Propellers Market to Observe Strong Development by 2021 to 2027
By application, it is bifurcated into aerospace and marine. Aerospace segment is further divided into commercial aircrafts and military aircrafts. Marine segment is subsegmented into cargo or container ship, tanker, bulk carrier, offshore vessel, passenger ship, and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
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Increase in international seaborne trade, rise in commercial aircraft production, and surge in number of shipbuilding projects are the major factors that drive the growth of the propellers market. In addition, rise in marine tourism supplements the market growth. However, huge capital investment involved in setting up manufacturing facility and volatile cost of raw materials hinder the market growth. Technological innovations in propulsion engines, rise in R&D activities, and increase in demand from emerging economies are expected to provide potential opportunities for market expansion.
The major players operating in the global market focus on key market strategies such as product launch, acquisition, and expansion to strengthen their market reach to maintain their position in the market.
Comprehensive competitive analysis and profiles of major market players provided in the report are as follows:
Hartzell Propeller Inc.
Hyundai Heavy Industries Co., Ltd.
Man Diesel & Turbo SE
Mitsubishi Heavy Industries, Ltd.
Nakashima Propeller Co., Ltd.
Rolls-Royce Holdings Plc
UTC Aerospace Systems
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This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global propellers market to identify the prevailing market opportunities.
Major countries in each region are mapped according to individual market revenue.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
Key players and their key developments in the recent years are listed.
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