Aircraft Gearbox Market Projected to reach $4.2 billion by 2028

The global aircraft gearboxes market size is projected to grow from USD 3.0 billion in 2023 to USD 4.2 billion by 2028, at a CAGR of 6.9% from 2023 to 2028. The aircraft gearbox market plays a vital role in aviation, ensuring efficient power distribution and precise mechanical operation, encompassing accessory, reduction, and actuation gearboxes. Technological advancements, demand for fuel efficiency, and safety regulations are driving the aircraft gearbox market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=241445553

Based on Application, the aircraft gearbox market has been segmented into engine and airframe segment. The engine segment is expected to lead the aircraft gearbox market due to the increasing demand for powerful and fuel-efficient engines, as well as the rising focus on enhancing aircraft performance and reducing maintenance costs. Engine gearboxes play a crucial role in transmitting power from the engine to other aircraft components, driving the prominence of this segment in the market.

Based on Gearbox Type, the market has been segmented into accessory gearboxes, reduction gearboxes, actuation gearboxes, tail rotor gearboxes, auxiliary power unit gearboxes, and others. The dominance of the accessory gearbox type is attributed to the significant role it plays in powering various aircraft accessories, including pumps, generators, and other crucial components. As the demand for advanced and more efficient accessory systems increases, the market for accessory gearboxes is expected to witness substantial growth during the forecast period.

Based on the Component, the market has been segmented into gear, housing, bearings, and others. The leading position of the gear sub-segment in the aircraft gearbox market is primarily due to the indispensable nature of gears in facilitating power transmission and ensuring the precise functioning of various aircraft components. The continuous advancements in gear technologies, focusing on durability, efficiency, and weight reduction, are expected to drive the growth of this segment in the market.

Based on Platform, the market has been segmented into civil and military aircraft. The civil aircraft segment is expected to lead the market during the forecast period. The anticipated higher CAGR rate of the civil aircraft segment is primarily due to the surge in air passenger traffic, leading to increased demand for new commercial aircraft globally. Additionally, the rapid expansion of the commercial aviation sector, coupled with the continuous efforts of airlines to modernize their fleets with more fuel-efficient and technologically advanced aircraft, is expected to drive the growth of the civil aircraft segment in the aircraft gearbox market.

Based on the end use, the OEM segment is projected to dominate the aircraft gearbox market, driven by the increasing demand for new aircraft across various regions and the constant efforts of OEMs to integrate advanced gearbox technologies into their new aircraft models. The emphasis on incorporating lightweight, durable, and technologically advanced gearboxes to improve overall aircraft performance is expected to further boost the growth of this segment.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=241445553

Based on the region, the projected higher market share of North America in the aircraft gearbox market is attributed to the presence of major aircraft manufacturers, technological advancements, and a strong focus on research and development activities within the region. Additionally, the well-established aviation infrastructure, stringent safety regulations, and the presence of key market players are expected to contribute to the region's dominant position in the aircraft gearbox market during the forecast period.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.