North America aircraft landing gear market is expected to grow from US$ 5.25 Bn in 2018 to US$ 8.56 Bn by the year 2027. This represents a CAGR of 5.7% from the year 2018 to 2027
North America Aircraft Landing Gear Market The aviation industry is quite dynamic as it adapts quickly with the ever-changing market forces and customer expectations. The macroeconomic trends across North America shape the overall growth outlook of the regionโs aviation industry. North America Aircraft Landing Gear Market The three major macro factors that are affecting the growth of the aviation industry include rising demand for air travel, regulatory and infrastructure developments, and technological advancements in aircraft. As per Boeingโs Aviation industry outlook, in the past five years, the year on year traffic growth as measured in revenue passenger kilometers is 6.7% on an average. The low airfares, rising disposable income, and growing travel & tourism market are some of the factors responsible for this growth. North America Aircraft Landing Gear Market The US aviation sector is the most prominent aviation industry in North America. The industry is continuously witnessing a surge in demand for air travel, which is leading the commercial airlines to increase their fleet, which is allowing aircraft manufacturers such as Boeing, Textron, and Gulfstream, among others, to grow their production lines. North America Aircraft Landing Gear Market An increase in aircraft production is catalyzing the demand for landing gear in North America, which is thereby bolstering the growth of aircraft landing gear market.
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North America Aircraft Landing Gear Market Currently, the US is dominating the aircraft landing gear market in terms of installation, which in turn boost the demand for aircraft landing gear market. The economy of the US largely depends upon the performance of the aerospace manufacturing industry in the country. The US aerospace industry is the largest in the world, and aerospace manufacturers in the country are considered to be highly competitive in the international market. North America Aircraft Landing Gear Market In the year 2018, the contribution of the aerospace industry by the export sales to the US economy amounted to US$ 151 Bn. The positive trade balance of US$ 88 Bn for fiscal 2018 was the largest for any manufacturing industry in the US. The figure given below highlights the revenue share of Mexico in the North American aircraft landing gear market in the forecast period:
North America Aircraft Landing Gear Strategic Insights
North America Aircraft Landing Gear Market Strategic insights for the North America Aircraft Landing Gear provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. North America Aircraft Landing Gear Market A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
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AAR Corp.
Circor International, Inc.
Collins Aerospace
GKN Aerospace Services Limited
Hรฉroux-Devtek Inc.
Liebherr Group
Magellan Aerospace Corporation
SAFRAN S.A.
Sumitomo Precision Products Co., Ltd.
Triumph Group Inc.
North America Aircraft Landing Gear Market: An In-depth Analysis
The North American aircraft landing gear market has seen steady growth, driven by several factors, including increasing air travel demand, advancements in aviation technology, and the need for regular upgrades and maintenance. Aircraft landing gear is a critical component of any airplane, ensuring its safe landing and takeoff. This market includes both the supply of new landing gears for aircraft manufacturers and the replacement of existing ones during regular maintenance cycles.
Aircraft Landing Gear: Definition and Functionality
Aircraft landing gear is a vital system that supports an aircraft when it is on the ground, enabling takeoffs, landings, and taxiing. Landing gear typically consists of wheels, tires, struts, actuators, brakes, and other components that work together to provide stability and safety during ground operations. It must be designed to withstand the high stresses and forces exerted during landing and takeoff, while also providing smooth operation during taxiing.
The landing gear system can be classified into two main categories:
- Main Landing Gear (MLG): This is typically composed of the larger wheels and is responsible for supporting the weight of the aircraft during landings and takeoffs. It is usually positioned under the wings or fuselage of the aircraft.
- Nose Landing Gear (NLG): This gear is located at the front of the aircraft and provides support during ground operations, including taxiing, takeoff, and landing. It also helps maintain the aircraft’s stability and balance.
Growth of Aircraft Production and Its Link to Aircraft Landing Gear Demand
The increasing production of aircraft has a direct and positive effect on the demand for aircraft landing gear. As commercial airlines expand their fleets to meet the growing demand for air travel, the manufacturers of aircraft, including the likes of Boeing and Airbus, must also increase production to meet these needs. The demand for aircraft is expected to remain strong as airlines adopt newer and more fuel-efficient models to cope with rising operational costs and sustainability goals.
Additionally, with increasing air traffic and the expansion of low-cost carriers, the demand for newer, more efficient aircraft is expected to continue to rise. Aircraft manufacturers are ramping up their production lines, resulting in a substantial need for landing gear systems. New aircraft models generally incorporate cutting-edge landing gear technologies, designed to reduce weight, increase performance, and enhance safety. As a result, the landing gear market must keep pace with the evolving demands of the aircraft industry, ensuring that landing gear systems meet the specific requirements of modern aircraft.
Furthermore, the rising demand for smaller aircraft and regional jets, along with the growing popularity of business aviation, creates new opportunities for landing gear manufacturers. As these aircraft enter service, there is a corresponding need for smaller, more efficient landing gear systems that are tailored to the unique operational characteristics of these aircraft. The expanding fleet of aircraft, from commercial airliners to business jets, is thus a key driver of the growth of the aircraft landing gear market.
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