Market Overview:

The Aircraft Gearbox Market size is estimated to reach  $5.2 billion by 2030, growing at a CAGR of 7.6%during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled “Aircraft Gearbox Market -  By Gearbox Type (Accessory Gearbox (AGB), Reduction Gearbox (RGB), Actuation Gearbox, Auxiliary Power Unit (APU) Gearbox, Tail Rotor Gearbox), By Power Rating (Up to 500 kW, 500 - 1500 kW, 1500 - 3000 kW, Above 3000 kW), By Material Type (Aluminum Alloys, Steel, Titanium Alloys, Composites), By Aircraft Type (Commercial Aircraft, Military Aircraft, Helicopters, General Aviation, Business Jets), By Application (Turbofan Engines, Turboprop Engines, Helicopters, Tiltrotor Aircraft, Other), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.

The global aviation industry is growing rapidly due to increasing air passenger traffic and demand for new aircraft. The hunt for fuel efficiency and light weight has spurred innovation in gearbox materials and technologies and innovated hybrid and electric propulsion systems. Besides, the growing use of helicopters and UAVs, combined with the wider need for aftermarket maintenance, further fuels strong and continued growth of the aircraft gearbox market.

North America dominates the market in 2023:

North America holds a dominant position in the aircraft gearbox market, driven by several key factors. Firstly, the region boasts a strong presence of leading aerospace manufacturers and suppliers, such as Boeing and General Electric, renowned for their innovation-driven production. Significant investments in research and development are continuously transforming gearbox technology, with a focus on enhancing performance and reliability. For example, Embraer plans to invest up to $70 million in new MRO facilities across the United States, including a new service center in Fort Worth, Texas. This proactive approach to new technologies and innovation ensures the region maintains a competitive advantage in the evolving aircraft gearbox market.

Aircraft Gearbox Market: Key Takeaways

Rise in air travel

The aircraft gearbox market is poised for significant expansion, fueled primarily by the increasing demand for air travel. As global economies strengthen and tourism flourishes, passenger air travel is experiencing consistent year-on-year growth. The International Air Transport Association (IATA)'s Global Outlook for Air Transport 2023 underscores this trend, reporting a staggering 40.1% year-over-year surge in passenger traffic through September 2023, reaching 92.9% of pre-pandemic levels. This rise in air travel directly translates into an increased demand for aircraft gearboxes. A growing number of passengers necessitates the expansion of airline fleets, consequently driving up the demand for various aircraft parts, including gearboxes. As critical components ensuring safe and comfortable air travel, gearboxes play an essential role in this ecosystem. With sustained economic growth and a resurgent travel spirit fueling the ever-expanding demand for air transportation leads to continuous growth in the aircraft gearbox market.

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Technological Advancements

Growth in the aircraft gearbox market is highly dependent on technological advancements. The growing interest of aircraft manufacturers in deploying hybrid and electrical propulsions requires gearboxes with unique designs to successfully transmit power from electric motors to propellers. It also allows for the integration of sensors and data analytics into the gearboxes for predictive maintenance, reducing downtime, hence further enhancing operational efficiency. Such technological developments support performance and reliability enhancement for aircraft gearboxes while opening new avenues within the market for manufacturers and suppliers. Innovation would therefore remain a key driver of growth within the aircraft gearbox market in emerging times within the aviation industry.

Scope of the Report: 

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

7.6%

Market Size in 2030

$5.2 Million


Segments Covered

By Gearbox Type, By Power Rating, By Material Type, By Aircraft Type, By Application and By Geography.





Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).





Key Market Players

1.  Safran SA

2.  Liebherr Aerospace

3.  Rexnord Aerospace

4.  Triumph Group

5.  Aero Gear

6.  GE Aviation

7.  PBS Group, a. s

8.  RTX

9.  Israel Aerospace Industries

10.  AAR Corp


Recent Developments:

• In October 2024, Toyota announced a significant investment of $500 million in Joby Aviation. This funding will support the certification and commercial production of Joby's innovative electric air taxi. As part of the investment agreement, Toyota and Joby plan to establish a manufacturing alliance for the initial phase of commercialization.

• In April 2024, Rolls-Royce commenced the flight test campaign for its newest aero engine, the Pearl 10X, designed for the business aviation industry. The tests are being conducted on the company’s specialized Boeing 747 flying testbed. Dassault, the French aircraft maker, has chosen the engine to be the only power source for its latest flagship aircraft, the Falcon 10X.

• In May 2023, Triumph Group awarded a long-term agreement from General Electric (GE) on the Inlet Gearboxes (IGB) for LEAP-1A, LEAP-1B and LEAP-1C programs. This extension is the result of TRIUMPH's investment in production capacity and the Macomb team's quality, schedule, and cost performance across a wide range of gear and gearbox applications on GE engines. 
Aircraft Gearbox Market: Competitive Landscape

Key companies profiled in the Aircraft Gearbox Market are Safran SA, Liebherr Aerospace, Rexnord Aerospace, Triumph Group, Aero Gear, GE Aviation, PBS Group, a. s, RTX, Israel Aerospace Industries, AAR Corp and others.
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