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Aerospace Landing Gear Market 2021 Global Trends, Share, Growth, Analysis, Opportunities and Forecast To 2026


(MENAFN- iCrowdNewsWire) Aerospace Landing Gear Market 2021 Global Trends, Share, Growth, Analysis, Opportunities and Forecast To 2026
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iCrowdNewswire   Jan 8, 2021  3:36 PM ET

Introduction

Global Aerospace Landing Gear Market

Aerospace landing gear refers to a structure that is installed in the aircraft to provide support to the aircraft while it is on the ground. The incorporation of the aerospace landing gears ensures the safe landing of the aircraft.

The landing gear finds application in aircraft for take-off, landing, and taxiing. The gear also offers mobility to the aircraft on the water as well as on the ground. The traditional aircrafts used skids as their landing gear. But the latest aircraft are incorporated with retractable undercarriages that help in reducing the air resistance during the flights. The global market of aerospace landing gear is anticipated to witness growth during the forecast period.

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Key Players of Global Aerospace Landing Gear Market =>

The major players of the global market are AAR Corporation, GKN Aerospace Services, Eaton Corporation, Safran Landing Systems, CIRCOR Aerospace, and Heroux-Devtek Inc. Other eminent players in the industry are SPP Canada Aircraft, Liebherr Group, UTC Aerospace Systems, Magellan Aerospace Corporation, and Triumph Group.

Market Dynamics

The increase in air traffic is one of the key drivers of the global aerospace landing gear market. The shift in consumer preference towards aircraft travel is another factor that influences market growth. The increase in the procurement of fighter aircraft and unmanned aerial systems further fuels market growth.

The complexity associated with the development and design of the aerospace landing gear affects the market growth negatively. The high costs involved with the use of the lightweight materials further limit the growth of the aerospace landing gear market.

Major Market Segmentation

The global aerospace landing gear market is segmented on platform, position, arrangement, end-user, application, and region.

Based on the platform, the global market is segmented into fixed-wing and rotary-wing. The rotary-wing segment is expected to witness growth during the forecast period owing to the increase in the use of helicopters in military applications.

Based on the position, the aerospace landing gear market is divided into main landing gear and nose or tail landing gear. The main landing gear segment is estimated to dominate the global market in the coming years.

Depending on the arrangement, the market is fragmented into a tricycle, tail wheel, and tandem. The tricycle segment will dominate the global market, owing to its increased use in commercial aircraft.

Based on the end-user, the global market is bifurcated into an original equipment manufacturer (OEM), maintenance, repair, and overhaul (MRO), and aftermarket. The OEM is the leading market segment across the globe.

Depending on the application, the global market of aerospace landing gear is classified into commercial, military aircraft, helicopter, and general aircraft. 

Regional Division

Based on the region, the global market of aerospace landing gear is segmented into Europe, North America, Asia Pacific, South America, and the Middle East and Africa. The North America region is projected to acquire the leading position in the global aerospace landing gear market. The presence of major aircraft manufacturers and the technological advancements in the region account for its leading position. The increase in air traffic in the Asia Pacific region is expected to enhance the market position of the region during the forecast period.

Industry Trends

In June 2019, Heroux-Devtek Inc., acquired Alta Precision Inc., to enhance their offering of the commercial products and meet the demand of world-class landing gears.

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Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

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