According to a report
published by Grand View Research, Inc.; the commercial
aircraft landing gear market
is likely to reach a valuation of around USD 9.63 billion by 2025. The
growth in the fleet size of major airlines and the growth in the commercial
aviation sector, which has increased the demand for new airplanes can propel
the market over the forecast period (2014 to 2025). In addition, the
replacement of old landing gear components in current aircraft fleet with
advanced systems is expected to support the market growth.
Factors such as environmental
concerns, modernization of airspace, and new regulatory guidelines regarding
airplane component specification have played a major role in retiring legacy
fleets. The new systems involve low maintenance as compared to their
traditional counterparts. Rise in airline traffic has increased the demand for
retrofitting of landing gear systems or components. Aircraft manufacturers are
making high investments to deploy advanced systems in modern aircraft for
avoiding accidents and service failure, and for increasing longevity.
Technological innovations in
the systems which can respond to different landing situations are also gaining
traction in the market. The controllable fluid devices like Electrorheological
(ER) and Magnetorheological (MR) shock absorbers are being used as novel
landing gear equipment. Additionally, research and development activities for
developing new materials for aerospace applications is also increasing. These
innovative materials are mainly intended for weight reduction, robustness,
longevity, environmental responsibility, and cost economics. Moreover, growing
need for fuel efficient and eco-friendly aircrafts is also expected to replace
the older ones. This is also expected to boost the market in coming years.
However, challenges including high raw material cost, rising cost of energy,
and inflation of the U.S dollar can pose a challenge to market growth to an
extent.
Access Research Report of Commercial Aircraft Landing Gear
Market@: www.grandviewresearch.com/industry-analysis/commercial-aircraft-landing-gear-market
The worldwide commercial
aircraft landing gear market can be segmented on the basis of gear position,
component, aircraft type, arrangement type, and region. Based on gear position,
the market can be classified into main landing gear and nose landing gear. As
per component, the market can be categorized into landing gear steering system,
wheel and brake system, actuation system, and others. On the basis of aircraft
type, the market can be fragmented into narrow-body, wide-body, regional jet,
and others. Based on arrangement type, the market can be divided into tricycle,
tandem, and tailwheel.
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa.
Asia Pacific is likely to show
substantial growth in the coming years. The demand for air travel is growing in
the region due to increasing middle-class families and improving economic
conditions in the region. In 2016, global air travelers increased by 6.3%,
according to International Air Transport Association (IATA). The worldwide
airplane connectivity has significantly increased with the development of more
than 700 new routes. The demand for air travel is increasing rapidly in several
developing countries including China, Malaysia, India, and Thailand. This is
also expected to increase the product demand in the region.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/automotive-and-transportation
Leading companies operating in
the market include Heroux-Devtek Inc.; Honeywell International, Inc.; UTC
Aerospace Systems; CIRCOR Aerospace, Inc.; and Safran Landing Systems. The
market is dynamic in nature and participants are transforming their products
and solutions for providing cost-effective systems to airplane manufacturers.
Major manufacturers are forming long-term contracts with suppliers to achieve
their profit margin and inventory efficiently.
The manufacturers are
increasingly using electronic technologies, lightweight materials, and
cutting-edge solutions to optimize the aircraft performance during landing and
cutting aircraft downtime. For instance, in March 2018, Honeywell International
Inc. declared that Comair has chosen its set of advanced cockpit technologies
for its forthcoming fleet of Boeing 737 MAX aircraft to enhance passenger
comfort and safety and adhere to future flight safety regulations. The new
aircraft will include the Honeywell's IntuVue RDR-4000 3D Weather Radar system
and Integrated Multi-Mode Receiver. These new technologies work in tandem for
assisting pilots to respond to dangerous weather conditions and new runway
approaches.
Access
Press Release of Commercial Aircraft Landing Gear Market@: www.grandviewresearch.com/press-release/global-commercial-aircraft-landing-gear-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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