Press release
High-Performance Aircraft Engine Blades Shaping the Skies
According to The Business Research Company's, The aircraft engine blade market size has grown strongly in recent years. It will grow from $15.4 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to aerospace industry growth, increased air travel demand, military aviation needs, r&d in materials science, demand for fuel efficiency, rise in low-cost carriers.
The aircraft engine blade market size is expected to see strong growth in the next few years. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to stringent aviation safety standards, electrification of aviation, integration of additive manufacturing, growing regional aviation markets, renewal of aging aircraft fleets. Major trends in the forecast period include strategic alliances in aerospace, data-driven engine maintenance, advancements in blade coating technologies, lightweight structures, incorporation of 3d printing technology, integration of sensor technologies.
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Market Drivers and Trends:
The surge in adopting cost-effective and fuel-efficient aircraft is expected to propel the growth of the aircraft engine blade market going forward. Cost-effective and fuel-efficient aircraft are designed to reduce operating costs and improve environmental sustainability, and they are equipped with advanced technologies to enhance fuel efficiency, reduce emissions, and lower maintenance costs. Aircraft engine blades are used in various cost-effective and fuel-efficient aircraft that increase their durability. For instance, in July 2022, as per the Commercial Market Outlook (CMO) 2022 released by the Boeing Company, a US-based aircraft industry company, the demand for fuel-efficient aircraft would rise to 41,000 airplanes by 2041. Therefore, the surge in adopting cost-effective and fuel-efficient aircraft drives the aircraft engine blade market.
Advancements in composite materials are a popular trend in the aircraft engine blade market. Major companies operating in the aircraft engine blade market are focused on advancements in composite materials for production to reinforce their position in the market. For instance, in April 2022, Rostec, a Russia-based industrial conglomerate corporation, introduced unique technologies for producing aircraft engine blades, using high-precision equipment and specialized materials such as titanium alloy to create blades with high-performance characteristics. This is driven by the growing demand for more fuel-efficient and environmentally friendly aircraft, which helps to reduce fuel consumption and emissions.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
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Major Key Players of the Market:
CFM International; General Electric Company; Rolls-Royce Holdings plc; MTU Aero Engines AG; Albany International Corporation; Doncasters Group Limited; Safran S.A.; Farinia S.A.; RTX Corporation; AeroEdge Co. Ltd.; GKN Aerospace Pvt. Ltd.; Honeywell International Inc.; Alcoa Corporation; Hi-Tek Manufacturing Pvt. Ltd.; Aviadvigatel OJSC; PowerJet Engineering LLP; Textron Inc.; Pratt & Whitney; Perm Engine Corporation; Omsk Engine Design Bureau; Aviastar-SP JSC; Howmet Aerospace Inc.; Precision Castparts Corp.; Avio Aero; Mitsubishi Heavy Industries Ltd.; IHI Corporation; Kawasaki Heavy Industries Ltd.; Siemens AG; Leonardo S.p.A.; Liebherr Group
Aircraft Engine Blade Market 2024 Key Insights:
• The aircraft engine blade market will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Fuel-Efficient Aircraft Revolutionizing The Aircraft Engine Blade Market
• Forging The Future Composite Material Innovations In Aircraft Engine Blades
• North America was the largest region in the aircraft engine blade market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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