(Aviation-NewsWire.Com, December 07, 2017 ) According to Publisher, the Global Commercial Aircraft landing gear market is estimated at $9.27 billion in 2016 and is expected to reach $15.03 billion by 2023 growing at a CAGR of 7.1% from 2016 to 2023. Increase in air traffic in developing nations and growing orders for advanced military aircrafts are the some of the key factors driving the market growth. Lack of safety regulations in aviation industry and long life of the gears is hampering the market growth. However, increasing aircraft manufactures in emerging economies seems to be opportunity factor for the market growth.
Based on platform, rotary wing segment is expected to show lucrative growth rate from 2016 to 2023. Growth is attributed to the growing demand for helicopters from the defence sector for transport, emergency medical services, and special missions. The commercial aviation segment among applications is anticipated to observe the highest growth. The growth is attributed to increase in air traffic and huge demand from regional operators. In 2015, North America accounted for the highest market share as compared to other regions owing to the presence of huge aircraft manufacturing companies. Growing military expenditure and demand for advanced fighter jets from developing nations is one of the drivers for the growth of market in North America region.
Some of the key players in the market include Circor Aerospace, Héroux-Devtek, Liebherr Group, Messier-Bugatti-Dowty, UTC Aerospace Systems, AAR, Honeywell Aerospace, Magellan Aerospace, Merrill Technologies Group, SPP Canada Aircraft, Triumph Group, Whippany Actuation Systems, Safran Systems Ltd. and GKN Aerospace Services Ltd.
Regions Covered: -North America - US - Canada - Mexico -Europe - Germany - France - Italy - UK - Spain - Rest of Europe -Asia Pacific - Japan - China - India - Australia - New Zealand - Rest of Asia Pacific -Rest of the World - Middle East - Brazil - Argentina - South Africa - Egypt
Company Profiling 11.1 Circor Aerospace 11.2 Héroux-Devtek 11.3 Liebherr Group 11.4 Messier-Bugatti-Dowty 11.5 UTC Aerospace Systems 11.6 AAR 11.7 Honeywell Aerospace 11.8 Magellan Aerospace 11.9 Merrill Technologies Group 11.10 SPP Canada Aircraft 11.11 Triumph Group 11.12 Whippany Actuation Systems 11.13 Safran Systems Ltd. 11.14 GKN Aerospace Services Ltd.
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