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The aircraft engine nacelle market size is estimated to increase by USD 2,443.36 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 6.15%. The growth of the market depends on several factors, including technical advancements in existing engine and nacelle technology, an increase in demand for new-generation, fuel-efficient aircraft, and the availability of aircraft and engine leasing options for airline operators.
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The increase in demand for new-generation, fuel-efficient aircraft is notably driving the market growth, although factors such as delays in engine delivery and failure due to technical malfunctions may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for new-generation, fuel-efficient aircraft is a major driver of the global market. As commercial airlines strive to reduce operating costs and environmental impact, there is a growing interest in more fuel-efficient aircraft. This equipment nacelles play an important role in improving the fuel efficiency of an aircraft. The nacelle is an aerodynamic structure that surrounds the engine and serves to reduce drag and improve airflow around the engine. This increases the overall efficiency of the aircraft and reduces fuel consumption.
Additionally, the growing demand for air travel, especially in emerging markets, is also increasing the need for more fuel-efficient aircraft. As passenger numbers continue to grow, airlines are looking to modernize their fleets with new, more efficient aircraft to meet customer demand and remain competitive in the market. Thus, rising demand for a new generation of fuel-efficient aircraft is a major driver of the global market, as commercial airlines look to upgrade their fleets and improve operational efficiency.
Downsizing of aircraft engine nacelles is the key trend in the market. In the global market, engine nacelles have become smaller in recent years. This trend is driven by the need for lighter weight and improved fuel efficiency. One of the ways of miniaturizing engine nacelles is by using advanced materials such as composites and titanium that are both lightweight and strong. These materials replace traditional materials such as aluminum and steel, which are heavy and less efficient.
Another way to downsize the engine nacelle is to use a more streamlined design. Reducing nacelle size and complexity can reduce drag and improve overall aircraft aerodynamics. This provides significant fuel savings over the life of the aircraft. Overall, the trend to downsize is likely to continue during the forecast period as airlines look for ways to reduce costs and improve efficiency. This requires continued investment in new materials, technologies, and design processes to ensure that miniaturized nacelles continue to meet the safety, reliability, and performance standards demanded by the aviation industry. This trend will positively influence the market growth during the forecast period.
Delays in engine delivery and failure due to technical malfunctions may challenge the growth of the market. The early stages of aircraft engine and component production present significant challenges for aircraft manufacturers due to their high costs. Engine manufacturers only make a profit if their engines or components are produced in large quantities.
This equipment consists of numerous parts and components that are sourced from component suppliers. Technical or production-related delays at these suppliers delay the delivery of engines to aircraft manufacturers. In many situations, engine manufacturing and supply chain delays cause aircraft manufacturers to miss scheduled aircraft deliveries to customers. In addition, airline operators face huge losses due to technical issues that may arise with newly developed engines. Such factors may hinder the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aernnova Aerospace SA: The company offers aircraft engine nacelle for ERJ 135 140 145 under its subsidiary Embraer.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the commercial aircraft segment will be significant during the forecast period. The commercial aircraft segment of the global market can be divided further into several sub-segments, namely narrow-body, wide-body, regional jets, and others, based on the size and type of the aircraft, as well as the specific application of the nacelle.
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The commercial aircraft segment showed a gradual increase in the market share of USD 4,553.94 million in 2017 and continue to grow by 2021. Aircraft engines consist of numerous parts and components that are sourced from component suppliers. Technical or production-related delays at these suppliers delay the delivery of engines to aircraft manufacturers. In many situations, engine manufacturing and supply chain delays cause aircraft manufacturers to miss scheduled aircraft deliveries to customers. In addition, airline operators face huge losses due to technical issues that may arise with newly developed engines. Such factors may hinder the growth of the global market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. All aircraft manufacturers in the region are competing with Asian and European manufacturers to increase their global market share. This gave Tier 1 and Tier 2 suppliers in the region additional opportunities to increase their production capacity. It also attracts foreign component suppliers to expand their base and invest in the region to work with major North American OEMs.
North America dominates the military aircraft market, accounting for more than one-third of the global military aircraft market share. This is primarily driven by the military funding programs of several countries in the region, such as the Joint Strike Fighter Program in the US. Other programs conducted by the United States include the procurement of the Poseidon P8A aircraft and the KC-46 Pegasus. Additionally, the United States plans to replace its aging B-2 Spirit stealth bomber fleet with long-range Strike B bombers by 2025. Such factors drive the growth of the regional market.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is driven by advancements in aerospace & defense research, focusing on aircraft parts and engine housing, with a keen eye on key market trends and major players like Raytheon Technologies Corporation and Collins Aerospace Systems. Recent developments include collaborations with companies like Boom Supersonic and advancements in additive manufacturing technology.
The market, particularly in the Asia-Pacific region, is witnessing significant growth fueled by the modernization of fleets and the increasing demand for fuel-efficient engines. Commercial aviation, military aviation, and business jets are key segments driving revenue share, with Boeing and Airbus leading structural enhancements for nacelles. Notably, 3D printing technology is revolutionizing the production of aircraft engine nacelles, optimizing performance and reducing the size of smaller parts.
Aircraft Engine Nacelle Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.15% |
Market growth 2023-2027 |
USD 2,443.36 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.85 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adecco Group AG, Aernnova Aerospace SA, Arkwin Industries Inc., Aviagroup Industries, Barnes Group Inc., Bombardier Inc., Cadence Aerospace LLC, DRB HICOM Berhad, FACC AG, Kawak Aviation Technologies Inc., Leonardo Spa, Magellan Aerospace Corp., Melrose Industries Plc, MSM aerospace fabricators Ltd, Raytheon Technologies Corp., Safran SA, Singapore Technologies Engineering Ltd., Spirit AeroSystems Inc., The Nordam Group LLC, and Triumph Group Inc. |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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