Dublin, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The "Aircraft Gearbox Market by Type, Component (Gear, Housing, Bearings), Application (Engine, Airframe), Platform (Military, Civil), End Use (OEM, Aftermarket), and Region (North America, Asia Pacific, Europe, Rest of the World) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Aircraft Gearbox Market is expected to grow from USD 3.0 billion at a CAGR of 6.9% during the forecast period, reaching USD 4.2 billion by 2028
This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The growth of the aircraft gearbox market is primarily driven by the increasing global demand for both commercial and military aircraft. This demand is further fueled by the ongoing advancements in lightweight, high-performance gearbox technologies, emphasizing enhanced aircraft efficiency and durability.
Additionally, the market is bolstered by a focus on reducing maintenance costs and ensuring compliance with stringent regulatory standards, contributing to the continuous expansion of the sector.
Safran (France), Liebherr (Switzerland), Triumph Group (US), The Timken Company (US), and Rexnord Aerospace (US) are some of the leading players operating in the aircraft gearbox market report.
Growing need for high-powered and fuel-efficient engines is driving the market for the Engine application segment.
Based on Application, the engine segment is expected to hold the largest market share. The expanding necessity for robust, fuel-efficient engines is serving as a key catalyst propelling the growth of the aircraft engine gearbox market across various applications.
This surge in demand is primarily driven by the aviation industry's imperative to ensure enhanced propulsion systems capable of meeting stringent performance requirements while minimizing fuel consumption.
Consequently, the market is witnessing a notable shift towards the integration of advanced gearbox technologies that not only optimize power delivery but also contribute to overall fuel efficiency, reflecting the industry's commitment to sustainable and technologically superior aviation solutions.
Growing global demand for new aircraft is propelling the OEM segment's dominance.
Based on End User, the market is segmented into OEM and Aftermarket. The increasing dominance of the Original Equipment Manufacturer (OEM) segment can be attributed to the escalating global demand for new aircraft, compelling manufacturers to integrate sophisticated gearbox technologies.
This integration primarily emphasizes the development of lighter designs and the enhancement of overall aircraft performance, underscoring the industry's commitment to advancing technological capabilities to meet the evolving needs of the aviation sector.
Increasing air passenger traffic and airline modernization efforts are driving the growth of the civil aircraft segment.
Based on Platform, the market has been segmented into civil aircraft and military aircraft. The higher expected growth rate of the civil aircraft segment is driven by the surge in air passenger traffic, fueling the demand for new commercial aircraft globally, and the ongoing modernization efforts by airlines to incorporate fuel-efficient and advanced aircraft.
Escalating demand for air travel and robust investments in aviation infrastructure are propelling the Rest of the World region.
The Rest of the World region, comprising the Middle East, Africa, and Latin America, is anticipated to experience a higher compound annual growth rate (CAGR) owing to the escalating demand for air travel, rapid infrastructure development, and the increasing focus on modernizing and expanding the aviation sector within these regions.
The push for regional connectivity, bolstered by investments in new airports and aircraft fleets, presents significant growth opportunities for aircraft gearbox manufacturers in these emerging markets.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 285 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3 Billion |
| Forecasted Market Value (USD) by 2028 | $4.2 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Company Profiles
- Aero Gear
- Aero Gearbox International
- Aerocontrolex Group
- Avio Aero
- Avion
- CEF Industries
- CZ Auto-Systems
- Liebherr
- Matex Gears
- Northstar Aerospace
- Other Players
- PBS Velka Bites
- Raytheon Technologies Corporation
- Rexnord Aerospace
- Safran
- SKF AB
- The Timken Company
- Triumph Group
- ZF Luftfahrttechnik GmbH
- Zhejiang Laifual Drive Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/av81ht
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