Aircraft Landing Gear Systems Market to Grow by USD 3.63 Billion during 2021-2025|Technavio
NEW YORK, March 24, 2021 /PRNewswire/ --
The global aircraft landing gear systems market is expected to grow by USD 3.63 billion during 2021-2025, as per Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 9%.
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The aircraft landing gear systems market is driven by increasing M&A activities. In addition, the creation of new air routes to tap market potential is anticipated to boost the growth of the aircraft landing gear systems market.
The market is currently fragmented with the presence of various small players operating at regional levels making it challenging for large vendors to penetrate the regional markets. As a result, vendors are opting for M&A activities as a business strategy to strengthen their businesses. M&A activities are helping vendors in increasing their geographic reach. Such activities increase the production results with a decrease in the variable cost of vendors. As a result, vendors are developing advanced products, which can help them overcome the costs associated with production and distribution while increasing their profits. Hence, increasing M&A activities are expected to contribute to the growth of the global aircraft landing gear systems market during the forecast period.
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Major Five Aircraft Landing Gear Systems Companies:
CIRCOR International Inc.
CIRCOR International Inc. operates business through Energy, Aerospace & Defense, and Industrial. The company is a designer and manufacturer of actuation and landing gear systems and related components. In the landing gear business, under the Loud Engineering and Manufacturing brand, the company has worked with all the major airframers supporting both fixed-wing and rotary-wing aircraft.
Eaton Corporation Plc
Eaton Corporation Plc operates business through Electrical Products, Electrical Systems and Services, Hydraulics, Aerospace, Vehicle, and eMobility. The company provides landing gear systems to various aircraft manufacturers and they also provide the complete landing gear actuation sub-system including actuators, locks, control valves, sensors, and control electronics.
Heroux-Devtek Inc.
Heroux-Devtek Inc. operates business through LANDING GEAR, FILTERS, and ELECTRONIC ENCLOSURES. The company is a leading provider of landing gear systems and components to a diverse array of aircraft manufacturers.
Honeywell International Inc.
Honeywell International Inc. operates business through Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company provides aircraft landing gear systems through its Aerospace business segment.
Magellan Aerospace Corp.
Magellan Aerospace Corp. operates business through AEROENGINES, AEROSTRUCTURES, ROCKETS, SPACE, and SAND CASTINGS. The company provides aircraft landing gear systems assemblies to aircraft manufacturers.
Aircraft Landing Gear Systems Market Application Outlook (Revenue, USD billion, 2020-2025)
- Commercial aircraft - size and forecast 2020-2025
- Military aircraft - size and forecast 2020-2025
- Business jet - size and forecast 2020-2025
Aircraft Landing Gear Systems Market Geography Outlook (Revenue, USD billion, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- South America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
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