The global next-gen aircraft propulsion system market analysis by BIS Research projects the market to have significant growth of CAGR 18.11% during the forecast period 2025-2035.
Air pollution is increasing on the international agenda and is extensively identified as a threat to both economic progress and public health. Recently, there have been key developments in techniques that permit the quantification of air pollution-related indicators to trace growth toward the sustainable development goals and that enlarge the evidence base of the effects of air pollution on health. The following figure illustrates the current major carbon emission producers. In 2019, the total CO2e emissions amounted to 51.8 gigatons, coming from various sectors such as energy, buildings, land, transport, and industry. To reduce the carbon emissions from these sources, governments across the world launched new initiatives and promoting eco-friendly technologies.
Moreover, governments are also investing a significant amount of their resources in developing high-speed propulsion system designs such as ramjet and scramjet propulsion systems. High speed aircraft use air-breathing ramjet and scramjet engines that allow them to hover at extremely high speeds. Moreover, due to the extreme speeds, the surface of the aircraft reaches severe temperatures, which conventional materials cannot withstand; hence, exotic materials such as titanium or ceramic materials are utilized for making the surface of these vehicles. Achieving high speeds using these propulsion systems means that traveling to any two points in the world would take significantly less time.
Aviation is one of the major industries that adopt advanced technologies to enhance its operational effectiveness. Emerging markets, rapid urbanization, and a faster rise in world urban populations are boosting air traffic demand and are estimated to sustain that growth into the future.
However, achieving eco-friendly air travel comes with certain challenges. One of the key obstacles in manufacturing the electric aircraft is the power to weight ratio of the motors and batteries that are required to replace a conventional kerosene-powered engine. Another major challenge is a stringent regulatory scenario. Although with the technology advancements, both these challenges can be tackled to enable eco-friendly air travel.
The global next-gen aircraft propulsion system market analysis by BIS Research projects the market to have significant growth of CAGR 18.11% during the forecast period 2025-2035. U.S. is expected to dominate the global next-gen aircraft propulsion system market with an estimated share of 50.8% in 2035. China and U.K. are the two most prominent countries having significant share in the next-gen aircraft propulsion system market.
Commercial and Civil Market to Dominate Global Next-Gen Aircraft Propulsion System Market:
The commercial and civil industry is undergoing significant growth and the widespread use of aircraft for several applications. Moreover, the increasing deployment of UAVs in applications such as mapping, surveying, and inspection, by several companies, is expected to drive the demand for next-gen aircraft propulsion systems. In 2025, the commercial and civil segment is expected to acquire the highest market during the forecast period.
U.S. to Witness Fastest Growth in Global Next-Gen Aircraft Propulsion System Market:
The U.S. is expected to dominate the global next-gen aircraft propulsion system market in 2025 and is anticipated to uphold its dominance throughout the forecast period. Factors such as the presence of major next-gen aircraft propulsion system manufacturers and a significant investment by the U.S. Department of Defense (DoD) and several other companies are fueling the high growth rate and major share of the U.S. in the global next-gen aircraft propulsion system market. Moreover, increasing policies to reduce harmful emissions caused by air travel are enabling airlines to procure next-gen aircraft.
However, the COVID-19 pandemic left the aviation industry in a crisis much worse than those that followed both the Great Recession and 9/11 incident. A long stretch of sustained development was halted in its tracks in 2020, and the next numerous years would be devoted trying to merely get back to pre-COVID levels.
Key Questions Answered by This Report:
What are the major drivers, challenges, and opportunities behind the demand for the global next-gen aircraft propulsion system market during the forecast period 2025-2035?
Who are the key players in the global next-gen aircraft propulsion system market, and what is the competitive benchmarking?
What are the new strategies being adopted by the existing market players to make a mark in the industry?
How is each segment of the global next-gen aircraft propulsion system market expected to grow during the forecast period, and what is the anticipated revenue to be generated by each of the segments by the end of 2035?
What are the trends in the global next-gen aircraft propulsion system market across different countries? What are the revenue estimates for 2025 and 2035?
Which country is expected to contribute the most to the global next-gen aircraft propulsion system market during the forecast period?
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