Pune, India, January 10, 2022 (GLOBE NEWSWIRE) – The world aircraft landing gear market The size was $ 9.88 billion in 2020. The market is expected to grow from $ 10.79 billion in 2021 to $ 22.90 billion in 2028 at a CAGR of 17.9% during the period 2021-2028. This information is published by Fortune Business Insights ™, in its report entitled “Aircraft Landing Gear Market, 2021-2028”. and the growing trend of low cost and ultra low cost airlines in the aviation industry.
Impact of COVID-19
Aircraft orders canceled amid COVID-19 to affect aircraft delivery rates
The COVID-19 pandemic has influenced all industries, sectors and all characteristics of human life with agonizing economic and fiscal damage and substantial indecision. The aviation industry has seen a notable deterioration due to the complete decrease in air passenger traffic (both international and domestic) varying by 60% in 2020 compared to 2019.
Cover of the report
The report presents a detailed study of the market including current trends and future forecasts to estimate the investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, an in-depth regional analysis is proposed.
The impacts of COVID-19 have been added to the report to help investors and business owners better understand the threats. The major market players are identified and their strategies to support the market growth are shared in the report.
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List of Key Players Covered By The Aircraft Landing Gear Market Report:
- AAR Corporation (United States)
- Alaris Aerospace (United States)
- CIRCOR International Inc. (United States)
- Collins Aerospace (United States)
- GKN Aerospace (United Kingdom)
- Hawker Pacific Aerospace (United States)
- Héroux-Devtek Inc. (Canada)
- Liebherr Group AG (Germany)
- Magellan Aerospace Corporation (Canada)
- Safran SA (France)
- SPP Canada Aircraft Inc. (Canada)
- Triumph Group Inc. (United States)
On the basis of type, the market is categorized into Nose Type and Main Landing Gear.
By Platform, the market is categorized into Fixed Wing and Rotary Wing Aircraft Types.
In terms of type of arrangement, the market is divided into tail wheel, tandem and tricycle.
Based on the end user, market segments include OEM and aftermarket.
By components, the market is characterized by retraction systems, brakes and wheels, steering and others. The retraction systems segment is estimated to dominate the market and grow at a high CAGR during the forecast period.
Conductors and constraints
Increase the purchase of modern generation aircraft to propel market growth
The acquisition of modern generation aircraft has increased due to their improved functionality and fuel efficiency. In addition, with the growing demand for fleet expansion and the rise of low cost and ultra low cost carriers, the market is experiencing an exponential increase in commercial aircraft orders which is expected to drive this market.
In addition, increased spending on military aircraft by countries to enhance their defense skills is also expected to help in the growth of the aircraft landing gear market.
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North America will dominate the market thanks to the strong presence of aircraft manufacturers
North America was worth $ 3.85 billion in 2020 and is expected to hold the majority of the aircraft landing gear market share. This region dominated the global landing gear market in 2020.
The European market is expected to grow reasonably due to the emergence of notable vital players and equipment manufacturers such as Airbus, Leonardo Spa and Safran SA.
The Asia-Pacific region market is expected to show significant growth due to increased defense spending in military aviation.
Acquisition strategies by key companies to encourage market growth
The major market players are constantly opting for competent strategies to enhance their brand value and endorse the growth of the global product market with as few obstacles as possible. One of these competent strategies is to reach competitive companies and further strengthen profits for both companies.
Key industry development
August 2021: Precision Aviation Group, Inc. (PAG), which is a dominant supplier of aerospace and aviation products, said it has purchased Trace Aviation (TA), based in Jackson, Mississippi, United States
Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions & Partnerships
- Latest technological advances
- Porters Five Forces Analysis
- Supply chain analysis
- Quantitative analyzes – Impact of the COVID-19 pandemic on the global aircraft landing gear market
- Impact of the COVID-19 pandemic on the global aircraft landing gear market
- Measures taken by industry / business / governments to overcome the impact
- Key Industry Developments in Response to the COVID-19 Pandemic
- Potential opportunities due to the COVID-19 epidemic
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