Landing gear market projected to expand

IRVING – Lucintel, a global strategic consulting and market research firm, says in a new report that the global commercial aerospace landing gear market is expected to reach an estimated $2.8 billion by 2021.

The firm said in a news release that main landing gear is the largest segment because an aircraft landing gear arrangement contains two main landing gears and a nose landing gear.

North America is expected to remain the largest region because the major customers of landing gear such as Boeing, Bombardier, Cessna Aircraft and Gulfstream Aerospace are located in this region, the release said. Lucintel also said Europe is expected to witness the highest growth over the forecast period due to development of new aircraft, such as A350XWB, A380 and A320Neo.

For business expansion, Lucintel’s report suggests new product development to introduce lightweight landing gear. It also suggests development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.

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The report says emerging trends include the introduction of electric brakes and increasing usage of lightweight materials in landing gear manufacturing. Messier-Bugatti-Dowty, UTC Aerospace Systems, Liebherr and Héroux-Devtek are among the major manufacturers of commercial aerospace landing gear. Of these, several are seeking mergers and acquisitions as strategic initiatives to drive growth, Lucintel said.

The report is available for purchase at: www.lucintel.com/commercial_aerospace_landing_gear_2016.aspx

– FWBE Staff