Asia-Pacific aircraft landing gear market is expected to grow from US$ 1. 86 Bn in 2018 to US$ 4. 11 Bn by the year 2027. This represents a CAGR of 9. 3% from the year 2018 to 2027. Growing economies such as Asia-Pacific, Middle East, Africa, and South America accounted for more than 60% of the world’s economic growth in the last ten years.
New York, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Aircraft Landing Gear Market to 2027 - Regional Analysis and Forecasts by Aircraft Type; Gear Arrangement; Type; End-User;" - https://www.reportlinker.com/p05833585/?utm_source=GNW
The Asia Pacific is foreseen to be the highest revenue generator region in the world, owing to huge growth in air traffic in countries such as China, India, Singapore, and Japan, among others. Asia Pacific region is foreseen to carry 3.1 billion passengers by 2035, an uprise of 1.8 billion in 2016. The average growth in air traffic in the region is anticipated to be 4.7% from 2016 to 2035. The expanding network of airports and market liberalization policies are driving the aviation industry. Liberalization policies in various countries are encouraging significant growth in air traffic by removing constraints on pricing, route entry, and service capacity. The development of low-cost carriers (LCCs) is one of the major examples of market liberalization in the aviation industry. Hence, the positive growth outlook of the aviation industry is leading to an increased demand for both passenger and freight aircraft. During the forecast period from 2019 to 2027, this increased demand is expected to fuel the growth of the aircraft landing gear market.
The demand for technologically advanced landing gear systems that could reduce weight, minimize volume, increase performance, and decrease cost, is expected to fuel the future growth of Asia-Pacific aircraft landing gear market.High strength composite materials, precise load estimation techniques, and active damping systems to reduce taxi loads are some of the areas which will lead the technological advancements in the aircraft landing gears.
Hence, technologies such as electronic control systems, electric actuation systems, radial tires, high strength metallic materials, hydro-mechanical locking systems, advanced composites, and corrosion-resistant coating materials are expected to drive the future growth of aircraft landing gear market.
The aircraft landing gear market has been segmented on the basis of aircraft type, gear arrangement, type, end-user, and country.The Asia-Pacific aircraft landing gear market by gear arrangement is segmented into the tricycle, tandem, and tail wheel.
A very few commercial as well as defense aircraft today have the tandem landing gear arrangement integrated to them.In the tandem gear type arrangement, the main gear and the tail gear are aligned together on the longitudinal axis of the aircraft.
The commercial planes that were equipped with tandem gear arrangements have one main gear forward on the fuselage and the tail gear behind.Very few defense aircraft were equipped with the tandem gear arrangements.
The military Bomber B-47, which is no more produced commercially or operated, was historically equipped with the tandem landing gear. The B-52, which has been in operation for the last six decades by the US Air force, is equipped with the tandem landing gear arrangement. The tricycle segment holds a significant share of the aircraft landing gear market and is expected to grow at a high CAGR. The aircraft landing gear market is competitive in nature and has the presence of some of the major players which dominate the aircraft landing gear market.
The overall aircraft landing gear market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific aircraft landing gear market.
It also provides the overview and forecast for the Asia-Pacific aircraft landing gear market based on all the segmentation provided with respect to the Asia-Pacific region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in Asia-Pacific aircraft landing gear industry. Some of the players present in the aircraft landing gear market are AAR Corp., Circor International, Inc., Collins Aerospace, GKN Aerospace Services Limited, Honeywell, International, Inc., Liebherr Group, Magellan Aerospace Corporation, SAFRAN SA, Sumitomo, Precision Products Co., Ltd., and Triumph Group Inc.
Read the full report: https://www.reportlinker.com/p05833585/?utm_source=GNW
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