Dublin, Aug. 10, 2021 (GLOBE NEWSWIRE) -- The "Global Aircraft Landing Gear Market by Type (Main Landing Gear, Nose Landing Gear), Sub-system (Actuation System, Steering System, Brake System), End-use (OEM, Aftermarket), Aircraft Type (Fixed Wing, Rotary Wing), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global market for aircraft landing gear is estimated to be USD 6.9 billion in 2021 and is projected to reach USD 9.6 billion by 2026, at a CAGR of 6.7%.
The growth of this market is mainly driven by the increasing aircraft deliveries due to growing passenger traffic and upgrades in existing aircraft. Advancements in existing types of aircraft as well as new technological developments for enhancements in aircraft performance and efficiency are expected to drive the market for aircraft landing gear across the globe.
The aircraft landing gear market includes major players like Collins Aerospace (US), Safran (France), Liebherr (Switzerland), Heroux-Devtek (Canada) and Triumph Group (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. The COVID-19 pandemic has impacted the end-use industries adversely, resulting in a sudden dip in 2020 aircraft orders and deliveries. This is expected to negatively impact the aircraft market in the short term, with slow recovery expected in Q1 of 2021.
The main landing gear segment is expected to grow the largest, based on type of landing gears. Increasing aircraft deliveries and technological advancements such as the need for minimum weight, minimum volume, high performance, and improved life of landing gear systems is expected to drive the market for aircraft landing gear.
The actuation system segment is projected to witness a higher CAGR during the forecast period
Based on sub-system, the actuation system segment is projected to be the highest CAGR rate for the aircraft landing gear market during the forecast period. The growth of the actuation system segment can be attributed to various technological advancements for the incorporation of high-efficiency, high-tolerance, and durability in landing gear systems is expected to boost the market for sub-systems. Aircraft modernization programs such as UAVs, hybrid VTOLs, and AAMs are also expected to boost the market.
The Fixed Wing Segment is projected to witness the highest CAGR during the forecast period
Based on the aircraft type, the fixed wing segment is projected to grow at the highest CAGR rate for the aircraft landing gear market during the forecast period. The fixed wing segment is projected to have the largest growth due to the rising number of commercial aircraft deliveries and a boost in the orders of business jet and general aviation aircraft. Military fixed wing aircraft are also seeing a rise due to the rise in orders for fighter aircraft and UAVs owing to the rise in tension across borders, especially in the Middle East and Asia Pacific regions.
The Aftermarket segment is projected to witness the highest CAGR during the forecast period
Based on the end user, the aftermarket segment is projected to grow at the highest CAGR rate for the aircraft landing gear market during the forecast period. The need for timely maintenance, repair, and overhaul (MRO) services especially replacements of parts and systems, and also the fact that new MRO facilities are opening are some of the reasons the aftermarket segment is seeing the growth.
The North America market is projected to contribute the largest share from 2021 to 2026
Aircraft landing gear market in North America is projected to hold the highest market share during the forecast period. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aircraft landing gears to increase their sales year on year. The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as Collins Aerospace (US), Triumph group (US), Parker Hannifin (US) and Crane Co. (US) are expected to drive the aircraft landing gear market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aircraft landing gears.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Aircraft Landing Gear Market
4.2 Aircraft Landing Gear Market, by Aircraft Type
4.3 Aircraft Landing Gear Market, by Type
4.4 Aircraft Landing Gear Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Aircraft Renewals and Deliveries
5.2.1.2 Need for More Intelligent and Light Aircraft with Improved Light-Weighted Systems
5.2.2 Restraints
5.2.2.1 Regulatory Barriers Leading to Restrictions in Entry into Landing Gears Market
5.2.2.2 Low Aftermarket due to the Longer Lifespan of Landing Gears
5.2.3 Opportunities
5.2.3.1 New Materials and Technologies Used to Increase Efficiency
