Global Aircraft Gearbox Market is Estimated to Reach $6.2 Billion by 2025, Says Accurize Market Research
Global Aircraft Gearbox Market report published by Accurize Market Research forecast that the global market is expected to reach $6.2 billion by 2025; growing at a CAGR of 8.2% from 2017 to 2025. By geography, Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
Rising demand for new aircraft drives the global aircraft gearbox market
The global aircraft gearbox market trend includes rising demand for new aircraft as well as current supremacy of purepower geared turbofan (GTF) engines. Though, present backlogs in aircraft deliveries might act as a roadblock for the global aircraft gearbox market growth. Moreover, high investment in the field of geared turbofan engines is likely to offer worthwhile opportunities for the market in the coming years.
Market Segmentation
Gearbox type, fit, aircraft type, application, and geography are the classification of the global aircraft gearbox market. The gearbox type segment is categorized into accessory gearbox (AGB), reduction gearbox (RGB), APU-gearbox, actuation gearbox, tail rotor gearbox, and other gearbox types. Linefit and retrofit are the segregation of fit segment. Aircraft type segment is sub-segmented into civil aircraft (commercial passenger/cargo aircraft, general aviation aircraft, and civil helicopters) and military aircraft (transport carriers, fighter jets, and military helicopters). On the basis of application, the segmentation includes engine (turboshaft, turboprop, piston engine, and turbofan) and airframe.
Civil aircraft, by aircraft type is anticipated to gain the fastest CAGR over the forecast period
Civil aircraft, by aircraft type is expected to gain the highest CAGR over the forecast period. This is driven by the growing air traffic coupled with growing disposable income of middle-class populations around the world.
Asia-Pacific is expected to be the fastest growing market during the forecast period
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period. The growth of this region is attributed to factors such as growth in aviation industry. Growing air passenger traffic has led to the improved demand for new lightweight as well as fuel-efficient aircraft from the region.
Competitive Landscape
Key players in the market include Aero Gearbox International, United Technologies, Aero Gear, Liebherr, Northstar Aerospace, PBS Velka Bites, SKF, Triumph Group, Safran, and CEF Industries, LLC, among others.
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