Global Aircraft Landing Gear Analysis

Introduction:

The Aircraft landing gear refers to the undercarriage of an aircraft, which is used for landing, take-off, and taxing while supporting the weight. It also helps the aircraft to stand when it is not flying and hold the aircraft in its position. The respective wheeled landing gears are retractable when the aircraft is flying in order to reduce the air drag created on the aircraft. These landing gears are of a robust nature and absorb the shock of aircraft weight when they land on the runway. Considering the rising demand for both commercial as well as military aircraft across the globe the demand for landing gear is rising.

According to a new report by Univdatos Market Insights, Aircraft Landing Gear are expected to reach USD Million in 2032 by growing at a CAGR of 4.19%. The rising demand for Aircraft Landing Gear is due to the key factor that has contributed to the growth is the demand for commercial and military aircraft.

Rising Demand for New Military Aircraft:

With the rising geopolitical tensions and improvement in air warfare technologies, there is a growing need for advanced 4.5 and 5th generation aircraft across the leading militaries such as the US, China, Russia, India, Indonesia, France, etc. This demand has also been supported by the boost in the defense budget through higher capital budget allocation. Some of the recent developments that have been observed for the large-scale military jets are as follows:

In 2023, the Defense Acquisition Council of India announced the purchase of 97 additional Tejas fighter jets and 156 Prachand attack helicopters. Both aircraft are domestically produced in India and would cost approximately USD 13 billion.

In January 2024, the government of France announced the purchase of an additional 42 upgraded Rafale Jets with a total cost of USD 5.5 billion. The respective aircraft will be delivered between 2027 to 2032.

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Considering the rising demand for military jets across the globe, the demand for OEM-based aircraft landing gears would increase. Additionally, military jets also face extreme climatic and operational environments, which leads to early wear and tear of components, further leading to support the aftermarket demand for landing gears in the long run.

Developments in Commercial Aviation:

The rapid growing demand for budget air travel among the middle-class population has encouraged the demand for low-cost carriers across the globe. Some of the countries, such as India, Indonesia, the US, Thailand, Indonesia, Australia, etc., with their rapidly increasing population, have instigated demand for low-cost carriers for applications such as tourism, business travel, study travel, etc. The prices of air travel by low-cost carriers are considerably lower than those of mainline flights due to the focus of the airlines on keeping operational costs in check.

Furthermore, the main reason for the LCC's lowered prices is the availability of add-on services, which can only be availed by customers with extra payment on demand. This type of service has helped the segment hold a dominant position in many of the growing economies, further supporting the aviation industry's expenditure growth and expansion for new aircraft.

Future Prospects and Opportunities:

One of the key factors that has supported the rise of the aircraft landing gear market is that the expansion of the commercial aviation industry requires new aircraft to expand their operations. For instance, according to Boeing Corporation, between 2023-2042, a total number of 32,420 narrowbody aircraft would be delivered. Of this, nearly 40% would be used for low-cost carrier operations across the globe. It is a significant number of commercial jets that would be crucial for the upcoming surge in the demand for landing gear for aircraft.

In another instance, in 2023, Scoot, a Singapore-based airline, announced its plans to purchase nine brand-new E190-E2 regional jets. The respective jets will be added to the fleet in March 2024.

Considering the rising demand for commercial jets and orders being placed by the leading airlines across the globe, the demand for new aircraft landing gear among the aircraft manufacturers is anticipated to rise significantly in the forthcoming years, i.e., 2024-2032.

Technological Innovation:

The overhauling in commercial and military is another crucial sector where the demand for fighter jets, cargo aircraft, and helicopters has extensively grown. Many of the leading countries, such as China, India, the US, etc., have recently announced their plans to induct a significant number of new air platforms to strengthen their air power.

The existing fleet of aircraft among the leading countries also fulfils a high replacement demand for aircraft landing gear. According to Sofema Aviation Services, a set of landing gears for an aircraft costs between USD 1.8 million and USD 7 million (for smaller to widebody aircraft), and a typical overhaul requires at least 10 years to complete.

Considering the existing military aircraft fleets of the leading countries worldwide, the aircraft landing gear market would also require significant growth. With the growing need for overhaul and maintenance in the aviation industry, the demand for Aircraft Landing Gear in this particular category is anticipated to find rapid growth, subsequently improving its market in the coming years.

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Conclusion:

The Global Aircraft Landing Gear market is experiencing a transformative phase driven by technological advancements, sustainability space operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, integrating landing gears for overhaul and maintenance purposes, etc. As aircraft landing gears continue to play a strategic role in improving the readiness of fleet operations, staying abreast of these trends and embracing innovation will be crucial for the Global Aircraft Landing Gear market.

In conclusion, the Global Aircraft Landing Gear market is poised for continued growth and innovation driven by economic expansion, aircraft developments, technological advancements, and sustainable practices. The increasing demand for air travel and expanding air prowess, among the countries and in the aviation industry, underscores the pivotal role of Aircraft Landing Gear across the globe. As stakeholders navigate challenges such as cost management, regulatory compliance, and market competitiveness, collaborations, investments in Aircraft Landing Gear infrastructure, and rising demand for military and commercial aircraft would also play a vital role in shaping the future of the Global Aircraft Landing Gear market, ensuring its resilience and contribution to the global aviation industry.

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