Aircraft Gears Market by Platform (Commercial, Military), End User (OEM, Aftermarket), Gear Types (Spur, Helical, Bevel, Rack and Pinion), Application (APU, Actuators, Pumps, Air Conditioning Compressor) and Region - Global Forecast to 2028
[243 Pages Report] The Aircraft Gears market is estimated to be USD 325 million in 2023 and is projected to reach USD 403 million by 2028, at a CAGR of 4.4 % from 2023 to 2028. The expansion of global air traffic, driven by rising passenger numbers and increased cargo demand, necessitates the growth of airline fleets, subsequently driving demand for new aircraft and the gears they require.
Aircraft Gears Market Forecast to 2028
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Aircraft Gears Market Dynamics
Driver: Increase in aircraft deliveries
Increasing global air travel demand and airlines' fleet modernization efforts significantly drive the aircraft gear market. Emerging markets experiencing rapid economic growth are contributing to a heightened need for new aircraft, directly impacting the demand for advanced aircraft gears essential for engine, auxiliary power units, and control systems optimization. This trend is further accelerated by the aviation industry's shift towards more fuel-efficient and environmentally friendly aircraft, necessitating the adoption of sophisticated gears to enhance operational efficiency and performance.
Airlines are actively replacing older aircraft with newer, technologically advanced models to comply with stringent emissions regulations and achieve competitive operational cost advantages. This replacement cycle is particularly pronounced within the low-cost carrier segment, which capitalizes on the economic benefits of modern aircraft. The consequent robust aircraft delivery pipeline presents a significant growth opportunity for the aircraft gear market. Manufacturers and suppliers are thus encouraged to focus on innovation and the supply of essential components that meet the evolving demands of the aviation sector, positioning the aircraft gear market for substantial expansion shortly.
Restraints: Material Supply Chain Vulnerabilities
Material supply chain vulnerabilities significantly restrain the aircraft gear market, impacting the stability, cost, and timely delivery of essential components. The production of aircraft gears relies on a complex global supply chain to procure specialized materials, such as advanced alloys, composites, and metals like titanium, which are critical for manufacturing lightweight, durable, and high-performance gears. Disruptions in the supply of these materials—from geopolitical tensions, trade disputes, natural disasters, or pandemics—can lead to shortages, increased material costs, and extended lead times for gear manufacturing.
Opportunity: Economic growth provides new opportunities
Economic growth is a pivotal opportunity for the aircraft gear market, driven by expanding air travel demand in emerging economies and the subsequent need for new aircraft. The global aviation industry is expected to grow substantially, with the International Air Transport Association (IATA) projecting a doubling of air passengers to 8.2 billion by 2037. This growth is particularly pronounced in regions like Asia-Pacific, which is forecasted to lead the world in passenger growth, offering a significant opportunity for the aircraft gear market.
As economies expand, there is a marked increase in disposable income and a burgeoning middle class, particularly in emerging markets, fueling the demand for air travel. This economic prosperity translates into increased investments in fleet expansion and modernization by airlines to cater to the growing passenger traffic. Consequently, there is a heightened demand for advanced aircraft gear systems, essential for the operation of engines, auxiliary power units, and various control systems in modern aircraft. Moreover, economic growth stimulates cargo transportation, further driving the demand for freight aircraft and, by extension, the gears that power these vehicles.
Challenges: Complex design and integration of new materials
The aircraft gear market is confronting a significant challenge with the complex design and integration of new materials. Advanced materials such as high-strength alloys, ceramics, and composite materials offer the potential for lighter, stronger, and more durable gear. However, their integration into aircraft gear manufacturing presents several hurdles. These materials often require novel manufacturing techniques, such as additive manufacturing or specialized machining processes, which can substantially increase production complexity and costs.
Moreover, the unique properties of these materials, while beneficial in terms of performance, necessitate extensive research and development to fully understand their behavior under the extreme conditions of aircraft operation. This includes rigorous testing for fatigue resistance, thermal stability, and compatibility with other materials used in the gear assembly. The transition to these advanced materials also involves overcoming certification barriers. Given the critical role of gears in aircraft safety, any new material or design must undergo a comprehensive certification process with aviation regulatory bodies, which can be time-consuming and costly.
