Aerospace Landing Gear Market is valued at USD 11.2 Billion in 2018 and expected to reach USD 18.3 Billion By 2025 with CAGR of 7.3% over the forecast period.
Aerospace landing gears is an undercarriage of the aircraft which helps in landing and takeoff and also price required support during flight. Wheels are mainly used but skis, skids, floats and the combination of all used depends on the aircraft weather it operated vertically or taxi along the surface. The faster aircrafts have retractable undercarriages which folds during the flight and reduce air resistance or drag. These gears are made up of shock absorbing material mostly carbon fiber is used to provide required as it has to carries tons of weight.
Aerospace Landing Gear Market report is segmented on product type, platform, and application and by regional & country level. Based upon product type, aerospace landing gear market is segmented into Main Landing Gear and Nose/Tail Landing Gear. On the basis of platform, the market is segmented into Fixed Wing and Rotary Wing. Based upon application, aerospace landing gear market is classified into Commercial, Region Jet, Business Jet, Helicopter, and Military Aircraft.
The regions covered in this Aerospace Landing Gear market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Aerospace Landing Gear market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Aerospace Landing Gear market are:
Increasing air tourism and increased use of aircrafts in military is the key factor which helps Aerospace Landing Gear Market to grow.
There is an increase in globalization which has increased the need for better and fast connectivity among countries as compared to conventional methods of travelling which has fuelled the air tourism. The fast delivery of products from one corner of the world to the other corner has also increased the air cargo which in turn driving the growth of aerospace landing gear market. There is an increase in defense and military which has increased the use of aircrafts and helicopters for various purposes. This has also expected to support the growth of aerospace landing gear market in the near future. Furthermore, there is an increase in the research and development activities to further reduce the heavy-weight landing gear with light and strong materials which is expected to create numerous opportunities in the aerospace landing gear market. However, lack of proper safety regulations about landing gear safety is expected to hamper the growth of aerospace landing gear market in the given timeframe.
North America is expected to dominate the Aerospace Landing Gear Market.
North America accounted for largest market share to dominate the market. The presence of developed economies such as U.S., Canada and others with the modern equipment coupled with increased defense expenditure. Moreover, most of the manufacturers belong to the region and increase in air travel in the region is expected to drive the demand for aerospace landing gears. Europe is expected to closely follow the North America in terms of market share, due to the various technological advancement and manufacturers in the region coupled with increased procurement of defense aircraft is expected to create a huge demand for aerospace landing gear market over the forecast period. Asia Pacific is expected to develop rapidly over the period of time due to the presence of developing economies such as India, China and others. There is an increase in the per capita income and GDP of these countries coupled with increased adoption of advanced technology from other countries coupled with increasing expenditure on defense are expected to contribute the growth of aerospace landing gear market in the near future. Latin America, Africa and Middle East are expected to show a moderate growth.
By Regional & Country Analysis:
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