Key Players:
Safran (France), Liebherr (Germany), Raytheon Technologies Corporation (US), Rexnord Corporation (US),Triumph Group (US),Rolls-Royce plc (UK),PBS Group, a. s. (Czech Republic),CEF Industries, LLC (US),AERO GEAR (US),ZF Luftfahrttechnik GmbH (Germany).
Market Overview:
The Aircraft Gearbox Market is anticipated to reach USD 2.6 Billion by 2030 at 4.12% CAGR during the forecast period 2020-2030. An aircraft gearbox is one of the transmission system components that is placed in addition to shafts. The aircraft gearbox helps in changing the rotational speed, i.e., it either increases or decreases the aircraft's speed at different points. Due to these benefits, the demand for gearboxes is more in commercial aircraft, military aircraft, helicopters, and other aviation, including general and business.
An increase in deliveries made by aircraft, increase in investments in turbofan engines, demand for lightweight components related to aircraft, etc., are some of the factors that result in the growth of the aircraft gearbox market. However, the cost of developing the aircraft gearbox may create a hindrance in the market growth. There are chances of manufacturing defects, frosting, and spalling, which may hamper the market's progress.
Market Segmentation:
The Key Aircraft Gearbox Market Players can be segmented on aircraft type, application, component, region, gearbox type, and end-user. According to an end-user category, the market can be further divided into OEM and aftermarket. Though aircraft gearbox is utilized in aircraft only, the market can be segmented based on gearbox and aircraft types.
According to the aircraft type, the market is divided into military aircraft and civil aircraft, while accessory gearbox, actuation gearbox, reduction gearbox, auxiliary power unit gearbox, and tail rotor gearbox come under gearbox type. According to the component category, the market is segmented based on bearing, housing and gears. The segments like engine and airframe come under the component category. According to the region category, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Classification:
When the categories of the aircraft gearbox market are analyzed individually, it is found that the OEM segment in the end-user category dominates the market. According to the aircraft type, civil aircraft contribute more than military aircraft. According to the component category, the gears section dominates and contributes maximum to the market. There is an expectation that the demand for components related to housing, bearing, etc., may increase and result in market growth. The North American segment of the region category dominates the market.
Industry News:
The global analysis of the Aircraft Gearbox Market states that the market growth is expected to be 4.12% CAGR by the end of forecast period. An investment made in research and development activities will always show good returns. The usage of technology has resulted in creating new ideas. For instance, the usage of 3D printing in developing manufacturing parts has resulted in reducing the cycle time of the concerned manufacturing process. When 3D printing technology is used, parts like fairings, doors, gearboxes, etc. Therefore, additional concern towards the research and development activities related to aircraft gearbox will show a path to new useful innovations. Further, new methods have to be identified to reduce the development cost of the aircraft gearbox. Such factors should be focused on and ensure that the market growth is not disturbed.
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