Aeroengine Fan Blades Market Industry Growth, Trends, Opportunity Analysis By 2027

In terms of revenue, the global aeroengine fan blades market was valued at US$ 6.43 billion in 2019 and is projected to reach US$ 9.58 billion by 2027; it is expected to grow at a CAGR of 5.3% during the forecast period from 2020 to 2027.

The aeroengine fan blades market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. The aerospace and defense industry across the world is a strategically important sector. The increase in global aerospace and defense spending and the subsequent demand for their equipment is expected to create increased opportunities for the contractors and their supply chains. The commercial and military aircraft aftermarket landscape is also growing, owing to a changing aircraft fleet mix, pressure on airlines to mitigate maintenance costs and the arrival of advanced technologies. Thus, resulting in an increased aftermarket opportunity for the overall commercial and military aircraft value chain, including original equipment manufacturers (OEM). The growing investment in the aerospace and defense industry by the government is propelling the global aeroengine fan blade market. Some of the prominent market players include CFM International, Pratt & Whitney, and GE Aviation, among others having a considerable customer base and strong market positioning.

Lucrative Regional Aeroengine Fan Blades Market

Get more information on this report : Request Free Sample PDF

Market Insights–Aeroengine Fan Blades Market

Positive Growth Outlook of the Global Aviation Industry

The global aviation industry is highly dynamic in nature and it adapts quickly to macroeconomic changes, external market forces, and evolving customer expectations. The macroeconomic factors across geographies such as political, economic, social, and technological shape the growth outlook of global aviation industry. The key factors that affect the global aviation industry include air travel demand, regulatory changes, infrastructure developments, and technological advancements. According to Airbus’s global market forecast- 2019 to 2038, the long term growth outlook of global aviation industry is quite positive and it is projected that the air traffic will double in next fifteen years with an averages traffic growth rate of 4.3% per annum.

COVID-19 Impact–Aeroengine Fan Blades Market

According to latest situation report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 also. The outbreak has created significant disruptions in primary industries such as aerospace, manufacturing, and electronics & semiconductor, among others. The sharp decline in aerospace manufacturing industry is impacting the growth of global aeroengine fan blades market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both aircraft manufacturing for both commercial as well as defence sector.

Engine Type Segment Insights

Based on engine type, the turbofan aeroengine segment dominated the global aeroengine fan blades market in 2019. At present, most of the commercial aviation jet engines use the high-bypass type and modern military fighter engines with low-bypass. The advanced turbofans comprise either a massive single-stage fan or a smaller fan with numerous stages.

Material Type Segment Insights

Based on material type, the titanium alloys segment held the largest share in global aeroengine fan blades market in 2019. Titanium alloys are the most widely used material type for the manufacturing of fan blades worldwide. The gas turbine fan blades of military and commercial aircraft suffer several types of damage in service, including high strain low cycle fatigue (LCF), foreign object damage (FOD), and wear and fretting fatigue.  

Strategic Insights

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

• In 2020, IHI Corporation primes more electric architecture for aircraft and propulsion that emphases at the optimization of the total energy management of aircraft system with technological innovation toward CO2 emission reduction from aviation. IHI developed an electric machine (250kW) that can be fitted inside the tail cone located in the aircraft jet engine rear-end in cooperation with domestic companies, and successfully completed the evaluation testing.
• In 2020, Rolls-Royce Holdings PLC has started manufacturing of world’s largest fan blades for aeroengine. The company started producing the composite blades for its UltraFan demonstrator engine, which would set new standards for efficiency. The fan blades having a diameter of 140-inch are being made at the Roll-Royce’s technology hub in Bristol. The product would provide a 25% fuel reduction compared to the first generation of Trent engine. As per the company, the UltraFan would start its ground tests by 2021. 
• In 2019, Korea Aerospace Industries (KAI) and Safran S.A agreed a strategic Memorandum of Understanding at Paris Airshow to expand collaboration between these two companies. Under this MOU, KAI and Safran agree to explore potential collaborative opportunities across activities on the various areas in space, commercial and military activities, etc.

The global aeroengine fan blades market has been segmented as follows:

Aeroengine Fan Blades Market – By Engine Type

• Turbofan Aeroengine
• Turboprop Aeroengine
• Turbojet Aeroengine

Aeroengine Fan Blades Market – By Material Type

• Titanium Alloys
• Aluminum Alloys
• Steel
• Composites

Aeroengine Fan Blades Market- By Region

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • UK
  • Italy
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)

  • Australia
  • South Korea
  • China
  • India
  • Japan
  • Rest of APAC

• Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Rest of SAM

Aeroengine Fan Blades Market – Companies Profiles

• CFM International
• GE Aviation
• Pratt & Whitney
• Rolls-Royce Holdings plc
• Safran S.A
• GKN Aerospace
• IHI Corporation
• C-FAN
• Chaheng Precision Co. Ltd.
• MTU Aero Engines AG