Aeroengine Composites Market: Growth Analysis & Forecast till 2024

The market research report, entitled Aeroengine Composites Market shows good possibilities in the Aeroengine Composites Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.

Global Aeroengine Composites Market Forecast:

Aeroengine currently represents a small share of the total aircraft composites market but it is expected to grow at an impressive rate over the next five years. Increasing composite penetration in the latest aeroengines, such as LEAP, GEnx, GE9x, and passport 20 coupled with increasing production rates of the next-generation composite-rich aircraft A350XWB, B787, and F-35 is the major growth driver of the market. The incessant demand for fuel-efficient engines, increasing fan diameters of newer variants engines, and introduction of fuel-efficient variants of the best-selling aircraft with a greater composites content: A320neo and B737 max are further corroborating the growth of composites in aeroengines.

Some linchpins in the market are:

CFAN
Composite Horizon, LLC
FACC AG
GE Aviation
General Dynamics
GKN Aerospace (Melrose Industries)
Meggitt PLC
Safran/Albany
Safran Aircraft Engines
Triumph Group, Inc.
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Aeroengine Composites Market Segmentation:

The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Aeroengine Composites Market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.

COVID-19 IMPACT Analysis on Aeroengine Composites Market

Coronavirus has influenced every one of the organizations, little or large, dealing in any sector. The growth curves of Aeroengine Composites Market have seen immense fluctuations in the year 2020. The market scenario and the pace of growth have taken a colossal turn and have prompted numerous adjustments in the cycles, which will have repercussions for a significant stretch. 2021 is probably going to be superior to 2020 for the Aeroengine Composites Market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.

Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2019 to 2024.

Regional Analysis

Based on the regions, North America is projected to remain the largest market during the forecast period, driven by the presence of the world’s largest aircraft OEM: Boeing. The USA is likely to remain the growth engine of the region’s market during the forecast period, propelled by the presence of the major engine manufacturers, such as GE Aviation, CFM International, and Pratt & Whitney. Asia-Pacific currently represents a relatively small opportunity; however, is subjected to grow at a handsome rate in the coming years, largely driven by China. China is projected to be the new growth engine in the region. Presence of assembly plants of A320neo and B737max coupled with the upcoming C919 aircraft is expected to drive the market in the country.

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This release was published on openPR.