North America Aircraft Landing Gear Market to 2027 - Regional Analysis and Forecasts by Aircraft Type; Gear Arrangement; Type; End-User
NEW YORK, Dec. 26, 2019 /PRNewswire/ -- North America aircraft landing gear market is expected to grow from US$ 5.25 Bn in 2018 to US$ 8.56 Bn by the year 2027. This represents a CAGR of 5.7% from the year 2018 to 2027. The strong defense sector and growing aviation industry in the region is expected to drive the growth of aircraft landing gear market. The number of airports across is rising at an impressive rate due to favorable government policies to push infrastructure development and bring market liberalization in the aviation sector. The increasing demand of low cost travel and rising need to connect remote locations with air travel is driving the demand of low cost carriers (LCCs) and ultra-low cost carriers (ULCCs). In the aviation industry, low-cost carrier model is flourishing at an impressive rate. With the entry of new entrants into aviation market, the competition has increased multifold and fares have dropped drastically on some routes. This rising demand of aircrafts by LCCs is projected to offer substantial growth opportunities for the market players operating in the global aircraft landing gear market.
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The demand for technologically advanced landing gear systems that could reduce weight, minimize volume, increase performance, and decrease cost, is expected to fuel the future growth of global aircraft landing gear market.High strength composite materials, precise load estimation techniques, and active damping systems to reduce taxi loads are some of the areas which will lead the technological advancements in the aircraft landing gears.
In terms of materials, carbon composite materials are expected to be widely used in future landing gears.The usage of electric actuation systems over hydraulic actuation systems is also gaining momentum.
The weight competitiveness of electric actuation systems is one of the major factor behind their growth.In the coming future, CAX technologies such as CAD/CAM/CAE and Knowledge Based Engineering (KBE) are also anticipated to be used more effectively in the aircraft landing gear systems.
Also, the aircraft landing gear market is highly competitive due to the presence of well-established player.
The North America aircraft landing gear market by type is segmented into the main and nose.The nose landing gears are typically on the fixed wing aircrafts having the tri-cycle gear arrangement.
The nose gear in the fixed wing aircraft is either retracted rearward or forward into the aircraft fuselage.A typical nose gear consists of single shock strut with either on or two wheels attached.
For majority of the airplanes, the nose gears comprise of steering mechanism that is used for taxiing the aircraft on land.The steering mechanism also functions as a shimmy damper for preventing any kind of oscillation or shimmy of the nose wheel.
Main holds a significant share of aircraft landing gear market, however, the nose type is expected to grow at a significant CAGR. However, the airplane segment hold significant share of aircraft landing gear market and helicopter aircraft is expected to grow at a high CAGR.
The overall aircraft landing gear market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America aircraft landing gear market.
It also provides the overview and forecast for the North America aircraft landing gear market based on all the segmentation provided with respect to the North America region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the North America aircraft landing gear industry. Some of the players present in aircraft landing gear market are AAR Corp., Circor International, Inc., Collins Aerospace, GKN Aerospace Services Limited, Héroux-Devtek Inc., Liebherr Group, Magellan Aerospace Corporation, SAFRAN S.A., Sumitomo, Precision Products Co., Ltd., and Triumph Group Inc.
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