5.2.3.2 AAM Industry is Expected to See Adoption During the Coming Decade
5.2.4 Challenges
5.2.4.1 Manufacturing Challenges Faced by OEMs and MRO Organizations
5.2.4.2 Impact of COVID-19 and Decrease in Aircraft Deliveries and Backlogs
5.3 Value Chain Analysis
5.4 Operational Data
5.5 Ranges and Scenarios
5.6 Technology Analysis
5.6.1 Increasing Use of Composites and Metal Alloys
5.6.2 More Electric or All Electric Systems Replacing Conventional Systems
5.6.3 Use of Low Corrosive Materials and Corrosion Protection Agents
5.7 Aircraft Landing Gear Market Ecosystem
5.8 Disruptions Impacting Customers' Businesses
5.9 Case Study Analysis: Aircraft Landing Gear Market
5.10 Average Selling Price
5.11 Trade Data Analysis
5.12 Tariff and Regulatory Barriers
5.13 Porter's Five Forces Analysis
6 Industry Trends
6.1 Introduction
6.2 Technology Overview
6.2.1 Landing Gear Structures
6.2.2 Actuation Systems
6.2.3 Steering System
6.2.4 Braking System
6.3 Supply Chain Analysis
6.4 Futuristic Aircraft Platform
6.5 Impact of Megatrends
6.6 Innovation and Patent Analysis
7 Aircraft Landing Gear Market, by Type
7.1 Introduction
7.2 Main Landing Gear
7.3 Nose Landing Gear
8 Aircraft Landing Gear Market, by Sub-System
8.1 Introduction
8.2 Actuation System
8.3 Steering System
8.4 Brake System
8.5 Others
9 Aircraft Landing Gear Market, by Aircraft Type
9.1 Introduction
9.1.1 Impact of COVID-19 on the Aircraft Type Market
9.1.1.1 Highest Impacted Segment, by Aircraft Type
9.1.1.2 Least Impacted Segment, by Aircraft Type
9.2 Fixed Wing
9.2.1 Commercial Aviation
9.2.1.1 Narrow Body Aircraft (NBA)
9.2.1.1.1 Growth in Air Passenger Traffic to Drive Demand
9.2.1.2 Wide Body Aircraft (WBA)
9.2.1.2.1 Increase in Aircraft Renewals and Upgradations to Drive Market
9.2.1.3 Regional Transport Aircraft (RTA)
9.2.1.3.1 Increasing Demand for Regional Transport Aircraft in the US and India to Drive Market Growth
9.2.2 Business Jet & General Aviation
9.2.2.1 Business Jet
9.2.2.1.1 Increase in Private Players Opting for Business Jets
9.2.2.2 Light Aircraft
9.2.2.2.1 Technology Advancements and Modernization of General Aviation to Drive Demand
9.2.3 Military Aviation
9.2.3.1 Fighter Aircraft
9.2.3.1.1 Rising Concerns Over Border Tensions to Drive Demand
9.2.4 Transport Aircraft
9.2.4.1 Increasing Use of Transport Aircraft in Military Operations to Drive Demand
9.2.5 Special Mission Aircraft
9.2.5.1 Rising Defense Spending and Territorial Disputes to Drive Demand
9.2.6 Unmanned Aerial Vehicle
9.2.6.1 Ability to Fly for Long Durations to Drive Demand
9.3 Rotary Wing
9.3.1 Civil Helicopter
9.3.1.1 Light Civil Helicopter
9.3.1.1.1 High Maneuverability and Ability to Climb High Altitudes Increasing Usage for Multiple Purposes
9.3.1.2 Medium Civil Helicopter
9.3.1.2.1 Speed and Stability in Extreme Conditions as Well as Comfort Increasing Usage for Multiple Purposes
9.3.1.3 Heavy Civil Helicopter
9.3.1.3.1 Ruggedness and Strength Increasing Usage for Multiple Purposes
9.3.2 Military Helicopter
9.3.2.1 Light Military Helicopter
9.3.2.1.1 High Maneuverability and Stealth Driving Demand
9.3.2.2 Medium Military Helicopter
9.3.2.2.1 Significant Presence in Anti-Surface Warfare and Enforcement Activities
9.3.2.3 Heavy Military Helicopter
9.3.2.3.1 Used Extensively in Utility Missions and Extreme Environments
10 Aircraft Landing Gear Market, by End-user
10.1 Introduction
10.1.1 Impact of COVID-19 on the End-use Segment
10.1.1.1 Highest Impacted Segment, by End-user
10.1.1.2 Least Impacted Segment, by End-user
10.2 OEM
10.2.1 Increasing Aircraft Deliveries to Drive the Segment
10.2.2 Fixed Wing
10.2.3 Rotary Wing
10.3 Aftermarket
10.3.1 Increasing Aircraft Fleet Size to Drive the Segment
10.3.2 Fixed Wing
10.3.3 Rotary Wing
11 Regional Analysis
12 Competitive Landscape
13 Company Profiles
13.1 Key Players
13.1.1 Safran
13.1.2 Triumph Group, Inc.
13.1.3 Liebherr
13.1.4 Collins Aerospace
13.1.5 Heroux-Devtek
13.1.6 Eaton Corporation plc
13.1.7 GKN Aerospace Services Limited
13.1.8 Parker-Hannifin Corporation
13.1.9 Crane Co.
13.1.10 Circor Aerospace Products Group
13.1.11 Honeywell International Inc.
13.1.12 Magellan Aerospace Corporation
13.1.13 Moog Inc.
13.1.14 Tamagawa Seiki Co. Ltd.
13.1.15 Mecaer Aviation Group
13.1.16 Sumitomo Precision Products Co. Ltd.
13.1.17 Whippany Actuation Systems
13.1.18 NMG Aerospace
13.1.19 Aequs, Inc.
13.1.20 Integral Aerospace
13.1.21 APPH Group
13.1.22 Beaver Aerospace & Defense, Inc.
13.1.23 Aero Fluid Products
13.1.24 Tactair
13.1.25 Umbria Aerospace Systems
14 Appendix
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