Global Aircraft Landing Gear Market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2018 to 2023. The valuation of the commercial aircraft landing gear market was further stated to surpass its previous valuation with the revenue pool getting wider.
The Global Commercial Aircraft Landing Gear Market comprises a host of key players. This includes names like Heroux-devtek (Canada), Circor Aerospace (US), United Technologies Corporation (US), GKN Aerospace (UK), Liebherr Group (Switzerland), Magellan Aerospace Corporation (Canada), Safran (France), AAR (US), Honeywell International (US), and Triumph Group (US).
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July 2019, SAMI, aka Saudi Arabian Military Industries, announced in a release about acquiring a major portion of the stake in Saudi entity of the Economic Offset Program, named Aircraft Accessories & Components Co. Ltd. The move is a key part of SAMI’s ongoing efforts in building a sustainable domestic defense industry in Saudi Arabia.
Global Commercial Aircraft Landing Gear Market has been segmented in terms of type, platform, and aircraft type.
By type, the market segments into nose landing gear and main landing gear. The main landing gear is broken down locking links, locking actuators, upper side stay, retraction/extension actuators, and lower side stay. The nose landing gear comprises telescoping nose leg, steering mechanism, steering actuator, and pintle pin.
As per 2017, the main landing gear segment occupied a major portion of the global segment. In the coming years, the segment is projected to grow at a significant pace to continue leading the global market. However, the nose landing gear segment is positioned reportedly to grow during the forecast period with the highest pace.
By aircraft type, the market is broken down into rotary-wing aircraft and fixed-wing aircraft. back in 2017, the global commercial aircraft landing gear market was spearheaded by the fixed-wing aircraft segment. The segment is projected to grow during the forecast period at a noticeable pace to continue its stay at the top of the standings. However, the rotary-wing segment is anticipated to move forward at a rapid pace by potentially gaining the highest CAGR over the forecast period.
By platform, the market divides into business & general aviation, commercial aviation, and military aviation. Back in 2017, the commercial aviation segment led the global commercial aircraft landing gear market with the highest share percentage. The segment is further reported to lead the market over the forecast period by growing at a considerable consistent pace. While the military aviation segment is anticipated to grow during the forecast period with the highest growth rate.
Global Commercial Aircraft Landing Gear Market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The North American region held the largest share in the commercial aircraft landing gear market back in 2017 and the story is expected remain the same during the forecast period till 2023. Asia Pacific is expected to garner massive demand between the forecast period.
Asia-Pacific will witness a significant demand between 2015 to 2035, accounting for more than half of the global passenger traffic. China will replace the US as the world’s largest aviation market around 2024. It is also expected that India will have the third highest passenger traffic in 2025. Therefore, there would be a rise in the demand of new aircraft, leading to the simultaneous demand for aircraft landing gear systems. There will further be scope and opportunities for the market players, especially in the emerging economies, across the globe. Aircraft landing gear OEMs also engage in provision of the in-house MRO services of the aircraft landing gear systems. Moreover, with the relaxation in stringent regulations in the aviation industry, rise in number of aircraft, and growing global connectivity, would also support the growth of the global market.
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