SELBYVILLE, Del. - January 11, 2021 - (Newswire.com)
Global Market Insights, Inc. has recently added a new report on the aerospace landing gear market which estimates the market valuation for aerospace landing gear will cross US$ 19 billion by 2026. Increasing penetration of air traffic growth in the emerging countries will drive demand for new aircraft and the aerospace landing gear market.
Major industry players such as Safran Landing Systems are compressing their design & development cycle to reduce cost and improve product availability. Furthermore, companies are adopting innovative technologies and designs, such as additive or 3D manufacturing, to overcome functional and non-functional challenges. Steps taken by manufacturers to reduce weight, minimize volume, and enhance performance & life cycle will boost the landing gear market share. For instance, in 2017, Liebherr-Aerospace manufactured nose landing gear brackets for Airbus A350 XWB. These nose landing gear brackets are manufactured using additive manufacturing.
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The tri-cycle segment is estimated to hold over USD 15 billion by 2026. Tri-cycle landing gears are widely used in all the latest aircraft, driving aerospace landing gear industry growth. Most jet-powered aircraft are equipped with tri-cycle gears to avoid blasts and high-speed gases from causing damage to the surface. Moreover, tri-cycle gears are easier to handle and have reduced weight & drag compared to their counterparts.
Latin America will witness over 4.5% CAGR in the global aerospace landing gear market. The region witnessed high passenger growth post-government stabilization and improved economic performance. Low-cost carriers are undergoing hybridization to attract business passengers. According to CAPA, in the last ten years, the number of seats available in airlines in Latin America increased by 3.2 times. The growth of LCCs will increase aircraft demand, thereby positively influencing the aerospace landing gear market size across the region.
The key players are focusing on investments in new technologies, joint ventures, and acquisitions to increase their global footprint or acquire advanced technologies to cater to the increasing demand from the aerospace landing gear market. Manufacturers are also focusing on making contracts with government authorities or aircraft manufacturers. For instance, in March 2017, AAR Corp. received a contract worth USD 909 million from the U.S. Air Force for landing gears, which will last for the next 15 years. The company will provide the Air Force with support in the distribution, purchasing, remanufacturing, and inventory control.
Some major findings of the aerospace landing gear market report include:
- The strong aviation industry in Asia Pacific can be attributed to developing economies and an increase in disposable incomes, leading to rising air passenger traffic.
- The constant requirement to reduce the overall aircraft weight to improve operational efficiency has led to the introduction of lightweight landing gears. They are built from aluminum and composites, boosting revenue generation over the projected timeframe.
- Nose/Tail LG demand highly depends on the design consideration of the aircraft. It offers a steering feature using hydraulic power to steer the nose gear. Assembly of the product with the usage of high-performance shock struts with an internal metering tube will fuel product growth.
- The MRO segment is expected to observe significant growth worldwide due to the mandatory check of the aircraft, thus requiring replacement of the product.
- The ongoing COVID-19 pandemic has affected air travel across the globe due to strict widespread lockdowns and travel restrictions by various government authorities worldwide. Moreover, according to the Association of Asia Pacific Airlines (AAPA), the air cargo demand in May 2020 declined by 19%, which is likely to negatively impact the overall demand for aerospace landing gears in 2020.
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Partial chapters of report table of contents (TOC):
Chapter 3 Global Aerospace Landing Gear Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Component suppliers
3.2.2 Manufacturers
3.2.3 Profit margin analysis
3.2.4 Distribution channel analysis
3.2.5 End-users
3.2.5.1 OEM
3.2.5.2 MROs
3.2.6 Vendor matrix
3.3 Technology landscape
3.3.1 Brake System
3.3.2 Nose Wheel Steering System
3.3.3 CAX Technologies
3.3.4 Maintenance
3.3.4.1 Health monitoring
3.3.4.2 Wireless sensor network
3.3.4.3 RFID Technology
3.4 Information on the MRO market
3.4.1 Changing trend from heavy overhaul to on-condition MRO
3.4.2 MRO spend comparison between Boeing & Airbus Aircraft
3.5 Pricing trends
3.5.1 By Region
3.5.1.1 North America
3.5.1.2 Europe
3.5.1.3 Asia Pacific
3.5.1.4 Latin America
3.5.1.5 MEA
3.6 Overhaul pricing trends, by region
3.6.1.1 North America
3.6.1.2 Europe
3.6.1.3 Asia Pacific
3.6.1.4 Latin America
3.6.1.5 MEA
3.6.2 Cost structure analysis, 2019
3.7 Regulatory landscape
3.7.1 U.S.
3.7.2 Europe
3.7.3 Asia Pacific
3.7.4 Latin America
3.7.5 MEA
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 North America
3.8.1.2 Europe
3.8.1.3 Asia Pacific
3.8.1.4 Latin America
3.8.1.5 MEA
3.8.2 Industry pitfalls & challenges
3.8.2.1 Design and development challenges
3.8.2.2 High MRO expenses
3.9 Innovation & sustainability
3.10 Growth potential analysis, 2019
3.11 Porter's analysis
3.12 Competitive landscape
3.12.1 Top player's analysis, 2019
3.12.2 Strategy dashboard
3.13 PESTLE analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Related Links
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Original Source: Aerospace Landing Gear Market to Hit $19 Bn by 2026; Global Market Insights, Inc.
