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The Aircraft Gearbox is a transmission system that is used to achieve different Rpm at different altitudes every engine is equipped with a gearbox which in turn drives different components like generators, hydraulic pumps, fuel pumps and other accessories. The global aircraft gearbox market is likely to witness an impressive CAGR during the forecast period. The aircraft gearbox market is witnessing significant growth due to increasing air passenger load and the growing demand for lightweight composite-made aircraft components. These factors are expected to push the global aircraft gearbox market during the forecast period.
Increasing commercial aircraft deliveries along with a growing demand for new generation Pure-Power Geared Turbofan (GTF) engines, advancements in gearbox technology, and introduction of lightweight gearboxes are some of the factors propelling the growth of the aircraft gearbox market. Covid-19 has impacted the market drivers, competition, and supply chains as the government have suspended all assembly lines and manufacturing firms or ordered them to work with 50% of their total manpower to eliminate the risk of virus spread.
Key Market Driver -
• Surplus demand of new generation engines and transmission units • Increased commercial aircraft deliveries
Key Market Restraint -
• The high cost of initial development. • Distruption of supply chain in the market due to COVID-19 outbreak.
The market is segmented by aircraft type, application, gearbox type, component, End User, and Geography
Based on the aircraft type, the market is segmented as commercial aircraft, general aviation aircraft, and military aircraft. The commercial segment is anticipated to dominate the market owing to an increase in air passenger traffic. Based on the gearbox type, the market is segmented by the accessory gearbox, actuator gearbox, reduction gearbox, auxiliary power unit (APU) gearbox, tail rotor gearbox, and others. The reduction gearbox segment is anticipated to dominate the market owing to the growing demand for turboprop engines for commencing regional air transport flights. Based on the application, the market is distributed as types of engines such as turbofan, turboshaft, turboprop, turbojet, and piston engine The growing adoption of turbofan engines for new generation commercial aircraft is anticipated to fuel the growth of the segment. Based on Component, the aircraft gearbox market has been segmented as Gears, Housing, bearings and others. By end-user, the market segment is distributed into Original Equipment Manufacturers and aftermarket sectors such as the MRO industry and airline operators. The Original Equipment Manufacturers(OEMs) dominate the market owing to Surplus demand for new generation transmission units.
GE Aerospace (The U.S.), Safran (France), Liebherr (Switzerland), Rolls-Royce plc (UK)Raytheon Technologies Corporation (The U.S.) Aero Gearbox International (The U.K.), Rexnord Corporation (The U.S.) The Boeing Company (The U.S.), Triumph Group (The U.S), Avion Group (Netherlands), CEF Industries (The U.S.), Collins Aerospace (The U.S.), and SKF (Sweden) among others.
The Aircraft gearbox market has been segmented into North America, Europe, Asia Pacific, and the rest of the world North America dominated the global aircraft gearbox market in 2020. Additionally, The Aviation and aerospace sector in the North American region is growing at a rapid speed, which has ultimately created a substantial demand for aircraft gearbox. The presence of key players, like GE Aerospace and Rexnord Corporations have successfully contributed in boosting the growth of the aircraft gearbox market in North America. The market in Europe is expected to grow moderately owing to the presence of prominent aircraft OEMs such as Airbus S.A.S and Rolls Royce are expected to drive the market growth in the region. The market in the Asia-Pacific region is projected to register the highest CAGR during the forecast period. Countries such as China and Japan are likely to remain the major players in this region, whereas India, due to its rapid growth in the commercial aircraft sector, this country is emerging as the fastest-growing market over the same period. The Middle East consists of some potential buyers like Emirates, Qatar, Etihad, and many more emerging airlines are the major player in making the global aircraft gearbox market grow during the forecast period.
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By Aircraft type
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