Aeroengine Fan Blades Market is Expected Reach US $8.1 Billion in 2023, Composite Blade is Likely to Experience the Highest Growth During the Forecast Period, Says Stratview Research
DETROIT, July 17, 2018 /PRNewswire/ —
Stratview Research announces the launch of a new market research report on Aeroengine Fan Blades Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, Business Aircraft, and Military Aircraft), by Engine Type (Turbofan Engine, Turboprop Engine, and Turbojet Engine), by Material Type (Titanium & Alloys, Composites, Aluminum & Alloys, and Steel), by Process Type (Hand Layup, Resin Transfer Molding, Superplastic Forming, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the aeroengine fan blades market over the trend period 2012 to 2017 and forecast period of 2018 to 2023. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Aeroengine Fan Blades Market: Highlights
Fan blades are among the most important components of an aircraft engine. There has been an evolutionary change in the design, size, structure, material, and manufacturing process of fan blades over the past few decades. Curved, lighter, thinner, and fewer are the four big needs in aeroengine fan blades observed in the industry. Composites have gradually been becoming the material of choice for achieving these four industry needs. Besides thinner and fewer in numbers, composite fan blades also spin faster that ultimately helps to generate higher thrust and by-pass ratio.
As per Stratview Research, the global aeroengine fan blades market is projected to grow at a healthy rate over the next five years to reach US$ 8,059.8 million in 2023. Organic growth of the aircraft industry, increasing share of wide-body aircraft in commercial aircraft deliveries, increasing penetration of composite fan blades in newer aircraft engines, increasing fan diameters of newer aircraft, and an expected increase in production of LEAP engines, are the key growth drivers of aeroengine fan blades market.
Research findings suggest that narrow- and wide-body aircraft are likely to remain growth engines of the market during the forecast period. Increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777x; and increasing demand for lightweight composite fan blades are likely to offer a sustainable growth platform for fan blades in these segments in the coming years.
Based on the engine type, turbofan aeroengine fan blades are likely to remain the most dominant as well as the fastest-growing segment of the market during the forecast period. Turbofan engines are the most commonly used engine type in the commercial aircraft, which is the major reason behind their dominance in the market. Increasing production of turbofan engines to support the increasing commercial aircraft production rates, as well as increasing penetration of lightweight composite fan blades, are substantiating the demand for fan blades in the engine segment.
Titanium blades are likely to remain the most dominant material type in the market during the forecast period, whereas composite blades are likely to experience the highest growth in the same period, driven by their usage in newer variants of engines, such as LEAP engines, which are empowering the world’s best-selling model’s fuel-efficient variants (B737 max and A320neo) and GEnx engine empowering B787. Aeroengine fan blades have been undergoing a disruptive transformation from traditional metallic blades to composite blades. Epoxy resin with carbon fiber is the predominantly used material type for manufacturing composite fan blades.
As per the study, North America is projected to remain the largest market during the forecast period, driven by the world’s leading aeroengine manufacturers i.e. GE Aviation, CFM International, and Pratt & Whitney. Most of the major engine manufacturers have assembly plants in the region to support the major aircraft OEMs. However, Asia-Pacific is likely to witness the highest growth in the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size.
Major aeroengine fan blade manufacturers are Safran Aircraft Engines, GE Aviation, Pratt & Whitney, Rolls-Royce, Albany/Safran, CFAN Company, and GKN Aerospace. Development of lightweight fan blades with ease of manufacturing processes; reduced operational cost, improved thrust or performance, and formation of strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors
This report studies the global aeroengine fan blades market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:
Aeroengine Fan Blades Market, By Aircraft Type
- Narrow-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Very Large Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Business Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aeroengine Fan Blades Market, By Engine Type
- Turbofan Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Turboprop Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Turbojet Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aeroengine Fan Blades Market, By Material Type
- Titanium & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aluminum & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aeroengine Fan Blades Market, By Manufacturing Process Type
- Hand Layup (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Resin Transfer Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Superplastic Forming (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other Processes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aeroengine Fan Blades Market, By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: France, Germany, the UK, Poland and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, Singapore, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports: Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
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Source: PR NEWS