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(I-TravelNewswire.Com, December 08, 2021 ) According to a research report "Aircraft Gearbox Market by Application (Engine, Airframe), Type (Reduction, Accessory, Actuation, Tail Rotor, APU), End User (OEM, Aftermarket), Platform (Civil, Military), Component (Gears, Housing, Bearing), Region - Global Forecast to 2026" published by MarketsandMarkets, the aircraft gearbox market is projected to grow from an estimated USD 2.6 billion in 2021 to USD 3.6 billion by 2026, at a CAGR of 6.9% in terms of value during the forecasted period. It is witnessing significant growth due to increasing new technologies and demand of going aircraft. The North American region will dominate the market due to the growing air traffic and replacing the existing airfleet with the new ones. Companies wanting to grow in this market must to able to track the various trends with respect to the threats and technologies needed to tackle these, and also provide complete solutions, which include the services and equipment for aircraft gearbox systems. Aircraft gearbox have their applications in civil and military aircraft platforms.
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Based on End User, the OEM segment is projected to grow at the highest CAGR during the forecast period.
The OEM segment is expected to lead the aircraft gearbox market in North America during the forecast period, owing to the presence of leading aircraft manufacturers such as Boeing. An increase in aircraft orders, as well as deliveries and an increase in passenger traffic, are the factors driving the growth of the OEM segment.
Based on Application, the Engine segment is projected to grow at the highest CAGR during the forecast period.
Based on application, engine segment is projected to grow at the highest CAGR during the forecast period. The requirement of high powered engines and its components are also driving the growth of aircraft gearbox market.
Based on component, the gears segment is projected to grow at the highest CAGR during the forecast period.
The gear component segment is projected to witness the highest growth rate due to the increasing usage of a variety of gears for different platforms such as commercial aircraft, helicopters, fighters, and military transport aircraft during the forecast period.
The North America region is estimated to lead the Aircraft gearbox market in the forecast period
The North American region is estimated to lead the aircraft gearbox market in the forecast period. The growth of the North American aircraft gearbox market is primarily driven by increasing focus on increasing investments in R&D of aircraft gearbox by countries in this region. In addition, factors including rising demand for lightweight and fuel-efficient turboprop and piston engine aircraft are expected to drive the demand for aircraft gearbox market in the region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Liebherr (Switzerland), Safran (France), Rexnord Aerospace (US), Triumph Group (US), The Timken Company (US), and United Technologies Corporation (US).
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
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