Aircraft Landing Gear Market

Market outlook:

The aircraft landing gear market is valued at USD 15.3 billion in 2023 and is forecast to grow to USD 58 billion by 2032. This significant growth reflects a compound annual growth rate (CAGR) of approximately 15.96 percent. An aircraft undercarriage is a system of undercarriage that supports an aircraft during landing, take-off and ground operations. It consists of wheels, springs, shock absorbers, brakes and retractable mechanisms. 

This system is critical to maintaining stability during taxiing, dampening the impact of landing, ensuring safe take-off and landing, and allowing ground mobility. The key factors are the development of aviation technology, the increasing demand for new aircraft and the need for efficient and reliable landing gear systems. As the aerospace industry continues to recover and expand, the landing gear market is expected to see significant investments, technological innovations, and an increasing emphasis on sustainable development, boosting its growth over the forecast period.

Aircraft Landing Gear Market

Size, by Product, - (USD Billion)

Main Landing Gear

Nose Landing Gear

Other Products

The Market will Grow

At the CAGR of:

15.96%

The Forecast Market

Size for in USD:

$58 billion

Key players:

1. Safran S.A.

2. Liebherr Group

3. United Technologies Corporation (UTC)

4. Honeywell International Inc.

5. GKN Aerospace

6. Héroux-Devtek Inc.

7. Triumph Group, Inc.

8. AAR Corp.

9. Circor International, Inc.

10. Magellan Aerospace Corporation

11. Collins Aerospace

12. SPP Canada Aircraft, Inc.

13. Eaton Corporation

14. Parker Hannifin Corporation

15. Hawker Pacific Aerospace

16. UTC Aerospace Systems

17. BAE Systems

18. Meggitt PLC

19. Sumitomo Precision Products Co., Ltd.

20. RUAG Group

Recent Developments:

• JUNE 26, 2024 Safran and MTU Aero Engines create EURA joint venture to power the next generation of European military helicopters.

Safran Helicopter Engines and MTU Aero Engines have signed the cooperation agreement to create the 50/50 joint venture EURA (derived from EUropean Military Rotorcraft Engine Alliance). This newly-created company will form the core of a larger program, which will collaborate with industrial and technological partners from several other European nations.

• 06/28/2024 Liebherr-Aerospace inaugurates new building for surface treatment.

Following the official opening in June 2024, Liebherr-Aerospace Lindenberg GmbH has started operations in its new purpose-built extension. The extra 1,000 square meters give the company space to develop and implement surface treatment technologies of the future. 

Competitive Analysis:

Competition in the landing gear market is characterized by several key players, including Safran S.A., Liebherr Group, United Technologies Corporation and Honeywell International Inc. These companies focus on strategic collaborations, mergers and acquisitions, and technological advancements. strengthen its market position. Innovations in materials and manufacturing processes and an emphasis on lightweight and durable vehicle systems are creating competition. In addition, cooperation with aircraft manufacturers and the expansion of service offerings are important strategies. Market growth is further fueled by rising investments in research and development aimed at improving the efficiency and effectiveness of landing gear systems.

Aircraft Landing Gear Market

Share, by end user, (USD Billion)

15.3 billion%

Original Equipment Manufacturers (OEMs)

Maintenance, Repair, and Overhaul (MRO) Service Providers

Other End-Users

58 billion

Total Market Size

USD (Billion),

15.96%

CAGR

-

Market segmentation:

By Type:

• Main Landing Gear: The primary gear that supports most of the aircraft's weight during landing and taxiing.

• Nose Landing Gear: Located at the front of the aircraft, it assists in steering and supports the aircraft during taxiing.

By Application:

• Commercial Aviation: Involves passenger and cargo aircraft used by airlines.

• Military Aviation: Aircraft used for defense purposes, including fighters, bombers, and transport planes.

• Business and General Aviation: Private jets and smaller aircraft used for business or personal travel.

By End User:

• Original Equipment Manufacturers (OEMs): Companies that design and manufacture landing gear systems for new aircraft.

• Maintenance, Repair, and Overhaul (MRO) Service Providers: Companies that provide aftermarket services to ensure the landing gear systems remain functional and safe.

Regional Analysis:

North America is a dominant region in the aircraft market. This dominance is due to the presence of major aircraft manufacturers such as Boeing and Lockheed Martin, which drive high demand for landing systems. Moreover, North America's strong civil aviation industry, with major airlines operating large fleets of aircraft, requires continuous maintenance and upgrades. Moreover, an extensive network of service, repair and maintenance providers ensures the longevity and safety of aircraft landing systems, reinforcing North America's market-leading position.

