Aircraft Landing Gear Market Statistics: Growth Projections and Industry Outlook

The global Aircraft Landing Gear Market is on a steady growth trajectory, with an estimated valuation of USD 7.1 billion in 2023, projected to reach USD 9.1 billion by 2028, at a compound annual growth rate (CAGR) of 5.0%. Several factors, including rising global air traffic, increased demand for new aircraft, and advancements in the military and Urban Air Mobility (UAM) sectors, contribute to this market expansion.

Key Market Drivers

Increase in Aircraft Production

The aircraft manufacturing sector plays a pivotal role in driving demand for advanced landing gear systems. Aircraft manufacturers such as Boeing and Airbus are increasing production to meet growing global demand. For example, Boeing delivered 528 aircraft in 2023, and Airbus delivered 735 aircraft, exceeding their 2022 deliveries. This trend, combined with the ongoing modernization of aging aircraft fleets, fuels the need for new landing gear systems. IATA predicts a rise in air passengers to 4.7 billion by 2024, creating a heightened demand for additional aircraft and, consequently, for landing gear systems.

Demand from the Military and UAM Sectors

Growth in the military sector, which requires specialized landing gear, also drives market expansion. The Urban Air Mobility (UAM) industry, set to thrive by the 2030s, introduces new opportunities for landing gear manufacturers. Over 200 companies are involved in AAM projects, with a rising need for landing gear solutions for these futuristic vehicles.

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Market Restraints

Regulatory Challenges

Aviation authorities like the FAA and EASA impose stringent safety regulations on landing gear systems. These systems endure immense strain during takeoff and landing, requiring rigorous testing and compliance with numerous safety standards. Companies developing new materials or innovative technologies must meet strict regulatory requirements, which can delay product launches and increase development costs.

Emerging Opportunities

Advanced Air Mobility (AAM)

The AAM sector offers significant opportunities for the Aircraft Landing Gear Industry. The demand for specialized landing gear systems for eVTOLs (electric vertical takeoff and landing vehicles) is expected to rise as AAM becomes more commercially viable. Companies involved in this sector are making strides toward developing innovative landing systems, which could substantially boost market growth over the next decade.

Key Market Segments

OEMs Leading the Market

The Original Equipment Manufacturer (OEM) segment leads the market in 2023, driven by the direct sale of landing gear systems for new aircraft. As the demand for new airplanes rises, OEMs benefit from the expansion of aircraft fleets and fleet modernization. The OEM segment is expected to maintain its dominance throughout the forecast period.

Main Landing Gear Segment

In terms of types, the main landing gear segment is projected to lead the market. The main landing gear bears the majority of an aircraft's weight during landing and taxiing, necessitating robust structures and materials. Aircraft typically require two main landing gear units, making this segment the largest in terms of production volume and market share.

Fixed-Wing Aircraft Segment

The fixed-wing aircraft segment, which includes commercial aviation, military aviation, and business jets, dominates the market. Fixed-wing aircraft are manufactured in significantly larger quantities than rotary-wing or unmanned aerial vehicles, driving higher demand for landing gear systems tailored to these aircraft.

Structural Subsystems

Within the subsystems category, the structural segment leads the market in 2023. Aircraft manufacturers are focusing on lightweight and fuel-efficient designs, incorporating advanced materials such as carbon fiber composites in landing gear structures. These materials offer superior strength-to-weight ratios, allowing for significant weight reduction without compromising structural integrity.

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Challenges Facing the Market

Geopolitical and Social Instability

The global aircraft landing gear market faces challenges stemming from geopolitical conflicts, such as the Russia-Ukraine war, and environmental concerns. These issues create uncertainty, impacting aircraft orders and deliveries. As governments introduce new regulations to ensure aviation safety, companies in the industry must navigate a complex regulatory environment, which may slow market growth.

Regional Market Analysis

North America: The Largest Market

North America is projected to have the largest share of the Aircraft Landing Gear Market in 2023. This region is home to major aircraft manufacturers and a high concentration of airlines, contributing to sustained demand for landing gear systems. The region's emphasis on fleet modernization and the adoption of advanced manufacturing techniques further drive market growth. Investment in R&D for innovative landing gear solutions also strengthens the region's market position.

Key Market Players

Prominent Companies in the Aircraft Landing Gear Market include:

• Collins Aerospace (US)
• Safran (France)
• Héroux-Devtek (Canada)
• Liebherr (Switzerland)
• Triumph Group (US)

These companies employ strategies such as product innovation, partnerships, and expansion into emerging markets to maintain their competitive edge. Additionally, technological advancements like composite materials and automation in landing gear systems are crucial for staying ahead in this dynamic market.

The Aircraft Landing Gear Market is poised for significant growth driven by increasing global air traffic, rising aircraft production, and technological advancements in aviation. Although regulatory challenges and geopolitical uncertainties present hurdles, opportunities in sectors like AAM and military aviation promise a robust future for the market. As manufacturers continue to innovate, focusing on lightweight, durable, and fuel-efficient designs, the demand for advanced landing gear systems will only increase.

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