Aircraft Gearbox Market - By Type (Accessory Gearbox, Reduction Gearbox, Actuation Gearbox, Tail Rotor Gearbox, Auxiliary Power Unit Gearbox, Others), By Component, By Application, By End-use, By Distribution Channel & Forecast, 2024 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format

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Aircraft Gearbox Market - By Type (Accessory Gearbox, Reduction Gearbox, Actuation Gearbox, Tail Rotor Gearbox, Auxiliary Power Unit Gearbox, Others), By Component, By Application, By End-use, By Distribution Channel & Forecast, 2024 - 2032

Aircraft Gearbox Market Size

Aircraft Gearbox Market was valued at USD 3.3 billion in 2023 and is estimated to grow at a CAGR of 6.5% during the forecast period. The rising global demand for air travel is one of the primary drivers of the market. Increasing passenger traffic leads to higher demand for new aircraft, which in turn drives the need for reliable and efficient aircraft gearboxes. According to the International Air Transport Association (IATA), global air traffic is expected to continue growing, necessitating the expansion of airline fleets.

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Planes are getting bigger and better to fit more people and save on fuel. That means we need more advanced gearboxes that can handle the load. Governments are also spending more on their air forces, buying fighter jets, transport planes, and helicopters. These planes need strong and dependable gearboxes to keep them flying safely and on time. Countries are worried about being ready for a fight, so they're investing heavily in improving their air power. As planes get older, they need more maintenance, repairs, and overhauls. That means we need more parts, like gearboxes, to keep them in the air. Regular check-ups help planes stay in good shape and flying longer, which means even more demand for gearboxes and upgrades.

Aircraft Gearbox Market Report Attributes
Report Attribute Details
Base Year 2023
Aircraft Gearbox Market Size in 2023 USD 3.3 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 6.5%
2032 Value Projection USD 5.9 Billion
Historical Data for 2021 - 2023
No. of Pages 487
Tables, Charts & Figures 428
Segments covered Type, Component, Application, End-use, Distribution Channel, Region
Growth Drivers
  • Increasing air traffic
  • Technological advancements
  • Increasing military expenditure and spending
  • Growing urban air mobility services
Pitfalls & Challenges
  • High development and production costs
  • Regulatory compliance

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Aircraft gearboxes are complex components that require precision manufacturing. The high level of precision needed, along with the use of advanced materials, results in increased production costs. Additionally, the need for specialized machinery and skilled labor adds to these costs. Aircraft gearboxes must comply with rigorous regulatory standards set by aviation authorities such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA). The certification process is lengthy and costly, requiring extensive testing and validation to ensure safety and reliability.

Aircraft Gearbox Market Trends

Aircraft manufacturers are turning to lightweight materials like titanium and composites to make their gearboxes lighter, which helps airplanes use less fuel and emit fewer pollutants. They're also using new lubricants that can handle extreme temperatures and pressures, which makes the gearboxes last longer and work better. Engineers are also working on making gear systems more efficient, which can save even more fuel and meet environmental regulations. The need for gearbox maintenance, repair, and overhaul is growing as more planes are flying and the existing ones get older. Companies are offering complete MRO services to keep gearboxes going strong for longer. Air travel is taking off in places like China and India, where there's a lot of money being put into airports and planes. This means more gearboxes are needed, giving manufacturers a whole new market to explore.

Aircraft Gearbox Market Analysis

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Let's break down the types of gearboxes found in the marketthere's accessory gearbox, reduction gearbox, actuation gearbox, tail rotor gearbox, auxiliary power unit gearbox, and more. Out of all these, the accessory gearbox is the biggest player, with a market worth $1 billion in 2023. It's expected to climb to a whopping $1.9 billion by 2032. Why the surge in demand for accessory gearboxes? It's all thanks to the growing number of commercial and military aircraft being built. With more planes in the sky, there's a greater need for reliable gearboxes to run essential parts like generators, fuel pumps, and hydraulic pumps. Modern aircraft are packed with fancy electronics and systems that demand a steady flow of power. Accessory gearboxes make sure these systems run smoothly, which is why they're in such high demand. And let's not forget about maintenance and upgrades. As airlines and military operators keep their fleets running, they need high-quality replacement parts. This also boosts the demand for accessory gearboxes.

