PUBLISHER: The Insight Partners | PRODUCT CODE: 1874021
PUBLISHER: The Insight Partners | PRODUCT CODE: 1874021
Aeroengine Fan Blades Market
The market for aeroengine fan blades is anticipated to grow from US$ 8.12 billion in 2024 to US$ 12.92 billion by 2031, reflecting a compound annual growth rate (CAGR) of 7.08% during the period from 2031 to 2031. The growth and demand for aeroengine fan blades across various nations are influenced by the presence of aircraft manufacturers, aeroengine producers, component manufacturers, and maintenance, repair, and overhaul (MRO) service providers. Key countries expected to drive the demand for aeroengine fan blades in the upcoming years include the United States, the United Kingdom, France, Germany, Russia, China, Japan, Brazil, India, and Turkey, among others.
Aeroengine Fan Blades Market Analysis
Here are some insights from leading experts in the aeroengine fan blades market:
- Factors influencing the growth of the global aviation industry include the demand for air travel, regulatory changes, infrastructure advancements, and technological innovations.
- The demand for affordable travel is rapidly increasing across various regions. The rising popularity of low-cost carriers (LCCs) and ultra-low-cost carriers (ULCCs) is expected to create significant growth opportunities for companies producing aeroengine fan blades globally.
- Key manufacturers of fan blades, such as GE Aviation, CFM International, and Rolls-Royce Plc, are increasingly adopting composite materials and engaging in ongoing research and development to enhance the performance of these materials, which is likely to drive the growth of composite fan blades in the near future.
Aeroengine Fan Blades Market Overview
The ecosystem of the aeroengine fan blades market includes various stakeholders such as hardware/component suppliers, manufacturers of aeroengine fan blades, MRO companies, aircraft engine manufacturers, and end users. Manufacturers consistently source raw materials from suppliers to produce fan blades that meet the rising demands of customers. The raw materials utilized in fan blade production include titanium, carbon fiber, and aluminum, among others. After acquiring these materials, original equipment manufacturers (OEMs) of aeroengine fan blades create high-performance and durable products to satisfy customer requirements. Companies like CFM International, GE Aviation, and Pratt & Whitney manufacture fan blades for their engines and supply them to other aircraft engine manufacturers and MROs. End users encompass both commercial and military aircraft. MRO providers such as AAR Corporation and Lufthansa Technik offer maintenance, repair, and overhaul services, including fan blade repair, to these end users. With the increasing production rates of commercial and military aircraft, the demand for fan blades and replacement orders is expected to rise steadily throughout the forecast period.
Strategic Insights
Aeroengine Fan Blades Market Drivers and Opportunities
Increasing Aircraft Engine Production
The surge in aircraft engine production by major manufacturers is driving the demand for aeroengine components, including fan blades, across various regions. This demand is further fueled by the anticipated production of over 40,000 new commercial aircraft by 2042, as projected by Boeing and Airbus. Additionally, the rising deliveries of leap engines and turbofan engines from leading manufacturers are contributing to the need for new aeroengine fan blades. For example, in 2023, GE Aviation delivered approximately 1,570 leap engines globally and plans to deliver between 1,884 and 1,963 turbofan engines in 2024, with a target of over 2,000 leap engines annually by 2031. Such developments are propelling the growth of the aeroengine fan blades market worldwide.
Demand from the Aircraft Engine MRO Industry
The growing global aircraft fleet is a significant factor driving the need for engine MRO operations. Engine MRO represents the largest segment of the overall aircraft MRO industry, further boosting the demand for aeroengine components and the fan blades market globally. Many airlines are taking steps to upgrade their aircraft fleets, which increases the demand for new aircraft engines and, consequently, the installation of new aeroengine fan blades. For instance, in January 2023, GE Aerospace and Cargolux announced a long-term support agreement for the GE9X engine powering Cargolux's new fleet of Boeing 777-8 freighters, which includes a multi-year GE TrueChoice service agreement and an order for two spare engines.
Aeroengine Fan Blades Market Report Segmentation Analysis
The analysis of the Aeroengine Fan Blades Market is segmented by engine type, material type, and geography.
- By engine type, the market is divided into turbofan, turboprop, and turbojet aeroengines, with the turbofan segment holding the largest market share in 2024.
- In terms of material type, the market is categorized into titanium alloys, aluminum alloys, steel, and composites, with titanium alloys accounting for the largest share in 2024.
Aeroengine Fan Blades Market Share Analysis by Geography
The geographic analysis of the aeroengine fan blades market is divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America led the market in 2024, while the Asia Pacific region is expected to experience significant growth during the forecast period. The demand for aeroengine fan blades in North America is primarily driven by the presence of numerous aircraft engine manufacturers, including General Electric, Pratt & Whitney, Williams International, Honeywell International Inc., and CFM International, which consistently generate demand for aeroengine components, including fan blades, for aircraft engine applications.
