Aircraft Thrust Reverser Market Size By 2017 - 2024
Aircraft Thrust Reverser, Aircraft Thrust Reverser Market, Aircraft Thrust Reverser Market Size, Aircraft Thrust Reverser Industry
Aircraft Thrust Reverser Market is estimated to surpass USD 2.2 billion by 2024; according to a new research report.Thrust reversal, also called reverse thrust, is the temporary diversion of an aircraft engine's thrust so that it is directed forward, rather than backward. Reverse thrust acts against the forward travel of the aircraft, providing deceleration. Thrust reverser systems are featured on many jet aircraft to help slow down just after touch-down, reducing wear on the brakes and enabling shorter landing distances. Such devices affect the aircraft significantly and are considered important for safe operations by airlines. There have been accidents involving thrust reversal systems, including fatal ones.
Thrust reverser deployment during landing and aborted takeoff offering superior safety and reduced landing distance will fuel the industry growth. Installation of aircraft thrust reverser offers additional stopping force on slippery and wet runways. Proliferating demand of commercial planes will support the aircraft thrust reverser market growth. The growth can be attributed to rising air passengers particularly from emerging countries owing to affordable price and increasing infrastructure development in the region.
Increasing global GDP is among prime factor driving the air traffic growth. Shifting trend towards liberalization, development of new service-based business model and growth in tourism are the prime factors fueling the air plane demand. Improving the operational safety of the airplane are the key focus of the manufacturers and airliners. Reduced landing distance along with regular safety checks of the plane will positively influence the product penetration.
Design complexity along with high cost required for the product production and installation may hamper the industry growth. Manufactures are focusing on reducing the overall production cost with implementing automation and reducing the cycle time required for the composites. Long term supply agreement along with becoming sole integrator for the airplane manufacturers are the key strategies of the participants.
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Cascade accounts for major volume share and will witness strong growth during the forecast timeframe. The growth can be attributed to increasing implementation of the product in advanced aircrafts. Bucket will witness growth over 4% up to 2024. Increasing trend for MRO along with growing trends of replacing conventional fleet with advanced airplanes are the key factors driving the product growth.
Aircraft thrust reverser market demand from large widebody aircraft generated over USD 40 million in 2016. The revenue contribution can be credited to growing demand for airplane particularly from developed region. Aircraft thrust reverser market from single aisle air body will witness strong growth over 4.5% up to 2024. Strong demand of the commercial particularly from emerging countries owing to increasing investment in airliner will drive the business growth.
In 2016, hand layup contributed over 50% of aircraft thrust reverser market share. Development of the process offering superior production method, easy processing and mass production are the key factors fueling the industry demand. ATF/ATP will witness rapid growth over 4.5% during the forecast timeframe. Innovations in the production process with implementation of automation and reducing the overall processing time will drive the segment growth.
Hydraulics dominates the aircraft thrust reverser market in 2016. The preference can be contributed to easy installation and operation of the mechanism. Electric aircraft thrust reverser market will witness robust growth over 5.5% up to 2024. Increasing installation of the electric thrust reverser in advanced airplane will fuel the industry demand. This eliminates usage of corrosive fluids in the system and offers reduced weight. Manufacturers are focusing on developing electric thrust reverser for conventional airplane.
North America led by the U.S. dominates the aircraft thrust reverser market accounting over 55% of industry share. In 2015, the U.S. airplane and spacecraft exports accounted over USD 130 billion owing to demand from emerging countries and high backlog. Presence of industry participants in the region along with demand for commercial airplane will fuel the regional growth.
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Europe aircraft thrust reverser market led by Germany, France and UK will witness growth during the study timeframe. In 2015, aerospace industry export from France, Germany and UK together accounted over USD 115 billion. Stringent airplane safety regulation in Europe will fuel the product demand in the region. Mandatory installation of the product in widebody, narrow body and regional airplane will boost the regional demand.
Asia Pacific aircraft thrust reverser market will witness strong growth owing to rising passenger traffic, demand for single aisle, regional and widebody airplane. Rising population along with considerable reduced fares are the key factors driving the business growth. Developing GDP, rising air travel demand, aircraft affordability, stable financial performance and industry consolidation are key factors supporting industry growth.
Nordam, Triumph Group, Spirit AeroSystems, Safran S.A., UTC Aerospace Systems and GKN Aerospace are among few notable players of aircraft thrust reverser market. Manufacturers are developing products offering rigidity along with light weight sufficing the aviation standards. Risk sharing with the airplane manufacturers are key trends offering competitive edge in the industry.
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Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Aircraft thrust reverser industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Aircraft trends
2.1.4. Manufacturing Process trends
2.1.5. Mechanism trends
2.1.6. Regional trends
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