Aerospace Landing Gear Market Analysis, Trends and Forecast, 2017-2024
More Information @ http://bit.ly/2EgarfR Replacement of landing gear components of aging aircraft fleet by advanced products will further positively impact the industry growth.
More Information @ http://bit.ly/2EgarfR
Replacement of landing gear components of aging aircraft fleet by advanced products will further positively impact the industry growth.
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<strong>Aerospace</strong> <strong>L<strong>and</strong>ing</strong> <strong>Gear</strong> <strong>Market</strong> trends research<br />
<strong>and</strong> projections for <strong>2017</strong>-<strong>2024</strong>: Global <strong>Market</strong><br />
Insights, Inc.<br />
<strong>Aerospace</strong> <strong>L<strong>and</strong>ing</strong> <strong>Gear</strong> <strong>Market</strong> in North America is anticipated to exhibit maximum<br />
revenue share owing to regular innovations in l<strong>and</strong>ing gears coupled with presence<br />
of major aircraft players such as Bombardier, Boeing, etc. Increasing military<br />
modernization programs across the region have resulted in high procurement of<br />
aircrafts such as UAVs <strong>and</strong> fighter jets, further supporting the region’s dominance.<br />
Increasing aircraft deliveries from regional airliners, especially in MEA <strong>and</strong> Asia<br />
Pacific coupled with rising procurement of UAVs <strong>and</strong> fighter aircrafts for military<br />
programs will primarily drive the industry growth. Air passenger traffic has witnessed<br />
a continuous rise across the globe over the past years. This has led to high<br />
profitability of airline operators, resulting in high production of aircrafts, escalating the<br />
revenue generation for aerospace l<strong>and</strong>ing gear market size over the forecast<br />
timeframe.<br />
<strong>Aerospace</strong> modernization, stringent regulations regarding specifications of aircraft<br />
components, <strong>and</strong> environmental concerns have contributed significantly towards the<br />
retirement of old aircraft fleet. Aircraft manufacturers are investing heavily to adopt<br />
efficient <strong>and</strong> modernized aircraft systems for increasing the overall longevity <strong>and</strong><br />
avoiding accidents & service failure.<br />
Manufacturers are focusing on usage of lightweight materials for production of these<br />
l<strong>and</strong>ing gears. Increasing dem<strong>and</strong> for lightweight l<strong>and</strong>ing gears is attributed to the<br />
benefits such as reduction of overall aircraft weight. Emergence of electric brakes is<br />
another trend that has gained prominence in the aerospace l<strong>and</strong>ing gear market.<br />
These brakes assist in easy l<strong>and</strong>ing <strong>and</strong> absorbing shocks.<br />
Aircraft l<strong>and</strong>ing gears have high life-span <strong>and</strong> possess lesser probability to get<br />
damaged. This leads to reduction of overall replacement needs of the product,<br />
hampering the industry growth over the coming years. Technical issues related to<br />
new technology, long manufacturing processes, <strong>and</strong> stringent design constraints are<br />
anticipated to pose a challenge before industry participants.<br />
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Rotary wing is projected to grow substantially from <strong>2017</strong> to <strong>2024</strong>. The high growth<br />
rate can be attributed to rising dem<strong>and</strong> for helicopters, especially from military<br />
segment due to increasing usage for emergency medical services, critical missions,<br />
<strong>and</strong> transportation.<br />
By product, aerospace l<strong>and</strong>ing gear market is segmented into main <strong>and</strong> nose l<strong>and</strong>ing<br />
gears. Main l<strong>and</strong>ing gear is expected to capture maximum revenue share over the<br />
next eight years owing to their prominence in the overall support for aircraft take-offs<br />
<strong>and</strong> l<strong>and</strong>ings. Higher strength than its counterpart is another factor supporting the<br />
segment’s dominance.<br />
<strong>Aerospace</strong> l<strong>and</strong>ing gear market can be segmented based on applications into<br />
business, commercial, <strong>and</strong> military. Commercial sector is likely to capture significant<br />
industry share over the forecast timeframe owing to high deployment of l<strong>and</strong>ing<br />
gears in narrow body, wide body, <strong>and</strong> regional aircrafts. Rising dem<strong>and</strong> of new<br />
aircrafts, especially from regional airline operators in emerging countries will further<br />
support the industry dominance.<br />
Liebherr-International AG, AAR Corp., Safran S.A., Circor International, Inc.,<br />
Magellan <strong>Aerospace</strong> Corporation, <strong>and</strong> Héroux-Devtek Inc. are among the noticeable<br />
participants in aerospace l<strong>and</strong>ing gear market. Other prominent players include<br />
United Technologies Corporation, Triumph Group Inc., SPP Canada Aircraft, Inc.,<br />
Whippany Actuation Systems, <strong>and</strong> GKN <strong>Aerospace</strong> Services Ltd. Competitors are<br />
focusing on product transformations to offer cost-effective solutions for aircraft<br />
manufacturers.<br />
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