Aircraft Gearbox Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Aircraft Gearbox Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 16, 2024 /EINPresswire.com/ -- The aircraft gearbox market has experienced robust growth in recent years, expanding from $3.21 billion in 2023 to $3.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the rise in air traffic, the increased commercial aircraft deliveries, and the investments in geared turbofan engines.

Strong Future Growth Anticipated
The aircraft gearbox market is projected to grow strongly, reaching $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to the increase in demand for military helicopters, the increasing aircraft fleet size, and the increasing research and development efforts.

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Growth Driver Of The Aircraft Gearbox Market
An increase in air traffic is expected to propel the growth of the aircraft gearbox market. An increase in air traffic refers to an increase in the number of people travelling by air, an increase in international tourism, and an increase in the demand for commercial aircraft for delivery. The rise in aviation traffic due to population and economic expansion has led to an increase in the demand for aircraft engines and parts, which drives the demand for the aircraft gearbox market.

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Major Players And Market Trends
Key players in the aircraft gearbox market include Safran, Triumph Group, Liebherr, The Boeing Group, General Electric, Rexnord Corporation, Rolls-Royce PLC, Aero Gear, SKF, Northstar Aerospace, Airnetz Aviation Pvt Ltd., Aroon Aviation Services Pvt Ltd., BAE Systems India Services Pvt Ltd., Bharat Dynamics Ltd., Bharat Electronics Ltd., BrahMos Aerospace Pvt Ltd., GE India, Nabtesco Corporation, Airbus SE, Harbin Aircraft Industry Group.
Technological advancement is a key trend gaining popularity in the aircraft gearbox market. Major companies in the aircraft gearbox market are focusing on research and developments to introduce technologically advanced aircraft gearboxes to gain a competitive advantage in the market.

Segments:
1) By Component: Gear, Housing, Bearings, Other Components
2) By Aircraft Type: Civil Aviation, Military Aviation
3) By Fit: Retrofit, Linefit
4) By Gearbox Type: Accessory, Actuation, Reduction, Tail Rotor, Auxiliary Power Unit, Other Gearbox Types
5) By Application: Engine, Airframe

Geographical Insights: North America Leading The Market
North America was the largest region in the aircraft gearbox market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of aircraft gearbox.

Aircraft Gearbox Market Definition
The aircraft gearbox is the most important part of the transmission system of aircraft for varying rotational speeds and is essential to a functioning engine. Shafts connect the gearbox, and the internal arrangement of a gearbox determines the output torque and speed. The aircraft gearbox is used to increase output torque or to vary the speed (RPM) of a motor. An aircraft gearbox refers to a gearbox as a contained gear train, which is a mechanical part made up of several integrated gears housed in a housing.

Aircraft Gearbox Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aircraft Gearbox Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aircraft gearbox market size, aircraft gearbox market drivers and trends, aircraft gearbox market major players, aircraft gearbox competitors' revenues, aircraft gearbox market positioning, and aircraft gearbox market growth across geographies. The aircraft gearbox market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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