The landing gear and undercarriage system of an aircraft is extremely complex and crucial part of the overall structure of a plane. This important interface of the airplane enables easy taxiing, landing and takeoff. The undercarriage and landing gear system of the aircraft sometimes comprise of various components including wheels, skis, floats and skids. These components and their usage depend on the kind of surface where the aircraft is landing. The landing gear and undercarriage market deals with two types of systems, namely, main landing gears and nose landing gears. Both these types of systems have their separate classification, demand and applications.
Undercarriage and Landing Gear Market Forecasting until 2018
Various structural and subsystem elements make up for a strong landing gear system. Fittings, pins, shock struts, tires, wheels, brakes and braces encompass the structural system. Normal and alternate retraction system, steering system, braking unit, control system and indicators are essential components of the subsystem elements. These systems differ as per the type and size of the commercial aircrafts. Hence, analyzing all these elements is crucial while studying the undercarriage market for commercial aircrafts.
The Landing Gears Market is segmented based on the size of the aircrafts, including very large, wide body and narrow body aircrafts. Apart from the size, aircraft models and type of landing gears are the major segments of this market. Forecasting reports for the landing gear and undercarriage market show great prospects for the growth and expansion of the market. In fact, the market will show steady growth in terms of revenue. This growth will remain constant for the next three to four years. 4.8% is the estimated CAGR rate for this market.
Sizing of the structural systems and subsystems and difficulties in the initial design are some of the major problems that this market is facing. Businesses need to get over these challenges in order to find clear revenue channels and chances for expansion in the coming future. However, the overall revenue for the global landing gear market will be on the rise until 2018. The market is currently poised at $3.2 billion, which will reach to $4.1 million by the end of 2018.
This forecast indicates steady growth in the landing gear and undercarriage market for commercial aircrafts across the globe. Businesses need to keep a track of the challenges and major issues that their businesses are facing. It will create more opportunities in terms of growth, increased production and advanced revenue channels to take their businesses on global platform.
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