Commercial Aircraft Landing Gear Market Insights:
The global commercial aircraft landing gear market is expected to grow at a high CAGR over the forecast period due to the growing demand for new aircrafts by major airlines. Moreover, the rising procurement of unmanned aerial systems and fighter aircraft in military programs are projected to foster growth. Demand from countries such as Canada, China, Brazil, and Japan are anticipated to augment market growth over the coming years.
However, the profitability of this industry is affected by the high costs associated with the raw materials such as rising energy costs. The backlog in aircraft production is also anticipated to hinder market growth.
Commercial Aircraft Landing Gear Market: Gear Position Insights
On the basis of gear position, the industry is segmented into main and nose landing. The market for main landing is expected to occupy the highest share owing to its importance as one of the primary requirements for aircraft. The industry for nose gear landing is also projected to grow significantly over the forecast period due to the higher stress on the nose gear during landing.
Commercial Aircraft Landing Gear Market: Platform Insights
The industry can be segmented into fixed and rotary wing aircraft on the basis of platform. Out of these, the market for rotary wing segment is expected to dominate over the forecast period owing to the rising demand from the military sector for helicopters. The growing demand for helicopters can be attributed to its rising application in emergency medical services, transportation, and surveillance among others.
Commercial Aircraft Landing Gear Market: Component Insights
By component, the Commercial Aircraft Landing Gear Market is segmented into actuation system, wheel & brake system, and steering system. The market for steering and wheel & brakes are projected to grow significantly owing to the replacement of the conventional systems by electronic systems which is expected to improve accuracy and steering rate.
Commercial Aircraft Landing Gear Market: Aircraft Type Insights
The industry can be segmented into Narrow Body Aircraft (NBA), Wide Body Aircraft (WBA), Very Large Aircraft (VLA), and Regional Transport Aircraft (RTA) on the basis of aircraft type. The market for NBA is expected to grow significantly over the forecast period owing to the rising number of high-density flights between various airports and the increasing passenger traffic in Low Cost Carriers (LCC’s).
Commercial Aircraft Landing Gear Market: Arrangement Insights
By arrangement, the Commercial Aircraft Landing Gear Market is segmented into tricycle and tandem. The market for tricycles is expected to grow significantly over the forecast period as it provides better visibility from the flight deck during ground manoeuvring. Moreover, the market for tandem is also anticipated to witness a lucrative growth over the forecast period due to application of flexible wings with gears under the fuselage.
Commercial Aircraft Landing Gear Market: Application Insights
Commercial aircraft landing gear finds its application in the commercial, business and military segment. The commercial aviation sector is anticipated to dominate the market over the forecast period. It consists of NBA, WBA, VLA and RTA. High growth is expected to arise from the Middle East and Asia Pacific due to the rising air passenger traffic, thereby, increasing demand for new aircrafts.
Commercial Aircraft Landing Gear Market: Regional Insights
The market in North America are anticipated to witness an accelerated growth over the forecast period owing to the presence of key aircraft manufacturers in the region. Technological advancements related to aircraft landing gear along with rising procurement of aircrafts by the military are also projected to foster demand. Asia Pacific and the Middle East are also expected to emerge as the key revenue generating regions. This can be associated with the rising demand for aircraft by major airline companies.
Commercial Aircraft Landing Gear Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase commercial aircraft landing gear over the coming years. Some leading consumers of this market are Boeing, Airbus, Honeywell, Hindustan Aero, and Aerojet Rocketdyne.
Commercial Aircraft Landing Gear Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Héroux-Devtek Inc. (Canada), Triumph Group, Inc. (The U.S.), Safran S.A. (France), UTC Aerospace Systems (The U.S.), CIRCOR International, Inc. (U.S.), and Liebherr-International AG (Switzerland).
In December 2017, Stirling Dynamics entered into a contract with WheelTug to deliver an electrical system for a powered nose-wheel for the Boeing’s 737NG of single-aisle aircraft. 737NG is expected to push back, taxi and manoeuvre around airports without using tugs or main engines.
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