Aircraft Landing Gear Market

Aircraft Landing Gear Market Outlook 2024 to 2034

The aircraft landing gear market is valued at USD 8.00 billion in 2024 and is projected to reach USD 15.00 billion by 2034, exhibiting a CAGR of 6.5% over the forecast period.

Key Market Drivers:

The aircraft landing gear market generated an estimated revenue of USD 5.4 billion in 2019. In five years, the market grew at a pace of 8.17% and added revenue of USD 2.60 billion. Several reasons can be attributed to this growth:

• The increasing global air travel demand necessitates expanding and modernizing aircraft fleets, leading to a surge in replacements and upgrades of modern landing gear technologies.
• The use of lightweight materials, advanced sensors, and improved designs are driving the growth of the landing gear market.
• With the aging global fleet of aircraft, frequent maintenance and eventual landing gear replacements have become significant contributors to market growth.
• Regulatory mandates for aviation safety standards and the need for compliance with innovative and compliant landing gear systems are prompting airlines to invest in upgrading their landing gear.
• The increased defense spending has fuelled demand for advanced landing gear systems in both military and dual-use aircraft.
• The proliferation of low-cost carriers and regional airlines has contributed to the demand for new aircraft, boosting the landing gear market.
• The development of more efficient landing gear systems is a response to the growing emphasis on fuel efficiency and environmentally sustainable aviation solutions.
• Airlines also opt for retrofitting existing fleets with improved landing gear to extend the lifespan of aircraft and comply with evolving performance standards.

Attributes	Key Statistics
Expected Base Year Value (2024)	USD 8 billion
Anticipated Forecast Value (2034)	USD 15 billion
Estimated Growth (2024 to 2034)	6.5% CAGR

Consumption Analysis of the Aircraft Landing Gear Market

• The market is experiencing increasing demand from commercial airlines as they require landing gear for their fleets of passenger and cargo aircraft.
• The aircraft landing gear is also widespread among armed forces. These entities employ aircraft landing gear to procure landing gear for military aircraft, including fighters, transport planes, and helicopters.
• There is a rising adoption of aircraft landing gear by companies that design and produce aircraft to integrate them into their new aircraft during the manufacturing process.
• The use of aircraft landing gear is also growing among companies that lease aircraft to airlines that are involved in purchasing landing gear as part of their aircraft maintenance and asset management activities.
• The demand for aircraft landing gear is also touching the skies in entities engaged in aerospace research and development. These entities acquire landing gear for testing and prototyping purposes.
• The growing adoption of aircraft landing gear is also observed in government organizations responsible for national aviation and defense to procure landing gear for military and governmental aircraft.

Restraining Factors Adversely Affecting the Market

The aircraft landing gear market is anticipated to surpass a valuation of USD 15 billion by the year 2034, with a growth rate of 6.5%. While the market is expected to experience remarkable growth, several restraining factors could adversely affect its development:

• The substantial upfront investment required for the procurement and installation of new landing gear systems poses a financial challenge for airlines and aircraft operators with budget constraints
• Extended periods of aircraft grounding, either due to economic downturns, global crises, or unforeseen events, also impact the demand for new landing gear systems and disrupt market growth.
• Rapid advancements in aviation technology may lead to shorter product lifecycles for landing gear systems. This keeps smaller companies away from the market as they cannot afford to keep investing in research and development.
• Economic downturns and uncertainties in global financial markets can lead to reduced air travel demand, impacting airlines' ability and willingness to invest in new landing gear.

Category-wise Insights

Main Landing Gear for Aircrafts to Dominate the Global Aviation Sector

Depending on the type, the aircraft landing gear market is bifurcated into main and nose landing gear. The former is anticipated to grow at a remarkable rate of 6.30% CAGR.

• The demand for main landing gear in the aviation sector is touching the skies as they play a vital role in supporting the majority of an aircraft's weight during touchdown and ground operations.
• Their significance is also increasing as the performance of the main landing gear directly impacts the safety, efficiency, and operational capabilities of various types of aircraft.
• Ongoing technological advancements in materials, design, and manufacturing processes contribute to the improved performance and efficiency of main landing gear systems, augmenting the overall adoption.

Attributes	Details
Type	Main Landing Gear
CAGR	6.3%

Actuation Systems Take the Lion’s Share in the Global Market

The aircraft landing gear market is categorized by sub-system into actuation, steering, and brake systems. The actuation systems segment dominates the market and is anticipated to grow at a remarkable rate of 6.10%.

• Actuation systems are in great demand as they play a crucial role in facilitating the controlled movement and positioning of landing gear components, contributing to the safety and precision of aircraft operations during take-off and landing.
• Factors such as technological advancements, increased air travel, and the continual focus on safety standards also contribute to the increased adoption of actuation systems in the sector.
• Actuation systems also enjoy widespread preference among aviation companies due to factors such as technological advancements, increased air travel, and the continual focus on safety standards.

Attributes	Details
Sub-system	Actuation System
CAGR	6.10%

Country-wise Insights

The section provides an analysis of the aircraft landing gear market by country, including Japan, China, the United States, the United Kingdom, and South Korea. The table presents the CAGR for each country, indicating the expected growth of the market in that country through 2034.

Countries	CAGR
South Korea	8.50%
Japan	7.90%
The United Kingdom	7.70%
China	6.90%
The United States	6.80%

Demand for Aircraft Landing Gear in South Korea

South Korea is one of the leading countries in this market. The South Korea aircraft landing gear market is anticipated to retain its dominance by progressing at an annual growth rate of 8.50% till 2034.

