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 the UnivDatos Market Insights, growing demand for landing gears with increased efficiency will drive the growth scenario of Aircraft Landing Gear and as per their “Global Aircraft Landing Gear Market” report, the global market was valued at USD 23,078.01 million in 2023, growing at a CAGR of 4.19% during the forecast period from 2024 - 2032 to reach USD XX million by 2032. 

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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.

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.

Rise of Commercial Aviation:

Commercial aircraft demand has surged significantly in recent years. Some of the leading factors that have contributed to the growth are the burgeoning middle-class population in developing countries opting for air travel and the leading promotion of air travel services. In line with this, many of the leading aviation companies have announced the purchase of a large number of commercial jets to tap the rising potential in the air travel category. For instance, in 2024, Taiwan's Eva Airways Corp announced the purchase of 33 new Airbus A320 aircraft with a total cost of USD 10.1 billion. According to the company, the purchase would significantly reduce carbon emissions and would cater to its sustainability goals.

In another instance, for instance, in 2024, China’s state-owned company, Air China, announced the purchase of approximately 100 domestically manufactured c919 commercial jets from the Commercial Aircraft Corporation of China (Comac).

Considering the high demand for commercial jets across the globe to fulfill the rising need to accommodate the passenger travel surge, the production capacity enhancement of the respective category would also experience promulgation.

Additionally, with the surge in production assisted by the upcoming demand from aviation, a sizeable market growth of aircraft landing gear is anticipated to emerge in the forecasted years, i.e., 2024-2032.

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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.