Market Share of Commercial Aircraft Landing Gear Industry
The market for commercial aircraft landing gear is consolidated due to the presence of few players in the market. The market includes landing gear system suppliers, component providers, landing gear integrators, and MRO providers. Safran SA, Raytheon Technologies Corporation, Honeywell International Inc., AAR CORP., and Parker Meggitt (Parker-Hannifin Corporation) are prominent players in the market. The market is forecasted to consolidate during the forecast period on account of inorganic growth via mergers and acquisitions to create MRO conglomerates and enhance service quality. On this note, in September 2022, Parker Aerospace announced that it acquired Meggitt PLC for USD 7.8 billion.
Landing gear suppliers are also investing in the research and development of advanced lightweight landing gear systems (to increase the fuel efficiency of aircraft), noise-reducing devices, and electric landing gear systems (to reduce carbon emissions from aircraft). In collaboration with JAXA, Kawasaki Heavy Industries, and Mitsubishi Aircraft Corporation, SPP is involved in FQUROH (flight demonstration of quiet technology to reduce noise from high-lift configurations). It aims to design and manufacture noise-reduction devices attached to the main landing gear.
Commercial Aircraft Landing Gear Market Leaders
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Safran SA
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Honeywell International Inc.
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AAR CORP.
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Parker Meggitt (Parker-Hannifin Corporation)
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RTX Corporartion
*Disclaimer: Major Players sorted in no particular order
