PUBLISHER: The Business Research Company | PRODUCT CODE: 1619706
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619706
Main landing gear refers to the key components of an aircraft's landing gear system that bear most of the aircraft's weight during landing and takeoff. It absorbs impact forces and provides ground maneuverability. The main purpose of the main landing gear is to support the aircraft's weight during landing, taxiing, and takeoff, as well as to cushion the impact when the aircraft lands on the runway.
The main types of landing gear are fixed and retractable. Fixed landing gear stays in a stationary position, is simpler to manufacture, and offers durability and ease of maintenance. It is typically used in smaller aircraft where speed and aerodynamic efficiency are less critical, providing better ground stability. Main landing gear is used in various applications, including commercial aircraft, military aircraft, business jets, and helicopters, and serves different end-users such as original equipment manufacturers (OEMs) and the aftermarket sector.
The main landing gears market research report is one of a series of new reports from The Business Research Company that provides main landing gears market statistics, including main landing gears industry global market size, regional shares, competitors with a main landing gears market share, detailed main landing gears market segments, market trends and opportunities, and any further data you may need to thrive in the main landing gears industry. This main landing gears market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The main landing gears market size has grown strongly in recent years. It will grow from $4.98 billion in 2023 to $5.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth during the historic period can be attributed to several factors, the increasing production of next-generation aircraft, rising demand for aircraft gearboxes, greater need for regional and business jets, improvements in manufacturing materials, and growing demand for both commercial and military aircraft.
The main landing gears market size is expected to see strong growth in the next few years. It will grow to $6.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth during the forecast period can be attributed to several factors, enhanced ground handling capabilities, rising demand for aircraft, increased emphasis on performance metrics, a growing focus on cybersecurity, and an overall rise in air travel demand. Major trends expected to influence this growth include advancements in materials and composites, the integration of smart sensors, developments in automation and robotic technologies, progress in hydraulic systems, and a growing emphasis on environmentally friendly landing gear solutions.
The increasing demand for air travel is projected to drive the growth of the main landing gear market in the future. Air travel involves using aircraft, such as airplanes or helicopters, to move between destinations. This rising demand is fueled by economic growth, globalization, a boost in tourism, and urbanization, which together lead to higher disposable incomes, expanded international business, and a greater interest in global travel. Main landing gears contribute to this demand by improving aircraft safety, performance, and reliability, thus enhancing passenger confidence and operational efficiency, which supports increased air travel. For example, in January 2024, the International Air Transport Association, based in Canada, reported that total air travel traffic in 2023, measured in revenue passenger kilometers (RPKs), grew by 36.9% from 2022, with December 2023 traffic up by 25.3% compared to December 2022. Consequently, the rising demand for air travel is boosting the main landing gear market.
Key players in the main landing gear market are concentrating on advanced solutions, such as reinforced main landing gear, to improve aircraft performance, safety, and durability. Reinforced main landing gear is designed with advanced materials and techniques to significantly enhance strength, durability, and overall performance. For instance, in September 2023, UAVOS Inc., a U.S.-based unmanned aircraft systems manufacturer, introduced an upgraded main landing gear for heavy-lift fixed-wing aircraft. This new system, capable of supporting aircraft with a maximum takeoff weight of up to 1200 kg, features advanced prepreg composite materials made through high-temperature molding, resulting in a 50% increase in strength and a notable reduction in weight compared to traditional steel alternatives. The lightweight design, weighing only 19 kg, aims to reduce aerodynamic drag and fuel consumption, thereby enhancing the operational flexibility and endurance of UAVOS's MALE UAS platforms.
In September 2022, Parker-Hannifin, a U.S.-based engineering firm, acquired Meggitt for EUR 6.3 billion ($17.6 billion). This acquisition is expected to expand Parker Aerospace's range of aircraft and aero-engine components, boost recurring revenue through aftermarket services, and create growth opportunities in commercial aerospace recovery, global aircraft fleet renewal, and emerging trends such as electrification and low-carbon technologies. Meggitt, a U.K.-based aerospace and defense company, specializes in landing gear, including main landing gear, braking systems, and polymer seals.
Major companies operating in the main landing gears market are The Boeing Company, Airbus SE, Northrop Grumman Corporation, Honeywell International Inc., Eaton Corporation, Safran, Collins Aerospace, Parker Hannifin Corp., Liebherr Group, SKF, ST Engineering, Spirit AeroSystems Inc., GKN Aerospace, Meggitt PLC, Triumph Group, Avio Aero, DAHER AEROSPACE INC., Heroux-Devtek, JAMCO Corporation, UAVOS INC., Aerospace Industrial Development Corporation, SPP Canada Aircraft Inc., UMBRAGROUP
North America was the largest region in the main landing gears market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the main landing gears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the main landing gears market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main landing gears market consists of sales of products including main landing gear struts, main landing gear wheels, main landing gear brakes, and main landing gear linkages. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Main Landing Gears Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on main landing gears market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for main landing gears ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The main landing gears market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.