Global landing gear market primed for boost: report
Improving global economic conditions has led to continuous increase in air traffic over the past few years. This has fuelled the demand of aircrafts which in turn is driving the growth of the aircraft landing gear market.
Aircraft landing gear supports the entire weight of the aircraft during landing, take-off, and while parked. Aircraft landing gear varies according to the platform. For snow, skis type of landing gears are used, for water, pontoon type of landing gears are preferred whereas for ground, retractable wheels landing gears are used.
The low-cost carriers, which operate in short routes widely prefer narrow body aircrafts. Due to this reason, narrow body aircrafts are expected to dominate the aircraft type segment during the forecast period. On the other hand, wide body and very large body aircrafts are used for connecting international destinations. Based on platform, ground dominates the global aircraft landing gear market. Based on application, commercial aviation dominates the aircraft landing gear market. However, military aviation is expected to witness significant growth during the forecast period. Based on wing type, rotary wing is projected to witness a faster growth due to increasing use in military helicopters.
The growing need of global connectivity coupled with fare cut of air transport is expected to fuel the demand of aircraft, which in turn is expected to drive the growth of the global aircraft landing gear market. Moreover, increasing procurement of UAVs and fighter jets across the globe is further expected to upsurge the demand of aircraft landing gear market during the forecast period.
However, lack of safety regulations for aircraft landing gear is expected to hamper the growth of the market during the forecast period. Additionally, high R&D cost for the development of the product is further expected to restrict the growth of the market.
The global aircraft landing gear market can be segmented on the basis of product type, aircraft type, platform, wing type and application. On the basis of product type, the global aircraft landing gear market can be segmented into single type landing gear, double type landing gear, tandem type landing gear and bogie type landing gear. On the basis of aircraft type, the market can be segmented into narrow body aircraft, wide body aircraft and very large body aircraft. On the basis of platform, the aircraft landing gear market can be segmented into ground, water and snow. On the basis of wing type, the market can be segmented into fixed wing and rotary wing. On the basis of application, the global aircraft landing market can be segmented into commercial aviation, business aviation and military aviation.
Based on regions, North America is expected to be a prominent revenue generating region in the global aircraft landing gear market. Growing military modernization such as procurement of unmanned aerial vehicle, and advanced military jets are expected to upsurge the demand of aircraft landing gear market in North America during the forecast period. Europe is projected to witness a relatively faster growth in the near future. In Asia Pacific, China and India are projected to grow at significant rates during the forecast period. Emerging middle class and increasing disposable incomes in this region are expected to escalate the demand of aircraft in Asia Pacific, which in turn drives the growth of aircraft landing gear market in this region.
Examples of some of the players identified in the aircraft landing gear market across the globe are as mentioned below:
UTC Aerospace Systems, Circor Aerospace, Héroux-Devtek, Liebherr-Aerospace, Safran Landing Systems, Aerospace Turbine Rotables, Inc., APPH Group, SPP Canada Aircraft, Inc., Fokker Technologies
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