APAC Aircraft Thrust Reverser Market Size Will Witness Strong Growth By 2024
Key Participants are
• Triumph Group
• Spirit AeroSystems
• UTC Aerospace Systems & GKN Aerospace.
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.
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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.
3. Aircraft Thrust Reverser Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.4. Pricing analysis
3.4.1. By region
3.5. Cost structure analysis
3.6. Technology landscape
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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.
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.
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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.
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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