Aircraft Landing Gear Systems Market Overview
The aircraft landing gear systems market is estimated to register a CAGR of over 3.5%, during the forecast period. The increasing procurement of military aircraft, coupled with the demand for newer generation aircraft might propel the growth of the market for aircraft landing gear systems in the near future. Additionally, various new upcoming aircraft programs shall drive the demand for advanced, lightweight landing gears. Aircraft OEMs and landing gear manufacturers are heavily investing in the R&D of innovative technologies, and this is expected to lead to improved performance of landing gear systems. Advancements in material technology may provide various opportunities for the manufacturers of aircraft landing gear systems in the market.
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Aircraft Landing Gear Systems Market – Geographical Overview
The Asia-Pacific is generating the highest revenue in the aircraft landing gear systems market
Asia-Pacific is one of the most traveled air routes in the world. With a high passenger traffic growth, several airlines in the Asia-Pacific region ordered new commercial aircraft in recent years. A major portion of commercial aircraft deliveries is expected to be in Asia-Pacific during the forecast period. Correspondingly, the demand for new commercial aircraft landing gear is also expected to be highest in Asia-Pacific in the coming years. Even in the military sector, there is a growing demand for new military aircraft generated from the Asia-Pacific region, as major countries look to modernize their fleet and increase their capability. China is leading the recovery of global commercial aviation due to great domestic demand, helping the airlines witness financial recovery.
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Key Highlights of the Aircraft Landing Gear Systems Market
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List of Key Players in the Aircraft Landing Gear Systems Market
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Mordor Intelligence has segmented the global aircraft landing gear systems market on the basis of aircraft type, gear position, and geography:
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