"Smart Market Solutions to Help Your Business Gain Edge over Competitors"
The global aircraft landing gear market size was USD 11.55 billion in 2019 and is projected to reach USD 20.15 billion by 2027, exhibiting a CAGR of 11.78% during the forecast period.
The landing gear is one of the critical subsystems of an aircraft that demands smooth actuation and improved safety. The growth of this market can be attributed to the growing commercial aviation sector and the expansion of aircraft fleet by airlines. Moreover, the latest trend in the design and development of aircraft involving the replacement of hydraulic and pneumatic systems with electronic & electric systems is expected to boost market growth during the forecast period.
Recently, in July 2020, Safran Landing Systems, a supplier of landing gear for the 787 Dreamliner, integrated the 2020 ecoDemonstrator with a landing gear noise reduction system. These systems are considered as next-generation landing gears specifically designed and developed for modern long-haul aircraft.
COVID-19 Impact: Declining Air Passenger Traffic to Severely Affect Market
The COVID-19 outbreak has shattered the global aviation industry owing to the declining air passenger traffic. Overall, 51% of airline seats were reduced due to the pandemic, which caused a decrease of almost 2,888 million passengers, resulting in a potential loss of approximately 391 billion USD of airline revenue, as stated by the International Civil Aviation Organization (ICAO). Governmental restrictions on trade and travel along with the decreased demand for air travel among passengers have led to a huge revenue drop in the aviation industry. Thus, several airlines have canceled orders for new aircraft.
Moreover, the unavailability of staff due to lockdown in many countries has affected the supply chain. Major players such as Airbus SE have lowered their aircraft production rate. In June 2019, the CEO of Airbus announced that there will be a 40% drop in production and deliveries than originally planned. The implications of canceled orders and halted supply chains are expected to affect the aircraft landing gear market growth.
Request a Free sample to learn more about this report.
Increasing Adoption of Composite Materials for Landing Gear to Aid Expansion
Composites in the aerospace industry have offered remarkable benefits such as corrosion resistance, lightweight components, increased durability, and low manufacturing costs. Moreover, the growing need for lightweight aircraft has generated considerable demand for composite components that provide high strength and lightweight properties. Furthermore, mounting concerns over reducing carbon emissions have augmented the demand for improving aircraft efficiency, which has further spurred the adoption of composite materials.
Manufacturers such as GKN Aerospace and SGL Carbon SE are focused on the design and development of retraction systems using carbon fiber. For instance, in January 2020, SGL Carbon SE announced the commencement of serial production of aircraft landing gear systems using braided carbon fiber material. The systems are expected to be installed in 500 air taxis across the world over the next two years.
Rising GDP Growth in Emerging Economies to Increase Demand for Air Travel
There has been a rise in the disposable income of individuals owing to the economic growth in developing countries such as India and China. The rapidly expanding middle-class population in these countries is a major reason for the growing number of air passengers. According to the International Air Transport Association (IATA), the number of passengers traveling by air is expected to double to 8.2 billion by 2037. The high demand for air travel has led airlines to expand their aircraft fleet, which is expected to boost the market growth. Moreover, the increased flight hours are also likely to fuel the demand for aircraft landing gear.
Increasing Procurement of New Generation Aircraft to Foster Growth
The procurement of new generation aircraft has increased owing to their improved features and fuel-efficiency. Moreover, the rising demand for fleet expansion has led to an increase in new aircraft orders, which is expected to propel the market for aircraft landing gear. Furthermore, the increasing spending for military aircraft by countries to strengthen defense capabilities is also expected to aid the growth of the market. Lastly, the rise in the adoption of UAVs for military operations is expected to support and driving the market growth.
Rising Demand for Replacement & Modernization of Aircraft to Propel Market Growth
Landing gear components such as brakes, wheels, actuation systems, and others require continuous maintenance service as they undergo frequent wear & tear. The rising flight hours of an aircraft have led to an increase in landing gear maintenance and refurbishment, which is expected to spur opportunities for maintenance, repair, and overhaul (MRO) operators. Moreover, the increasing national defense budgets to modernize aircraft fleet by replacing the conventional landing gear systems with technologically advanced systems are predicted to further support the adoption of aircraft landing gear systems.
Safety Concerns Related to Landing Gear Systems to Hamper Market Growth
Landing gear systems experience a tremendous amount of force while take-off and landing. A slight mishap in the extension or retraction of the landing gear can lead to major aircraft disasters. In recent times, there have been a few airplane accidents, mostly at the time of aircraft landing, which has reiterated the risks surrounding landing gear systems. For instance, in May 2019, an aircraft belonging to Myanmar National Airlines failed to deploy its landing gear on time. Fortunately, the pilot was able to successfully land the airplane on its nose and save people’s lives. Landing gear deployment failure incidents have led manufacturers to improve gear designs in order to prevent such mishaps.
Rise in Commercial Aircraft Deliveries to Fuel Demand for Main Landing Gear
Based on type, the market is divided into nose landing gear and main landing gear. The main landing gear segment was estimated to be the largest segment in 2019, owing to the increased aircraft deliveries in Asian countries. The nose landing gear segment, on the other hand, is anticipated to grow at a higher CAGR during the forecast period owing to the development of advanced steering systems to facilitate the smooth steering of an aircraft.
