$2.8 Bn Aircraft Nacelle and Thrust Reverser Market 2018-2023 - Increased Demand for Lightweight Aircraft Nacelles and Thrust Reversers
DUBLIN, Sept 6, 2018 /PRNewswire/ --
The "Aircraft Nacelle and Thrust Reverser Market by End User, Material, Component, Engine Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The aircraft nacelle and thrust reverser market is projected to grow from an estimated USD 2.17 billion in 2018 to USD 2.86 billion by 2023, at a CAGR of 5.59% from 2018 to 2023.
The factor that is expected to act as a major driver is the increasing use of low-drag and lightweight nacelles. Aircraft nacelles are one of the significant contributors to high aircraft weight and drag. The new low-drag lightweight nacelles contribute to increasing fuel efficiency of aircraft, and thus demand for such nacelle and thrust reversers is increasing. The aircraft nacelle and thrust reverser market has been segmented based on component, material, engine type, end user, and region.
Based on end user, the OEM segment of the aircraft nacelle and thrust reverser market is projected to witness the highest growth during the forecast period. In the aviation industry, aircraft are manufactured and delivered to airlines with aircraft nacelle and thrust reverser technology installed in aircraft. Original Equipment Manufacturers (OEMs) are responsible for the installation of aircraft nacelle and thrust reverser components. This is a suitable alternative for airline companies, as post the delivery of aircraft, aftermarket modification becomes cumbersome for aircraft manufacturers.
Based on material, the aluminum alloys segment is expected to lead the aircraft nacelle and thrust reverser market during the forecast period. Metals, such as steel, aluminum, and titanium and its alloys, are preferred for the manufacture of aircraft nacelles on account of their strength and high temperature enduring capacity.
For instance, in Airbus A380, composites are used on the leading edges and in the fuselage frame for structural clips and engine nacelles, but aluminum remains the dominant material in terms of total share of materials in an aircraft on account its corrosion resistance and ductility. Thus, due to increasing demand in new aircraft deliveries globally, the aluminum alloys segment is projected to lead the aircraft nacelle and thrust reverser market during the forecast period.
Based on component, the thrust reverser segment of the aircraft nacelle and thrust reverser market is projected to witness the highest growth during the forecast period. Thrust reversers are the most complex and heaviest part of any aircraft nacelle and contribute significantly to the cost of the total aircraft nacelle. Hence, due to increasing demand in new aircraft deliveries globally, the thrust reverser segment is projected to lead the aircraft nacelle and thrust reverser market during the forecast period.
Based on engine type, the turbofan segment of the aircraft nacelle and thrust reverser market is projected to witness the highest growth during the forecast period. In the aviation industry, almost all the aircraft used in commercial and regional travel work on the principle of turbofan based aircraft propulsion due to which the rise in demand for commercial and regional airliners is leading to the increasing demand for turbofan based engine nacelles. Based on engine type, the turboprop segment is expected to grow at the highest CAGR on account of increasing deliveries of propeller based aircraft, due to increasing regional inter-country passenger traffic.
Aircraft Nacelle and Thrust Reverser Market
North America is expected to be a leading aircraft nacelle and thrust reverser market during the forecast period due to the high demand for new aircraft and replacement of aging fleets. The Asia Pacific region is expected to be the fastest-growing region due to increase in modernization programs in the Asia Pacific aviation industry, which is expected to lead to the high adoption of advanced aircraft nacelles. These factors are anticipated to further propel the demand for aircraft nacelle and thrust reversers in the APAC region.
Significant investments required for the development of different types of aircraft nacelle and thrust reversers is a major factor restraining the growth of the aircraft nacelle and thrust reverser market across the globe.
Major players in the aircraft nacelle and thrust reverser market are Safran (France) and UTC (US), among others. Products offered by various companies operating in the aircraft nacelle and thrust reverser market have been listed in the report.
Key Topics Covered:
1 Introduction
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Aircraft Nacelle and Thrust Reverser Market
4.2 Aircraft Nacelle and Thrust Reverser Market, By Region
4.3 Aircraft Nacelle and Thrust Reverser Market, By End User
4.4 Aircraft Nacelle and Thrust Reverser Market, By Material
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Decline in the Cost of Composite Materials
5.2.1.2 Increased Number of Aircraft Orders
5.2.1.3 Increased Demand for Fuel-Efficient and Noise-Reducing Nacelles
5.2.2 Restraints
5.2.2.1 Difficulty in Repairing Or Remolding Aircraft Nacelles and Thrust Reversers Made From Composite Materials
5.2.3 Opportunities
5.2.3.1 Emergence of New Aircraft Manufacturers in the Asia Pacific Region
5.2.3.2 Increased Demand for Lightweight Aircraft Nacelles and Thrust Reversers
5.2.4 Challenges
5.2.4.1 High R&D Costs Involved in the Development of New Technologies for Aircraft Nacelles and Thrust Reversers
5.2.4.2 Stringent Implementation of Various Regulatory Norms to Ensure Safe Aircraft Operations
6 Industry Trends
6.1 Introduction
6.2 Emerging Trends
6.2.1 Additive Manufacturing (3D Printing) for Engine & Nacelle Components
6.2.2 Low-Drag Nacelle for Future Aircraft
6.2.3 Nacelle Electric Ice Protection Systems
6.2.4 Robotics for Error Free Production
6.2.5 Innovations & Patent Registrations
7 Aircraft Nacelle and Thrust Reverser Market, By End User
7.1 Introduction
7.1.1 Original Equipment Manufacturer (OEM)
7.1.2 Maintenance Repair Overhaul (MRO)
8 Aircraft Nacelle and Thrust Reverser Market, By Material
8.1 Introduction
8.2 Composites
8.3 Titanium Alloys
8.4 Nickel Chromium
8.5 Stainless Steel
8.6 Aluminum Alloys
9 Aircraft Nacelle and Thrust Reverser Market, By Component
9.1 Introduction
9.2 Thrust Reverser
9.3 Aircraft Nacelle
9.3.1 Engine Cowl
9.3.2 Fan Cowl
10 Aircraft Nacelle and Thrust Reverser Market, By Engine Type
10.1 Introduction
10.1.1 Turbofan
10.1.1.1 Narrow Body Aircraft
10.1.1.2 Widebody Aircraft
10.1.1.3 Very Large Aircraft
10.1.1.4 Regional Transport Aircraft
10.1.1.5 Business Jets
10.1.2 Turboprop
10.1.2.1 Military Transport Aircraft
10.1.2.2 Ultralight Aircraft
10.1.3 Gas Turbine
10.1.3.1 Business Helicopter
10.1.3.2 Military Transport Helicopter
10.1.3.3 Military Attack Helicopter
10.1.3.4 Military Light Helicopter
11 Regional Analysis
12 Competitive Landscape
12.1 Introduction
12.2 Rank Analysis
12.3 Competitive Situations and Trends
12.3.1 Contracts
12.3.2 Agreements
13 Company Profiles
13.1 Safran
13.2 United Technologies Corporation
13.3 Leonardo S.P.A.
13.4 Bombardier
13.5 Triumph Group
13.6 FACC
13.7 GKN
13.8 Nordam
13.9 Spirit Aerosystems Inc.
13.10 Woodward, Inc.
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