Market Size of Aircraft Landing Gear Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 3.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aircraft Landing Gear Systems Market Analysis
The aircraft landing gear systems market is estimated to register a CAGR of over 3.5%, during the forecast period.
The COVID-19 pandemic has affected the aviation market in many ways, and the effect of the pandemic is expected to continue even during the forecast period. In the commercial sector, passenger traffic plummeted drastically in 2020, and it is expected to take 2-3 years to recover completely. The airlines' subsequent losses have resulted in the cancellation or deferral of aircraft orders, thereby reducing the demand. This is expected to affect the market for the related landing gear systems during the forecast period.
The increasing procurement of military aircraft, coupled with the demand for newer generation aircraft might propel the growth of the market for aircraft landing gear systems in the near future. Additionally, various new upcoming aircraft programs shall drive the demand for advanced, lightweight landing gears. Aircraft OEMs and landing gear manufacturers are heavily investing in the R&D of innovative technologies, and this is expected to lead to improved performance of landing gear systems.Advancements in material technology may provide various opportunities for the manufacturers of aircraft landing gear systems in the market.
