Pune, India -- (SBWIRE) -- 11/19/2020 -- Global Aircraft Landing Gear Market evaluate that the aviation industry has witnessed a severe impact due to the COVID-19 outbreak. The reduced air traffic has caused an enormous loss for the industry. Government restrictions on travel and transportation have resulted in financial jeopardy. The cancel orders of aircraft have led to an immense drop in revenue. The unavailability of the workforce due to lockdown in countries will subsequently dampen the growth of the market. The reduced aircraft production rate owing to the disrupted supply chain can consequently hamper the growth of the market. Nevertheless, the improving conditions in several regions can simultaneously aid the recovery of the market in the forthcoming years.

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Key Questions Answered:
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What are the key demands and trends shaping the market?
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What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
Market Driver:

Increasing Procurement of New Generation Aircraft to Improve Business Prospects:-
The increasing procurement of aircraft with advanced features and apt fuel-efficiency will spur lucrative business opportunities for the market. The surging fleet expansion has further led to new aircraft orders, in turn, aiding the growth of the market. Moreover, the heavy spending on military aircraft in the defense sector will subsequently bolster the healthy growth of the market. The growing popularity of UAVs in military operations will enable speedy expansion of the market. Furthermore, the growing requirement for maintenance and refurbishment of landing gear can have an excellent effect on the market. The surging defense budget to modernize the existing fleet will consequently spur opportunities for the market.

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The Report Lists the Main Companies in the Aircraft Landing Gear Market:
-AAR Corporation (The U.S.)
-Alaris Aerospace (The U.S.)
-CIRCOR International Inc. (The U.S.)
-Collins Aerospace (The U.S.)
-GKN Aerospace (The U.K.)
-Hawker Pacific Aerospace (The U.S.)
-Heroux-Devtek Inc. (Canada)
-Liebherr-International AG (Germany)
-Magellan Aerospace Corporation (Canada)
-Safran SA (France)
-SPP Canada Aircraft Inc. (Canada)
-Triumph Group Inc. (The U.S.)

Key Development:
September 2019: Liebherr-International AG announced that it has signed a long-term contract with J-Air to provide overhaul services for landing gear systems of J-Air's 15 Embraer E170 family aircraft.
The Global Aircraft Landing Gear Market is expected to reach USD 20.15 billion by 2027, exhibiting a CAGR of 11.78% during the forecast period. The trend for inline in the design and development of aircraft will have an excellent impact on the market during the forecast period, states Fortune Business Insights, in a report, titled "Aircraft Landing Gear Market Size, Share & Industry Analysis, By Type (Nose Landing Gear and Main Landing Gear), By Platform (Fixed-Wing, Rotary Wing), By Arrangement (Tail Wheel, Tandem, and Tri-Cycle), By Component (Retraction System, Breaks & Wheels, Steering, and Others), By End-User (OEM and Aftermarket), and Regional Forecast, 2020-2027." The market size stood at USD 11.55 billion in 2019.

Regional Analysis:
Presence of Major Companies to Augment Growth in North America:-
The market in North America is expected to dominate the global market during the forecast period owing to the existing prominent players such as Collins Aerospace, the Boeing Company, Bombardier Inc, and others in the region. Asia Pacific is expected to experience a rapid growth rate owing to the rising defense expenditure. The rising air traffic in emerging economies such as China and India will contribute positively to the growth of the market in the region. The Middle East & Africa is expected to hold the largest share in the global market during the forecast period owing to rising orders for new aircraft by airlines in the UAE and Saudi Arabia. Besides, the growing tourism industry is expected to foster the healthy growth of the market in the region.

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An Outline of the Global Landscape:-
-Analyzing the size of the Global Aircraft Landing Gear Market on the basis of value and volume.
-Technological Advancement and product developments.
-Deeply profiling future prospects and historical data base by complete industry research.
-Worldwide manufacturing analysis and supply chain.
-Extensive analysis of the market emerging trends and technology assessment.
-Exhaustive coverage of market drivers, restraints, opportunities, threats, limitations, and prospects.
-Detailed insights on the upcoming R&D product launches, sales, revenue, size, share and product consumption in the market.

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