Aircraft Nacelle Systems Market - Industry Analysis, Forecast, and Growth Opportunity.
The Aircraft Nacelle Systems Market: Highlights
The global aircraft nacelle systems market is
projected to reach an estimated value of US$ 9.8 billion in 2023. The upward
trajectory of the aircraft nacelle systems market is expected to continue with
vigorous growth opportunities across regions for both existing as well as new
players. The biggest factor mushrooming the market for aircraft nacelle systems
is an organic growth in aircraft deliveries. Boeing anticipated that there
would be total deliveries of 41,030 commercial aircraft worth US$ 6.1 trillion
in the global marketplace during 2017-2036. Asia-Pacific and North America
would be the biggest demand generators with a combined share of 60.2% of the
total commercial aircraft deliveries during 2017-2036. An expected healthy CAGR
of 4.7% in air passenger traffic during 2017-2036 will chiefly drive the demand
for commercial aircraft. This factor will create a sustainable demand for nacelle
systems globally in the foreseeable future.
In addition to that, Boeing and Airbus had a
combined total order backlog of 13,219 commercial aircraft by the end of 2017.
These huge pile of order backlogs of commercial aircraft will allow both
airframers to roll out their aircraft continuously for the next nine years at
current build rates. However, they have strategically been raising the
production rates of their key commercial aircraft programs in order to deliver
aircraft to their widespread clients at a shorter period of time. Also, they
have been introducing fuel-efficient variants of their best-selling aircraft
programs with the purpose to address the biggest requirement of the airline
industry, which is the fuel-efficient aircraft.
Airlines’ requirement of fuel-efficient aircraft is
also leaving a significant imprint on the aircraft nacelle systems market. Most
of the nacelle integrators are closely working with the OEMs and other industry
stakeholders in order to develop lightweight nacelles with enhanced
performance. This is another factor driving the demand for advanced lightweight
nacelle systems.
Another trend stimulating the design of nacelle and
its demand is an incessant increase in the diameter of engine fan blades. Major
next-generation commercial aircraft are coming with large-sized engine fan
blades in order to generate a higher thrust. They are increasingly making
engine fan blades for their next-generation aircraft with advanced composites.
Nacelle integrators along with OEMs are developing large-sized nacelles to
easily accommodate such large-sized fan blades.
Global
Aircraft Nacelle Systems Market - Insights by
Aircraft type
The global aircraft nacelle systems market is
segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body
Aircraft, Very Large Aircraft, Regional Aircraft, Business Jet, and Military
Aircraft. Narrow-body aircraft is expected to remain the growth engine of the
global aircraft nacelle systems market during the forecast period, propelled by
the introduction of fuel-efficient variants of best-selling programs (A320neo
and B737 Max). Both commercial aircraft airframers (Boeing and Airbus) are enjoying
huge order backlogs of their key aircraft programs and are increasing the
production rates of A320 and B737 to meet the growing demand.
Based on the material type, the aircraft nacellesystems market is segmented as Composites, Nickel Alloys, Titanium, and Others.
Composite is expected to remain the material of choice in the aircraft nacelle
systems market during the forecast period. There has been an incessant
replacement of metals with composite components, owing to their excellent
strength-to-weight ratio at a relatively low weight. Titanium material is
expected to witness the highest growth in the market during the same period,
driven by an increasing penetration, especially in exhaust components.
Global
Aircraft Nacelle Systems Market - Insights by
Region
Based on the regions, North America is expected to
remain the largest aircraft nacelle systems market during the forecast period,
whereas Asia-Pacific is expected to experience the highest growth during the
same period. The highest growth of aircraft nacelle systems in Asia-Pacific is
mainly attributable to the increasing aircraft fleet to support rising
passenger traffic; the opening of assembly plants of Boeing and Airbus of B737,
A320, and A330 aircraft programs; increasing procurement of military aircraft,
owing to rising defense budget; and upcoming indigenous commercial and regional
aircraft (C919 and MRJ).
The supply chain of this market comprises raw
material suppliers, nacelle component manufacturers, nacelle integrators,
engine OEMs, aircraft OEMs, and airline companies. The key aircraft nacelle
system manufacturers are UTC Aerospace Systems, Safran S.A., Spirit
AeroSystems, Inc., GE Aviation, GKN Aerospace, Bombardier (Short Brother PLC),
and Leonardo S.p.A. Development of lighter nacelle systems, regional expansion,
and mergers & acquisitions are the key strategies adopted by the major
players to gain a competitive edge in the market.
Research Methodology
This report offers high-quality insights and is the
outcome of detailed research methodology comprising extensive secondary
research, rigorous primary interviews with industry stakeholders and validation
and triangulation with Stratview Research’s internal database and statistical
tools. More than 1,000 authenticated secondary sources, such as company annual
reports, fact book, press release, journals, investor presentation, white
papers, patents, and articles have been leveraged to gather the data. About 10
detailed primary interviews with the market players across the value chain in
all four regions and industry experts have been executed to obtain both
qualitative and quantitative insights.
Report link- https://www.stratviewresearch.com/313/Aircraft-Nacelle-Systems-Market.htmlFor more information, contact
Stratview Research
Email: sales@stratviewresearch.com
Direct: +1-313-307-4176
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