Press release
Contrarotating Propeller Spinners Market - DataM Intelligence 4Market Research
The Global Contrarotating Propeller Spinners Market reached USD 672.4 million in 2022 and is expected to reach USD 956.2 million by 2030, growing with a CAGR of 4.5% during the forecast period 2023-2030.
Increased defence expenditure by major world powers will be a significant driver of the global contrarotating propellers market during the projected period. Defence expenditure has surged drastically across Europe and North America, notably in the aftermath of the Russia-Ukraine conflict. Armed forces are introducing unmanned aerial vehicles (UAVs), loitering bombs, and other modern weapon systems to improve combat readiness.
The creation of new electric aircraft is projected to be a key development in the aviation sector in the next years. Due to propeller-driven aircraft being projected to be the dominant option for electric aircraft powertrain systems, contrarotating propellers are expected to be used for electric aircraft.
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Market Key Drivers
Increase in Global Defence Spending
According to data from the Stockholm International Peace Research Institute (SIPRI), global defence expenditure increased by more than 19% between 2013 and 2022. Furthermore, global defence expenditure is expected to increase by 3.7% in real terms in 2022, reaching USD 2,240 billion. Defence expenditure is likely to rise drastically in the medium and long term as a result of the Russia-Ukraine conflict.
Major global military powers are boosting defence spending, mostly to purchase new weapon systems. To combat a slew of new threats, militaries are introducing new weaponry such as unmanned aerial vehicles (UAVs) for army and air forces, as well as new torpedoes for naval forces. Defence budget increases would indirectly boost demand for contrarotating propellers from different weapon makers.
Market Segmentation
By Propeller Size
• Small-Scale Propellers
• Medium-Scale Propellers
• Large-Scale Propellers
By Application
• Unmanned Aerial Vehicles (UAVs)
• Military Aircraft
• Civilian Aircraft
• Marine
By End User
• Aerospace & Defense
• Recreational & Leisure
• Others
Key Industry Development
• In June 2023, a team of scientists from the Kyoto Institute of Technology in Japan, published a research paper detailing the development and simulation of a flying car concept utilization contrarotating propeller spinners for propulsion.
• In December 2022, a team of researchers from the Beihang University in China published a research paper describing the optimization of the blade shape of a contrarotating propeller for improved vertical take-off and landing (VTOL) aircraft operations.
Competitive Landscape
The global major players in the Contrarotating Propeller Spinners Market are General Electric, Collins Aerospace, MT-Propeller, Hartzell Propeller, Safran, Textron Aviation, CR Flight, LLC, Warp Drive Incorporated, Culver Props and HOFFMANN PROPELLER GmbH & Co. KG.
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