The global aircraft gearbox market size is expected to be worth USD 4.02 billion in 2024. It is expected to grow at a CAGR of 4.8% during the forecast period and reach a value of USD 5.09 billion by 2029.
Aircraft Gearbox defines a component that is responsible for the transmission system and helps to manipulate the rotational speed. In addition, planes have a gearbox for the special function of reducing the output speed of the engine before the propeller starts. The airplane gearbox can be of different types depending on the size of the airplane. Most jet engines are equipped with accessory transmission gearboxes that drive AC generators, hydraulic pumps, oil pumps, and other necessary accessories. If the engine has more than one compressor segment, the gearbox is driven by one of the compressor drive shafts. The gearbox uses a reduction gear to decrease the speed of the shaft between the two motors. Therefore, the gearbox works to connect the shafts and reduces the engine speed.
In addition, increased research and development investments for emerging advanced gearboxes create growth opportunities for the global aircraft gearboxes market. The turbofan engine contains a gearbox between the fan and the low-pressure shaft. In addition, the geared turbojet engine improves propulsion efficiency. Additionally, in 2016, Pratt & Whitney invested in geared turbofan technology that reduces fuel consumption, emissions, and noise. These investments are expected to provide opportunities for the growth of the global aircraft gearbox market in the future.
Increased use of aircraft gearboxes in the defense sector of developing countries, increased demand for geared turbofan aircraft engines with fan gearboxes such as Pratt & Whitney PW1000G, and the introduction of lightweight gearboxes are some of the factors driving growth in the global market for aircraft gearboxes. Investments in the R&D of open rotor motors and geared turbofans and the trend for fuel-efficient and environmentally friendly vehicles are supposed to provide lucrative opportunities for market expansion.
However, the limitations of high-altitude engines and the need for a high initial investment are hampering the market growth. The rising cost of the equipment is a crucial parameter that can restrain the growth of the global market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
4.8% |
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Segments Covered |
By Aircraft Type, Gearbox Type, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
AB SKF, BMT Aerospace, GE AVIO Srl (Avio Aero), Kawasaki Heavy Industries Ltd., Northstar Aerospace, Inc., Safran Transmission Systems, The Liebherr Group, The Timken Company, and United Technologies Corporation |
Commercial aircraft are likely to remain the growth engines of the aircraft gearbox market for the next five years, driven by increased aircraft deliveries to support increased passenger and freight traffic, the next variants of existing programs, and the growing size of the commercial aircraft fleet.
The accessory gearbox segment is foreseen to experience the highest growth during the forecast period, driven by advances in technology and increased commercial aircraft deliveries.
The engine segment is expected to see further growth over the outlook period, as gearboxes are an integral part of an aircraft engine and provide the thrust required for take-off and landing. Among the engine segments, turbofan will likely remain the largest and fastest-growing segment for the next five years due to the greater dominance of commercial and regional aircraft.
In terms of regions, North America is foreseen to dominate the global aircraft gearbox market for the next five years as the region is the manufacturing capital of the aerospace industry with the presence of numerous OEMs, gearbox suppliers, engine makers, distributors, and component providers. The United States will continue to drive demand for aircraft transmissions in the region for the next five years. Boeing, Bombardier, Lockheed Martin, and Gulfstream are the main aircraft manufacturers, generating strong demand for gearboxes for their locally assembled aircraft. The opening of assembly plants for the Airbus A320 aircraft program in the United States is further ensuring healthy demand for aircraft gearboxes in the region.
Some of the major players in the global aircraft gearbox market are AB SKF, BMT Aerospace, GE AVIO Srl (Avio Aero), Kawasaki Heavy Industries Ltd., Northstar Aerospace, Inc., Safran Transmission Systems, The Liebherr Group, The Timken Company, and United Technologies Corporation.
In June 2019, Collins Aerospace Systems accepted a contract from Saab Automobile AB for the supply of power and control systems for the Boeing TX trainer, such as the auxiliary engine control unit (APECU) and the drive shaft power take-off (PTO) of the aircraft.
In October 2018, Liebherr received a contract from Boeing Commercial Airplanes for the supply of electronic components for the main gear steering system of the 777X and 777 aircraft.
In June 2019, Collins Aerospace Systems was awarded a contract from Saab to provide power and control systems for the Boeing TX trainer, including the aircraft's power take-off (PTO) unit auxiliary engine control (APECU).
In March 2019, SKF signed a contract with United Technologies to supply roller bearings, ball bearings, main shaft bearings, and other components for helicopters.
By Aircraft Type
By Gearbox Type
By Application
By Region
Frequently Asked Questions
The growth of the global aircraft gearbox market is driven by increasing air travel demand, advancements in gearbox technology, rising aircraft production, and the need for fuel-efficient and lightweight aircraft components. Additionally, the expansion of the commercial aviation sector, especially in emerging economies, contributes to market growth.
Common types of gearboxes used in aircraft include accessory drive gearboxes, reduction gearboxes, actuation gearboxes, auxiliary power unit (APU) gearboxes, and others. These gearboxes play crucial roles in various aircraft systems and functions.
Technological advancements such as the development of lightweight materials, additive manufacturing, and advanced lubrication systems are significantly impacting the aircraft gearbox market. These innovations lead to more efficient, durable, and lighter gearboxes, improving overall aircraft performance and reducing maintenance costs.
The aftermarket segment plays a significant role in the global aircraft gearbox market. Maintenance, repair, and overhaul (MRO) services for aircraft gearboxes are essential to ensure aircraft safety and reliability. The growing fleet of commercial and military aircraft increases the demand for aftermarket services, contributing to the market's overall growth.
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