with 0.90%, Sumitomo Precision Products Co. Ltd. with 0.82%, AAR Corp. with 0.81% and Eaton Corporation with 0.49%.
The top opportunities in the aircraft landing gear market by gear type will arise in the main landing gear market, which will gain $5,219.3 million of global annual sales by 2027. The top opportunities in the aircraft landing gear market by aircraft type will arise in the fixed wing market, which will gain $5,753.9 million of global annual sales by 2027. The top opportunities in the aircraft landing gear market by end users will arise in the OEM market, which will gain $4,825.6 million of global annual sales by 2027. The aircraft landing gear market size will gain the most in the USA at $2,679.7 million.
Market-trend-based strategies for the aircraft landing gear market include focus on 3D printed landing gears, focus on active landing gears, focus on new facility expansions, focus on developing new technological solutions, focus on mergers and acquisitions, focus on advanced landing gears, focus on partnerships and collaborations and focus on strategically investing to expand products portfolio.
Player-adopted strategies in the aircraft landing gear industry include enhancing business operations through the launch of new products, strengthening business activities through strategic mergers, enhancing business operations through securing new contracts and expanding operational capabilities through strategic acquisitions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $11937.4 Million |
| Forecasted Market Value (USD) by 2031 | $30523.2 Million |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Aircraft Landing Gear Market Definition And Segmentations
6.4. Market Segmentation By Gear Type
6.4.1. Main Landing Gear
6.4.2. Nose Landing Gear
6.5. Market Segmentation By Aircraft Type
6.5.1. Fixed Wing
6.5.2. Rotary Wing
6.6. Market Segmentation By End User
6.6.1. OEM
6.6.2. Aftermarket
7. Major Market Trends
7.1. 3D Printed Landing Gears
7.2. Active Landing Gears
7.3. New Facility Expansions
7.4. Technology Advancements
7.5. Mergers And Acquisitions
7.6. Advanced Landing Gears
7.7. Partnerships And Collaborations
7.8. Increasing Investments
8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
8.2.1. Market Drivers 2017 - 2021
8.2.2. Market Restraints 2017 - 2022
8.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 - 2027
8.3.2. Market Restraints 2022 - 2027
9. Global Aircraft Landing Gear Market Segmentation
9.1. Global Aircraft Landing Gear Market, Segmentation By Gear Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Aircraft Landing Gear Market, Segmentation By Aircraft Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.3. Global Aircraft Landing Gear Market, Segmentation By End User, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10. Aircraft Landing Gear Market, Regional and Country Analysis
10.1. Global Aircraft Landing Gear Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Aircraft Landing Gear Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/qyu201
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