“The aircraft landing gear market is projected to grow at a CAGR of 6.23% during the forecast period, 2016 to 2021”
The growth of the global aircraft landing gear market is dependent on the increased number of deliveries of aircraft, ultralight aircraft, and unmanned aerial vehicles in various countries across the world. The global aircraft landing gear market is projected to grow from USD 9.71 billion in 2016 to USD 13.14 billion by 2021, at a CAGR of 6.23% from 2016 to 2021. Increase in the air passenger traffic across the globe, upgradation of aircraft, and unmanned aerial systems in military programs across the world, are the key factors driving the aircraft landing gear market across the globe. However, the existing aircraft production backlog is expected to hinder the market growth over the forecast period.
“Among platform, the fixed wing segment of the aircraft landing gear market is projected to lead the market from 2016 to 2021”
Based on platform, the global aircraft landing gear market has been segmented into the fixed wing, and rotary wing aircraft. The fixed wing segment is anticipated to account for the largest market share of the global aircraft landing gear market during the forecast period. The high growth of the fixed wing aircraft segment can be attributed to the increasing demand for commercial aircraft, business jets, and fighter jets, among others.
“The commercial aviation segment is projected to witness fastest growth in aircraft landing gear market during the forecast period”
The commercial aviation segment is expected to be the fastest growing segment in the global aircraft landing gear market during the forecast period. The commercial aviation industry in the emerging regions such as the Asia-Pacific, Middle East, and Latin America has been witnessing positive growth over the past few years. As a result, there is a high demand for new aircraft from these regions and this trend is expected to continue over the next twenty years according to The Boeing Company and Airbus SAS. Hence, the growth in the commercial aviation industry is expected to drive the global aircraft landing gear market during the forecast period.
““Aircraft landing gear market in the Asia-Pacific region projected to grow at the highest CAGR from 2016 to 2021, whereas, the North American region expected to account for the largest share of the market”
The North American region is expected to lead the aircraft landing gear market during the forecast period, owing to technological advancements taking place in aircraft landing gears. North America is the major hub for the aviation industry in terms of passenger traffic, and the presence of established market players such as The Boeing Company (U.S.), Bombardier Inc. (Canada), Lockheed Martin (U.S.). There is increasing aircraft production by the aforementioned aircraft manufacturers as a result of the increasing demand for new aircraft from the Asia-Pacific and Middle Eastern regions. Increasing aircraft production is one of the key factors driving the aircraft landing gear market in the North American region. The market in the Asia-Pacific region is expected to grow at the fastest rate during the forecast period as a result of emerging aircraft manufacturers such as The Commercial Aircraft Corporation of China, Ltd. (China), and Mitsubishi Aircraft Corporation (Japan).
Break-up of profiles of primary participants for this report:
• By Company Type - Tier 1 – 35%, Tier 2 – 45% , and Tier 3 – 20%
• By Designation – C level – 35%, Director level – 25%, and Others – 40%
• By Region – North America - 45%, Europe – 30%, Asia-Pacific – 20%, and RoW – 5%
Safran S.A. (France), Liebherr-International AG (Switzerland), CIRCOR International, Inc. (U.S.), H?roux-Devtek Inc. (Canada), UTC Aerospace Systems (U.S.), and Triumph Group, Inc. (U.S.), among others, are the key players operating in the global aircraft landing gear market.
This report segments the global aircraft landing gear market on the basis of type, application, platform, and region. Based on type, the market is segmented into main and nose landing gear. Based on application, the market is segmented into commercial, business, military, and others. Based on platform, the market is segmented into fixed wing, and rotary wing. Based on aircraft type, the global aircraft landing gear market has been classified into narrow body, wide body, very large aircraft, and regional transport aircraft.
Reasons To Buy the Report:
From an insight perspective, the global aircraft landing gear market report focuses on various levels of analyses ? industry analysis, market rank analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape; high-growth regions, and countries as well as their respective regulatory policies, drivers, restraints, and opportunities in the global aircraft landing gear market.
The global aircraft landing gear market report provides insights on the following pointers:
• Market Penetration: Comprehensive mapping of the competitive landscape and behavior of participants in the global aircraft landing gear market
• Market Size: Market sizes for the financial year, 2014-2015 and for the forecast period, 2016 to 2021
• Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the global aircraft landing gear market
• Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, restraints, and opportunities prevailing in the global aircraft landing gear market
• Market Development: Comprehensive information about lucrative markets with an analysis of markets for landing gears across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global aircraft landing gear market
• Regional Analysis: Factors influencing market shares in the North American, European, the Middle- Eastern, Asia-Pacific, and the rest of the world regions
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading market players