The Aircraft gearbox market is projected to grow from an estimated USD 2.6 billion in 2021 to USD 3.6 billion by 2026, at a CAGR of 6.9% in terms of value during the forecasted period. The major growth drivers for this market include increase in demand for lightweight aircraft components and the demand for new aircrafts.
The aircraft gearbox market includes major players such as Liebherr (Switzerland), Safran (France), Rexnord Aerospace (US), Triumph Group (US), The Timken Company (US), and United Technologies Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the world
Based on End User, the OEM segment is projected to grow at the highest CAGR during the forecast period.
The OEM segment is expected to lead the aircraft gearbox market in North America during the forecast period, owing to the presence of leading aircraft manufacturers such as Boeing. An increase in aircraft orders, as well as deliveries and an increase in passenger traffic, are the factors driving the growth of the OEM segment.
Based on Application, the Engine segment is projected to grow at the highest CAGR during the forecast period.
Based on application, engine segment is projected to grow at the highest CAGR during the forecast period. The requirement of high powered engines and its components are also driving the growth of aircraft gearbox market.
Based on component, the gears segment is projected to grow at the highest CAGR during the forecast period.
The gear component segment is projected to witness the highest growth rate due to the increasing usage of a variety of gears for different platforms such as commercial aircraft, helicopters, fighters, and military transport aircraft during the forecast period.
“The North America region is estimated to lead the aircraft gearbox market in 2021”
The North American region is estimated to lead the aircraft gearbox market in the forecast period. The growth of the North America aircraft gearbox market is primarily driven by increasing focus on increasing investments in R&D of aircraft gearbox by countries in this region. In addition, factors including rising demand for lightweight and fuel-efficient turboprop and piston engine aircraft are expected to drive the demand for aircraft gearbox market in the region.
The break-up of the profiles of primary participants in the Aircraft gearbox market is as follows:
• By Company Type: Tier 1 - 55%; Tier 2 - 20%; and Tier 3 - 25%
• By Designation: C Level Executives - 75%; Directors - 25%;
• By Region: North America - 20%; Europe - 25%; Asia Pacific - 35%, and Rest of the world -20%
Major players in the Aircraft gearbox market are Liebherr (Switzerland), Safran (France), Rexnord Aerospace (US), Triumph Group (US), The Timken Company (US), and United Technologies Corporation (US).
This market study covers the Aircraft gearbox market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on platform, type, end user, component, application and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons To Buy this Report
This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall Aircraft gearbox market and its segments. This study is also expected to provide region-wise information about the applications wherein Aircraft gearbox solutions are used. It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the Aircraft gearbox market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on Aircraft gearbox products/ solutions offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Aircraft gearbox market
- Market Development: Comprehensive information about lucrative markets – the report analyses the Aircraft gearbox market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Aircraft gearbox market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the Aircraft gearbox market