The robust growth fundamental of Aircraft Gearbox Market

The robust growth fundamental of Aircraft Gearbox Market

“The Global Aircraft Gearbox Market”
The robust fundamentals of the Aircraft industry at present paint a favourable picture of the Aircraft Gearbox Market. Stratview Research triangulates the growth of aircraft gearbox market at an impressive 5.9% for the next five years (2019-2024).

Gearboxes are an integral part of an aircraft and deliver the necessary thrust required during takeoff and landing. The gearbox is also used to power a number of things. In the turboprops, the gearbox is used for reducing the engine output speed before turning the propeller. Turbofan engines have a gearbox, for running the accessories and many more things. 

Stratview Research after looking into every facet of the market, expects the market to grow at an impressive CAGR of 5.9% during five years 2019-2024.

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There are various types of gearboxes. Stratview Research has segmented the market as Accessory Gearbox, Reduction Gearbox, Actuation Gearbox, Tail Rotor Gearbox, Auxiliary Power Unit Gearbox, and others. The accessory gearbox segment is expected to witness the highest growth during the forecast period, propelled by advancements in the technology and increasing commercial aircraft deliveries.

Each type of gearbox is important and does a specific function, for instance, the reduction gearbox is necessary to limit the propeller rotation speed to a value at which efficient operation is obtained. The tail rotor gearbox has the purpose of providing a 90-degree change in the direction of drive. The rapidly increasing air traffic has driven the demand for aircraft which has consequently led to the demand Linefit segment of the aircraft gearbox market.

 Aero Gearbox International is the market leader, with other major companies like CEF Industries, LLC, The Liebherr Group, Northstar Aerospace, Inc., Safran S.A., AB SKF, and United Technologies Corporation occupying the top positions of the market. The market has intense competition and can witness rapid changes. 

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Asia-Pacific is likely to witness the highest growth over the next five years, primarily propelled by China, Japan, and India. China and Japan are likely to remain the major markets in the region, whereas India is going to be the fastest-growing market.

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As efficiency concerns mount on the airlines, along with unceasing regulatory pressure, the airlines search for everything that can help them be more profitable. Gearboxes one of the major component and new architecture as well as new materials are being developed to deliver greater power. Please subscribe to the full report to know in greater detail.

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