Aeroengine Fan Blades Market Report Scope
Aeroengine Fan Blades Market News and Recent Developments
The evaluation of the aeroengine fan blades market is based on qualitative and quantitative data collected through primary and secondary research, including significant corporate publications, association data, and databases. Recent developments in the aeroengine fan blades market include:
- In May 2022, StandardAero announced an agreement to acquire EB Airfoils, a provider of MRO services for fan blades, compressor blades, and vanes in the aero-engine market. (Source: StandardAero, Press Release/Company Website/Newsletter)
- In March 2021, Rolls-Royce revealed that it had commenced manufacturing the UltraFan, the world's largest aero-engine, aimed at redefining sustainable air travel for the future. (Source: Rolls-Royce Plc, Press Release/Company Website/Newsletter)
Aeroengine Fan Blades Market Report Coverage and Deliverables
The report titled "Aeroengine Fan Blades Market Size and Forecast (2021-2031)" provides a comprehensive analysis of the market, covering the following areas:
- Market size and forecast at global, regional, and country levels for all key segments included in the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter's Five Forces analysis
- Global and regional market analysis covering key trends, major players, regulations, and recent developments
- Industry landscape and competition analysis, including market concentration, heat map analysis, prominent players, and recent developments
- In-depth company profiles with SWOT analysis
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Aeroengine Fan Blades Market and By Engine Type
- 1.3.2 Aeroengine Fan Blades Market and By Material Type
- 1.3.3 Aeroengine Fan Blades Market- By Region
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Aeroengine Fan Blades Market Landscape
- 4.1 Market Overview
- 4.2 Porter’s Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threats of Substitutes
- 4.2.4 Threats of New Entrants
- 4.2.5 Competitive Rivalry
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
5. Aeroengine Fan Blades andMarket Dynamics
- 5.1 Market Drivers
- 5.1.1 Positive Growth Outlook of the Global Aviation Industry
- 5.1.2 Growing Number of Air Passengers across Developing Regions
- 5.2 Market Restraints
- 5.2.1 Time and Cost Challenges related to Fan Blade Design and Development
- 5.3 Market Opportunities
- 5.3.1 Rising Demand for Low Cost and Ultra-Low Cost Carriers
- 5.4 Future Trends
- 5.4.1 Composite Material Fan Blades to Drive the Future Growth
- 5.5 Impact Analysis of Drivers and Restraints
6. Aeroengine Fan Blades Market and Global Analysis
- 6.1 Aeroengine Fan Blades Market Global Overview
- 6.2 Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Billion)
- 6.3 Market Positioning and Five Key Players
7. Aeroengine Fan Blades Market Analysis and By Engine Type
- 7.1 Overview
- 7.1.1 Aeroengine Fan Blades Market Breakdown, by Engine Type, 2024 and 2031
- 7.2 Turbofan Aeroengine
- 7.2.1 Overview
- 7.2.2 Turbofan Aeroengine Market Revenue and Forecast to 2031 (US$ Million)
- 7.3 Turboprop Aeroengine
- 7.3.1 Overview
- 7.3.2 Turboprop Aeroengine Market Revenue and Forecast to 2031 (US$ Million)
- 7.4 Turbojet Aeroengine
- 7.4.1 Overview
- 7.4.2 Turbojet Aeroengine Market Revenue and Forecast to 2031 (US$ Million)
8. Aeroengine Fan Blades Market Analysis and By Material Type
- 8.1 Overview
- 8.2 Aeroengine Fan Blades Market Breakdown, by Material Type, 2024 and 2031
- 8.3 Titanium Alloys
- 8.3.1 Overview
- 8.3.2 Titanium Alloys Market Revenue and Forecast to 2031 (US$ Million)
- 8.4 Aluminium Alloys
- 8.4.1 Overview
- 8.4.2 Aluminium Alloys Market Revenue and Forecast to 2031 (US$ Million)
- 8.5 Steel
- 8.5.1 Overview
- 8.5.2 Steel Market Revenue and Forecast to 2031 (US$ Million)
- 8.6 Composites
- 8.6.1 Overview
- 8.6.2 Composites Market Revenue and Forecast to 2031 (US$ Million)
9. Aeroengine Fan Blades Market and Geographic Analysis
- 9.1 Overview
- 9.2 North America: Aeroengine Fan Blades Market
- 9.2.1 North America: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.2.2 North America: Aeroengine Fan Blades Market, by Engine Type
- 9.2.3 North America: Aeroengine Fan Blades Market, by Material Type
- 9.2.4 North America: Aeroengine Fan Blades Market, by Key Country
- 9.2.4.1 US: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.2.4.1.1 US: Aeroengine Fan Blades Market, by Engine Type
- 9.2.4.1.2 US: Aeroengine Fan Blades Market, by Material Type
- 9.2.4.2 Canada: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.2.4.2.1 Canada: Aeroengine Fan Blades Market, by Engine Type
- 9.2.4.2.2 Canada: Aeroengine Fan Blades Market, by Material Type
- 9.2.4.3 Mexico: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.2.4.3.1 Mexico: Aeroengine Fan Blades Market, by Engine Type
- 9.2.4.3.2 Mexico: Aeroengine Fan Blades Market, by Material Type
- 9.2.4.1 US: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3 Europe: Aeroengine Fan Blades Market
- 9.3.1 Europe: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.2 Europe: Aeroengine Fan Blades Market, By Engine Type
- 9.3.3 Europe: Aeroengine Fan Blades Market, By Material Type
- 9.3.4 Europe: Aeroengine Fan Blades Market, By Country
- 9.3.4.1 Germany: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.1.1 Germany: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.1.2 Germany: Aeroengine Fan Blades Market, by Material Type
