Aircraft Gearbox Market

Aircraft Gearbox Market Insights

“The global aircraft gearbox market is projected to grow at a promising CAGR of 4.8% over the next five years to reach an estimated value of US$ 2.8 billion by 2025.”

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Introduction

An Aircraft Gearbox is defined as a component that is responsible for the transmission system and that aids in manipulating rotational speed. Also, aircraft have a gearbox for the special function of getting a reduction in the output speed of the engine before the propeller is turned on. Aircraft Gearboxes can be of different types based on the size of the aircraft. Also, the type of gearbox used also depends on the application of the gearbox.

Market Drivers

Increasing commercial aircraft deliveries along with a growing demand for Pure-Power Geared Turbofan (GTF) engines, rising aircraft fleet size, advancements in the gearbox technology, and the introduction of lightweight gearboxes are some of the factors proliferating the growth of the aircraft gearbox market.

Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the aircraft gearbox market (arranged alphabetically).

• AB SKF
• BMT Aerospace
• GE AVIO S.r.l. (Avio Aero)
• Kawasaki Heavy Industries Ltd.
• Northstar Aerospace, Inc.
• Safran Transmission Systems
• The Liebherr Group
• The Timken Company
• United Technologies Corporation.

Note: The above list does not necessarily include all the top players in the market.

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The development of advanced gearboxes and the formation of long-term contracts are some of the major strategies adopted by key players to gain a competitive edge over others.

Aircraft Gearbox Market Segments' Analysis

Aircraft Insights

“Commercial aircraft segment dominates the market during the forecast period.”

The market is segmented into commercial aircraft (narrow-body aircraft, wide-body aircraft, very large-body aircraft), regional aircraft, general aviation, military aircraft, and Helicopters. Commercial aircraft is likely to remain the growth engines of the aircraft gearbox market and it held a revenue share of more than 65% in 2019, propelled by increasing aircraft deliveries to support rising passenger and cargo traffic, upcoming variants of existing programs, and rising commercial aircraft fleet size.

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Gearbox Insights

“The accessory gearbox segment dominates the market.”

The market is segmented into accessory gearboxes, power gearboxes, actuator gearboxes, auxiliary power unit (APU) gearboxes, and others. The accessory gearbox segment is expected to witness the highest growth during the forecast period, propelled by advancements in technology and increasing commercial aircraft deliveries.

Application Insights

“The engine segment dominates the market.”

The market is segmented into engines (turbofan, turboshaft, turboprop, turbojet, and piston engine), and airframes. The engine segment is estimated to register higher growth during the forecast period as gearboxes are an integral part of an aircraft engine and deliver the necessary thrust required during take-off and landing.

Among engine segments, turbofan is likely to remain the largest as well as the fastest-growing segment over the next five years, driven by a higher dominance in commercial and regional aircraft.

Regional Insights

“North America accounted for the largest market share.”

North America is expected to lead the aircraft gearbox market and? it held a revenue share of more than 50% in 2019. The region is the manufacturing capital of the aerospace industry with the presence of several OEMs, engine manufacturers, gearbox suppliers, distributors, and component suppliers. The USA will continue to propel the demand for aircraft gearboxes in the region over the next five years. Boeing, Bombardier, Lockheed Martin, and Gulfstream are the major aircraft makers, generating a high demand for gearboxes for their aircraft assembled in the region. The opening of assembly plants for the A320 aircraft program by Airbus in the USA further assures a healthy demand for aircraft gearboxes in the region.

Asia-Pacific is likely to witness the highest growth over the next five years, primarily propelled by China, Japan, and Singapore. China and Japan are likely to remain the major markets in the region, whereas India is going to be the fastest-growing market over the same period. Boeing anticipated in its commercial aerospace outlook 2019-2038 that approximately 17,390 commercial and regional aircraft are going to be delivered in the Asia-Pacific region in the next twenty years. It is a good opportunity for local players to invest in the aerospace industry to reap long-term profitable benefits.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft gearbox market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.