Market for landing gear projected to take off, Frost & Sullivan
by CM Staff
Their report suggests the market will reach $8.55 billion by 2032 from $4.57 billion in 2021, an uptick at a compound annual growth rate of 5.9 per cent.
Landing gear system- aircraft
SAN ANTONIO —Frost & Sullivan’s recent analysis of the global aircraft landing gear market suggests a surge in regional connectivity and the adoption of ultra-low cost carrier business model will expedite growth for the landing gear industry.
The report titled, Global Commercial Aircraft Landing Gear System Market declares that the market will reach $8.55 billion by 2032 from $4.57 billion in 2021, an uptick at a compound annual growth rate of 5.9 per cent.
“COVID-19 vaccine rollouts and adherence to safety standards have boosted regional air travel, inflating the demand for aircraft landing gear systems,” said Vedhas Sabnis, aerospace & defense research analyst at Frost & Sullivan, in a statement.
“Further, the recovery of the aviation sector is expected to benefit all the revenue streams of the landing gear system market—linefit, retrofit, and aftermarket.”
Frost & Sullivan also suggests the expansion of the aircraft landing gear system market will unlock more opportunities in AR applications by incorporating AR solutions in all processes, but especially in the sub-assembly stage. This involves significant manual labour and can play a vital role in manufacturing entities’ adoption of Industry 4.0 best practices.
Additive manufacturing represent another key area for growth. Suppliers operating in the landing gear ecosystem are advised to increase investments in additive manufacturing solutions to tap into their long-term benefits.
Finally, companies involved in the aftermarket segment of the landing gear business may benefit from partnerships with blockchain service integrators, Frost & Sullivan suggests.
