The main landing gears global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Main Landing Gears Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The main landing gears market size has grown strongly in recent years. It will grow from $4.98 billion in 2023 to $5.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing production of next-generation aircraft, increasing demand for aircraft gearboxes, increasing demand for regional and business jets, improved manufacturing materials, and rising demand for commercial and military aircraft.
The main landing gears market size is expected to see strong growth in the next few years. It will grow to $6.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to improved ground handling capabilities, growing demand for aircraft, increasing focus on performance metrics, increasing focus on cybersecurity, and rising demand for air travel. Major trends in the forecast period include advancement in materials and composites, integration of smart sensors, development in automation and robotic technologies, the development of advanced hydraulic systems, and growing emphasis on developing environmentally friendly landing gear.
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Scope Of Main Landing Gears Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Main Landing Gears Market Overview
Market Drivers –
The rising demand for air travel is expected to propel the growth of the main landing gear market going forward. Air travel refers to the mode of transportation that involves traveling in aircraft, such as airplanes or helicopters, to move from one location to another. The demand for air travel is rising due to economic growth, globalization, increased tourism, and urbanization, all of which contribute to higher disposable incomes, more international business operations, and a greater desire for global exploration. Main landing gears drive demand for air travel by enhancing aircraft safety, performance, and reliability, which in turn boosts passenger confidence and operational efficiency, leading to increased air travel. For instance, in January 2024, according to the International Air Transport Association, a Canada-based trade association, total air travel traffic in 2023, measured in revenue passenger kilometers (RPKs), increased by 36.9% compared to 2022, with December 2023 traffic specifically rising by 25.3% compared to December 2022. Therefore, rising demand for air travel is driving the growth of the main landing gear market.
Market Trends –
Major companies operating in the main landing gear market are focusing on technologically advanced solutions, such as reinforced main landing gear, to enhance aircraft performance, safety, and durability. Reinforced main landing gear refers to a type of aircraft landing gear that has been engineered and constructed using advanced materials and design techniques to significantly enhance its strength, durability, and performance. For instance, in September 2023, UAVOS Inc., a US-based manufacturer of unmanned aircraft systems, unveiled an upgraded main landing gear designed specifically for heavy-lift fixed-wing aircraft. This innovative landing gear system, engineered to support aircraft with a maximum takeoff weight of up to 1200 kg, incorporates advanced prepreg composite materials manufactured through a high-temperature molding process, resulting in a 50% increase in strength and a significant reduction in weight compared to traditional steel alternatives. The lightweight design, weighing only 19 kg, aims to minimize aerodynamic drag and fuel consumption, ultimately enhancing the operational flexibility and endurance of UAVOS’s MALE UAS platforms.
The main landing gears market covered in this report is segmented –
1) By Type: Fixed, Retractable
2) By Application: Commercial Aircraft, Military Aircraft, Business Jets, Helicopters
3) By End-User: Original Equipment Manufacturer (OEM), Aftermarket
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Regional Insights –
North America was the largest region in the main landing gears market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the main landing gears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the main landing gears market are The Boeing Company, Airbus SE, Northrop Grumman Corporation, Honeywell International Inc., Eaton Corporation, Safran, Collins Aerospace, Parker Hannifin Corp., Liebherr Group, SKF, ST Engineering, Spirit AeroSystems Inc., GKN Aerospace, Meggitt PLC, Triumph Group, Avio Aero, DAHER AEROSPACE INC., Héroux-Devtek, JAMCO Corporation, UAVOS INC., Aerospace Industrial Development Corporation, SPP Canada Aircraft Inc., UMBRAGROUP
Table of Contents
- Executive Summary
- Main Landing Gears Market Report Structure
- Main Landing Gears Market Trends And Strategies
- Main Landing Gears Market – Macro Economic Scenario
- Main Landing Gears Market Size And Growth
…..
- Main Landing Gears Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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