How Has The Computer Vision in Aircraft Gearbox Market Size Evolved In Recent Years?
The aircraft gearbox market has seen considerable growth due to a variety of factors.
• In recent times, the size of the aircraft gearbox market has exhibited significant growth. It is projected to expand from $3.39 billion in 2024 to $3.65 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.6%.
The substantial growth during the historical period can be associated with robust economic expansion in emerging markets, escalating air traffic, a surge in the deliveries of commercial aircraft, and investment in geared turbofan engines.
What Does Future Hold for The Aircraft Gearbox Market Size?
The aircraft gearbox market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions indicate a robust expansion of the aircraft gearbox market in the upcoming years. The market is projected to surge to $4.72 billion by 2029, experiencing a compound annual growth rate (CAGR) of 6.6%.
This expected growth within the projection period can be linked to the heightened demand for military helicopters, an expanding aircraft fleet, and increased commitments to research and development. Noteworthy trends for the forecast period involve focusing on the release of new power gearboxes, enhancing technological advancements and developing progressive products, establishing partnerships and collaborations to broaden product portfolio and geographical reach, and investing in the marketplace to generate novel product solutions.
Which Key Drivers Are Propelling Th Aircraft Gearbox Market's Growth?
The aircraft gearbox market's growth is predicted to be fueled by a rise in air travel. The surge in air travel pertains to more individuals flying, a growth in international tourism, and an increased requirement for commercial planes for delivery. The expansion in aviation travel, prompted by population and economic growth, has consequently boosted the demand for aircraft engines and components, which in turn propels the aircraft gearbox market. For example, as reported by the IATA (International Air Transport Association), a Canadian airline trade organization, the total worldwide air traffic escalated by 76.0% in March 2022 compared to May 2022. The traffic in March soared 425.44% in comparison to the same month in the previous year. Furthermore, traffic for airlines in the Asia-Pacific region in March 2022 saw a growth of 197.1% in comparison to March 2021, surpassing the 146.5% rise reported in February 2022 over February 2021. Thus, the aircraft gearbox market's expansion is propelled by the rise in air travel.
What Is The Segmentation Of The Global Aircraft Gearbox Market?
The aircraft gearbox market covered in this report is segmented –
1) By Component: Gear, Housing, Bearings, Other Components
2) By Aircraft Type: Civil Aviation, Military Aviation
3) By Fit: Retrofit, Linefit
4) By Gearbox Type: Accessory, Actuation, Reduction, Tail Rotor, Auxiliary Power Unit, Other Gearbox Types
5) By Application: Engine, Airframe
Subsegments:
1) By Gear: Reduction Gears, Planetary Gears, Spur Gears
2) By Housing: Gearbox Cases, End Covers
3) By Bearings: Roller Bearings, Ball Bearings, Thrust Bearings
4) By Other Components: Seals And Gaskets, Lubrication Systems, Cooling Systems
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What Emerging Trends Are Shaping The Aircraft Gearbox Market Landscape?
Leading enterprises in the aircraft gearbox market are putting emphasis on technological progress, such as enhanced main gearboxes (eMGB), to increase safety and efficiency while lowering upkeep costs. The improved main gearbox (eMGB) represents the cutting edge in components for helicopters, elevating safety and operational efficiency through high-tech engineering and materials. This ground-breaking gearbox lessens the need for maintenance and reduces downtime, thus enhancing the overall performance and dependability of aircraft for operators. For instance, in February 2023, Airbus Helicopters SAS, the helicopter manufacturing arm of Airbus from France, launched an enhanced main gearbox (eMGB) for the H225, targeting safety enhancements and significant reductions in maintenance needs for its operators. This innovation not only boosts the helicopter's performance, but also signifies Airbus's dedication to technological development within the heavy-twin sector.
Who Are the Key Players in the Aircraft Gearbox Market?
Major companies operating in the aircraft gearbox market include:
• Safran
• Triumph Group
• Liebherr
• The Boeing Group
• General Electric
• Rexnord Corporation
• Rolls-Royce plc
• Aero Gear
• SKF
• Northstar Aerospace
• BAE Systems India Services Pvt Ltd
• Nabtesco Corporation
• Harbin Aircraft Industry Group
• Shenyang Aircraft Corporation
• Xi'an Aircraft Industrial Corporation
• Shanghai Aircraft Industry Corporation
• Hongdu Aviation Industry Group
• Changhe Aircraft Industries Corporation
• Chengdu Aircraft Industry Group
• Guizhou Aircraft Industry Corporation
• Meggitt PLC
• Eaton Corporation PLC
• Airbus S.A. S
• ZF Luftfahrttechnik
• ThyssenKrupp AG
• CEF Industries
• The Timken Company
• PBS Velka Bites
• Avion Corporation
• AAR Corp
• Circor International Inc
• Collins Aerospace
• Héroux-Devtek Inc
• Magellan Aerospace Corporation
• Bombardier Inc
• Bell Textron Inc
• Pratt & Whitney Canada
• KF Aerospace
• Elbit Systems Ltd
• Israel Aerospace Industries
• Saudi Aircraft Accessories and Components Company
• Mubadala Aerospace
• Alp Aviation
• Turkish Technic Inc
• Turkish Aircraft Industries Corporation
• Parker-Hannifin Corporation
• Moog Inc.
What are the Regional Insights into the Aircraft Gearbox Market?
North America was the largest region in the aircraft gearbox market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft gearbox market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
