Press release
Aeroengine Fan Blades Market 2024: Industry Analysis, Size, Share, Growth, Global Trends and Forecast Major Players- Rolls-Royce, CFM International (CFM), GE Aviation, Safran, Pratt & Whitney, GKN Aerospace
North America will contribute significantly toward the aeroengine fan blades market share owing to the presence of major aircraft manufacturers across the region. Further, improvements in handling air passengers and freight across major airports in North America are providing significant prospects for the regional growth till 2024.
Asia Pacific will showcase a considerable growth rate owing to the proliferating air traffic across the region. Further, the emergence of low-cost carriers offering low-cost air tickets for major tourist places is accelerating the regional share over the study timeframe.
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The growing preference for high bypass ratio turbofan engines for increasing the thrust-to-weight ratio and improving fuel efficiency is positively influencing the aeroengine fan blades market share over the forecast period. The continuous requirement for fans to generate thrust along with aerodynamic design requirements is strengthening the business share till 2024.
Industry participants are engaged in the R&D for introducing lightweight solutions to lower the overall aircraft weight and to increase its efficiency. For instance, the LEAP engine offered by CFM International is made of 3D woven composites utilizing the Resin Transfer Molding process and features the revolutionary fan blade technology. This significantly lowers the engine weight, thereby reducing fuel consumption and nitrogen oxide emissions, providing a positive outlook for aeroengine fan blades market expansion.
Based on aircraft, the segment is distinguished into commercial aviation, regional jets, business aviation, and military aircraft. The availability of a wide range of aircraft at varying price range targeting diversified customers is supporting the segment growth over the projected timeframe. Increasing demand for private aircraft along with an increasing preference for commercial aircraft owing to the proliferation of low-cost carriers is supporting the aeroengine fan blades market growth till 2024.
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Improvements in corrosion resistance of the blades for operating across diversified altitudes and climates are providing a positive outlook for the business proliferation. Industry participants are engaged in using a wide range of materials including shape memory alloys (SMA) and tungsten carbide (WC) for offering improved vibration damping and improved resistance, thereby positively influencing the aeroengine fan blades market share over the study timeframe.
Recent advancements in manufacturing processes, analytical computing, and material technology are cementing the aeroengine fan blades market penetration. In 2015, the NASA performed the testing of a new fan and inlet design named propulsor for increased aircraft fuel efficiency. Design optimization of the fan blade for enhanced core and bypass performance is creating potential opportunities for innovative advancements in the market place.
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Few players in the aeroengine fan blades marketplace include CFM International, GE Aviation, Safran, Pratt & Whitney, CFAN Company, GKN A, and Rolls-Royce, among others. Strategic joint ventures and partnerships are among the prominent strategies adopted by the industry participants for improving their market share. For instance, GKN Aerospace collaborated with Rolls Royce for building a manufacturing facility for producing all-composite engine fan blades.
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Global Market Insights, Inc.
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