Rotary-Wing Segment to Experience Significant Growth Backed by Heavy Demand for Military Helicopters
Based on platform, the market is classified into fixed-wing and rotary-wing aircraft types. The fixed-wing category is further segmented into commercial aircraft, business aircraft, military aircraft, regional jet, general aviation aircraft, and fixed-wing UAVs. The rotary-wing category is further divided into military helicopters, commercial helicopters, and rotary UAVs.
The fixed-wing segment is projected to be the largest segment during the forecast period owing to the rising number of commercial aircraft deliveries underpinned by the increasing demand for low-cost carriers. For instance, in October 2020, SKY Express, a Greek airline, placed an order for four Airbus A320neo aircraft.
The rotary-wing segment is predicted to be the fastest-growing segment during the forecast period, owing to the increased demand for helicopters from the defense sector in major Asian economies. For instance, in February 2020, India signed a deal worth USD 3.67 billion with the U.S. for the provision of 24 MH-60 Sikorsky Romeo multi-role helicopters and 6 Apache attack helicopters.
Tri-Cycle Segment to Hold the Highest Market Share; Increased Commercial Aircraft Orders to Aid Segmental Growth
Based on arrangement type, the market is classified into the tail wheel, tandem, and tri-cycle. The tri-cycle segment is predicted to hold the largest market share in 2019 as it is the most commonly used landing gear arrangement in commercial aircraft. Due to the increased commercial aircraft orders and deliveries, this segment is expected to dominate the market during the forecast period.
The tandem segment is anticipated to grow at a higher rate owing to the developing military aviation fleets and rising budgets for the procurement of next-generation fighter jets. Military aircraft use the tandem landing gear arrangement as it provides additional stability to the aircraft.
To know how our report can help streamline your business, Speak to Analyst
Retraction System Segment to Dominate Backed by Increased Flight Hours
Based on components, the market is divided into retraction systems, brakes & wheels, steering, and others. The retraction system segment is anticipated to dominate the market and grow at a high CAGR during the forecast period. This growth can be attributed to the rise in demand for replacement or repairing of retraction systems owing to increased flight hours of aircraft.
The brakes & wheels segment is expected to witness significant growth during the forecast period. The growth can be attributed to the increased flight hours of an aircraft as a result of the high demand for air travel. The decreasing lifespan of wheels & brakes due to increasing wear & tear is expected to support the segment’s growth. Rising research and development activities in aircraft steering systems are expected to fuel the growth of the segment.
OEM to be the Largest Segment as Airlines Focus on Fleet Expansion Activities
Based on end-user, the market segments include OEM and aftermarket. The OEM segment is predicted to lead the market during the forecast period due to the expansion of aircraft fleet by airlines in Asia Pacific and the Middle East. Increasing passenger traffic has led airlines to expand their aircraft fleet, which will fuel the growth of the market.
The aftermarket segment is expected to witness substantial growth owing to the increased number of flights per aircraft, thus decreasing the lifecycle of the landing gear.
North America Aircraft Landing Gear Market Size, 2019 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American market size stood at USD 4.49 billion in 2019. The region is anticipated to dominate the aircraft landing gear market share during the forecast period owing to the presence of key players such as Collins Aerospace. Moreover, the presence of leading aircraft manufacturers such as the Boeing Company and Bombardier Inc. is one of the major reasons for the growth of the market in the region.
Asia Pacific is expected to be the fastest-growing region owing to the increased defense spending on military aviation. Moreover, rising passenger traffic from emerging economies such as China and India will further boost regional market growth.
The Middle East & Africa region is expected to show significant growth through the forecast period owing to the increased orders for new aircraft by airlines in the UAE and Saudi Arabia. The growing tourism industry in the region is predicted to increase air passenger traffic, which, in turn, is expected to drive the growth of the landing gear market.
GKN Aerospace to Set New Standard with Its Composite Landing Gear Development
GKN Aerospace, with its investments in the research & development of composite manufacturing processes, is expected to bolster its position in the market. Together with the National Dutch Aerospace Laboratory, GKN is focused on developing automated composite manufacturing plants, having the largest robotic fiber braiding machines in Europe, with an aim to save costs and time. With strategic acquisitions and partnerships, the company is focused on growing its capabilities.
Moreover, other major players such as AAR Corporation, Safran SA, Collins Aerospace, and others are focused on transforming their products to offer cost-effective systems to their customers.
An Infographic Representation of Aircraft Landing Gear Market
To get information on various segments, share your queries with us
The aircraft landing gear market report provides a detailed industry analysis and focuses on key aspects such as leading companies, types of landing gear, and leading applications. Moreover, the report offers insights into the current market trends and highlights key industry developments. In addition to the factors mentioned above, the market report encompasses several direct and indirect factors that have contributed to the growth of the market over recent years.
Value (USD billion)
Type; Platform; Arrangement;
Component; End-User and Geography
Fortune Business Insights says that the global market size for aircraft landing gear was USD 11.55 billion in 2019 and is projected to reach USD 20.15 billion by 2027.
The market is projected to grow at a CAGR of 11.78% during the forecast period (2020-2027).
The fixed-wing segment is expected to be the leading segment in this market during the forecast period.
Safran SA is the leading player in the global market.
North America held the highest market share in 2019.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry