Growth, Trends and Forecasts (2020-2025)
DUBLIN, Jan. 16, 2020 /PRNewswire/ — The “Aircraft Engine Blades Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The aircraft engine blades market is anticipated to register a CAGR of 5.8% during the forecast period.
Demand for new engines generates demand for compressor and turbine vanes and blades. With the growing aviation market, new orders for fuel-efficient aircraft may continue to drive the growth of the market.
Advancement in material technology to generate lightweight blades and fan structures is also supporting the growth of the market. Composites are one such development, which is becoming a trend in engine fan blades.
Moreover, the aircraft manufacturing industry is shifting toward electrical architecture, for various reasons. The reduction of aircraft emissions is one of the major driving forces for the adoption of electrical and hybrid-driven approaches. Such a shift toward newer architectures will further boost the penetration of agile technologies in fan, turbine, and compressor blade designs and manufacture.
Key Market Trends
The Commercial Segment is Expected to Register the Highest CAGR During the Forecast Period
In 2018, the commercial segment accounted for a major share in the aircraft engine blades market. This is mainly due to the increasing orders for newer generation aircraft by airlines globally to replace the aging fleet and to expand their offerings.
The increased demand for commercial aircraft is a chain effect of the increased air passenger traffic worldwide, which has, in turn, forced airlines to procure new-generation aircraft to ensure profitability. This has led to increased orders for gas turbine engines as an aircraft is designed to work with only specific types of engines.
Prominent engine OEMs are faced with a huge backlog of orders valued at more than USD 140 billion. Due to this, engine OEMs, such as Rolls-Royce, Pratt & Whitney, Safran Aircraft Engines, and GE Aviation are increasing their production through the expansion of existing facilities.
Also, new aircraft programs, like Boeing 777X and Comac C919, are further expected to propel the demand for aircraft engine blades from this segment. Boeing 777X is powered by GE9X. The new engine developed by GE has 3D printed low-pressure turbine blades. GE also designed advanced carbon-fiber composite fan blades for its new engine.
Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period
Asia-Pacific is currently experiencing a steep rise in the number of passengers opting for air travel. This has forced the various airlines operating in the region to expand their fleet size. According to Boeing, over 17,000 aircraft are expected to be delivered over the next two years. China and India are the major demand for generating countries. Additionally, several engine parts manufacturers are expanding in the Asia-Pacific region, along with aircraft OEMs, to reduce supply chain complexity, as well as to tap into the emerging potential market. Moreover, the increasing military spending is bolstering the military aircraft developments and procurements, and the growing general aviation fleet in the region is further propelling the growth of the aircraft engine blades market in this region during the forecast period.
The aircraft engine blades market is primarily dominated by aircraft engine manufacturers. There is a growing trend wherein engine manufacturers are acquiring smaller blade manufacturers to gain access to manufacturing technologies, like additive manufacturing, which can increase their overall production rate. For instance, UTC is one of the key competitors in the aerospace supply chain, due to overwhelming dominance in the supply chain, and presence in every step of the aircraft and engine manufacturing process, including aftermarket.
The prominent players in the aircraft engine blades market are Collins Aerospace, GE, MTU Aero Engines, Arconic Inc., and Safran. Companies are tapping into emerging markets to enlarge their market presence. Rolls-Royce opened an engine assembly and test facility earlier in 2012 to manufacture hollow titanium wide chord fan blades. The facility has a production capacity of 8,600 fan blades per year.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Blade type
5.1.1 Compressor Blades
5.1.2 Turbine Blades
5.1.3 Fan Blades
5.2.3 General Aviation
5.3.2 Nickel Alloy
5.3.4 Other Materials
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.3 Asia Pacific
22.214.171.124 Rest of Asia Pacific
5.4.4 Latin America
126.96.36.199 Rest of Latin America
5.4.5 Middle East & Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Collins Aerospace
6.2.2 Albany Engineered Composites
6.2.3 Farinia Group
6.2.4 Hi-Tek Manufacturing
6.2.7 Alcoa Corporation
6.2.8 Doncasters Group Ltd.
6.2.10 IHI AEROSPACE Co. Ltd.
6.2.11 MTU Aero Engines
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hsqt6s
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
CLICK HERE to include your press-releases.