Global $9+ Bn Aircraft Nacelle Components Market 2019-2024 with Collins Aerospace , Safran, Spirit AeroSystems,, Bombardier, GKN Aerospace, and Leonardo Dominating
DUBLIN, May 24, 2019 /PRNewswire/ -- The "Aircraft Nacelle Components Market by Aircraft Type, by Component Type, by Material Type, by Process Type and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global aircraft nacelle components market is projected to grow at a healthy rate over the next five years to reach US$ 9,011.1 million in 2024.
This report presents the most complete and thorough market analysis on aircraft nacelle components for the forecast period of 2019 to 2014 with high emphasis on accurate market data, insights and competitive landscapes. The report rigorously studies all major nacelle component suppliers, nacelle system integrators, as well as engine and aircraft manufacturers in order to provide an accurate assessment of the nacelle components market at the global and regional levels. The report further identifies low-hanging fruits that lie ahead for the market participants with an aim to enable informed business decision making and growth strategy formulation for long-term profitable growth.
The Aircraft Nacelle Components Market: Highlights
Increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB; increasing demand for lightweight aircraft nacelle components; increasing share of wide-body aircraft in commercial aircraft deliveries, rising global aircraft fleet size; and increasing diameter of fan blades of turbofan engines are the major growth drivers of the market.
The market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, Business Jet, and Military Aircraft. Narrow-body aircraft is expected to remain the growth engine of the aircraft nacelle components market during the forecast period, propelled by the introduction of fuel-efficient variants of best-selling programs (A320neo and B737 Max). Both commercial aircraft manufacturers (Boeing and Airbus) are enjoying huge order backlogs (13,048 aircraft units as of 31st December 2018) of their commercial aircraft programs and have incessantly been raising the production rates to meet the growing demand.
Based on the material type, the market is segmented as Composites, Nickel Alloys, Titanium, and Others. Composite is expected to remain the material of choice in the market during the forecast period. There has been an incessant replacement of metals with composite components, owing to their excellent strength-to-weight ratio at a relatively lower weight. Titanium components are expected to witness the highest growth in the market during the same period, driven by increasing penetration, especially in exhaust components.
Based on regions, North America is expected to remain the largest aircraft nacelle components market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of aircraft nacelle components in Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for the B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).
The supply chain of this market comprises raw material suppliers, nacelle component manufacturers, nacelle integrators, engine OEMs, aircraft OEMs, and airline companies.
The key aircraft nacelle component manufacturers are Collins Aerospace (Previously UTC Aerospace Systems), Safran S.A., Spirit AeroSystems, Inc., Bombardier (Short Brothers PLC), GKN Aerospace, and Leonardo S.p.A.
Development of lighter nacelle components, regional expansion, and mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Companies Mentioned
- Airbus
- Boeing
- Bombardier (Short Brothers PLC)
- Collins Aerospace
- Composites Technology Research Malaysia Sdn. Bhd.
- FACC Cooperation
- GKN Aerospace
- Leonardo S.p.A.
- Safran S.A.
- Spirit Aerosystems, Inc.
- Standex International Corporation
- The Nordam Group, Inc.
- Triumph Group, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uw6hty
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