Aircraft Landing Gear Market: Current Analysis and Forecast (2024-2032)

The Aircraft landing gear refers to the undercarriage of an aircraft, which is used for landing, take-off, and taxing while supporting the weight. It also helps the aircraft to stand when it is not flying and hold the aircraft in its position. The respective wheeled landing gears are retractable when the aircraft is flying in order to reduce the air drag created on the aircraft. These landing gears are of a robust nature and absorb the shock of aircraft weight when they land on the runway. Considering the rising demand for both commercial as well as military aircraft across the globe the demand for landing gear is rising.

The Global Aircraft Landing Gear market was valued at USD 23,078.01 million in 2023 and is expected to grow at a strong CAGR of around 4.19% during the forecast period (2024-2032). One of the key factors that has remarkably supported the demand for aircraft landing gear is the rising demand for commercial as well as military aircraft. Landing gears are of a robust nature and require and undergo lesser overhaul or changes, due to which the demand for new generation aircraft has majorly supported its demand. Many of the factors have supported the rise of the aircraft landing gear market, of which the expansion of the commercial aviation industry requires new aircraft to expand their operations. For instance, according to Boeing Corporation, between 2023-2042, a total number of 32,420 narrowbody aircraft would be delivered. Of this, nearly 40% would be used for low-cost carrier operations across the globe. It is a significant number of commercial jets that would be crucial for the upcoming surge in the demand for landing gears for aircraft.

In another instance, in 2023, Scoot, a Singapore-based airline, announced its plans to purchase nine brand-new E190-E2 regional jets. The respective jets will be added to the fleet in March 2024.

Considering the rising demand for commercial jets and orders being placed by the leading airlines across the globe, the demand for new aircraft landing gear among the aircraft manufacturers is anticipated to significantly rise in the forthcoming years, i.e., 2024-2032.

Based on Aircraft type, the global aircraft landing gear market is bifurcated into fixed-wing aircraft and rotary-wing aircraft. These two segments are further divided into commercial and military aircraft. Considering the high demand for fixed-wing aircraft, both commercial and military aircraft, the segment has held dominant positions across the globe. Fixed-wing aircraft include a wide range of aircraft used for long-range air travel and military missions, including narrowbody jets, widebody jets, regional jets, cargo jets, fighter jets, AWACS, etc. All of the mentioned categories are extensively used for stable long-range operations with higher fuel efficiency. The rotary wing section is basically focused on both commercial and military helicopters. The respective category provides vertical landing and take-off capability, due to which it becomes a versatile option for air travel in places where there is little to no landing zone. Additionally, for short-range operations, the rotary-wing aircraft offer a sizeable advantage in terms of fuel efficiency.

Based on End Users, the Aircraft Landing Gear market is segmented into OEM (Original Equipment Manufacturer) and Aftermarket. Of these, the OEM category has held a major market share in the aircraft landing gears market. One of the leading factors that has supported the dominant market share of OEM is the high demand for commercial and military aircraft, as well as the longer overhaul time for aircraft landing gears. Additionally, landing gears are made of robust material and require lesser maintenance as compared to other consumable items, such as tires and brakes attached to them. The other category, aftermarket, has also held a sizable market share due to the vast fleet availability in both the commercial aviation industry and air forces across the globe. As the fleet of aircraft continues to rise in the coming years, the demand for aftermarket parts, including the aircraft landing gears, would increase to a notable degree.

For a better understanding of the market adoption of Aircraft Landing Gear, the Global Aircraft Landing Gear market is analyzed based on its worldwide presence in regions such as North America, Europe, Asia-Pacific, and the Rest of the World. Of these, the Asia Pacific region held the largest share in 2023. Asia Pacific has a vast demand for commercial and military aircraft, and it is looking forward to comprehensively supporting research & development around aviation challenges and their potential technological solutions. Additionally, the region is home to some of the largest manufacturers of commercial and military jets and aerospace crafts across the globe. Considering the vast volume of production, the region is further anticipated to dominate the demand for Aircraft Landing Gear in the coming period.

Some of the major players operating in the market include Safran, Triumph Group, Liebherr, Collins Aerospace, Heroux-Devtek, Eaton, GKN Aerospace Services Ltd., Parker Hannifin Corp., Moog Inc., and Circor Aerospace Products Group.