Global Aircraft Landing Gear Market: Current Analysis and Forecast (2024-2032)

Report Description

Global Aircraft Landing Gear Market Size & Forecast

The Global Aircraft Landing Gear Market was valued at USD 23,078.01 million in 2023 and is expected to grow at a strong CAGR of around 4.19% during the forecast period (2024-2032) owing to rising demand for commercial and military aircraft industry across the globe.

Global Aircraft Landing Gear Market Analysis

The Aircraft landing gear refers to the undercarriage of an aircraft, which is used for landing, take-off, and taxing while supporting the weight. It also helps the aircraft to stand when it is not flying and hold the aircraft in its position. The respective wheeled landing gears are retractable when the aircraft is flying in order to reduce the air drag created on the aircraft. These landing gears are of a robust nature and absorb the shock of aircraft weight when they land on the runway. Considering the rising demand for both commercial as well as military aircraft across the globe the demand for landing gear is rising.

The Global Aircraft Landing Gear Market was valued at USD 23,078.01 million in 2023 and is expected to grow at a strong CAGR of around 4.19% during the forecast period (2024-2032). One of the key factors that has remarkably supported the demand for aircraft landing gear is the rising demand for commercial as well as military aircraft. Landing gears are of a robust nature and require and undergo lesser overhaul or changes, due to which the demand for new generation aircraft has majorly supported its demand. Many of the factors have supported the rise of the Aircraft Landing Gear Market, of which the expansion of the commercial aviation industry requires new aircraft to expand their operations. For instance, according to Boeing Corporation, between 2023-2042, a total number of 32,420 narrowbody aircraft would be delivered. Of this, nearly 40% would be used for low-cost carrier operations across the globe. It is a significant number of commercial jets that would be crucial for the upcoming surge in the demand for landing gear for aircraft.

In another instance, in 2023, Scoot, a Singapore-based airline, announced its plans to purchase nine brand-new E190-E2 regional jets. The respective jets will be added to the fleet in March 2024.

Considering the rising demand for commercial jets and orders being placed by the leading airlines across the globe, the demand for new aircraft landing gear among the aircraft manufacturers is anticipated to significantly rise in the forthcoming years, i.e., 2024-2032.

Global Aircraft Landing Gear Market Trends

This section discusses the key market trends that are influencing the various segments of the Global Aircraft Landing Gear Market as identified by our team of research experts.

Rising Demand for New Commercial Aircraft

Commercial aircraft demand has surged significantly in recent years. Some of the leading factors that have contributed to the growth are the burgeoning middle-class population in developing countries opting for air travel and the leading promotion of air travel services. In line with this, many of the leading aviation companies have announced the purchase of a large number of commercial jets to tap the rising potential in the air travel category. For instance, in 2024, Taiwan’s Eva Airways Corp announced the purchase of 33 new Airbus A320 aircraft with a total cost of USD 10.1 billion. According to the company, the purchase would significantly reduce carbon emissions and would cater to its sustainability goals.

In another instance, for instance, in 2024, China’s state-owned company, Air China, announced the purchase of approximately 100 domestically manufactured c919 commercial jets from the Commercial Aircraft Corporation of China (Comac).

Considering the high demand for commercial jets across the globe to fulfill the rising need to accommodate the passenger travel surge, the production capacity enhancement of the respective category would also experience promulgation.

Additionally, with the surge in production assisted by the upcoming demand from aviation, a sizeable market growth of aircraft landing gear is anticipated to emerge in the forecasted years, i.e., 2024-2032.

Asia Pacific is Expected to Hold Major Market Share During Forecast Period

Asia Pacific region has held the major market share in the global landing gear market. Some of the key factors that have contributed to the market growth are the high demand for commercial as well as military aircraft in the region among the vastly developing countries such as China, India, Indonesia, etc. Asia-Pacific has held the dominant market share across the globe due to the vast population and the extensively rising middle-class population using air travel. With the rise of low-cost carrier services, the aviation industry in the Asia-Pacific region has significantly grown, which has led to the higher integration of commercial aviation jet fleets in countries such as China, India, Japan, South Korea, Thailand, etc. These countries, with the rising number of fleets for commercial aircraft as well as impending demand for aircraft spare parts for maintaining air fleet operations, have promoted the market growth of aircraft landing gear. The Aircraft Landing Gear Market in the Asia Pacific region is experiencing rapid growth and transformation, driven by increasing air travel demand, expanding fleets, and advancements in aerospace technology. Countries like China, Japan, India, South Korea, and Singapore are key contributors to this dynamic market.

Many of the recent developments have been observed in the Asia Pacific region, which would be crucial for the upcoming surge In the market growth of aircraft landing gear in the Asia Pacific region. For instance, in 2024, the government of India initiated its plans to upgrade 272 Sukhoi 30 MKI jets from Russia with a total cost of USD 7.2 billion. A comprehensive upgrade of the mainstay Su 30MKI fighter jet fleet that will see the aircraft get new radars, mission control systems, electronic warfare capabilities, and integration of new weapon systems will experience heavy participation from the private sector.

Considering the rising growth of the Asia Pacific region with both population and economic growth supporting air travel and military expansion, the demand for both aircraft and landing gears would exhibit an explosion in the demand during 2024-2032.

Global Aircraft Landing Gear Industry Overview

The Global Aircraft Landing Gear Market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Safran, Triumph Group, Liebherr, Collins Aerospace, Heroux-Devtek, Eaton, GKN Aerospace Services Ltd., Parker Hannifin Corp., Moog Inc., and Circor Aerospace Products Group.

Global Aircraft Landing Gear Market News

In 2023, the Defense Acquisition Council of India announced the purchase of 97 additional Tejas fighter jets and 156 Prachand attack helicopters. Both aircraft are domestically produced in India and would cost approximately USD 13 billion.

In January 2024, the government of France announced the purchase of an additional 42 upgraded Rafale Jets with a total cost of USD 5.5 billion. The respective aircraft will be delivered between 2027 to 2032.

Global Aircraft Landing Gear Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Aircraft Landing Gear Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Aircraft Landing Gear Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Aircraft Landing Gear Market were the three major steps undertaken to create and analyze the adoption of Global Aircraft Landing Gear in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the Global Aircraft Landing Gear Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global Aircraft Landing Gear Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Global Aircraft Landing Gear Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as by aircraft type and by end user. Further regional/country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global Aircraft Landing Gear Market. Further, we conducted factor analysis using dependent and independent variables such as by aircraft type and by end user in the Global Aircraft Landing Gear Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global Aircraft Landing Gear Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Aircraft Landing Gear Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Global Aircraft Landing Gear Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Global Aircraft Landing Gear Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global Aircraft Landing Gear Market. Data was split into several segments and sub-segments after studying various parameters and trends in the by aircraft type and by end user in the Global Aircraft Landing Gear Market.

The main objective of the Global Aircraft Landing Gear Market Study

The current & future market trends of the Global Aircraft Landing Gear Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Global Aircraft Landing Gear Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of by aircraft type and by end user.
• Define and analyze the regulatory framework for Global Aircraft Landing Gear Market in the aviation industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Global Aircraft Landing Gear Market for the major regions.
• Major countries of regions studied in the report include North America (The US, Canada, and Rest of North America), Europe (The UK, France, Germany, Italy, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World
• Company profiles of the Global Aircraft Landing Gear Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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