Yahoo Finance Aircraft Nacelle and Thrust Reverser Market Poised to Reach USD 3.86 Billion by 2030: The Brainy Insights
The introduction of next-generation aircraft and the launch of new air routes are helping to boost the aircraft nacelle and thrust reverser market growth.
Newark, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global aircraft nacelle and thrust reverser market is expected to grow from USD 2.47 billion in 2021 to USD 3.86 billion by 2030, at a CAGR of 5.10% during the forecast period 2022-2030.
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The rising usage of low-drag & lightweight nacelles, increasing prominence of fleet up-gradation, and increasing industry jet demand in the Middle East & Africa also help drive the aircraft nacelle and thrust reverser market growth during the projection period. Further, the growing demand for advanced and better fuel-efficient nacelles in the aviation industry is the driving factor of the market growth. Also, the increasing defense price and subsequent demand for new battle aircraft helped drive the market growth during the forecast period. However, the high installation & maintenance price and the strict implementation and following of regulatory standards established for aircraft operations are also restraining factors for the market growth. Furthermore, technological progress is an opportunity for market growth.
Competitive Strategy
To enhance their market position in the global aircraft nacelle and thrust reverser market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, Satair Group & Safran Nacelles signed a supply agreement in February 2022 that created Safran, a lifespan supplier for supply chain services of A340 -500/600 motor nacelle spare components & parts.
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Market Growth & Trends
The aircraft nacelle and thrust reverser market is driven by the ongoing increase in living standards, rise in airport connections within the respective nations, and decreases in fares. Furthermore, the technological innovations & advancements in the military & defense enterprise due to the increasing government investments also help drive the market growth during the projection period. Further, the increase in security regulations for aircraft is the market growth trend. The airline companies create a high level of security & continuous improvement, and are aware about the safety of the passengers, so that there is no increase in the number of accidents. Thus, the governments have also utilized many workers to cross-check the security of an aircraft which is expected to promote the aircraft nacelle and thrust reverser market over the forecast period. However, the focus on developing noise-reducing & fuel-efficient nacelles is another market growth trend. . The rising demand for advanced & better fuel-efficient nacelles in the aviation enterprise is helping to drive the market growth.
Key Findings
• In 2021, the aircraft nacelle segment dominated the market with the largest market share of 30.12% and market revenue of 0.74 billion.
The product segment comprises engine build-up unit, thrust reverser, exhaust system, and aircraft nacelle. In 2021, the aircraft nacelle segment dominated the market with the largest market share of 30.12% and market revenue of 0.74 billion. This growth is attributed to the growing demand for business jets & military aircraft.
• In 2021, the commercial segment dominated the market with the largest market share of 40.15% and market revenue of 0.99 billion.
The aircraft type segment is divided into military aviation, commercial, and rotary wing. In 2021, the commercial segment dominated the market with the largest market share of 40.15% and market revenue of 0.99 billion. This growth is attributed to the digitalization of aircraft MRO services.
• In 2021, the aluminum alloys segment dominated the market with the largest market share of 41.03% and market revenue of 1.01 billion.
The material segment comprises aluminum alloys, composites, and stainless steel. In 2021, the aluminum alloys segment dominated the market with the largest market share of 41.03% and market revenue of 1.01 billion. This growth is attributed to the increasing consumption of alloys in the automobiles industry.
• In 2021, the turbofan segment dominated the market with the largest market share of 42.14% and market revenue of 1.04 billion.
The engine type segment comprises turboshaft, turboprop, and turbofan. In 2021, the turbofan segment dominated the market with the largest market share of 42.14% and market revenue of 1.04 billion. This growth is attributed to the increasing demand for lightweight & fuel-efficient aircraft in turbofan engines.
• In 2021, the original equipment manufacturer (OEM) segment dominated the market with the largest market share of 56.12% and market revenue of 1.38 billion.
The end user segment is divided into aftermarket and original equipment manufacturer (OEM). In 2021, the original equipment manufacturer (OEM) segment dominated the market with the largest market share of 56.12% and market revenue of 1.38 billion. The nacelle and thrust reversers need timely checks, maintenance, and replacements are required to improve safety. This factor helps to drive the segment market growth.
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Regional Segment Analysis of the Aircraft Nacelle and Thrust Reverser Market:
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region occurred as the largest market for the global aircraft nacelle and thrust reverser market, with a market share of 48.08% and a market value of around 1.18 billion in 2021. North America currently dominates the aircraft nacelle and thrust reverser market due to the high demand for new aircraft and the substitution of aging fleets. Furthermore, the Asia-pacific region is expected to show the fastest CAGR of 8.02% over the projection period. This growth is attributed to the proliferation of modernization agendas in the Asia-Pacific aviation industry. Moreover, increased regional passenger traffic will probably help the market's growth during the projection period.
Key players operating in the global aircraft nacelle and thrust reverser market are:
• FACC AG
• Bombardier, Inc.
• Leonardo SpA
• GKN Aerospace
• Safran
• NORDAM Group, Inc.
• Triumph Group, Inc.
• Spirit Aerosystems, Inc.
• Woodward, Inc.
• United Technologies Corporation (UTC)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global aircraft nacelle and thrust reverser market based on below mentioned segments:
Global Aircraft Nacelle and Thrust Reverser Market by Product:
• Engine Build-up Unit
• Thrust Reverser
• Exhaust System
• Aircraft Nacelle
Global Aircraft Nacelle and Thrust Reverser Market by Aircraft Type:
• Military Aviation
• Commercial
• Rotary Wing
Global Aircraft Nacelle and Thrust Reverser Market by Material:
• Aluminum Alloys
• Composites
• Stainless Steel
Global Aircraft Nacelle and Thrust Reverser Market by Engine Type:
• Turboshaft
• Turboprop
• Turbofan
Global Aircraft Nacelle and Thrust Reverser Market by End User:
• Aftermarket
• Original Equipment Manufacturer (OEM)
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About the report:
The global aircraft nacelle and thrust reverser market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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