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Based on component, the market is categorized into gears, housing, bearings and others. In 2023, rubber toys held the dominant market share of 41% and is anticipated to grow through the years. Innovations in gear design and manufacturing techniques are driving demand. Advanced materials and precision engineering result in gears that are more durable, efficient, and capable of handling higher loads and speeds. This improves the overall performance of aircraft gearboxes. The aviation industry's focus on enhancing fuel efficiency and performance is a significant driver. High-performance gears contribute to more efficient power transmission, reducing fuel consumption and emissions. This is particularly important as airlines and manufacturers strive to meet stringent environmental regulations.

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North America held a market of around USD 800 million in 2023 and is expected to reach USD 1.6 billion by 2032. Major airlines in North America are expanding their fleets to meet the growing demand for air travel. This expansion includes both new aircraft purchases and the replacement of older models, leading to increased demand for gearboxes. North America has a robust MRO (maintenance, repair, overhaul) market, which supports the maintenance and repair of both commercial and military aircraft. The need for high-quality replacement parts and regular maintenance drives consistent demand for aircraft gearboxes.

The market in U.S. is set to grow through a CAGR of 6.9% through the forecast time period. The U.S. maintains one of the highest defense budgets globally, with significant allocations for the development, production, and maintenance of military aircraft. This includes fighters, bombers, helicopters, and unmanned aerial vehicles (UAVs), all of which require sophisticated gearbox systems. The U.S. military continuously invests in the modernization of its aircraft fleet. Programs aimed at upgrading avionics, engines, and other critical components often involve replacing or enhancing existing gearboxes to improve performance and reliability.

The German Aircraft Gearbox market maintained a considerable position in Europe. Germany is home to major aerospace companies such as Airbus, MTU Aero Engines, and Liebherr-Aerospace. These companies drive significant demand for aircraft components, including gearboxes, as they manufacture and assemble a variety of commercial and military aircraft. Germany’s commitment to modernizing its military capabilities, including the development and procurement of advanced military aircraft, drives demand for sophisticated gearbox systems. Programs aimed at upgrading existing military aircraft also contribute to this demand.

China is supposed to grow at the highest rate of 7.6% in the region. China is one of the fastest-growing aviation markets in the world. The rapid growth in air travel demand is leading to the expansion of airline fleets, which increases the demand for new aircraft and their components, including gearboxes. China is investing heavily in the development of its own commercial aircraft, such as the COMAC C919 and ARJ21. The production of these aircraft requires reliable and high-performance gearbox systems, driving demand in the market.

Aircraft Gearbox Market Share

Aircraft gearbox industry seem to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such as Rolls-Royce plc, Safran S.A., Honeywell International Inc., General Electric Company, RTX Corporation, Aero Gearbox International, Park Ohio Holdings Corp. and Mitsubishi Heavy Industries Ltd. collectively held around 30%-35% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Aircraft Gearbox Market Companies

Major players operating in the aircraft gearbox industry are

  • Aero Gear Inc.
  • Aero Gearbox International
  • Ametek, Inc.
  • Avio Aero
  • General Electric Company
  • Honeywell International Inc.
  • Liebherr Group
  • Mitsubishi Heavy Industries Ltd.
  • Northstar Aerospace
  • Park Ohio Holdings Corp.
  • Rolls-Royce plc
  • RTX Corporation
  • Safran S.A.
  • SKF Group
  • The Timken Company

Aircraft Gearbox Industry News

  • In September 2023, India based Skanda Aerospace Technology (SATPL), a partnership between Raghu Vamsi Machine Tools in India, and Rave Gears LLC in Texas, USA, opened its first advanced gear and gear boxes manufacturing facility.
     
  • In 2023, Triumph Group secured a long-term contract with General Electric (GE) for the Inlet Gearboxes (IGB) concerning LEAP-1A, LEAP-1B, and LEAP-1C programs. The contract encompasses production at the Triumph Geared Solutions facility in Macomb, Michigan. With a partnership spanning over 35 years and over 25,000 gearboxes delivered to date, this extension underscores Triumph’s commitment to supplying thousands of IGBs annually to GE well into the next decade.
     

