According to the latest report published by Variant Market Research, the global aircraft gearbox market size is projected to reach $6.24 billion by 2025. In this report, aircraft gearboxmarket forecast says that the global market is 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. Accessory gearbox (AGB), APU-gearbox, reduction gearbox (RGB), actuation gearbox, and tail rotor gearbox are the various types of gearbox used in aircrafts. Increasing passenger traffic in developing countries, such as India and China has led the demand for lightweight & fuel-efficient aircraft engines. This increase the advancement of fuel efficient aircraft engines with gearboxes, which is expected to drive the aircraft gearbox market over the forecasted period.
Aircraft Gearbox Market (By gearbox type: Accessory Gearbox (AGB), Reduction Gearbox (RGB), APU-Gearbox, Actuation Gearbox, Tail Rotor Gearbox, and Other Gearbox Types; By Fit: Linefit and Retrofit; By Aircraft Type: Civil Aircraft and Military Aircraft; By Application: Engine and Airframe; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Rising demand for new aircraftdrives 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.
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.
By geography, global aircraft gearbox market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Linefit, by fit projected to gain the fastest CAGR between 2017 and 2025
On the basis of fit, linefit segment is expected to achieve the fastest CAGR during the forecast period. The growth of this segment is driven by the growth in aircraft orders & deliveries, growth in passenger traffic, as well as economic growth across regions.
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, owing to growing air passenger traffic as well as improvement in economic conditions in the region. Growing air passenger traffic has led to the improved demand for new lightweight as well as fuel-efficient aircraft from the region.
Key players are offering innovative products and services to increase their aircraft gearbox market share. Main players competing 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.