PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1453086
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1453086
The aircraft gears market is estimated to grow from USD 325 million in 2023, to USD 403 million in 2028, at a CAGR of 4.4%. Constant innovation in gears, such as modular designs, tooth profiles, and composite materials fuels the demand for upgraded gears across both commercial and military aviation. The increasing demand for seamless operation in aircraft, driven by efficiency requirements, propels the market for aircraft gears.
Scope of the Report | |
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Years Considered for the Study | 2019-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Billion) |
Segments | By Platform, End User, Gear Type and Application |
Regions covered | Asia Pacific, Europe, and North America |
"OEM segment by end user is expected to hold the highest CAGR during the forecast period."
Based on end user, the aircraft gears market is categorized into OEM and aftermarket. The increasing global demand for commercial and military aviation drives the OEM aircraft gears market. As aircraft manufacturers experience higher delivery and production rates, the demand for integrated aircraft gears grows. Airlines seek gears that improve overall operational efficiency, increase aircraft reliability, and enhance operator's experience. Aircraft gears that offer such operational enhancements become crucial for aircraft manufacturers to remain competitive. Overall, both OEM and aftermarket segments are crucial for the sustainable growth of the aircraft gears market.
"Commercial Aviation segment by platform is estimated to hold the highest market share in 2023."
Based on Platform, the market is further divided into military aviation, and commercial aviation. Major industry players are actively engaged in developing advanced commercial aviation aircraft gears to explore emerging opportunities in this market. The commercial aviation sector's demand for aircraft gears is primarily driven by the growing need for fuel efficiency and reduced emissions. Technological advancements in materials and manufacturing processes, aimed at producing lighter and more durable gears, are crucial to enhancing aircraft performance and operational efficiency. Additionally, the growing global aircraft fleet size, driven by increased air travel demand, necessitates robust aftermarket services, further fueling the aircraft gears market.
"Spur gears by gear type segment is expected to hold the highest market share in 2023."
Based on gear type, the aircraft gears market is further segmented into spur gears, bevel gears, helical gears, rack and pinion gears, and others. The growth of the spur gears segment within the aircraft gears market is primarily driven by their essential role in ensuring efficient power transmission for various aircraft systems. Spur gears are favored for their simplicity, reliability, and ease of manufacture, making them a cost-effective solution for the aviation industry. Their application in critical systems, such as flight control and propulsion, demands precision engineering to withstand high-speed operations and minimize noise levels.
"North America is expected to hold the highest market share in 2023."
Defense budgets in North America support military modernization efforts, leading to the incorporation of advanced systems in military aircraft. The demand for gear for fighter jets, surveillance aircraft, and other military platforms is one of the major drivers. With a substantial existing fleet, the North American aviation industry places significant emphasis on gears upgrades and retrofits. Airlines and operators seek modernization solutions for older aircraft, driving the demand for retrofit gears to enhance performance and compliance with evolving regulations. North America covers the US and Canada for market analysis. In North America, major aircraft manufacturers like Boeing continually invest in next-generation aircraft programs. The development of advanced platforms, such as the Boeing 737 MAX and Airbus A320neo families, creates opportunities for aircraft gears with enhanced capabilities. The strategic partnerships and collaborations between gears manufacturers and major aircraft manufacturers like Boeing and Airbus contribute to the growth of the aircraft gears market. Joint initiatives often lead to the development of innovative aircraft gears tailored to specific aircraft models.
Arrow Gear (US), Precipart (US), Batom Co. Ltd (Taiwan), Gear Motions (US), Gibbs Gears (UK). These key players offer connectivity applicable to various sectors and have well-equipped and strong distribution networks across North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.
In terms of End User, the aircraft gears market is divided into OEM and Aftermarket. The end user segment of the aircraft gears market is OEM and Aftermarket.
The Platform based segmentation includes commercial aviation and military aviation.
Based on Gear type, the aircraft gears market is further segmented into Spur Gears, Helical Gears, Bevel Gears, Rack and Pinion Gears, and Others.
Based on Application, the aircraft gears market is further segmented into Auxiliary Power Unit, Actuators, Pumps, Air Conditioning Compressors, and Others
This report segments the Avionics market across six key regions: North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America, along with their respective key countries. The report's scope includes in-depth information on significant factors, such as drivers, restraints, challenges, and opportunities that influence the growth of the aircraft gears market.
A comprehensive analysis of major industry players has been conducted to provide insights into their business profiles, solutions, and services. This analysis also covers key aspects like agreements, collaborations, new product launches, contracts, expansions, acquisitions, and partnerships associated with the aircraft gears market.
This report serves as a valuable resource for market leaders and newcomers in the aircraft gears market, offering data that closely approximates revenue figures for both the overall market and its subsegments. It equips stakeholders with a comprehensive understanding of the competitive landscape, facilitating informed decisions to enhance their market positioning and formulating effective go-to-market strategies. The report imparts valuable insights into the market dynamics, offering information on crucial factors such as drivers, restraints, challenges, and opportunities, enabling stakeholders to gauge the market's pulse.