Commercial Aircraft Landing Gear Market Estimated At USD 4.24 Billion By 2030

Posted by Neha Bora on June 7th, 2024

San Francisco, 7 June 2024: The Report Commercial Aircraft Landing Gear Market Size, Share & Trends Analysis Report By Gear Position (Main Landing, Nose Landing), By Component, By Aircraft Type, By Arrangement Type (Tricycle, Tandem, Tailwheel), By Region, And Segment Forecasts, 2023 - 2030

The global commercial aircraft landing gear market size is expected to reach USD 4.24 billion by 2030, expanding at a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing income levels of the middle-class population and rising affordability have resulted in air travel to become the preferred choice of travel. Airlines are increasingly making efforts to expand their fleet size to address the growing demand for air travel effectively. The growth in fleet size is anticipated to drive the global commercial aircraft landing gear market over the forecast period.

The replacement of aging landing gear components in existing aircraft fleet by advanced systems is expected to impact the growth positively. The surging demand for retrofitting of landing gear systems/components is mainly driven by an increase in airline traffic, which requires frequent upgrading of such systems. Aircraft manufacturers across the globe are investing heavily towards the adoption of new efficient systems in modern aircraft to avoid service failure and accidents, as well as increase the overall longevity.

A new class of systems is being developed, which is adaptive to various landing situations. The use of controllable fluid devices, such as Magnetorheological (MR) and Electrorheological (ER) shock absorbers, are some of the new technologies used for innovative landing gears’ development. The research for new materials for aerospace applications is gaining traction. These materials are being developed to accomplish weight reduction, durability, cost economies, robustness, and environmental responsibility.

Increasing environmental concerns, airspace modernization, and new rules and regulations pertaining to airplane component specifications have significantly contributed to the retirement of the older fleet of airplanes. The aerospace industry has incorporated additive manufacturing throughout all functions and processes, from design concept to repair applications. The increasing success of this has gradually resulted in it being a multipurpose technology.

Access Research Report of Commercial Aircraft Landing Gear Market @ https://www.grandviewresearch.com/industry-analysis/commercial-aircraft-landing-gear-market

Commercial Aircraft Landing Gear Market Report Highlights

• Electronically controlled anti-skid braking systems are replacing traditional electro-mechanical antiskid systems as the former enhance the efficiency during touchdown
• Main landing gears are anticipated to remain as the highest revenue generating segment over the forecast period as they are regarded to be one of the vital systems used to support the aircraft during takeoffs and landings
• Wide-body aircraft are now being used into domestic routes as well, owing to their lower operational costs and higher profit margins
• Actuation systems are projected to witness the highest growth over the forecast period owing to the increasing demand for contemporary electronic actuation systems to overcome issues of fire hazard and leakage
• Asia Pacific is anticipated to emerge as the fastest growing region over the next eight years primarily due to substantial growth in the commercial aviation sector across developing nations, such as India, Malaysia, and China

Commercial Aircraft Landing Gear Market Report Scope

List of Key Players in Commercial Aircraft Landing Gear Market

• AAR
• Advantage Aviation Technologies
• CIRCOR AEROSPACE PRODUCTS GROUP
• Eaton
• Héroux-Devtek
• Honeywell International Inc.
• Magellan Aerospace Corporation
• Liebherr
• MAG Inc.
• Sumitomo Precision Products Co., Ltd. (SPP)
• Safran Landing Systems
• UTC Aerospace Systems (United Technologies Corporation (UTC))
• Triumph Group
• Whippany Actuation Systems

Access Press Release of Commercial Aircraft Landing Gear Market @ https://www.grandviewresearch.com/press-release/global-commercial-aircraft-landing-gear-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon