Companies In The Aircraft Landing Gear Market Focus On Manufacturing Lighter Landing Gear With Lower Complexity As Per The Business Research Company's Aircraft Landing Gear Market Report 2022
TBRC’s market research report covers aircraft landing gear market size, aircraft landing gear market forecasts, major aircraft landing gear companies and their market share, key strategies to undertake, and more.
LONDON, April 06, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the aircraft landing gear market, technological advancements in the manufacturing process are the key aircraft landing gear market trends being followed by the companies operating in the market. Companies are focusing on manufacturing lighter landing gear with lower complexity. For instance, in April 2021, US-based electric airplane company Metro Hop showcased its concept of Active Landing Gear with electric motors in each wheel. The new system is capable of shortening the takeoff and landing runs of electric airplanes. The lower power requirements and less complexity ensure a lower takeoff weight, leaving capacity for more passengers or cargo.
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The global aircraft landing gear market size is expected to grow from $10.77 billion in 2021 to $11.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.34%. The growth in the market is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global aircraft landing gear market share is expected to reach $16.06 billion in 2026 at a CAGR of 8.57%.
The increasing procurement of modern generation aircraft is expected to propel the growth of the aircraft landing gear market. Due to increasing demand for commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear is increasing, which is expected to drive the aircraft landing gear market. For instance, in July 2021, US-based airline company United Airlines placed orders for a combined 270 Airbus and Boeing narrow-body jets, including 200 737 Max and 70 A321neos.
Major players in the aircraft landing gear market are Safran, Collins Aerospace, Liebherr, Sumitomo Precision Products Co. Ltd, Triumph Group, AAR Corporation, CIRCOR International Inc, GKN Aerospace Services Ltd., Magellan Aerospace Corporation, SPP Canada Aircraft Inc, Hawker Pacific Aerospace, Revima Group, Meggitt PLC, Parker-Hannifin Corporation, Crane Co. and Moog Inc.
The global aircraft landing gear market is segmented by gear type into main landing gear, nose landing gear; by aircraft type into fixed wing, rotary wing; by end-user into OEM, aftermarket.
According to the aircraft landing gear industry growth analysis, in 2021, North America was the largest region in the market. Asia Pacific is expected to be the fastest-growing region in the global aircraft landing gear market during the forecast period. The regions covered in the global aircraft landing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Aircraft Landing Gear Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide aircraft landing gear market overviews, aircraft landing gear market analyze and forecast market size and growth for the whole market, aircraft landing gear market segments and geographies, aircraft landing gear market trends, aircraft landing gear market drivers, aircraft landing gear market restraints, aircraft landing gear market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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