Aircraft Gear Market

Increasing investment in the domestic aviation industry to drive the market.

Saudi Arabia is focusing on expanding its aviation sector at a large scale, supporting the growth of the aircraft gear market. Under Vision 2030, the government of Saudi Arabia is working to develop a diversification strategy in its economy and make it one of the world's leading centers in aviation. Such vision has led to heavy investment in aviation infrastructure, fleets, and new airlines, with all these actions promoting a high demand for aircraft components, such as gear systems. In May 2024, Riyadh hosted the Future Aviation Forum, which accounted for over 100 agreements valued at around USD 20 billion in aircraft procurement, aviation services, and advanced air mobility. Such heavy investment clearly reflects the focus on modernizing its aviation systems and, subsequently, promoting the need for aircraft components such as gears.

Saudi Arabia has launched efforts through its General Authority of Civil Aviation to develop business jets and private aviation to extend to USD 2 billion by 2030, supporting the demand for the aircraft component market and the aviation industry. The rise in private aircraft will also necessitate increased maintenance and spare parts, such as gears used within aircraft, to sustain such growth. These strategic investments and initiatives, by Saudi in the aviation sector are creating a robust ecosystem by driving growth in the market for aircraft gears. Establishing new airlines with fleet expansions and developing aviation infrastructures drive the demand for advanced aircraft components, making Saudi Arabia a significant player in international aviation industries.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103
Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com