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Aircraft Landing Gear Market Robust Expansion by Top Key Manufactures, Demand and Supply to 2023
Market Research Future added New Report Named "Global Aircraft Landing Gear Market Research Report- Forecast 2023" to its Database
Landing gear is an aircraft undercarriage system that is designed to support the entire weight of an aircraft, during both the take-off and landing operations. The aircraft landing gear also supports the aircraft body even when it is not flying and enables it to taxi without damage. Moreover, the faster aircraft are equipped with retractable undercarriage systems, which allow reduction in air drag, by folding away during flight operation. Of late, the aircraft are equipped with technologically advanced landing gears in order to achieve optimum fuel efficiency. In addition, the directional control of the aircraft on the ground is provided by the landing gear, using a wheel steering system.
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In the recent years, there has been a significant growth in the demand for new commercial aircraft, which have a substantial impact on the market. For instance, in 2017, in one of the biggest deals in the history of commercial aviation, Airbus signed a USD 50 billion contract with Indigo Partners (US) to deliver 430 aircraft. Similarly, in 2017, Airbus registered net orders for 1,109 aircraft and delivered 718 aircraft to 85 customers (airline companies) across the world. Boeing registered net orders for 912 aircraft and delivered 763 in the same year. Furthermore, new airlines are being established in almost every region to tap into the considerable passenger base. In 2017, more than 70 new airlines were launched around the world. The increase number of new aircraft fuels the demand for landing gear systems and therefore, drives the market growth. This is one of the most critical aircraft systems as the landing gear supports the complete aircraft load during landing, take-off, and ground operations.
The global commercial aircraft landing gear market has been segmented by type, aircraft type, platform, and region. Based on type, the commercial aircraft landing gear market is divided into main landing gear and nose landing gear. In 2017, the main landing gear segment accounted for the largest market share and it is expected that the nose landing gear segment would witness the fastest market growth, during the forecast period. The main landing gear is made of locking actuators, retraction/extension actuators, locking links, upper side stay, and lower side stay. During flight landing, the majority of stress is applied on the main landing gear, as it first comes in contact with the ground. Similarly, the nose landing gear is made of elements such as steering actuator, telescopic nose leg, pintle pin, retraction actuator, and steering mechanism. Based on aircraft type, the commercial aircraft landing gear market is divided into fixed-wing and rotary-wing aircraft. In 2017, the fixed-wing aircraft segment accounted for the largest market share and it is expected that the rotary-wing aircraft segment would witness the fastest market growth, during the forecast period. Based on platform, the commercial aircraft landing gear market is divided into commercial aviation, military aviation, and business & general aviation. In 2017, the commercial aviation segment accounted for the largest market share and it is expected that the military aviation segment would register the fastest market growth, during the forecast period.
The global commercial aircraft landing gear market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America had the largest share in 2017, owing to the presence of the major companies such as United Technologies Corporation, Magellan Aerospace, and Triumph Group, among others. Moreover, the presence of the manufacturing base of largest commercial OEM, Boeing, along with other OEMs such as Bombardier and Embraer, results in the large development of the aircraft landing gear systems. In addition, there have been several developments in the region, recently, such as the following:
• In May 2018, Héroux-Devtek signed a landing gear remanufacturing contract with AAR Corporation in Support of the US Air Force
• In August 2017, AAR Corporation signed a contract with the US Air Force to provide MRO services to its aircraft fleet
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As a result, North America generates the largest demand for commercial aircraft landing gear systems.
Likewise, Asia-Pacific is expected to be the fastest-growing market for commercial aircraft landing gear systems, during the forecast period. This is majorly due to the significantly rising number of aircraft in countries like China, India, and South Korea. Therefore, the global commercial aircraft landing gear market is estimated to register a CAGR of over 10% during the forecast period of 2018 to 2023.
The key players in global commercial aircraft landing gear market are CIRCOR AEROSPACE (US), Heroux-devtek (Canada), Liebherr Group (Switzerland), Safran (France), United Technologies Corporation (US), AAR (US), Honeywell International (US), Magellan Aerospace Corporation (Canada), GKN Aerospace (UK), and Triumph Group (US).
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3 Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
4 Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat Of New Entrants
4.1.2. Bargaining Power Of Buyers
4.1.3. Threat Of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power Of Suppliers
4.2. Supply Chain Analysis
5 Market Dynamics
5.2. Market Drivers
5.3. Market Restraints
5.4. Market Opportunities
5.5. Technological Trends
5.6. Patent Analysis
5.7. Regulatory Landscape
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