Global Commercial Aircraft Landing Gear Market to Surpass 34.57 Billion by 2030 Driven by Increased Demand for New Airliners
SkyQuest projects that the global commercial aircraft landing gear market will attain a value of USD34.57 billion by 2030, with a CAGR of 13.90% during the forecast period (2023-2030). The expected expansion of significant airlines' fleet sizes and the rapid growth of the commercial aviation sector are key drivers for increased demand for new airliners, consequently boosting the need for advanced landing gear systems in the global commercial aircraft landing gear market.
Westford,USA, Feb. 15, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the global commercial aircraft landing gear market is experiencing substantial growth driven by key factors. One primary catalyst is the expansion of significant airlines' fleet sizes as they seek to meet the rising demand for air travel. Besides this, the continuous growth of the commercial aviation sector, fueled by increased passenger and cargo transportation needs, has led to a higher demand for new airliners.
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Pages - 157
Tables – 60
Figures – 75
The demand for commercial aircraft landing gear systems is on the rise, driven by prominent advancements in technology and engineering in the global commercial aircraft landing gear market. Aircraft manufacturers are increasingly adopting lightweight materials, incorporating sophisticated electronic technologies, and developing innovative solutions to enhance aircraft performance during landing while minimizing downtime.
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Prominent Players in Global Commercial Aircraft Landing Gear market
Honeywell International Inc.
Liebherr-International AG
UTC Aerospace Systems
Eaton Corporation
Triumph Group Inc.
Héroux-Devtek Inc.
CIRCOR International, Inc.
GKN Aerospace
Heroux-Devtek
AAR Corp.
Messier-Bugatti-Dowty
Parker Hannifin Corporation
Magellan Aerospace
Meggitt PLC
SPP Canada Aircraft, Inc.
Whippany Actuation Systems LLC
BBA Aviation plc
Main Landing Gear Segment to Dominate Market due to Pivotal Role in Supporting Aircraft's Substantial Weight
Main landing gear segment stands as the dominant force in the global commercial aircraft landing gear market. This segment encompasses the landing gear positioned beneath the wings or fuselage of a plane, serving as a fundamental component for the aircraft's overall performance. The main landing gear is pivotal in supporting the aircraft's weight during key operational phases, including landing, taxiing, and takeoff.
By combining key factors, North America holds a dominant position in the global commercial aircraft landing gear market. The region is the headquarters and operational hub for major aircraft manufacturers and has a thriving aviation industry. The presence of industry giants, such as Boeing and Airbus, significantly contributes to North America's prominence in this market.
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Nose Landing Gear Segment to Witness Significant Growth due to Increasing Demand for Commercial Air Travel
Nose landing gear segment is emerging as the fastest-growing sector within the global commercial aircraft landing gear market. This segment encompasses the landing gear positioned at the front of the aircraft, typically found beneath the aircraft's nose section. The nose landing gear plays a dynamic and essential role in supporting the aircraft's weight during key operation phases, including landing, taxiing, and takeoff.
Asia-Pacificis increasingly establishing itself as one of the most rapidly growing regions within the global commercial aircraft landing gear market. This remarkable growth can be attributed to key factors. Chief among them is the robust economic development occurring in countries such as China, India, and Southeast Asian countries.
A comprehensive analysis of the major players in the global commercial aircraft landing gear market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Global Commercial Aircraft Landing Gear market
Boeing and Virgin Galactic unveiled a strategic partnership in 2023. This collaboration is set to focus on the joint development of high-speed commercial travel solutions, particularly exploring supersonic and hypersonic technologies. The partnership signifies a commitment to advancing the future of air travel by enhancing speed, efficiency, and passenger experience.
In 2023, Embraer, a prominent aircraft manufacturer, introduced a groundbreaking innovation by launching the E3, a new generation of commercial aircraft. The E3 stands out for its impressive features, including improved fuel efficiency, reduced emissions, and heightened passenger comfort.
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Key Questions Answered in the Global Commercial Aircraft Landing Gear market Report
What specific growth drivers are projected to impact the market during the forecast period?
List the top companies in the market and explain how they have achieved their positions of influence.
In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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