Publication Month: May 2020 | Report Code: TIPRE00008014 | No. of Pages: 159 | Category: Aerospace and Defense | Status: Published
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.
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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.
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.
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.
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.
|Market Size Value in||US$ 6.43 Billion in 2019|
|Market Size Value by||US$ 9.58 Billion by 2027|
|Growth rate||CAGR of 5.3% from 2020-2027|
|No. of Pages||159|
|No. of Tables||54|
|No. of Charts & Figures||70|
|Historical data available||Yes|
|Segments covered||Engine Type ; Material Type|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
The List of Companies - Aeroengine Fan Blade Market