Spatial clustering of identical particles falling through a turbulent flow enhances the collision rate between the falling particles, an important problem in aerosol science. We analyse this problem using perturbation theory in a dimensionless parameter, the so-called Kubo number. This allows us to derive an analytical theory quantifying the spatial clustering. We find that clustering of small particles in incompressible random velocity fields may be reduced or enhanced by the effect of gravity (depending on the Stokes number of the particles) and may be strongly anisotropic. ; Comment: 5 pages, 3 figures, supplemental material