Aircraft Gearbox Market Analysis | 2020-2025

Market Insights

The 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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What is an Aircraft Gearbox?

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 Dynamics

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.

Segments Analysis

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By Aircraft Type

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 over the next five years, propelled by increasing aircraft deliveries to support rising passenger and cargo traffic, upcoming variants of existing programs, and rising commercial aircraft fleet size.

By Gearbox Type

The market is segmented into the accessory gearbox, power gearbox, actuator gearbox, auxiliary power unit (APU) gearbox, 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.

By Application Type

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 Analysis

In terms of regions, North America is expected to lead the aircraft gearbox market in the coming five years as 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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Key Players

Some of the major players in the aircraft gearbox market are-

• 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.

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.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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. We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the aircraft gearbox market over the trend period from 2014 to 2019 and the forecast period from 2020 to 2025. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

What Deliverables Will You Get in this Report?

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).

Market Segmentation

• Current market segmentation of any one of the component types by application type.

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.