Market Research Report
Global Commercial Aircraft Turbine Blades & Vanes Market - Trends & Forecast, 2016-2021
|Published by||Market Research Future||Product code||539800|
|Published||Content info||55 Pages
Delivery time: 1-2 business days
|Global Commercial Aircraft Turbine Blades & Vanes Market - Trends & Forecast, 2016-2021|
|Published: February 22, 2017||Content info: 55 Pages||
Global Commercial Aircraft Turbine Blades and Vanes Market
by Aircraft Class (Narrowbody, Widebody, and Regional Transport Aircraft) and by Geography - Forecast To 2021.
The Global Commercial Aircraft Turbine Blades and Vanes Market is expected to grow at a CAGR of around 6% during 2016-2021. Growing demand for improved aero-engine components is a major factor driving the market growth. For aircraft operators, the maintenance and repair cost associated with aircraft components constitute a major chunk of the operational cost. For a modern aircraft gas turbine engine, the cost largely depends on the durability of hot section components, which are continually subjected to high temperatures. Improvements in stages during design and construction help to extend their durability and service life, leading to less need for maintenance. Furthermore, the increase in aircraft and aero-engine sales along with the new aero-engine developments are expected to fuel the growth of the market market. Therefore, the market is expected to reach USD 1,279.8 million by the end of 2021 and is expected register a CAGR of 5.91%.
As per the MRFR analysis, the APAC region will continue its dominance in the forecast period to reach $565.5 million, to grow at a CAGR of 8%. The region presents countless opportunities for aerospace manufacturers, MRO companies, general aviation and aerospace players. Appetite for air travel continues to grow in the region. Strong growth in the upper-middle class segment followed by lower-middle class segment has paved the way for strong passenger numbers with highest growth in the region. Concurrently, Europe and Americas are expected to grow at a CAGR of 5.23% and 3.44%, respectively during the forecast period.
Some of the key players in the Global Commercial Aircraft Turbine Blades and Vanes Market are GE Aviation, GKN Aerospace, Rolls Royce, Turbocam International, UTC Aerospace Systems, Chromalloy, Hi-Tek Manufacturing, Moeller Aerospace, and Snecma. In 2016, the companies such as GE Aviation, Rolls Royce, and UTC Aerospace Systems accounted for over 30% of the global market.
As per the MRFR analysis, cost associated with materials, technical issues related to the fixture of turbine blades, and spare parts pricing transparency are the factors limiting the market growth.
The report also covers country level analysis:
The market report for Global Commercial Aircraft Turbine Blades and Vanes Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.