The commercial aircraft landing gear market is anticipated to register a CAGR of over 3.5% during the forecast period.
- An increase in the number of orders for new aircraft is primarily driving the market.
- Growing demand for lightweight landing gear is forcing manufacturers to adopt new techniques and materials for the parts and components of the landing gear.
- New aircraft programs in the Asia-Pacific region will offer new opportunities for landing gear manufacturers to expand in the region.
Key Market Trends
The Narrow-body Aircraft Segment is Expected to Dominate the Commercial Aircraft Landing Gear Market
In the past decade, low-cost carriers increased their market presence. They currently hold a share of over 30% in the commercial aviation market. LCC operators prefer single-aisle aircraft, as they operate on shorter routes and have a low-profit margin. With the growing focus on connecting smaller airports to enhance a country’s air network, airlines are procuring narrow-body aircraft and regional aircraft that are efficient and economic on short haul flights. Among the 1,606 aircraft delivered by Airbus and Boeing, together, in 2018, the majority of the aircraft were narrow-body aircraft. Nose landing gear configuration is similar for a narrow-body and a wide-body aircraft. However, the main landing gear configuration differs. For instance, an A320 family of aircraft has 6 wheels in [1*2]+[2*2] configuration, whereas A380 has 22 wheels in [1*2]+[2*4+2*6] configuration.
North America and Europe held a Major Share in the Commercial Aircraft Landing Gear Market in 2019
Boeing and Airbus are the two major commercial aircraft OEMs, and they are based in the United States and France, respectively. The US aviation market is a matured market, and it currently has the largest aircraft fleet. The majority of the aircraft assembly is carried out in the United States and France. However, in terms of new aircraft demand, the Asia-Pacific market seems to be lucrative. As China newly introduced its C919 aircraft in the commercial market, it received over 800 orders. A huge demand for landing gear system is anticipated to be generated from this region in the coming years.
Landing gear system is a vital part of the aircraft, and currently, it has no substitutes. With the growing number of orders for new aircraft, a simultaneous demand is likely to be generated for the landing gear system as well. The market is highly competitive, and THE major players are significantly investing in R&D to develop lightweight landing gear systems, which can further reduce the overall weight of the aircraft and make it more fuel-efficient. Héroux-Devtek Inc., Safran SA, Honeywell International Inc., and Triumph Group are the major players in the commercial aircraft landing gear market.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Landing Gear Type
22.214.171.124 Main Landing Gear
126.96.36.199 Nose Landing Gear
5.1.2 Aircraft Type
188.8.131.52 Narrow-body Aircraft
184.108.40.206 Wide-body Aircraft
220.127.116.11 Regional Aircraft
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 Latin America
184.108.40.206 Rest of Latin America
5.3.5 Middle-East and Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 H¬éroux-Devtek Inc.
6.2.2 CIRCOR International Inc.
6.2.3 Magellan Aerospace Corp.
6.2.4 Triumph Group Inc.
6.2.5 Safran SA
6.2.6 United Technologies Corporation (Collins Aerospace)
6.2.7 Sumitomo Precision Products Co. Ltd
6.2.8 AAR Corp.
6.2.9 Liebherr-International Deutschland GmbH
6.2.10 Honeywell International Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.