- 9.3.4.2 France: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.2.1 France: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.2.2 France: Aeroengine Fan Blades Market, by Material Type
- 9.3.4.3 Italy: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.3.1 Italy: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.3.2 Italy: Aeroengine Fan Blades Market, by Material Type
- 9.3.4.4 UK: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.4.1 UK: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.4.2 UK Aeroengine Fan Blades Market, by Material Type
- 9.3.4.5 Russia: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.5.1 Russia: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.5.2 Russia Aeroengine Fan Blades Market, by Material Type
- 9.3.4.6 Rest of Europe: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.3.4.6.1 Rest of Europe: Aeroengine Fan Blades Market, by Engine Type
- 9.3.4.6.2 Rest of Europe Aeroengine Fan Blades Market, by Material Type
- 9.3.4.1 Germany: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4 APAC: Aeroengine Fan Blades Market
- 9.4.1 APAC: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.2 APAC: Aeroengine Fan Blades Market, By Engine Type
- 9.4.3 APAC: Aeroengine Fan Blades Market, By Material Type
- 9.4.4 APAC: Aeroengine Fan Blades Market, By Country
- 9.4.4.1 Australia: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.1.1 Australia: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.1.2 Australia: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.2 China: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.2.1 China: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.2.2 China: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.3 India: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.3.1 India: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.3.2 India: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.4 Japan: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.4.1 Japan: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.4.2 Japan: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.5 South Korea: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.5.1 South Korea: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.5.2 South Korea: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.6 Rest of APAC: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.4.4.6.1 Rest of APAC: Aeroengine Fan Blades Market, by Engine Type
- 9.4.4.6.2 Rest of APAC: Aeroengine Fan Blades Market, by Material Type
- 9.4.4.1 Australia: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5 MEA: Aeroengine Fan Blades Market
- 9.5.1 MEA: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5.2 MEA: Aeroengine Fan Blades Market, by Engine Type
- 9.5.3 MEA: Aeroengine Fan Blades Market, by Material Type
- 9.5.4 MEA: Aeroengine Fan Blades Market, by Key Country
- 9.5.4.1 South Africa: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5.4.1.1 South Africa: Aeroengine Fan Blades Market, by Engine Type
- 9.5.4.1.2 South Africa: Aeroengine Fan Blades Market, by Material Type
- 9.5.4.2 Saudi Arabia: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5.4.2.1 Saudi Arabia: Aeroengine Fan Blades Market, by Engine Type
- 9.5.4.2.2 Saudi Arabia: Aeroengine Fan Blades Market, by Material Type
- 9.5.4.3 UAE: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5.4.3.1 UAE: Aeroengine Fan Blades Market, by Engine Type
- 9.5.4.3.2 UAE: Aeroengine Fan Blades Market, by Material Type
- 9.5.4.4 Rest of MEA: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.5.4.4.1 Rest of MEA: Aeroengine Fan Blades Market, by Engine Type
- 9.5.4.4.2 Rest of MEA: Aeroengine Fan Blades Market, by Material Type
- 9.5.4.1 South Africa: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.6 SAM: Aeroengine Fan Blades Market
- 9.6.1 SAM: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.6.2 SAM: Aeroengine Fan Blades Market, by Engine Type
- 9.6.3 SAM: Aeroengine Fan Blades Market, by Material Type
- 9.6.4 SAM: Aeroengine Fan Blades Market, by Key Country
- 9.6.4.1 Brazil: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.6.4.1.1 Brazil: Aeroengine Fan Blades Market, by Engine Type
- 9.6.4.1.2 Brazil: Aeroengine Fan Blades Market, by Material Type
- 9.6.4.2 Rest of SAM: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
- 9.6.4.2.1 Rest of SAM: Aeroengine Fan Blades Market, by Engine Type
- 9.6.4.2.2 Rest of SAM: Aeroengine Fan Blades Market, by Material Type
- 9.6.4.1 Brazil: Aeroengine Fan Blades Market and Revenue and Forecast to 2031 (US$ Million)
10. Aeroengine Fan Blades Market- COVID-19 Impact Analysis
- 10.1 Overview
- 10.2 North America
- 10.3 Europe
- 10.4 Asia-Pacific
- 10.5 Middle East and Africa
- 10.6 South America
11. Industry Landscape
- 11.1 Market Initiative
- 11.2 New Product Development
12. COMPANY PROFILES
- 12.1 C-Fan
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 CFM International
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Chaheng Precision Co. Ltd.
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 GE Aviation
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
- 12.5 GKN Aerospace Services Limited
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 IHI Corporation
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 MTU Aero Engines AG
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 Pratt and Whitney
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 12.9 Rolls-Royce Holdings plc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
- 12.10 Safran S.A
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
13. Appendix
- 13.1 About The Insight Partners
- 13.2 Word Index
