The global aircraft landing gear market size is expected to grow from $10.77 billion in 2021 to $11.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.34%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global aircraft landing market size is expected to reach $16.06 billion in 2026 at a CAGR of 8.57%.
What is the Global Aircraft Landing Gear Market?
The aircraft landing gear market consists of sales of landing gear by entities (organizations, sole traders, and partnerships) that are used in both takeoff and landing in aircrafts. Aircraft landing gears is the undercarriage of an aircraft which supports the aircraft to take off, land, and taxi without any damage. It generally consists of structural members, hydraulics, energy absorption components, brakes, wheels, and tires and provides direct control of the aircraft through the provisions of integrating supportive systems for the aircraft.
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What drives the Global Aircraft Landing Gear Market?
The increasing procurement of modern generation aircrafts is expected to propel the growth of aircraft landing gear market. Due to increasing demand of commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear increases, which is expected to drive the aircraft landing gear market. For instance, in July 2021, US based airline company, United Airlines placed orders for a combined 270 Airbus and Boeing narrow body jets, including 200 737 Max and 70 A321neos. Thus, the increasing procurement of modern generation aircrafts is driving the growth of the aircraft landing market.
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Global Aircraft Landing Gear Market Segments
The global aircraft landing gear market is segmented:
By Gear Type: Main Landing Gear, Nose Landing Gear
By Aircraft Type: Fixed Wing, Rotary Wing
By End-User: OEM, Aftermarket
By Geography: The regions covered in the aircraft landing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aircraft Landing Gear Global Market Report 2022provides market size and growth forecasts for the global aircraft landing gear market, global aircraft landing gear market share, aircraft landing gear market segments and geographies, aircraft landing gear market competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft landing gear market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aircraft Landing Gear Industry Playersinclude Safran, Collins Aerospace, Liebherr, Sumitomo Precision Products Co. Ltd, Triumph Group, AAR Corporation, CIRCOR International Inc, GKN Aerospace Services Ltd., Magellan Aerospace Corporation, SPP Canada Aircraft Inc, Hawker Pacific Aerospace, Revima Group, Meggitt PLC, Parker-Hannifin Corporation, Crane Co. and Moog Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
