Press release
Aircraft Engine Market Size, Share, Demand & Segments Worth USD 112.61 Billion by 2029, With a CAGR of 10.87%
Aircraft Engine Market
Aircraft engine nacelles are the combination of numerous components such as composites, stainless steel, and others. There has been an increasing demand for aircraft engine nacelles from the aerospace and defense industry owing to the rising air passenger traffic around the world, which is projected to propel the growth of this market during the forecast period.
However, the relatively high cost of associated to procure aircraft engine nacelle is anticipated to restrict the growth of this market.
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Drivers/Restraints:
Growing Investments in Aerospace Industry to Fuel the Market
Over the years, there have been increasing investments in the aerospace industry across the world by various governments due to the increasing number of passenger and defense aircrafts and rising defense strategies by several countries such as India, China, the US, the UK, and others. Thus, this is a crucial factor responsible for the growth of this market across several regions.
Market Segmentation:
On the basis of type, this market is categorized into rear mounted nacelle, pylons under wing, clipped at wing, and others. Based on material, the market is divided into composites, titanium alloys, nickel chromium, stainless steel, and aluminum alloys. By application, the market is classified into civil jet aircraft, business jet aircraft, private jet aircraft, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.
Highlights/Summary:
This research report offers an in-depth study of the driving factors, restraints and trends influencing the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by market players to strengthen their position.
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Regional Insights:
Increasing Presence of Key Companies to Boost the North America Market Growth
North America region is anticipated to witness considerable growth in the aircraft engine nacelle market share on account of the increasing presence of key aerospace companies in the countries such as the US and Canada.
Asia Pacific region is projected to grow speedily in this market due to the rising demand for fuel-efficient and noise-reducing nacelles in the countries such as India and China.
A list of Key Manufacturers Operating in the Glode Aircraft Engine Market Report:
CFM International SA (France)
Honeywell International Inc. (U.S.)
GE Aviation (U.S.)
Rolls-Royce Holdings Plc. (U.K.)
Safran SA (France)
International Aero Engines AG (U.S.)
MTU Aero Engines AG (Germany)
Textron Inc. (U.S.)
United Technologies Corporation (U.S.)
Competitive Landscape:
Rising Production Capabilities to Feed Competition
The prominent companies in the aircraft engine nacelle market are focusing on increasing their production capabilities in this market due to the growing demand for aircraft nacelle from the aerospace and aviation industries worldwide. This has resulted in the increasing competition among key companies which will enable them to diversify their product portfolio and broaden their market presence.
Industry Development:
October 2020: Saertex and Safran had signed a contract for multiaxial carbon fiber fabrics. According to the contract SAERTEX is supplying the multiaxial carbon fiber fabrics for Safran to produce engine nacelles for several aircrafts by using the infusion technology.
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