Global Aeroengine Fan Blades Market to Reach US$ 8,059.8 million in 2023.
The Global Aeroengine Fan Blades Market: Highlights
Fan blades are among the most important components of an aircraft
engine. There has been an evolutionary change in the design, size, structures,
materials, and manufacturing process of fan blades over the past few decades. A
large number of experimental and computational analysis have been carried out
in engine fan blades, which have resulted in change in design and efficiency of
blades. Lightweight, increased engine thrust and efficiency,
low-operating-cost, and laminar airflow into the engine are some focal points
of development that are being achieved through the advancements in fan blade
technologies.
Curved, Lighter, Thinner, and Fewer are the four big needs in
aeroengine fan blades observed in the industry. Composites have gradually been
becoming the material of choice for achieving these four industry needs.
Besides being thinner and fewer in number; composite fan blades also spin
faster that ultimately helps to generate higher thrust and by-pass ratio. GE
Aviation was the first company to incorporate carbon composite materials in
aero engine fan blades for a jet engine. The era of composite fan blades
started way back in the 1990s with GE’s GE90 engine powering Boeing 777
aircraft program. This became a huge success for GE Aviation as it helped
B777 in gaining excellent thrust and be among the most fuel-efficient and
reliable commercial aircraft. GE Aviation’s success in composite fan blades
influenced its adoption in succeeding generations of commercial engines
including GEnx and the new GE9X.
As per Stratview Research, the global aeroengine fan blades market
is projected to grow at a healthy rate over the next five years to reach US$
8,059.8 million in 2023. Organic growth of the aircraft industry, increasing
share of wide-body aircraft in commercial aircraft deliveries, increasing
penetration of composite fan blades in newer aircraft engines, increasing fan
diameters of newer aircraft, and an expected increase in production of LEAP
engines, are the key growth drivers of aeroengine fan blades market.
Global aeroengine fan blades market - Insights by Aircraft Type
The global aeroengine fan blades market is segmented based on the
aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft,
Regional Aircraft, Business Aircraft, and Military Aircraft. Narrow- and
wide-body aircraft are likely to remain the growth engines of the market during
the forecast period. Increasing production rates of key programs, such as B737,
A320 family, B787, and A350XWB; market entry of new players, such as COMAC and
Irkut; introduction of variants of existing best-selling aircraft programs,
such as B737 max, A320neo, and B777x; and an increasing demand for lightweight
composite fan blades are likely to offer a sustainable growth platform for fan
blades in these segments in the coming years.
Based on the engine type, turbofan aeroengine fan blades are
likely to remain the most dominant as well as the fastest-growing segment of
the market during the forecast period. Turbofan engines are the most commonly
used engine type in the commercial aircraft, which is the major why and
wherefore behind their dominance in the market. Increasing production of
turbofan engines to support the increasing commercial aircraft production
rates, as well as increasing penetration of lightweight composite fan blades,
are substantiating the demand for fan blades in the engine segment.
Global aeroengine fan blades market - Insights by Material Type
Based on the material type, titanium blades are likely to remain
the most dominant material type in the market during the forecast period of
2018 to 2023, whereas composite blades are likely to experience the highest
growth during the same period, driven by their usage in the newer variants of
engines, such as LEAP engines, which are empowering the world’s best-selling
model’s fuel-efficient variants (B737 max and A320neo) and GEnx engine
empowering B787. Aeroengine fan blades have been undergoing a disruptive
transformation from the traditional metallic blades to composite blades. Epoxy
resin with carbon fiber is the predominantly used material type for
manufacturing composite fan blades. These materials are giving good competition
to the most widely used material for fan blades i.e. Titanium.
Based on regions, North America is projected to remain the largest
market during the forecast period, driven by the world’s leading aeroengine
manufacturers i.e. GE Aviation, CFM International, and Pratt & Whitney.
Most of the major engine manufacturers have assembly plants in the region to
support major aircraft OEMs. The USA is likely to remain the growth engine of
the region’s market over the next five years.
Asia-Pacific is likely to witness the highest growth during the
same period, driven by a host of factors including increasing demand for
commercial aircraft to support rising passenger traffic, opening of assembly
plants of Boeing and Airbus for B737, A320, and A330 aircraft programs;
upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi
MRJ), and rising aircraft fleet size.
The supply chain of this market comprises raw material suppliers,
aeroengine fan blade manufacturers, engine manufacturers, aircraft OEMs,
airlines, and aircraft leasing companies. Key aeroengine fan blade manufacturers
are Safran Aircraft Engines, GE Aviation, Pratt & Whitney, Rolls-Royce,
Albany/Safran, CFAN Company, and GKN Aerospace. Development of lightweight fan
blades with an ease of manufacturing process, reduced operational cost,
improved thrust or performance and formation of strategic alliances are the key
strategies adopted by the major players to gain a competitive edge in the
market.
For more information, contact
Stratview Research
Email: sales@stratviewresearch.com
Direct: +1-313-307-4176
Comments
Post a Comment