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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aeroengine Fan Blades Market: Strategic Insights
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 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aeroengine Fan Blades Market: Strategic Insights
| 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 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Engine Type ; Material Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Europe is the fastest-growing region in the global aeroengine fan blades market owing to factors such as presence of large number of aircraft related manufacturing companies, infrastructure upgradation, and investments in research & development activities.
The demand for low cost travel is increasing at an impressive pace across geographies. Hence, the demand for low cost carriers and ultralow cost carriers is rising globally. The success of these models in various countries is driving airlines to invest in small and medium aircrafts for short distance and regional travels. The popularity of LCCs and ULCCs is expected to boost the commercial passenger aircraft demand worldwide over the forecast period of 2020 to 2027.
In 2019, Turbofan is the most widely used engine type in global aeroengine fan blades market. A few prominent manufacturers of turbofan aero engines are General Electric, Rolls-Royce plc, and Pratt & Whitney.
The List of Companies - Aeroengine Fan Blade Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Aeroengine Fan Blades Market
May 2020
May 2020
Advanced Air Mobility Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software), Operation Mode (Piloted, Autonomous), Propulsion Type (Fully Electric, Hybrid), End Use (Passenger, Cargo)
May 2020
Airport Fueling Equipment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Tanker Capacity (Below 5,000 Liters; 5,000–20,000 Liters; and Above 20,000 Liters), Aircraft Type (Civil Aircraft and Military Aircraft), and Power Source (Electric and Non-Electric)
May 2020
Satellite Optical Ground Station Market
Forecast to 2028 - Global Analysis by Operation (Laser Satcom and Optical Operations), Equipment (Consumer Equipment and Network Equipment), Application (Laser Operations, Debris Identification, Earth Observation, and Space Situational Awareness), and End User (Government and Military and Commercial Enterprises)
May 2020
Electro-Optics in Naval Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Camera, Sensor, and Laser Range Finder), Application (Target Detection, Identification, and Tracking; Surveillance; Fire Control; and Others), and End Use (Defense and Commercial)
May 2020
Commercial Air Traffic Management Market
Forecast to 2030 - COVID-19 Impact and Global Analysis By Type (Air Traffic Services, Air Traffic Flow Management, and Airspace Management), Component (Hardware and Software), Application (Communication, Navigation, Surveillance, Traffic Control, and Others), and Airport Class (Class I, Class II, Class III, and Class IV)