Aircraft Gearbox Market Size Worth $7.86 Billion by 2032 | CAGR: 7% by The Brainy Insights
The global aircraft gearbox market size is anticipated to grow from USD 4 billion to USD 7.86 billion in 10 years. The market will experience rapid growth due to the growing demand for fuel efficient technologies in the aviation industry during the forecast period.
Newark, Jan. 18, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4 billion in 2022 global aircraft gearbox market will reach USD 7.86 billion in 2032. An aircraft’s gearboxes are essential parts of its gearbox system. They maximize the power produced by aeroplane motors. By controlling engine speed, they guarantee that the propulsion systems and their specifications are met. They hire various mechanics to increase an aircraft’s operating efficiency throughout its flight. They are necessary for an aircraft to operate smoothly, particularly during takeoff, climb, cruise, and descent. They protect other parts from possible harm while adapting to various flying circumstances. Improved performance and increased fuel efficiency are two advantages of aeroplane gears. Aircraft gears provide another aid in reducing noise and vibration. Higher operational effectiveness and improved passenger comfort are made possible by these advantages.
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Key Insight of the Global Aircraft Gearbox Market
North America will dominate the market during the forecast period.
Regarding innovation in aviation, America has led the world for military and commercial aircraft. The market will expand due to rising military spending, technical advancements, and the increased presence of important industry participants. An increased emphasis on eco-friendly propulsion technologies will further support the expansion and development of the market.
In 2022, the turbofan segment dominated the market with the largest market share of 37% and market revenue of 1.48 billion.
The application segment is divided into turbofan, turboprop, turboshaft, turbojet, and piston engine. In 2022, the turbofan segment dominated the market with the largest market share of 37% and market revenue of 1.48 billion.
In 2022, the reduction gearbox segment dominated the market with the largest market share of 34% and market revenue of 1.36 billion.
The gearbox type segment is divided into accessory gearbox, reduction gearbox, tail rotor gearbox, actuator gearbox, auxiliary power unit (APU) gearbox, and others. In 2022, the reduction gearbox segment dominated the market with the largest market share of 34% and market revenue of 1.36 billion.
In 2022, the commercial aircraft segment dominated the market with the largest market share of 45% and market revenue of 1.80 billion.
The aircraft type segment is divided into commercial aircraft, military aircraft and general aviation aircraft. In 2022, the commercial aircraft segment dominated the market with the largest market share of 45% and market revenue of 1.80 billion.
In 2022, the OEMs segment dominated the market with the largest market share of 49% and market revenue of 1.96 billion.
The end-user segment is divided into OEMs, airline operators, MROs and others. In 2022, the OEMs segment dominated the market with the largest market share of 49% and market revenue of 1.96 billion.
Advancement in market
The Light Combat Aircraft Tejas completed a flying test of its power takeoff (PTO) shaft in Bengaluru. The power takeoff or PTO shaft is an essential piece of machinery that transfers power from the aircraft engine to the gearbox. By implementing sophisticated high-speed rotor technology—a feat that only a few other nations have accomplished—the DRDO has accomplished a more significant technological achievement with this successful test. The Combat Vehicles Research and Development Establishment of the Defence Research and Development Organisation (DRDO) in Chennai is responsible for the design and development of the PTO shaft.
Report Attribute Details
|Revenue forecast in 2022
|USD 4 Billion
|Market size value in 2032
|USD 7.86 Billion
|Expected CAGR Growth
|2023 – 2032
|Top Market Players
|Aero Gear, Avion Technologies Inc., Boeing, General Electric, NorthStar Aerospace, PBS Group, Regal Rexnord, Rolls-Royce plc, Safran, Triumph Group
|Application, Gearbox Type, Aircraft Type and End User
|Customized purchase options are available to meet any research needs. Explore customized purchase options
Driver: The aviation industry’s rapid expansion.
A growing number of people have chosen aviation careers due to shifting economic, technological, and demographic conditions. The demand for air travel is rising due to increased urbanization and disposable money, particularly in emerging nations. Furthermore, improvements in fuel economy and efficiency brought about by technical breakthroughs are growing the aviation market and its global applicability. Modernizing fleets is a priority for the military and defence industries, which will increase demand for sophisticated gearbox technology. In response to these growing needs, aircraft manufacturers provide sophisticated, cutting-edge, and dependable gearbox systems. Therefore, the expansion of the worldwide aircraft gearbox market will be driven by the rising aviation industry.
Restraints: The expensive expenditures of acquisition, production, and upkeep.
A large amount of engineering work and costly, time-consuming certification procedures are involved in the design and development of aircraft gearboxes. The use of advanced materials in aircraft gears raises the price even more. Modern gearbox integration requires modifications to aviation systems, which incur additional expenses. The maintenance cost is rising due to wear and tear, component replacements, and routine inspections. Therefore, the high acquisition and maintenance costs would hamper the market’s expansion.
Opportunities: the growing importance of sustainable practices.
Complex and advanced Technologies for aircraft gearboxes promote sustainability and allow the aviation sector to support a more environmentally friendly economy. They increase total fuel efficiency by optimizing engine performance. Modern propulsion systems contribute to efficiency gains and lower emissions. Aircraft operation can be made quieter and more ecologically friendly by utilizing gearbox technology to reduce noise and dampen vibrations. Additionally, gearboxes support the industry’s investigation of greener technologies by facilitating the integration of electric and hybrid propulsion systems. These developments will present the market with profitable growth prospects throughout the projection period.
Challenges: Integration challenges.
Integrating gearboxes can be difficult, given the spatial constraints. Also, the reliability of gearboxes is called into question after aviation accidents. Careful consideration must be given to the design of the aircraft before integrating the gearboxes, and this is tricky. For instance, the added weight of gearboxes requires structural considerations; failing to do so can affect the aircraft’s balance. Reliability concerns are questioned, given the inherent risks of mechanical failures and raising safety considerations. Therefore, integration’s structural and reliability concerns will challenge the market’s growth.
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Some of the major players operating in the global aircraft gearbox market are:
• Aero Gear
• Avion Technologies Inc.
• General Electric
• Northstar Aerospace
• PBS Group
• Regal Rexnord
• Rolls-Royce plc
• Triumph Group
Key Segments covered in the market:
• Piston Engine
By Gearbox Type
• Accessory Gearbox
• Reduction Gearbox
• Tail Rotor Gearbox
• Actuator Gearbox
• Auxiliary Power Unit (APU) Gearbox
By Aircraft Type
• Commercial Aircraft
• Military Aircraft
• General Aviation Aircraft
By End User
• Airline Operators
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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