Commercial Aircraft Landing Gear MRO Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.90 % |
| Market Concentration | Low |
Major Players.webp "Commercial Aircraft Landing Gear MRO Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Commercial Aircraft Landing Gear MRO Market Analysis
The commercial aircraft landing gear MRO market is projected to register a CAGR of 5.9% during the forecast period.
- The COVID-19 pandemic had a significant impact on all sectors, including the aviation industry. Due to restrictions on air travel, the overall passenger traffic declined by 60% to 65%. However, as the situation normalized in the fiscal year 2021-2022, the number of air passengers increased, leading to the unfreezing of standby orders of commercial aircraft and an increase in orders from airline companies.
- As of September 2022, the total traffic measured in revenue passenger kilometers (RPKs) rose by 57.0% compared to September 2021. Global traffic is now at 73.8% of the levels seen in September 2019. This increase in air passenger traffic has led to an expansion of airline companies' aircraft fleets, which, in turn, is expected to directly impact the landing gear MRO market.
- The rise in air passenger traffic is expected to lead to more frequent flight operations and an increase in the procurement of new aircraft, which will subsequently impact the landing gear MRO market in the coming years. This is because as the number of aircraft in operation increases, there will be a greater need for maintenance and repair services, including landing gear MRO services. As a result, the landing gear MRO market is expected to experience growth in the coming years, with increasing demand for maintenance and repair services.
Commercial Aircraft Landing Gear MRO Market Trends
Increasing Air Passenger Traffic May Propel The Market Growth
- In 2021, air passenger traffic gradually increased in several parts of the world, which can be attributed to the robust vaccine programs in various regions. As a result, governments have eased air travel regulations, leading to a rise in the total number of air passengers. This increase in air traffic will result in a higher demand for MRO landing gears, as aircraft deliveries are expected to remain slow and inadequate to keep up with the demand growth.
- The retirement of larger aircraft that are currently in service to reduce operating costs further worsens the situation. According to the International Air Transport Association (IATA), the total number of air passengers is expected to almost double over the next two decades, providing huge opportunities for MRO providers in the coming years.
- The aviation sector is experiencing growth due to increasing investment and an increasing number of airports, which create a demand for new aircraft, thus driving the market's growth. In 2021, Boeing and Airbus showcased recovery in aircraft deliveries after the pandemic. Boeing delivered 340 commercial aircraft in 2021 compared to 157 in 2020, while Airbus delivered 611 aircraft, up from 566 in 2020. The demand for new aircraft will result in a higher demand for landing gear MRO services.
- The demand for narrow-body aircraft is expected to recover faster than wide-body aircraft as domestic demand is expected to return to pre-COVID-19 levels earlier than the international passenger demand. The return of the 737 MAX into service will help the growth of the narrow-body subsegment, which is the most dominant in the commercial aviation segment.
- Aircraft OEMs are increasing the production rates of aircraft above pre-pandemic levels due to the growth in orders. Airbus plans to raise the output of its A320 family to 65 jets per month by 2023 and is considering rates as high as 75 per month by 2025. It reached 60 per month in 2019 before dropping to 40 per month in 2020 due to the COVID-19 pandemic. Furthermore, Boeing published a Commercial Market Outlook 2022, forecasting that the world's in-service commercial fleet would nearly double over the next 20 years. The aircraft fleet would grow from 25,900 aircraft in 2019 to 47,080 by 2041, creating a demand for 41,170 new aircraft during 2022-2041. The report stated that China would require 8,485 new aircraft by 2041.
- Thus, an increasing number of commercial aircraft deliveries and growing investment from airlines will drive the growth of the MRO landing gear market in the coming years.
United States Held the Largest Market Share
- The aviation industry in the United States has experienced significant changes due to the COVID-19 pandemic. In 2020, the total number of passengers boarding flights in the country decreased by 61%, and the number of flights operated by airlines dropped by 49% compared to 2019, according to data from Transportation Security.
- However, the situation gradually improved. According to the Bureau of Transportation Statistics, in May 2022, US airlines carried 71.2 million systemwide passengers, down 0.7% from April. This is an indication that demand for air travel has started to rebound, and airlines are responding by expanding their fleet sizes and adding more international flights.
- In December 2022, United Airlines placed a massive order for 100 Boeing 787 Dreamliners with the option to purchase 100 more. This is a significant boost for Boeing and United Airlines, one of its largest customers, and comes as United returns to profitability after the pandemic's travel slump. The new planes will replace older, less fuel-efficient aircraft and enable the airline to fly longer routes.
- The increase in air logistics industry demand has also resulted in logistics companies increasing their fleet sizes. In 2020, air cargo demand in the United States rose, prompting air cargo carriers to order new aircraft to expand their fleets. For example, DHL Express increased its firm orders for 777Fs from Boeing by eight units in January 2021 and added options for four more.
- Considering the rise in passenger traffic, commercial segment procurement, and increasing demand for air logistics services, the aviation industry in the United States is poised for growth in the coming year.
