Report : Europe Helicopter Landing Gear Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type ( Skids and Wheels ), Material ( Aluminum Landing Gear Set, Steel Landing Gear Set, Composite Landing Gear Set, and Titanium Landing Gear Set ), and Application ( Civil Helicopter and Military Helicopter )
Civil Helicopters Segment to Dominate Europe Helicopter Landing Gear Market during 2020–2028
According to a new market research study on “Europe Helicopter Landing Gear Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material, and Application” is expected to reach US$ 1,537.07 million by 2028 from 1,137.03 US$ million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the Europe helicopter landing gear market along with the drivers and restraints pertaining to the market growth. Composites being used extensively for manufacturing helicopter landing gear systems is the major factor driving the growth of the Europe helicopter landing gear market. However, issues associated with landing gear design and manufacturing hinders the growth of Europe helicopter landing gear market.
The Europe helicopter landing gear market is segmented into Type, material, and application. Based on type, the helicopter landing gear are segmented into skids and wheeled. The skids segment held the largest market share in 2020. Based on material, the helicopter landing gear market is segmented into aluminum landing gear set, steel landing gear set, composite landing gear set, and titanium landing gear set. The composite landing gear set segment dominated the market in 2020. Based on application, the helicopter landing gear market is segmented into civil helicopter and military helicopter. Civil helicopter segment held the largest market share in 2020.
The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their excellent healthcare systems, Western European nations such as Germany, France, Russia, and the United Kingdom have witnessed a comparably slight decline in their growth activities. These countries' governments have made major investments to improve the efficiency and effectiveness of illness diagnosis and treatment. According to the Centre for Strategic and International Studies, military expenditures in European nations is projected to fall as a result of COVID-19's worldwide financial crisis, resulting in fewer new military helicopters being adopted, affecting the helicopter landing gear industry. According to CSIS, France, the UK, and Germany pay for a substantial portion of Europe's overall military budget, and these countries are likely to bring down their military budget allocations in 2021 due to macroeconomic situations. For instance, Germany has proposed a cut in defense spending from USD 20.3 billion in 2020 to USD 18.7 billion in 2024, which is likely to stymie military modernization and other armament programs. As a result, the helicopter landing gear market in Europe is likely to struggle in the coming years.
APPH; CIRCOR AEROSPACE, INC.; Dart Aerospace; Eurocarbon B.V.; LIEBHERR-INTERNATIONAL DEUTSCHLAND GMBH; Safran; ST ENGINEERING; Technodinamika; and Trelleborg Group are among the leading companies in the Europe helicopter landing gear market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, DART Aerospace Receives EASA Certification for its Bell 505 Standard and Float Skidtubes.
The report segments the Europe Helicopter Landing Gear Market follows:
Europe Helicopter Landing Gear Market – By Type
Europe Helicopter Landing Gear Market – By Material
- Aluminum Landing Gear Set
- Steel Landing Gear Set
- Composite Landing Gear Set
- Titanium Landing Gear Set
Europe Helicopter Landing Gear Market – By Application
- Civil Helicopter
- Military Helicopter
Europe Helicopter Landing Gear Market – By Country
- Rest of Europe
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