WiseGuyRerports.com Presents “Global Military Aerospace Landing Gear Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” New
PUNE, MAHARASTRA, INDIA, October 11, 2019 /EINPresswire.com/ — The growing demand for advanced aircraft for defense and military and replacement of current aircraft with advanced lightweight mechanisms will further propel the global market demand.
Military aerospace landing gears are a combination of landing and takeoff assistance gears present on the undercarriage of the aircraft, providing the necessary support during flight. The global Military aerospace landing gears market was valued at $11.2 billion in 2018 and is predicted to go up to $18.3 billion by 2024, at a CAGR of 7.3%.
Increasing air passenger traffic due to GDP growth, availability of disposable income for tourism, the demand for military aircraft, and lower commodity prices are the driving factors in the market growth of military aerospace landing gears. Further, the replacement of landing gears in the older aircraft fleet will contribute to the market demand.
Aerospace Turbine Rotables
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UTC Aerospace Systems
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The military aerospace landing gears market can be segmented by product type, aircraft type, and platform.
Nose landing gear and main landing gear are the primary landing gears dominating the global market. The main landing gear comprises locking links & actuators, retraction/extension actuators, and upper & lower side stay. The nose landing gear can be broken down into steering actuator, telescoping nose leg, steering mechanism, and pintle pin.
The main landing gear is the largest contributor, and this upward trend is predicted to grow in the forecast period.
Among aircraft types are rotary-wing aircraft and fixed-wing aircraft. The fixed-wing aircraft is expected to show significant growth in the coming years, while the rotary-wing holds the highest market share.
Business, commercial, general, and military aviation are the primary aerospace landing gears platforms. Of these, commercial aviation was the highest contributor within the global market and is expected to continue growing at a rapid pace. With the rising availability of military funds, military aviation is also predicted to see substantial growth.
The global military aerospace landing gear market can be geographically segmented into North America, the Asia Pacific, Europe, and the Middle East & Africa. North America is the largest contributor to the global market, followed by Europe. This increased demand is because of the presence of key players and the availability of raw materials in the region. These two regions also have the most tourism globally.
The Asia Pacific is predicted to witness substantial growth owing to the increasing availability of disposable income and GDP growth. India is predicted to have the third-highest passenger traffic by 2024, while China will compete with North America for the place of the world’s largest aviation market.
Middle East, Africa, and Latin America are also expected to contribute to the global military aerospace landing gears market in the coming years.
The increase in globalization has led to a growing demand for faster connectivity within countries, thus fuelling air tourism. Industry leaders use strategies like mergers & acquisitions and research in advanced tools to get an edge over the competitors.
For instance, in 2019, TruTrak Flight Systems, merged with Honeywell Aerospace's BendixKing, which will improve BendixKing's aviation solutions portfolio.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Market Analysis by Regions
5 North America by Country
6 Europe by Country
7 Asia-Pacific by Country
8 South America by Country
9 Middle East and Africa by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Market Forecast (2019-2024)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
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Source: EIN Presswire