The aircraft gearbox market is projected to grow from USD 3.3 billion in 2019 to USD 4.3 billion by 2025, at a CAGR of 4.8% during the forecast period. Timely upgrade of aircraft with new technologies, scheduled maintenance operations of aircraft, and significant fuel saving are expected to drive the growth of the aircraft gearbox market.
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Aircraft gearboxes are integral components of an aircraft engine and include shafts, couplings, adapters, covers, and bearings, among others. They are used for the transfer of engine/motor power to propellers, the main rotor, tail rotors, and other components during normal flight conditions. The number and type of gearboxes required in an aircraft vary based on the aircraft type and engine type.

MarketsandMarkets expects the global aircraft gearbox market to grow from USD 3.3 billion in 2019 to USD 4.3 billion by 2025, at a CAGR of 4.8% from 2019 to 2025. Factors, such as increasing aircraft deliveries and growth in the procurement of lightweight aircraft components are some of the major drivers for the aircraft gearbox market growth.

Based on the component, the gears segment of the market is projected to grow at the highest CAGR during the forecast period. Increasing usage of a variety of gears for different platforms such as commercial aircraft, helicopters, fighters, and military transport aircraft and the high demand for the component in aftermarket services is anticipated driving the market growth during the forecast period.

Based on end-user, the aftermarket segment is projected to grow at the highest CAGR during the forecast period. The growing commercial aircraft fleet is one of the driving factors in the growth of the aftermarket segment in aircraft gearbox market.

In terms of geographic coverage, the aircraft gearbox market has been segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW). The market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. This is due to the increasing passenger traffic and growing demand for new aircraft in the region. Airlines are increasingly demanding lightweight and fuel-efficient engines to reduce aircraft weight and improve fuel efficiency. This has led to the development of fuel-efficient engines where gearboxes play a significant role. Also, the emergence of new commercial aircraft manufacturers in Latin America and Asia Pacific has led to a considerably increased demand for aircraft gearboxes

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