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...