Aircraft Landing Gear Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

15.96%

The Forecast Market

Size for in USD:

$58 billion

Porter’s Analysis:

1. Threat of new entrants: The threat of new entrants is relatively low due to high barriers to entry, including significant capital investment, strict regulatory requirements and the need for advanced technology and expertise. Established relationships between existing manufacturers and key players in the aerospace industry further discourage new entrants.

2. Bargaining power of suppliers: Suppliers of special materials and components such as strong metal alloys and composites have significant bargaining power. The limited number of suppliers meeting the high-quality standards required in aviation contributes to their strong negotiating position.

3. Bargaining power of buyers: The bargaining power of buyers, mainly aircraft manufacturers and airlines, is moderate. Although wholesale buyers can negotiate favorable terms due to bulk purchases, the specific nature of vehicle systems and the need for high reliability and security reduce their impact. 

4. Threat of Substitutes: The threat of substitutes is low because there are no direct alternatives to aircraft landing systems. The critical function of the landing gear in the operation, safety and performance of the aircraft makes it indispensable to today's technology.

5. Competitiveness: Competitiveness in the market is high and is led by several incumbents such as Safran, Liebherr and Honeywell. Companies compete on technological innovation, product reliability and after-sales service, leading to continuous progress and strategic partnerships in the industry.

Key Benefits to Stakeholders:

• Aircraft Landing Gear Market analysis includes in-depth information on major industry players.

• Porter's five forces analysis helps to analyze the potential of buyers and suppliers and the competitive situation of the industry in strategy formulation.

• The report includes an in-depth analysis of the Aircraft Landing Gear Market forecast from 2024 to 2032.

• The report highlights the current global chlorine dioxide trends and the future scenario of the Aircraft Landing Gear Market from 2024 to 2032 to understand prevailing opportunities and potential investment pockets.

• Key drivers, restraints, and opportunities along with their detailed impact analysis are explained in the Aircraft Landing Gear Market study.

Key Market Drivers:

• Advances in Aviation Technology: Continued innovations in aircraft design and materials increase the demand for improved, lighter, more durable and more efficient landing gear systems.

• Increasing air traffic. Due to rising disposable income and middle-class population, increasing global air traffic is driving commercial aircraft production, which is driving the landing gear market.

• Military Modernization Programs: Major investments in the modernization of the military fleet, including the acquisition of new aircraft, will increase the demand for advanced landing systems.

• Emphasis on Safety and Reliability: The critical importance of landing gear systems to aircraft safety increases investment in quality and reliable landing gear solutions.

Key Trends:

• Use of lightweight materials: The introduction of composite materials and high-strength alloys to reduce aircraft weight and improve fuel efficiency is a significant trend in the market.

• Technical Innovations: Development of advanced undercarriage technologies such as electric and hybrid electric systems to improve performance and reduce maintenance costs.

• Expansion of MRO services: growth of the service, repair and maintenance sector to support the longevity and performance of landing gear systems.

• Sustainability Initiatives: Increasing focus on environmentally friendly and sustainable practices, including the use of greener materials and processes in landing gear manufacturing.

Aircraft Landing Gear Market TO (USD BN)

CAGR OF

15.96%

Aircraft Landing Gear Market

58 billion%

Key Restraints:

• High development costs: The significant capital investment required for research, development and production of advanced chassis systems can be a significant barrier.

• Strict regulatory requirements: Compliance with strict safety and performance standards set by aviation authorities makes landing gear development more complex and expensive.

• Supply chain disruptions: Dependence on a limited number of suppliers of specialty materials and components can cause supply chain problems and delays.

• Economic Uncertainty: Fluctuations in the global economy, which affect airline profitability and defense budgets, can affect the demand for new aircraft and thus the demand for landing gear.

Frequently Asked Question’s (FAQ’s):

1.What is the current Aircraft Landing Gear Market size?

In 2023 Aircraft Landing Gear Market was valued at USD 3.1 billion it is projected to grow to USD 7.0 billion by 2032.

2.Which is the fastest growing region in Aircraft Landing Gear Market?

North America is the fastest growing and dominating amongst other regions.

3.What is the CAGR for Aircraft Landing Gear Market?

The projected CAGR for Power Amplifier Market is 15.96% over the forecasted period of 2024-2032.

4.Who are the key players for Aircraft Landing Gear Market?

Safran S.A., Liebherr Group, United Technologies Corporation (UTC), Honeywell International Inc., GKN Aerospace, Héroux-Devtek Inc., Triumph Group, Inc., AAR Corp., Circor International, Inc., Magellan Aerospace Corporation, Collins Aerospace, SPP Canada Aircraft, Inc. are the current key players in Aircraft Landing Gear Market.