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  • Aircraft Gearbox Market worth $4.3 billion by 2025

     



    (Aviation-NewsWire.Com, October 09, 2021 ) The report "Aircraft Gearbox Market by Application (Engine, Airframe), Gearbox Type (Reduction, Accessory, Actuation, Tail Rotor, APU), End User (OEM, Aftermarket), Aircraft Type (Civil, Military), Component (Gears, Housing, Bearing), Region - Global Forecast to 2025", is projected to grow from USD 3.3 billion in 2019 to USD 4.3 billion by 2025, at a CAGR of 4.8% during the forecast period. Increase in the procurement of new commercial and military aircraft is expected to be the primary factor driving the aircraft gearbox market.



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    The civil aircraft segment is projected to grow at the higher CAGR during the forecast period



    By aircraft type, the aircraft gearbox market has been segmented into civil aircraft and military aircraft. Among these, the civil aircraft segment is projected to grow at the highest CAGR during the forecast period. The civil aircraft segment has witnessed significant growth over the past few years, due to the increasing air traffic and rise in the disposable income of the middle-class population across the globe. Increasing demand for new aircraft around the world is also fueling the growth of the civil aircraft segment in aircraft gearbox market.



    The aftermarket end-user segment is projected to grow at the highest CAGR during the forecast period



    By end-user, the aircraft gearbox market has been segmented into OEM and aftermarket. The aftermarket segment is projected to grow at the highest CAGR during the forecast period. The growing commercial aircraft fleet is one of the driving factors of the aftermarket segment in aircraft gearbox market.



    North America is projected to lead the market for aircraft gearbox during the forecast period



    North America is estimated to account for the largest share of the aircraft gearbox market in 2019. Additionally, the market in North America is projected to capture the highest revenue share during the forecast period. The aviation & aerospace sector in the North American region is growing steadily, which has consequently created a significant demand for aircraft gearbox. The presence of major players, OEMs, and component manufacturers are some of the factors expected to boost the growth of the aircraft gearbox market in North America.



    Some of the major players in the aircraft gearbox market include Liebherr (Switzerland), Safran (France), United Technologies Corporation (US), SKF (Sweden), GE Aviation (US), and Triumph Group (US).



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    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



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