The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global aircraft gearbox market has witnessed a commendable growth trajectory, expanding from $2.97 billion in 2022 to $3.22 billion in 2023, marking a notable compound annual growth rate (CAGR) of 8.4%. As the aviation industry continues to soar, the market size is anticipated to reach $4.24 billion by 2027 at a CAGR of 7.1%. This blog navigates through the key drivers propelling this growth and the technological advancements shaping the aircraft gearbox landscape.

• Market Growth Metrics:
  • 2022: $2.97 billion
  • 2023: $3.22 billion (CAGR: 8.4%)
  • Projected 2027: $4.24 billion (CAGR: 7.1%)

Sky’s the Limit: Air Traffic Surge Fuels Demand
The surge in air traffic emerges as a pivotal factor propelling the growth of aircraft gearboxes. The increase in air traffic encompasses a rise in the number of people traveling by air, heightened international tourism, and an augmented demand for commercial aircraft deliveries. This surge, attributed to population growth and economic expansion, has led to an increased demand for aircraft engines and parts, subsequently driving the demand for aircraft gearboxes. In March 2022, global air traffic recorded a remarkable 76.0% increase compared to the same month in 2021, with Asia-Pacific outpacing the trend with a staggering 197.1% increase.

• Air Traffic Surge:
  • Increase in people traveling by air.
  • Rise in international tourism.
  • Growing demand for commercial aircraft.
• IATA Statistics:
  • March 2022 global air traffic increased by 76.0%.
  • Asia-Pacific recorded a 197.1% increase in March 2022 compared to March 2021.

Industry Titans: Major Players Shaping the Market
Key players steering the dynamics of the aircraft gearbox market include Liebherr, Safran S.A., Triumph Group, Aero Gear, CEF Industries, United Technologies Corporation, GE Aviation, Northstar Aerospace, Rexnord Aerospace, The Timken Company, AB SKF, PBS Velka Bites, Avion Corporation, The Boeing group, and Rolls-Royce. These industry giants play a crucial role in driving innovation and technological advancements in the field.

• Major Market Players:
  • Liebherr
  • Safran S.A.
  • Triumph Group
  • Aero Gear
  • United Technologies Corporation

Technological Marvels: Advancements in Aircraft Gearboxes
Technological advancement stands out as a key trend gaining prominence in the aircraft gearbox market. Major companies are prioritizing research and development to introduce cutting-edge aircraft gearboxes, gaining a competitive edge. Rolls-Royce, a UK-based aerospace company, exemplifies this trend with the development of UltraFan, the world’s largest aero-engine. This groundbreaking engine includes a 50MW Power Gearbox, designed for sustainable air travel. This powerful and efficient gearbox, currently under development in Dahlewitz, Germany, has the capacity to run 500 family cars.

• Technological Advancements:
  • Rolls-Royce’s UltraFan and 50MW Power Gearbox.
  • Efficient gearbox designed for sustainable air travel.
  • Focus on research and development for competitive advantage.

Market Dynamics: Segmentation and Regional Insights
The global aircraft gearbox market is segmented based on components (gear, housing, bearings, other components), aircraft type (civil aviation, military aviation), fit (retrofit, linefit), gearbox type (accessory, actuation, reduction, tail rotor, auxiliary power unit, other gearbox types), and application (engine, airframe). In 2022, North America emerged as the largest region in the aircraft gearbox market, with Asia-Pacific expected to be the fastest-growing region in the forecast period.

• Market Segmentation:
  • Components: Gear, housing, bearings, other components.
  • Aircraft Type: Civil aviation, military aviation.
  • Fit: Retrofit, linefit.
  • Gearbox Type: Accessory, actuation, reduction, tail rotor, auxiliary power unit, other types.
  • Application: Engine, airframe.
• Regional Insights:
  • North America: Largest region in 2022.
  • Asia-Pacific: Expected to be the fastest-growing region.

View More On The Aircraft Gearbox Market Report 2023 – https://www.thebusinessresearchcompany.com/report/aircraft-gearbox-global-market-report

Request A Sample Of The Global Aircraft Gearbox Market Report 2023:
https://www.thebusinessresearchcompany.com/sample_request?id=7718&type=smp

The Aircraft Gearbox Global Market Report 2023  provides comprehensive insights on the aircraft gearbox market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the aircraft gearbox market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Aircraft Electric Motor Global Market Report 2023
Aircraft Electrification Global Market Report 2023
EVTOL Aircraft Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model