Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Commercial Aircraft Landing Gear Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The commercial aircraft landing gear industry is poised for significant growth, backed by the expanding aviation sector and innovation in landing gear technologies. Steered by escalating demands for aircraft efficiency and safety, the sector is witnessing rapid advancements that align with the needs of modern air transportation.
A comprehensive market research report on commercial aircraft landing gears, providing an in-depth analysis of this integral component of the aerospace industry, has been included in our extensive research portfolio. The report presents pivotal insights into the emerging trends, growth drivers, and potential challenges that shape the current and future market landscape.
The report unveils that the global market for commercial aircraft landing gears was valued at $9.31 billion in 2023. With a robust compound annual growth rate (CAGR) of 8.9%, projections estimate the market to reach $10.14 billion in 2024. Factors such as the refurbishment of aging aircraft fleets, increased air travel, and higher safety regulations have been instrumental in this growth.
Looking forward, the commercial aircraft landing gear market is expected to continue its upward trajectory, anticipated to touch an impressive $14.43 billion by 2028, at a CAGR of 9.2%. The market expansion will likely be fueled by the need for modern, fuel-efficient, and environmentally-friendly aircraft, alongside an upsurge in defense and cargo aircraft deployment.
From a regional perspective, North America maintains its leadership in the global market. However, Asia-Pacific regions are forecasted to experience the fastest growth, signifying an expanding aerospace sector in these territories. Industry players’ strategic priorities include technological enhancements, with an emphasis on the utilization of 3D printing, additive manufacturing, and the integration of lightweight materials in landing gear systems.
A selection of companies mentioned in this report includes
- AAR Corp.
- Circor Aerospace Inc.
- Heroux-Devtek Inc.
- Honeywell Aerospace
- Liebherr-International AG
- Safran Landing Systems
- UTC Aerospace Systems
- Triumph Group Inc.
- GKN Ltd.
- Magellan Aerospace Corporation
- Aerospace Industrial Development Corporation
- Sumitomo Precision Products Co. Ltd.
- Heroux-Devtek UK Ltd.
- Sumitomo Precision Products Co. Ltd.
- Parker-Hannifin Corporation
- Meggitt plc
- Circor International Inc.
- Whippany Actuation Systems
- Young Poong Corporation
- South Korea Aerospace Industries Ltd.
- Qingdao Beihai Shipbuilding Heavy Industry Co. Ltd.
- RENK AG
- Lufthansa Technik Landing Gear Services UK
- Safran Landing Systems
- RTX Corporation
- AVIC SAC Commercial Aircraft Landing Gear Co. Ltd.
- ShinMaywa Industries Ltd.
- Elbit Systems Ltd.
- Moog Inc.
- Senior Aerospace Weston
For more information about this report visit https://www.researchandmarkets.com/r/9mextt
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