Aircraft Gears Market Ecosystem
In the Aircraft Gears market ecosystem, key stakeholders range from major Aircraft Gears providers to private enterprises, distributors, suppliers, retailers, and end customers like aircraft OEMs and System Integrators. Influential forces shaping the industry include investors, funders, academic researchers, distributors, service providers, and commercial procurement authorities. This intricate network of participants collaboratively drives market dynamics, innovation, and strategic decisions, highlighting the complexity and vitality of the Aircraft Gears sector.
Based on the platform, the military aviation segment is estimated to lead the Aircraft Gears market in 2031
Based on the platform, the Aircraft Gears market has been segmented into commercial and military aviation. The evolving nature of global security threats, including geopolitical tensions, territorial disputes, and the need for advanced surveillance capabilities, has led nations to invest in strengthening their air defense capabilities. This involves procuring new aircraft and upgrading existing fleets with modern technologies, thereby increasing the demand for high-quality, reliable aircraft gears that are critical for the operation of these advanced machines.
Based on gear type, the Spur gears segment is estimated to have the largest share in 2023.
The spur gears segment is expected to hold the largest share in 2023 based on the gear type. Spur gears are versatile and can be used in various parts of an aircraft, from propulsion systems to actuators for control surfaces like ailerons and flaps. Their compatibility with different applications within the aircraft is a significant factor in their widespread use. For engines, hydraulic systems, or auxiliary power units, spur gears are preferred due to their adaptability.
Based on the application, the actuators segment is estimated to have the highest CAGR for the Aircraft Gears market.
Based on the application, the actuators segment is expected to hold the largest share and grow the highest during the forecast period. Modern aircraft are becoming increasingly complex, with sophisticated flight control, landing, and engine management systems. This complexity requires advanced actuation systems capable of precise control and reliability under varying operational conditions. The demand for high-quality gear for these actuators is driven by the need to meet stringent performance and safety standards, contributing to the market's growth.
The North American market is projected to have the largest market share in 2023 in the Aircraft Gears market.
Aircraft Gears Market by Region
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The Aircraft Gears market has been segmented based on region into North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. Numerous factors, such as the region's robust aerospace industry, technological innovation, a supportive regulatory environment, and increased focus on sustainability, are driving the highest market share in North America for the market. North America has an ecosystem of aerospace companies, component manufacturers, and system integrators.
Key Players
Major players in the Aircraft gear companies include Arrow Gears (US), Precipart (Switzerland), Batom Co., Ltd. (Taiwan), Gear Motions (US), and Gibbs Gears (UK). The report covers various industry trends and innovations in the Aircraft Gearing solutions market.
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Report Metric |
Details |
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Market size available for years |
2019-2028 |
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Base year considered |
2022 |
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Forecast period |
2023-2028 |
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Forecast units |
Value (USD) |
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Segments Covered |
By Platform, End User, Gear Type and Application |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East, Latin America and Africa |
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Companies covered |
Arrow Gear (US), Precipart (US), Batom Co. Ltd (Taiwan), Gear Motions (US), Gibbs Gears (UK), Delta Gear (US), Belon Gear (US), BMT Aerospace (Belgium), WM Berg Inc. (US), American Precision Gear (US), Riley Gear Corporation (US) |
Aircraft Gears Market Highlights
This research report categorizes the commercial electric aircraft markets based on Platform, End User, Gear Type and Application.
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Segment |
Subsegment |
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By Platform |
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By End User |
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By Gear Type |
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By Application |
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By Region |
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Recent Developments
- The Market is traditional, including all the mainly well-established players atcross all verticals. These companies have long-standing contracts and very few developments regarding new entrants entering the market. Hence, there are no to negligible new developments occurring in the market.
Frequently Asked Questions (FAQs) Addressed by the Report:
What are your views on the growth prospects of the aircraft gearing solutions market?
Response: The Aircraft Gears market exhibits promising growth prospects driven by rising air travel demand, increased focus on safety and efficiency, and sustainable aviation solutions contribute to market expansion.
What key sustainability strategies are adopted by leading players operating in the Aircraft Gears market?
Response: Key players have adopted various organic and inorganic strategies to strengthen their position in the Aircraft gear market. Major players Arrow Gears (US), Precipart (Switzerland), Batom Co., Ltd. (Taiwan), Gear Motions (US), and Gibbs Gears (UK) have adopted various strategies, such as long-standing contracts with key OEMs, to strengthen their presence in the market further.
