The airplane Landing Gear Global Market Report 2023 from The Business Research Company projects that the market for airplane landing gear will increase from $13,348.5 million in 2023 to $19,538.5 million in 2027, with a compound yearly growth rate (CAGR) of 10.4%.
The market for airplane landing gear is projected to increase at a compound annual growth rate (CAGR) of 9.3% to $30,523.2 million in 2032.
The Market Landscape
The global aircraft landing gear market is fragmented, with a large number of players. The top ten competitors in the market made up to 27% of the total market. Safran S.A. was the largest competitor with 6.94% share of the market, followed by others.
Top Aircraft Landing Gear Companies
Key aircraft landing gear manufacturers in the market include:
- Safran, Collins Aerospace
- Sumitomo Precision Products Co. Ltd.
- Triumph Group
- AAR Corporation
- CIRCOR International Inc.
- GKN Aerospace Services Ltd.
- Magellan Aerospace Corporation
- SPP Canada Aircraft Inc.
- Hawker Pacific Aerospace
- Revima Group
- Meggitt PLC
- Parker-Hannifin Corporation
- Crane Co.
- Moog Inc.
Key Business Strategies
Player-adopted strategies in the aircraft landing gear industry include enhancing business operations through the launch of new products, strengthening business activities through strategic mergers, and expanding operational capabilities through strategic acquisitions.
For instance, as strategic acquisition, Héroux-Devtek Inc., the third largest player in the market, acquired Spain-based Compañia Española de Sistemas Aeronáuticos, S.A. (CESA), a subsidiary of Airbus SE, for a purchase price of 137 million euros (approximately $206 million). The acquisition also broadened Héroux-Devtek’s range of goods and services to include hydraulic and actuation systems and enhanced its portfolio with new technologies like electromechanical actuation. This will enable the company to expand its market reach in Europe, get vital information on a number of crucial aircraft programs and take use of its relationships with Airbus and other major clients.
The following strategies have been identified for generating new business opportunities:
- Focus on 3D printed landing gears to explore new applications
- Focus on active landing gears with advanced sensors
- Technological developments to strengthen position in the market
Aircraft Landing Gear Market Research Report
Learn more in-depth about the future opportunities in the aircraft landing gear market through The Business Research Company’s Aircraft Landing Gear Market 2023, which provides strategists, marketers and senior management with the critical information they need to assess the market.
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