The aircraft gearbox market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion)(Thousand Units) from 2021 to 2032, for the following segments

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Market, By Type

  • Accessory Gearbox
  • Reduction Gearbox
  • Actuation Gearbox
  • Tail Rotor Gearbox
  • Auxiliary Power Unit Gearbox
  • Others

Market, By Component

  • Gears
  • Housing
  • Bearings
  • Others

Market, By Application

  • Engine
  • Airframe

Market, By Engine

  • Civil Aircraft
  • Military Aircraft

Market, By Distribution Channel

  • OEM
  • Aftermarket

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definitions

1.2    Base estimates & calculations

1.3    Forecast calculations

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021-2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factor affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Disruptions

3.1.4    Future outlook

3.1.5    Manufacturers

3.1.6    Distributors

3.2    Supplier landscape

3.3    Profit margin analysis

3.4    Technological overview

3.5    Key news & initiatives

3.6    Regulatory landscape

3.7    Impact forces

3.7.1    Growth drivers

3.7.1.1    Increasing air traffic

3.7.1.2    Technological advancements

3.7.1.3    Increasing military expenditure and spending

3.7.1.4    Growing urban air mobility services

3.7.2    Industry pitfalls & challenges

3.7.2.1    High development and production costs

3.7.2.2    Regulatory compliance

3.8    Growth potential analysis

3.9    Porter’s analysis

3.10    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Type, 2021-2032 (USD Billion) (Thousand Units)

5.1    Key trends

5.2    Accessory gearbox

5.3    Reduction gearbox

5.4    Actuation gearbox

5.5    Tail rotor gearbox

5.6    Auxiliary power unit gearbox

5.7    Others

Chapter 6   Market Estimates & Forecast, By Component, 2021-2032 (USD Billion) (Thousand Units)

6.1    Key trends

6.2    Gears

6.3    Housing

6.4    Bearings

6.5    Others

Chapter 7   Market Estimates & Forecast, By Application, 2021-2032 (USD Billion) (Thousand Units)

7.1    Key trends

7.2    Engine

7.3    Airframe

Chapter 8   Market Estimates & Forecast, By End-use, 2021-2032 (USD Billion) (Thousand Units)

8.1    Key trends

8.2    Civil aircraft

8.3    Military aircraft

Chapter 9   Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion) (Thousand Units)

9.1    Key trends

9.2    OEM

9.3    Aftermarket

Chapter 10   Market Estimates & Forecast, By Region, 2021-2032 (USD Billion) (Thousand Units)

10.1    Key trends

10.2    North America

10.2.1   U.S.

10.2.2   Canada

10.3    Europe

10.3.1   UK

10.3.2   Germany

10.3.3   France

10.3.4   Italy

10.3.5   Spain

10.3.6   Russia

10.3.7   Rest of Europe

10.4    Asia Pacific

10.4.1   China

10.4.2   India

10.4.3   Japan

10.4.4   South Korea

10.4.5   Australia

10.4.6   Rest of Asia Pacific

10.5    Latin America

10.5.1   Brazil

10.5.2   Mexico

10.5.3   Rest of Latin America

10.6    MEA

10.6.1   South Africa

10.6.2   Saudi Arabia

10.6.3   UAE

10.6.4   Rest of MEA

Chapter 11   Company Profiles

11.1    Aero Gear Inc.

11.2    Aero Gearbox International

11.3    Ametek, Inc.

11.4    Avio Aero

11.5    General Electric Company

11.6    Honeywell International Inc.

11.7    Liebherr Group

11.8    Mitsubishi Heavy Industries Ltd.

11.9    Northstar Aerospace

11.10    Park Ohio Holdings Corp.

11.11    Rolls-Royce plc

11.12    RTX Corporation

11.13    Safran S.A.

11.14    SKF Group

11.15    The Timken Company

  • Aero Gear Inc.
  • Aero Gearbox International
  • Ametek, Inc.
  • Avio Aero
  • General Electric Company
  • Honeywell International Inc.
  • Liebherr Group
  • Mitsubishi Heavy Industries Ltd.
  • Northstar Aerospace
  • Park Ohio Holdings Corp.
  • Rolls-Royce plc
  • RTX Corporation
  • Safran S.A.
  • SKF Group
  • The Timken Company

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