Since the end of global economic crisis from 2008, the aviation sector is steadily growing towards success and technological advancements. Essential aspects of the industry like landing gear and undercarriage are also progressing at effective rate. Undercarriage is an indispensible and crucial part of an aircraft. Complex in nature and mechanism, landing gear system enables easy taxiing, takeoff and landing of the aircrafts. Undercarriage system components and their utilization depend on the type and size of the aircrafts. It also depends on the type of surface where the planes are carrying out the takeoff and landing activities. Global landing gear market is expected to grow at a steady rate.
Landing Gear and Undercarriage Market Scenario
Growth of various segments of this market depend on numerous aspects including the latest market trends, prevailing challenges, emerging technologies and their applications, geographical demands, etc. Basic segmentation in the global undercarriage market is based on the types of types of aircrafts, their models and types of landing gear. The market is also segmented based on the demand pattern across various geographical regions. Based on the types of landing gear, the market is segmented into nose landing and main landing gear. Based in the types of aircrafts, the industry is segmented into three basic types, namely, very large, narrow body and wide body crafts. Following are the details of the aircraft models studied for detailed research reports on undercarriage:
Key Takeaways and Forecasting
The market is also segmented based on the major stakeholders, which include airlines, passengers, aircraft manufacturers, aircraft landing gear systems manufacturers, brake systems manufacturers, actuator manufacturers, MROs, hydraulic systems manufacturers and aviation regulatory bodies. All these components need to be studied, in order to draw conclusions about the future trends in the industry. Based on the analysis of all the aforementioned stakeholders and basic segmentation of the market, researchers have drawn conclusive forecasting reports about the global landing gear market. According to these reports, the global industry is expected to grow at a steady CAGR of 4.8% from 2013 to 2018. Based on these figures, the market is expected to become worth $4.1 million in 2018. As of 2013, the market is worth $3.2 billion in 2013.
Growth of the landing gear systems market depends on the overall growth observed in the global aviation sector. According to the estimates, the aviation sector is going through a transition period, with numerous technological advancements and business opportunities. This will influence the landing gear and undercarriage industry as well.