What are the new emerging technologies and use cases disrupting the Aircraft gear market?
Response: Very few new technologies are expected to disrupt the gears market in the short term. With the advent of electric planes and other such platform technologies, there could be a disruption in the demand for gear.
Who are the key players and innovators in the ecosystem of the Aircraft Gears market?
Response: Major players in the Aircraft Gears market include Arrow Gears (US), Precipart (Switzerland), Batom Co., Ltd. (Taiwan), Gear Motions (US), and Gibbs Gears (UK)
Which region is expected to hold the highest market share in the aircraft gearing solutions market?
Response: The aircraft Gears market in the North American region is estimated to account for the largest share of the market in 2023.
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The research study on the aircraft gears market involved the extensive use of secondary sources, directories, and databases such as Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information relevant to the market. Primary sources included industry experts, service providers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of this industry's value chain. In-depth interviews with primary respondents, including key industry participants, subject matter experts, industry consultants, and C-level executives, were conducted to obtain and verify critical qualitative and quantitative information about the aircraft gears market and assess the market's growth prospects.
Secondary Research
The market share of companies in the aircraft gears market was determined using secondary data acquired through paid and unpaid sources and analyzing the product portfolios of major companies operating in the market. These companies were rated based on the performance and quality of their products. Primary sources further validated these data points.
Secondary sources referred to for this research study on the aircraft gears market included government sources, such as International Air Transport Association (IATA), Boeing Outlook 2023, Airbus Outlook 2023, and federal and state governments of various countries; corporate filings, such as annual reports, investor presentations, and financial statements; and trade, business, and professional associations; among others. Secondary data was collected and analyzed to determine the overall size of the aircraft gears market, which was further validated by primary respondents.
Primary Research
Extensive primary research was conducted after acquiring information regarding the aircraft gears market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, and Middle East, Africa and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews.
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Market Size Estimation
- Both top-down and bottom-up approaches were used to estimate and validate the size of the aircraft gears market.
- Key players were identified through secondary research, and their market ranking was determined through primary and secondary research. This included a study of annual and financial reports of the top market players and extensive interviews of leaders, including CEOs, directors, and marketing executives.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.
Aircraft Gears Market Size: Bottom-up Approach
Aircraft Gears Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using both top-down and bottom-up approaches.
The following figure indicates the market breakdown structure and the data triangulation procedure implemented in the market engineering process to make this report on the aircraft gears market.
Market Definition
A gear is a toothed wheel that meshes with other toothed parts to transmit power. They can change the speed and direction of rotation, as well as increase or decrease torque. Aircraft gear refers to the assemblies of gears in an aircraft that transmit power from power sources to various mechanical systems. This encompasses a diverse range of gear systems categorized by their functions. Their application areas include actuators and pumps. Auxiliary power units, and air conditioning compressors, as well as systems for generating hydraulic and electrical power.
Key Stakeholders
Various stakeholders of the market are listed below:
- Raw Material Suppliers
- Aircraft Gears Manufacturers
- Technology Support Providers
- Distributors
- System Integrators
- Government Agencies
- Investors and Financial Community Professionals
- Research Organizations
Report Objectives
- To define, describe, segment, and forecast the size of the aircraft gears market based on platform, gear type, end user, application, and region.
- To understand the structure of the aircraft gears market by identifying its various segments and subsegments
- To identify and analyze key drivers, restraints, opportunities, and challenges that influence market growth.
- To provide an overview of the tariff and regulatory landscape for the adoption of the aircraft gears market across regions
- To forecast the size of market segments across North America, Europe, Asia Pacific, Middle East, Latin America, Africa along with major countries in each region
- To identify transportation industry trends, market trends, and technology trends currently prevailing in the market
- To analyze micromarkets1 with respect to individual technological trends and their contribution to the total market
- To analyze opportunities in the market for stakeholders by identifying key market trends
- To profile key market players and comprehensively analyze their core competencies
- To provide a detailed competitive landscape of the market, along with an analysis of business and strategies such as partnerships, and agreements in the aircraft gears market.
Available customizations
Along with the market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of the market segments at the country level
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Aircraft Gears Market