Market Size of Commercial Aircraft Landing Gear MRO Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.90 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Commercial Aircraft Landing Gear MRO Market Analysis
The commercial aircraft landing gear MRO market is projected to register a CAGR of 5.9% during the forecast period.
- The COVID-19 pandemic had a significant impact on all sectors, including the aviation industry. Due to restrictions on air travel, the overall passenger traffic declined by 60% to 65%. However, as the situation normalized in the fiscal year 2021-2022, the number of air passengers increased, leading to the unfreezing of standby orders of commercial aircraft and an increase in orders from airline companies.
- As of September 2022, the total traffic measured in revenue passenger kilometers (RPKs) rose by 57.0% compared to September 2021. Global traffic is now at 73.8% of the levels seen in September 2019. This increase in air passenger traffic has led to an expansion of airline companies' aircraft fleets, which, in turn, is expected to directly impact the landing gear MRO market.
- The rise in air passenger traffic is expected to lead to more frequent flight operations and an increase in the procurement of new aircraft, which will subsequently impact the landing gear MRO market in the coming years. This is because as the number of aircraft in operation increases, there will be a greater need for maintenance and repair services, including landing gear MRO services. As a result, the landing gear MRO market is expected to experience growth in the coming years, with increasing demand for maintenance and repair services.
