Press release
Commercial Aircraft Turbine Blades & Vanes Market Overview and Growth Rate Analysis 2025 by Top Key Players Companies: UTC Aerospace Systems, Rolls-Royce, Arconic, Cisri-gaona, TURBOCAM, GE Aviation, Leistritz, Moeller Aerospace, and PCC Airfoils.
Commercial Aircraft Turbine Blades & Vanes Market
The Global Commercial Aircraft Turbine Blades & Vanes Market size is projected to grow from US$ 2068.1 Million in 2019 to US$ 2539.2 Million by 2025, at a CAGR of 5.3% from 2019 to 2025.
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According to credible estimates, the global commercial aircraft turbine blade & vanes market size is likely to be valued at US $2539.2 million by the year 2025. Surging aircraft production, in consort with rising focus towards the development of energy efficient engines is propelling the growth of commercial aircraft turbine blades & vanes market.
Rising disposable income, coupled with increasing preference for air travel for tourism as well as business trips will fuel the demand for commercial aircrafts, which in turn will drive the commercial aircraft turbine blades & vanes market. Turbine blades and vanes operate under extreme temperature and pressure conditions which makes them prone to fatigue failure. To optimize the operational cost and minimize the maintenance, material with high-tensile strength, corrosion resistance, and temperature resistance are used for manufacturing turbine blades and vanes.
As per the product type, commercial aircraft turbine blades & vanes industry is classified into HPT (high pressure turbine) blades & vanes, IPT (intermediate pressure turbine) blades & vanes, and LPT (low pressure turbine) blades & vanes.
HPT blades & vanes segment is anticipated to record decent growth in the upcoming years, based on their ability to effectively extract heat from high pressure steam generated inside the combustion chamber.
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Increasing environmental concerns, along with strict federal regulations pertaining to the aircraft emission will augment the market outlook.
However, pending aircraft deliveries will have a negative impact on the commercial aircraft turbine blades & vanes industry. High cost of raw materials used for manufacturing of engine components, along with difficulty associated with restoration and repairing of vanes and blades are restraining the market growth to some extent.
Countries like Saudi Arabia, Brazil, Australia, India, Southeast Asia, China, Japan, Korea, Italy, Russia, United Kingdom, Germany, France, Mexico, United States, and Canada are the key contributors of the commercial aircraft turbine blades & vanes industry.
The major players operating in commercial aircraft turbine blades & vanes industry are Hi-Tek, IHI, UTC Aerospace Systems, Arconic, Cisri-gaona, Rolls-Royce, TURBOCAM, GE Aviation, Leistritz, Moeller Aerospace, and PCC Airfoils.
Asia Pacific market is expected grow at an appreciable growth rate over the forecast period, owing to the expanding population and improving per-capita income which will increase regional air traffic. Numerous aircraft manufacturers are exploring these regions as potential markets due to rising air travel. Prevalence of MRO companies across the region will boost the growth of Asia Pacific commercial aircraft turbine blades & vanes market.
Speaking of the application spectrum, commercial aircraft turbine blades & vanes industry share from widebody application is projected to gain substantial traction during 2020-2025, pertaining to the high demand of these jets. Increase in air travel, coupled with rising focus of airline operators to offer comfort and extra leg-space to passenger are bolstering the demand for widebody aircrafts.
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