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Aircraft Gearbox Market Share

Report ID: GMI3295
Published Date: Jun 2024
Report Format: PDF

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Aircraft Gearbox Market Share

Aircraft gearbox industry seem to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such as Rolls-Royce plc, Safran S.A., Honeywell International Inc., General Electric Company, RTX Corporation, Aero Gearbox International, Park Ohio Holdings Corp. and Mitsubishi Heavy Industries Ltd. collectively held around 30%-35% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Aircraft Gearbox Market Companies

Major players operating in the aircraft gearbox industry are:

Aero Gear Inc.
Aero Gearbox International
Ametek, Inc.
Avio Aero
General Electric Company
Honeywell International Inc.
Liebherr Group
Mitsubishi Heavy Industries Ltd.
Northstar Aerospace
Park Ohio Holdings Corp.
Rolls-Royce plc
RTX Corporation
Safran S.A.
SKF Group
The Timken Company

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Industry size for aircraft gearbox was worth USD 3.3 billion in 2023 and is projected to expand at 6.5% CAGR from 2024 to 2032, due to the rising global demand for air travel.

The accessory gearbox type segment in the aircraft gearbox industry accounted for USD 1 billion in revenue in 2023 and is estimated to depict robust CAGR between 2024 and 2032, owing to the rising production of commercial and military aircraft.

The aircraft gears component segment in the aircraft gearbox industry accounted for 41% share in 2023 on account of the increasing focus of the aviation sector to improve fuel efficiency and performance.

North America market size recorded USD 800 million in 2023 and is estimated to expand at notable rate from 2024 to 2032, led by the high demand for air travel in the region.