What Does the Historical and Current Aircraft Landing Gear Market Size Trend Indicate?
The aircraft landing gear market has seen considerable growth due to a variety of factors.
• In recent times, the size of the aircraft landing gear market has seen significant growth. The projection suggests an increase from $14.46 billion in 2024 to $15.91 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.0%.
The upward trend during the historic period is due to factors such as the preference for lighter, durable landing gears, escalating raw material prices, a surge in air travel, a potent economic boost in burgeoning markets, and heightened military expenditure.
What Are the Future Growth Projections for the Aircraft Landing Gear Market?
The aircraft landing gear market is expected to maintain its strong growth trajectory in upcoming years.
• The market for aircraft landing gear is predicted to experience substantial growth in the upcoming years, expected to reach a value of $22.33 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.9%.
The projected growth during the forecast timeframe is due to factors such as rising passenger air traffic, increased urbanization, and a surge in demand for new fighter jets in emerging economies. The forecast period will also see key trends such as the use of 3D printing in landing gear production, the introduction of active landing gears, expansion of new facilities, the emergence of novel technological solutions, an emphasis on mergers and acquisitions, advancements in landing gear technology, prioritizing partnerships and collaborations, and strategic investments to widen product offerings.
What Main Forces Are Fueling Expansion In The Aircraft Landing Gear Market?
Expectations of growth in the aircraft landing gear market are being fueled by the ramped-up acquisition of modern-generation planes. The demand for landing gear is on the rise, due to a surge in global requirements for both commercial and cargo aircraft, as well as bolstered defense equipment spending across various nations. This demand is expected to further stimulate the aircraft landing gear market. For example, the International Air Transport Association, a Canadian trade association representing the global airline industry, projected in December 2023 that the number of new aircraft deliveries was set to experience a significant surge. Predictions suggested 1,777 new deliveries in 2024, with this figure seeing another increase to 2,075 by 2025. Therefore, the growing procurement of modern-generation aircraft is seen as the growth impetus for the aircraft landing market.
What Are The Major Segments Within The Aircraft Landing Gear Market?
The aircraft landing gear market covered in this report is segmented –
1) By Gear Type: Main Landing Gear, Nose Landing Gear
2) By Aircraft Type: Fixed Wing, Rotary Wing
3) By End User: OEM, Aftermarket
Subsegments:
1) By Main Landing Gear: Tricycle Gear, Tailwheel Gear, Nose Landing Gear
2) By Nose Landing Gear: Single Wheel Nose Gear, Dual Wheel Nose Gear
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Which Trends Are Expected To Transform The Aircraft Landing Gear Market?
Leading entities in the aircraft landing gear market are prioritizing advancements in technology such as electric nose landing gear actuators as a means to boost efficiency, lessen weight, and expedite the move towards environment-friendly aviation. An electric nose landing gear actuator is an innovative solution that takes charge of the steering and extension/retraction of an airplane's nose landing gear utilizing electrical energy instead of the typical hydraulic systems. For example, in July 2022, Safran Landing Systems, a French producer of aircraft landing gear and related to the creation, progression, production, and customer assistance of all kinds of aircraft landing gear, wheels, and brakes, showcased its groundbreaking electric nose landing gear actuator at the Farnborough International Airshow. The goal is to enhance aircraft electrification through supplanting the usual hydraulic systems with electro-hydrostatic actuators propelled by an electric motor pump. This inventive system not only boosts actuation power and minimizes weight and management challenges, but it is also in line with Safran's pledge to sustainability and the creation of aviation solutions with reduced carbon emissions.
Who Are the Key Players in the Aircraft Landing Gear Market?
Major companies operating in the aircraft landing gear market include:
• Safran S.A.
• Raytheon Technologies Corporation
• Heroux-Devtek Inc
• Melrose Industries plc
• Parker Hannifin Corporation
• Triumph Group Inc.
• Liebherr-International AG
• Sumitomo Precision Products Co. Ltd.
• AAR Corp.
• Eaton Corporation
• Aircraft Landing Gear Co. Ltd
• SPP Nagasaki Engineering Co. Ltd
• Kawasaki Aerospace Company
• AVIC Aircraft Landing Gear Co. Ltd
• Commercial Aircraft Corporation of China Ltd
• Meggitt PLC
• Airbus S.A.S
• ZF Luftfahrttechnik
• ThyssenKrupp AG
• United Aircraft Corporation
• IRKUT Corporation
• PZL Warszawa
• Sukhoi
• Collins Aerospace
• Magellan Aerospace Corporation
• Boeing Co.
What Is The Most Dominant Region In The Aircraft Landing Gear Market?
North America was the largest region in the aircraft landing gear market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
