Global Commercial Aircraft Landing Gear Market by Aircraft Types and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
Global Commercial Aircraft Landing Gear Market was valued at USD 6.24 Billion in 2016, and is expected to grow at CAGR of 6.5% over forecast period 2020–2026. Increased production of next-generation aircraft, rise in number of commercial airplanes to cater growing air travel demand and rising procurement of fighter aircraft and unmanned aerial systems in military programs.
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An undercarriage of the aircraft, spacecraft that is entitled to sustain the entire weight associated with the aircraft during takeoff and landing, is known as landing gear. To maintain the optimum desired ratio between payload associated with the entire aircraft and flight range of the aircraft, weight reduction is a prominent factor that has enabled the need for technologically advanced landing gears to achieve fuel efficiency. Technological advancements and R&D initiatives associated with the supplementary market, such as steering system, actuation system and brake system, have initiated the market growth. The drivers considered in this report are growth of air traffic and airline industry, and demand for advanced lightweight landing gears.
Market Trends, Drivers, Restraints, and Opportunities:
- Rise in travel and tourism across the globe so people and increase in preference for flights for transportation is fueling the growth of the market.
- High price of airline travel is likely to hamper the growth of the market.
- Moreover, complex structure of these gear is expected to hamper market expansion.
- Increasing in the demand for the lightweight landing gear is projected to encourage manufacturers to adopt new techniques and materials for parts and components of landing gear. Development of new emerging lightweight aircraft gear, especially in Asia Pacific and Latin America, is expected to create opportunities in the market.
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