Global Market Insights, Inc. has added a new report on Aircraft Gearbox Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.
Stringent government regulations are playing a major role in boosting the aircraft gearbox market share over the projected timeframe. Most regulations are catered to the safety of aircrafts for ensuring the appropriate performance of gearbox during diversified operations. For instance, in 2014, the European Union Aviation Safety Agency (EASA) launched its helicopter gearbox lubrication rule to ensure that helicopters are airborne up to a certain range after loss of lubrication.
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Based on type, the aircraft gearbox market is categorized into reduction, actuation, accessory, auxiliary power unit, and tail rotor. The growth in the aircraft reduction gearbox can be attributed to the rising requirement for such gearboxes to control the engine rpm along with optimizing propeller rotation speed to maintain aircraft efficiency. Additionally, the usage of different types of gears including planetary, spur & pinion, and bevel planetary gear based on applications and requirements of the aircraft engines further accentuates the segment demand.
Asia Pacific aircraft gearbox market share will witness significant growth on account of growing air passenger travel across the region. Increasing aircraft deliveries along with expansion of flight network routes are further boosting the regional share. For instance, in March 2019, the region accounted for 53 commercial aircraft deliveries, thereby supporting the market share growth over the study timeframe.
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Based on aircraft, the aircraft gearbox market share can be segmented into commercial aircrafts, military, regional aircrafts, business jets, and helicopters. The growth in the helicopters can be credited to the benefits offered including vertical landing & take-off along with the capability to hover across certain areas. Moreover, the compact size of helicopters makes them ideal for specialized missions along with supporting emergency and relief operations.
Based on fit, the aircraft gearbox market share is classified into line fit & retrofit. The growth in the retrofit segment can be attributed to the increasing requirements for maintenance and replacements of gears over a certain timeframe. Stringent government regulations mandating MRO of aircrafts after certain flight cycle, thereby supporting the segment growth. Moreover, the continuous operations of gearbox over diversified operating environment contributes towards wear and tear, thereby accelerating the retrofit market size over the projected timeframe.
Aircraft Gearbox Market is poised to secure significant CAGR from 2019 to 2025 driven by development of lower weight aircrafts with geared turbofan (GFT) technologies. Rising aircraft production on account of proliferating tourism along with increasing disposable income are further expanding the market size.
Aircraft gearbox market participants are continuously investing in R&D for developing advanced and light weight gearboxes for developing fuel efficient aircrafts with a focus on reducing carbon emissions. For instance, in 2014, Safran showcased its advanced Integrated Generator Gearbox (IGGB) transmission with advanced power generation combined with integrated starter-generator capabilities, thereby reducing fuel consumption significantly.
Few of the major players operating in the aircraft gearbox market share include Aero gearbox International, CEF industries, LLC, The Boeing group, The Liebherr group, North star aerospace, and Safran S.A. Industry players are engaged in strategic mergers and acquisitions for improving their market share.
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