Commercial Aircraft Landing Gear MRO Industry Overview
The Commercial Aircraft Landing Gear MRO Market is highly fragmented due to the presence of numerous players offering a wide range of MRO services. Among the prominent players in the Commercial Aircraft Landing Gear MRO Market are Héroux-Devtek Inc., CIRCOR International Inc., Magellan Aerospace Corporation, Triumph Group Inc., Safran SA, Raytheon Technologies Corporation, Sumitomo Precision Products Co. Ltd, AAR Corp., Liebherr-International Deutschland GmbH, Honeywell International Inc., Revima Group, and Meggitt PLC.
Commercial Aircraft Landing Gear MRO Market Leaders
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Héroux-Devtek Inc.
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CIRCOR International Inc.
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Magellan Aerospace Corporation
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Triumph Group Inc.
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Safran SA
*Disclaimer: Major Players sorted in no particular order
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Commercial Aircraft Landing Gear MRO Market News
- May 2022: Magellan Aerospace Corporation announced a five-year agreement with Safran Landing Systems to manufacture complex machined landing gear components. The agreement covers the production of Magellan's current work statement and new components for commercial aircraft platforms. Deliveries will occur from Magellan's North American facilities in New York, New York, and Kitchener, Ontario.
- February 2021: Triumph Group, Inc. announced an exclusive agreement between its Triumph Systems & Support business and VSE Aviation to distribute over 1,600 original equipment spare parts for various Boeing and Airbus commercial platforms. This distribution agreement enables commercial operators to access Triumph's original parts for critical landing gear components to fulfill their aftermarket needs.
Commercial Aircraft Landing Gear MRO Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porters Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Landing Gear Type
- 5.1.1 Main Landing Gear
- 5.1.2 Nose Landing Gear
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5.2 By Aircraft Type
- 5.2.1 By Aircraft Type
- 5.2.2 Wide-body Aircraft
- 5.2.3 Regional Aircraft
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5.3 By MRO Type
- 5.3.1 Replacement
- 5.3.2 Repair
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.2 Europe
- 5.4.2.1 United Kingdom
- 5.4.2.2 France
- 5.4.2.3 Germany
- 5.4.2.4 Russia
- 5.4.2.5 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 India
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 Latin America
- 5.4.4.1 Brazil
- 5.4.4.2 Mexico
- 5.4.4.3 Rest of Latin America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 United Arab Emirates
- 5.4.5.3 Egypt
- 5.4.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share**
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6.2 Company Profiles*
- 6.2.1 Héroux-Devtek Inc.
- 6.2.2 CIRCOR International Inc.
- 6.2.3 Magellan Aerospace Corporation
- 6.2.4 Triumph Group Inc.
- 6.2.5 Safran SA
- 6.2.6 Raytheon Technologies Corporation
- 6.2.7 Sumitomo Precision Products Co. Ltd
- 6.2.8 AAR Corp.
- 6.2.9 Liebherr-International Deutschland GmbH
- 6.2.10 Honeywell International Inc.
- 6.2.11 Revima Group
- 6.2.12 Meggitt PLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityCommercial Aircraft Landing Gear MRO Industry Segmentation
Landing gears are important, as they provide a suspension system to the aircraft during taxiing, take-off, and landing, while also facilitating braking and direction control through the provisions of integrating supportive systems for the aircraft. The commercial aircraft landing gear MRO includes the maintenance, repair, and overhaul services of commercial aircraft.
The commercial aircraft landing gear MRO market is segmented by landing gear type, aircraft type, MRO type, and geography. By landing gear type, the market is segmented into main landing gear and nose landing gear. By aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, and regional aircraft. By MRO type, the market is segmented into replacement and repair. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa.
For each segment, the market sizes and forecasts are done based on value (USD billion)
| By Landing Gear Type | Main Landing Gear | |
| Nose Landing Gear | ||
| By Aircraft Type | By Aircraft Type | |
| Wide-body Aircraft | ||
| Regional Aircraft | ||
| By MRO Type | Replacement | |
| Repair | ||
| By Geography | North America | United States |
| Canada | ||
| By Geography | Europe | United Kingdom |
| France | ||
| Germany | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Latin America | Brazil |
| Mexico | ||
| Rest of Latin America | ||
| By Geography | Middle-East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| Egypt | ||
| Rest of Middle-East and Africa |
Commercial Aircraft Landing Gear MRO Market Research FAQs
What is the current Commercial Aircraft Landing Gear MRO Market size?
The Commercial Aircraft Landing Gear MRO Market is projected to register a CAGR of greater than 5.90% during the forecast period (2024-2029)
Who are the key players in Commercial Aircraft Landing Gear MRO Market?
Héroux-Devtek Inc., CIRCOR International Inc., Magellan Aerospace Corporation, Triumph Group Inc. and Safran SA are the major companies operating in the Commercial Aircraft Landing Gear MRO Market.
What years does this Commercial Aircraft Landing Gear MRO Market cover?
The report covers the Commercial Aircraft Landing Gear MRO Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Commercial Aircraft Landing Gear MRO Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Commercial Aircraft Landing Gear MRO Industry Report
Statistics for the 2024 Commercial Aircraft Landing Gear MRO market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Aircraft Landing Gear MRO analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
