Commercial Aircraft Turbine Blades and Vanes Market
Commercial Aircraft Turbine Blades and Vanes Market by Aircraft type (Fixed-wing, Rotary-wing), by Engine type (Turboprop, Turboshaft, Turbofan), by Material (Steel & Nickel Alloys, Titanium Alloys, Others), and by Region - Forecast till 2023
Commercial Aircraft Turbine Blades and Vanes Market – Overview
The need to have efficient components and parts in the aviation sector is the main driving factor for commercial aircraft turbine blades and vanes. Market focused reports linked with the aerospace industry among others recently have been made available by Market Research Future which issues reports on this industry. The market is expected to achieve a CAGR of more than 6 percent approximately in the forecast period.
The tough environments in which turbine blades and vanes operate has increased the requirement for better product quality which is expanding the market considerably. Innovations in the turbine blade materials are driving the development in the forecast period as they are an important trend shaping the market. Emerging commercial aircraft markets are fuelling the development of the market further. Factors such as strict regulations relating to carbon dioxide and noise emissions, increasing fuel prices, and an upsurge in competition from low cost carriers, will incentivize manufacturers to develop a modern aero-engine design that is lightweight and fuel efficient.
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Industry Segments
The segmentation of the commercial aircraft turbine blades and vanes market is segmented on the basis of material, aircraft type, regions and engine types. The segmentation of the market on the basis of by material consists of titanium alloys, steel & nickel alloys and others. The segmentation on aircraft type comprises of rotary wing and fixed wing. The regions that are a covered in the market comprise APAC, Europe, North Africa, Middle East and Africa. The engine type segment comprises of segments such as turboprop, turboshaft, and turbofan.
Detailed Regional Analysis
The regional analysis of the market consists of regions such as North America, APAC, Europe, Middle East, Africa and rest of the world. The APAC region is poised to control the commercial aircraft turbine blades and vanes market globally through the forecast period. As per the MRFR analysis, the APAC region will carry on its control in the forecast period to achieve high growth in terms of revenue while growing at a CAGR of 8%. Whereas, the Americas and EMEA will grow at a positive CAGR of through the forecast period.
Global Competitive Analysis
The impetus for the market’s growth has altered the competitive background of the market. By ensuring supply and demand are in balance the competitors can unlock new opportunities for growth. The key players and trends have created a positive tone for development. The important trends and players have established a positive tone for development. The opportunities for growth and innovation have increased at a rapid pace transforming the landscape of the market. Engaging and converting prospective opportunities is modifying the growth pace of the market considerably. The competitors in the market have been spurred to devise strategic road-maps that capitalize on the positive market cues.
The principal competitors in the commercial aircraft turbine blades and vanes market are The Robert E. Morris Company (U.S.), GE Aviation( U.S.), Chromalloy (U.S.), Hi-Tek Manufacturing (U.S.), Moeller Aerospace (U.S.), Rolls Royce (U.K), Turbocam International (U.S.), GKN Aerospace (U.K), UTC Aerospace Systems (U.S.), and Snecma (France).
Industry Updates:
Jan 2018 An advanced Turboprop engine developed by GE Aviation is the first clean-sheet turboprop engine to enter the Business and General Aviation (BGA) market in more than 30 years, has positively finished its first engine test run at GE Aviation’s facility in the Czech Republic. It is the first turboprop engine in its class to present two phases of variable stator vanes and cooled high-pressure turbine blades, verified technologies developed by GE in its big commercial engines and has flown for more than 1.3 billion flight hours. The Advanced Turboprop engine’s large commercial and regional engines have significantly lessened engine development timing and risk.
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