Asia-Pacific's aircraft landing gear market is expected to grow from US$ 1.86 Bn in 2018 to US$ 4.11 Bn by the year 2027. This represents a CAGR of 9.3% from the year 2018 to 2027.
The APAC region has tremendous growth potential with fast-growing countries like China and India and developed nations such as Japan. The region is expected to grow at around 5% to 6% this year and accounts for two-thirds of global growth. A huge middle-class population and a strong growth in middle-class spending, coupled with a wide range of income levels, are some of the factors that influence the aviation industry in the Asia Pacific region. The presence of a large number of dynamic and developing economies in APAC, especially in South East Asia, positively influence growth in the aviation industry.
As per the data from IATA, currently, the Asian region accounts for 40% of the global air cargo traffic. In the year 2018, the passenger traffic in the region rose 7.3% as compared to 2017, which has been majorly propelled by economic expansions of Asian countries. Boeing Co., Airbus are some of the prominent aircraft manufacturers that have planned to set their manufacturing bases in South East Asian countries of Malaysia, Thailand, and Singapore, further building opportunities for the aerospace components sales. Further, policymakers and regulators in the Asia Pacific region are taking initiatives to create favorable growth and investment opportunities for various industries
Currently, China is dominating the aircraft landing gear market in terms of installation, which in turn boosts the demand for aircraft landing gear market. China is one of the world’s largest aerospace manufacturing sector only behind the US, which it aims to overtake by the year 2022 through its "Made in China 2025" initiative. Further, industry experts and analysts have forecasted a demand of over 7,000 airplanes from China in the next two decades to come. In-house manufacturing would display the technological prowess of China in the global arena and steer the country away from all the political tensions. Hence, aerospace manufacturing is expected to become the fulcrum of Chinese manufacturing. Under the initiative, China has aimed at capturing close to 10% of the global commercial aircraft market, and 10-20% of the global, regional jetliners market. The growing aviation industry in China is expected to support the growth of the defense expenditure of the country amounted to US$ 63.8 Bn in 2018, out of which close to 50% of the budget share was allocated for equipment manufacturing. France is the second-largest exporter of aerospace equipment globally after the US. All these factors put together bring ample opportunities for aircraft landing gear in the region. The figure is given below highlights the revenue share of Rest of Asia-Pacific in the Asia-Pacific aircraft landing gear market in the forecast period:
Exhibit: Rest of Asia-Pacific Aircraft Landing Gear Market Revenue and Forecasts to 2027 (US$ Mn)
ASIA-PACIFIC AIRCRAFT LANDING GEAR MARKET - SEGMENTATION
Asia-Pacific Aircraft Landing Gear Market by Type
Asia-Pacific Aircraft Landing Gear Market by Aircraft Type
Asia-Pacific Aircraft Landing Gear Market by End-User
Asia-Pacific Aircraft Landing Gear Market by Gear Arrangement
Asia-Pacific Aircraft Landing Gear Market by Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1.86 Billion |
| Market Size by 2027 | US$ 4.11 Billion |
| CAGR (2018 - 2027) | 9.3% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Aircraft Type
|
|
Regions and Countries Covered
|
|
| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
|
The Asia Pacific Aircraft Landing Gear Market is valued at US$ 1.86 Billion in 2018, it is projected to reach US$ 4.11 Billion by 2027.
As per our report Asia Pacific Aircraft Landing Gear Market, the market size is valued at US$ 1.86 Billion in 2018, projecting it to reach US$ 4.11 Billion by 2027. This translates to a CAGR of approximately 9.3% during the forecast period.
The Asia Pacific Aircraft Landing Gear Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Aircraft Landing Gear Market report:
The Asia Pacific Aircraft Landing Gear Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Aircraft Landing Gear Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Aircraft Landing Gear Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+1 646 791 7070
sales@businessmarketinsights.com
Get Free Sample For Asia Pacific Aircraft Landing Gear Market