• Government initiatives and investments in the aerospace sector, coupled with support for technological advancements, are the biggest drivers for the market.
• The demand for aircraft, especially in the context of regional and international connectivity, drives the growth of the market.

Sales of Aircraft Landing Gear in Japan

Japan is another Asian country that leads the aircraft landing gear market. The Japan aircraft landing gear market is anticipated to retain its dominance by progressing at an annual growth rate of 7.90% till 2034.

• With an emphasis on improving regional connectivity, the Japanese aviation sector in the last few years has been expanding exponentially. This has pushed the demand for aircraft equipment, such as aircraft landing gears, to support efficient operations in domestic and international routes.
• Besides this, Japan's commitment to environmental sustainability in aviation, including the development of fuel-efficient aircraft, encourages the adoption of advanced landing gear technologies.

Aircraft Landing Gear Market in the United Kingdom

The United Kingdom dominates the market of aircraft landing gear in Europe. The United Kingdom aircraft landing gear market is anticipated to exhibit an annual growth rate of 7.70% till 2034.

• The presence of aerospace clusters and innovation hubs in the country, such as the Farnborough Aerospace Consortium, pushes collaboration and knowledge exchange among key players. This is driving advancements in landing gear technologies, thus increasing the adoption.
• The United Kingdom's strong focus on defense aviation, coupled with a commitment to modernize military aircraft fleets, generates demand for high-performance landing gear systems in both military and dual-use applications.

Aircraft Landing Gear Industry in China

China is one of the leading countries in Asia for aircraft landing gear, which is anticipated to register a CAGR of 6.90% through 2034.

• Over the past few years, the Chinese aviation sector has experienced a tremendous surge, mainly due to the rising middle class and increased connectivity. This has resulted in an increased demand for new aircraft and landing gear systems in the country.
• Apart from this, China is also emerging as a key manufacturing hub for aerospace components, including landing gear. This positions China as one of the leading countries in the international marketplace.

Aircraft Landing Gear Market in the United States

Over the next ten years, the United States' demand for aircraft landing gear is projected to rise at a 6.80% CAGR.

• The United States is blessed with numerous innovative aviation companies, such as Boeing, Lockheed Martin Corporation, Airbus, etc. This presence generates significant demand for landing gears for aircraft production and modernization projects.
• Besides this, the United States government spends a substantial amount of its GDP on the defense sector. This spending fuels the demand for advanced landing gear systems for military aircraft, contributing to overall market growth.

Competitive Landscape

The market for aircraft landing gear is filled with international and domestic companies and is highly fragmented. Safran Landing Systems, Collins Aerospace, Liebherr-Aerospace, Heroux-Devtek, etc., are some of the prominent companies in the aircraft landing gear market. These companies are investing billions of dollars in research and development activities to curate lightweight materials, advanced sensors, and smart technologies to improve performance, fuel efficiency, and safety.

Recent Developments:

• In October 2023, Supernal announced a collaboration with Mecaer Aviation Group and Hyundai WIA to develop landing gear for its SA-1 eVTOL aircraft, with plans for a technology demonstrator by late 2024. The partnership capitalizes on Mecaer's expertise in landing gear design and Hyundai WIA's precision manufacturing capabilities.
• In June 2023, United Kingdom-based TISICS unveiled Light Land, a sustainable and high-strength landing gear for commercial aircraft, comprising the world's largest fiber-reinforced metal composite component. The innovation, developed with £2.5 million R&D funding, promises improved fuel efficiency and aligns with the aerospace industry's net-zero emissions goal by 2050.
• In August 2023, WAAM3D joined the I-Break project, a £22.5m collaboration led by Airbus and 15 partners. The initiative aimed to advance lower-emission aerospace technology by innovating landing gear components, utilizing additive manufacturing and composite techniques to accelerate production and reduce the industrial CO2 footprint by 30%.

Key Companies in the Market

• Safran Landing Systems
• Collins Aerospace (Raytheon Technologies)
• Liebherr-Aerospace
• Heroux-Devtek
• Triumph Group
• UTC Aerospace Systems (now part of Raytheon Technologies)
• Meggitt PLC
• Eaton Corporation
• CIRCOR Aerospace
• Parker Hannifin Corporation
• Moog Inc.
• AAR Corp.
• Shimadzu Precision Instruments, Inc.
• UTC Landing Systems (a part of Raytheon Technologies)
• GKN Aerospace
• Honeywell Aerospace
• Crane Aerospace & Electronics
• Woodward, Inc.
• Crane Co.
• SKF Group

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. Main Landing Gear
  • 5.2. Nose Landing Gear
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sub-System
  • 6.1. Actuation System
  • 6.2. Steering System
  • 6.3. Brake System
  • 6.4. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Aircraft Type
  • 7.1. Fixed Wing
  • 7.2. Rotary Wing
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
  • 8.1. OEM
  • 8.2. Aftermarket
• 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 9.1. North America
  • 9.2. Latin America
  • 9.3. Western Europe
  • 9.4. Eastern Europe
  • 9.5. South Asia and Pacific
  • 9.6. East Asia
  • 9.7. Middle East and Africa
• 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 17. Key Countries Market Analysis
• 18. Market Structure Analysis
• 19. Competition Analysis
  • 19.1. Circor International
  • 19.2. Eaton Corporation
  • 19.3. GKN Aerospace
  • 19.4. Hawker Pacific Aerospace
  • 19.5. Heroux-Devtek, Inc
  • 19.6. Honeywell International
  • 19.7. Liebherr Group
  • 19.8. Magellan Aerospace
  • 19.9. Safran
  • 19.10. Triumph Group
• 20. Assumptions & Acronyms Used
• 21. Research Methodology