Increase in the number of commercial airlines due to surge in demand for air travel will propels the growth of the market. North America dominates the aircraft landing gear repair and overhaul market as the aviation and aerospace sector of the US is growing swiftly, creating the demand for aircraft gearboxes.

Newark, Nov. 29, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global aircraft landing gear repair and overhaul market is expected to grow from USD 4.30 billion in 2022 to USD 5.82 billion by 2030, at a CAGR of 3.85% during the forecast period 2022-2030.

There is a surge in commercial flights post-pandemic, after a sharp decline in Covid time. For instance, based on one of the studies, commercial aviation in August 2022 in the EU increased by 25% compared to August 2021. The number is yet below the pre-pandemic levels, but the void is shrinking. The number of commercial aviation recorded in August 2022 was 596,930 compared to 478,996 in August 2021. It was 324,538 in August 2020 and 695,912 in August 2019. Moreover, some EU airports observed an upsurge in the total commercial flights compared to 2019.

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All these factors are eventually driving the aircraft landing gear repair and overhaul market. However, the shortage of skilled personnel is acting act as crucial restraint for the market. This sector is experiencing a shortage of technicians, and as the current unemployment rate is so low, the micro-industry demand is being worst. The landing gear overhaul needs specific expertise. For instance, Czech Airlines Technics has experience of around 18 years in landing gear maintenance, but there is still a shortage of qualified technical staff, especially in the last few years. This acts as a restraint for the market.

Competitive Strategy

To enhance their market position in the global aircraft landing gear repair and overhaul market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. 

• For example, in October 2015, ST Engineering, a Singapore-based multinational defence and aerospace corporation, completed the acquisition of the aircraft repair company, S-PRO. The acquisition helped fulfil the company’s strategy of making its Singapore base the centre-of-excellence for landing gear repair, maintenance, and overhaul.

Market Growth & Trends

The landing gear is the undercarriage of the spacecraft or aircraft, which has its application in take-off or landing. For aircraft it is commonly used for both landing and aircraft.  The aircraft landing gear repair and overhaul market is growing due to commercial airlines and air traffic surges. The surge in demand for air travel has led to an increase in the number of commercial airlines. This propels the growth of the market. Also, there is an increase in air traffic, fuelling the market's growth.  The aviation sector is growing and is directly connected to the economy's growth as it offers several opportunities for trade and commerce. The aviation sector also helps tourism by offering air transport facilities to tourist destinations. The landing gear helps the aircraft when it is not flying. It also helps in landing, taking off, and taxiing without damage.

Aircraft Landing Gear Repair and Overhaul Market Scope:

Key Findings

• In 2022, the fixed-wing segment dominated the market with the largest market share of 69.36% and market revenue of USD 2.98 billion.

The type segment is divided into fixed-wing and rotary-wing. In 2022, the fixed-wing segment dominated the market with the largest market share of 69.36% and market revenue of USD 2.98 billion. The aeroplane landing gear takes the total weight of the aircraft. Retraction mechanisms, brakes, shock-absorbing equipment, controls, warning devices, fairings, cowlings and structural members are landing gear types which are also considered landing gear components within a configuration.

• In 2022, the commercial segment dominated the market with the largest market share of 72.18% and market revenue of 3.10 billion.

The application segment is divided into commercial and military. In 2022, the commercial segment dominated the market with the largest market share of 72.18% and market revenue of 3.10 billion. This growth is attributed to the growing commercial aviation sector, especially in emerging economies.

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Regional Segment Analysis of the Aircraft Landing Gear Repair and Overhaul Market:

• North America (U.S., Canada, Mexico)

• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

• Asia-Pacific (China, Japan, India, Rest of APAC)

• South America (Brazil and the Rest of South America)

• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The North American region occurred as the largest market for the global aircraft landing gear repair and overhaul industry, with a market share of 37.88% and a market value of around 1.63 billion in 2022. North America dominates the aircraft landing gear repair and overhaul market as the aviation and aerospace sector of the U S is growing swiftly, creating the demand for aircraft gearboxes. The leading aircraft manufacturers are present in the region. Further, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to surge in the spending in the military aviation. The emerging economy like India and China provide huge opportunity to the market as the aviation sector is expanding and thus require maintenance.

Key players operating in the global aircraft landing gear repair and overhaul market are:

• AAR Corp

• Delta TechOps (Subsidiary of Delta Air Lines)

• FL Technics (Subsidiary of Avia Solutions Group)

• Lufthansa Technik AG (Subsidiary of Lufthansa Group)

• Safran S.A

• ST Engineering

• Hong Kong Aircraft Engineering Company Limited (Subsidiary of A Swire Group Company)

• RUAG Group

• Turkish Technic Inc. (Subsidiary of Turkish Airlines)

• AFI KLM E&M (Subsidiary of Air France–KLM Group)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global aircraft landing gear repair and overhaul market based on below mentioned segments:
Global Aircraft Landing Gear Repair and Overhaul Market by Type:

• Fixed-wing

• Rotary-wing

Global Aircraft Landing Gear Repair and Overhaul Market by Application:

• Commercial

• Military

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About the report:

The global aircraft landing gear repair and overhaul market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

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