Bombardier Aerospace’s high performance aircrafts and services set the utmost standard for the Aerospace industry. A case study in collaboration with Bombardier Aerospace is conducted in order to estimate the target cost of a landing gear. More precisely, the study uses both parametric model and neural network models to estimate the cost of main landing gears, a major aircraft commodity. A comparative analysis between the parametric based model and those upon neural networks model will be considered in order to determine the most accurate method to predict the cost of a main landing gear. Several trials are presented for the design and use of the neural network model. The analysis for the case under study shows the flexibility in the design of the neural network model. Furthermore, the performance of the neural network model is deemed superior to the parametric models for this case study.