Jan 17, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Landing Gear Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Landing Gear Market is likely to witness an impressive CAGR of 8.2% during the forecast period. Procurement of fighter aircraft and unmanned aerial systems in military programs across the world and the increasing demand for new aircraft from regional airline companies in the Asia-Pacific and Middle-Eastern regions are the major factors bolstering the demand for aircraft landing gear across the globe during the forecast period.
Aircraft Landing Gear refers to the aircraft’s undercarriage that is responsible for landing and taking off purpose. It is also responsible in offering support to the aircraft when the aircraft is not flying.
Aircraft Landing Gear can be of main landing gear and nose landing gear. It is used in almost all types of aircraft such as commercial, business, military, narrow-body, wide-body, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the application type, the market is segmented as commercial, business, military, and others. The commercial aviation segment includes narrow-body aircraft, wide-body aircraft, very large aircraft, and regional transport aircraft. The mounting demand for new aircraft from regional airline companies in the Asia-Pacific and Middle-Eastern regions is one of the prime factors underpinning the market. In addition, the market is driven by the increasing air passenger traffic, owing to the rising affordability, which is translating into the demand for new aircraft, thereby influencing the market growth positively.
Based on the platform type, the market is segmented as fixed wing and rotary wing. The rotary wing segment is estimated to register a faster growth in the coming five years, owing to the growing demand for helicopters from the military sector. Demand for helicopters is due to the rising application of helicopters for emergency medical services, transport, and special missions.
In terms of regions, the North American region is expected to dominate the global aircraft landing gear market during the forecast period, driven by the technological progressions shaping up in aircraft landing gear and the regional presence of major aircraft manufacturers, such as The Boeing Company (U.S.) and Bombardier Inc. (Canada). Escalating aircraft orders from these manufacturers by the regional airline companies in the Asia-Pacific and Middle-Eastern regions is further boosting the growth of the region’s market. Growing military upgrade programs, which comprise the augmented procurement of unmanned air vehicles and advanced fighter jets, among others is also expected to propel the North American market during the forecast period.
Key players operating in the global Aircraft Landing Gear market are-
Circor International, Inc.
GKN Aerospace Services Ltd.
Magellan Aerospace Corporation
SPP Canada Aircraft, Inc.
Triumph Group Inc.
United Technologies Corporation
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Aircraft Landing Gear analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors