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(Transportation-News.com, April 08, 2020 ) Market Overview
• The Global Aerospace landing gear Market is expected to grow at a CAGR of 7.5% in the forecast period of 2020-2027.
• Aerospace landing gear is a structure which is installed on the aircraft to support the weight of the aircraft while it is on the ground and also allows it to land safely.
• Aerospace landing gear also provides mobility to the aircraft on ground or water. Aircraft require landing gear for taxiing, take-off, and landing.
• Traditionally, aircraft were incorporated with skids and these were used as its landing gear. Traditional skids required various arrangements for wheels and structures to connect to the airplane.
• However, new generation aircraft usually have retractable undercarriages, which fold away during the flight to reduce the air resistance.
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Market Dynamics
• Globally heavy procurement of unmanned aerial systems and fighter aircraft in military programs are the key factors driving the demand for aircraft landing gear market.
• The growth is supported by Asia-Pacific and Middle-Eastern regions with increasing demand for new aircraft from regional airline companies.
• In addition, the introduction of advanced tools and equipment including wireless sensor networks, RFID tags, and structural health monitoring systems in landing gear systems are continuously showing an upward trend for the industry growth.
• Complex design and development involved in the manufacturing of aerospace landing gears along with high expenses involved in the introduction of lightweight materials may hamper the aerospace landing gear market.
• Adhering to government regulation, lower volume and weight requirements along with the focus on reducing the overall costs will pose a significant challenge to engineers and designers.
Segmentation Analysis
• Global aerospace landing gear market is segmented based on application into commercial and military or defense segment.
• The commercial end-user segment is anticipated to account for the largest market share in the global aerospace landing gear market.
• The increasing demand for new aircraft from regional airline companies in the Asia-Pacific and Middle-Eastern regions is one of the primary reason for the growth in the market.
• The rising air passenger traffic, especially in the Asia-Pacific countries such as India and China, as a result of rising affordability which in turn influencing the market growth positively.
• Global aerospace landing gear market is segmented on the basis of arrangement type. It is categorized as tricycle, tandem and tail wheel segment.
• Tricycle segment is anticipated to continue its dominance during the forecast period in comparison with tail-wheel and tandem landing gear.
• The reason for its dominance can be credited to the predominant usage of wheel arrangement in the commercial aircraft. Improved stability while landing operations along with the enhanced center of gravity will further boost the segment growth in the forecast period.
Geographical Share
• Based on the geography, the market is segmented as North America, South America, Europe, Asia Pacific and Rest of the World.
• The North American region is anticipated to lead the global aerospace landing gear market during the projected period, owing to technological advancements taking place in aircraft landing gear market and the presence of key aircraft manufacturers, such as The Boeing Company (US) and Bombardier Inc. (Canada).
• Increasing aircraft orders from the regional airline companies, especially from Asia-Pacific and Middle-Eastern regions are driving the growth of the North American aircraft landing gear market.
• Growing military modernization programs, which include the increased procurement of advanced fighter jets, and unmanned air vehicles, among others, are also expected to drive the North American landing gear market during the forecast period.
• Asia Pacific aerospace landing gear market will grow approximately at XX% CAGR over the forecast period. This growth can be attributed to the rising air traffic across the region.
• The emergence of low-cost carriers along with increasing affordability and improving tourism sector will further support the regional growth over the forecast period.
Competitive Trends
• Global aerospace landing gear market is fragmented due to the presence of many international players. Some of the key players are AAR Corp., Eaton Corporation, GKN Aerospace, Heroux-Devtek, Inc., Liebherr Group, Magellan Aerospace, Safran Landing Systems, UTC Aerospace Systems, Hawker Pacific Aerospace, and Convair.
• Industry participants are continuously investing in R&D activities for improving the product and complying with stringent government regulations.
• Most manufacturers are incorporating innovative materials for manufacturing landing gears including aluminum based composites to reduce the landing gear system weight and increase efficiency.
• Collins Aerospace, one of the prominent players in the global aerospace landing gear market is enhancing the market competitiveness through new purchase orders. For instance, in February 2019, Collins Aerospace has received purchase orders from Boeing and Saab to provide the aircraft’s fully integrated landing gear system.
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