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This global market research report presents a detailed analysis if the key drivers, challenges, and upcoming trends that influence the commercial aircraft turbine blades and vanes market. It also segments this market by geography and includes regions like the Americas, EMEA, and APAC. The top vendors analyzed in this market study are GE Aviation, GKN Aerospace, Rolls Royce, Turbocam, and UTC Aerospace.
Technavio’s market research analyst predicts the global commercial aircraft turbine blades and vanes market to grow at a CAGR of approximately 6% during the forecast period. The prospects for growth in this market will be driven by the increasing demand from emerging markets. Factors like high fuel prices, strict regulations about noise and carbon dioxide emissions, and an increase in competition from LCCs will compel manufacturers to develop a modern aero-engine design that is lightweight and saves fuel. This increase in the development of new aircraft will augment the demand for commercial aircraft gas turbine engines, which includes turbine blades and vanes.
Rising fuel expenses is a major concern for airline operators. According to the International Air Transport Association (IATA), fuel price accounted for 30% of the overall airline operating cost. Consequently, engine manufacturers are developing new and advanced technologies. CFM’s LEAP and GE9X engines are the next-generation fuel-efficient engines that help to reduce the weight and the overall efficiency of the aircraft. Such innovations are likely to drive the market over the next four years.
In this segmentation analysis, analysts have estimated the APAC region to be the largest market for commercial aircraft turbine blades and vanes during the forecast period. The market in APAC is anticipated to grow rapidly until 2020 owing to an increase in the demand for air travel. In 2015, the region accounted for more than 29% of the global aircraft fleet and is expected to perceive an increase in the number of aircraft fleet by 5.2% annually in the next 20 years. Much of this high demand can be attributed to the growing aviation MRO activities and aircraft parts production capabilities. This region will account for an impressive market share of more than 43% by 2020.
The global market for commercial aircraft turbine blades and vanes is highly competitive as most vendors compete on the basis of cost, component reliability and quality, and market shares. To sustain themselves in this competitive market, the vendors have to provide cost-effective and high-quality commercial aircraft turbine blades and vanes to the end users.
The leading vendors in the market are -
Other prominent vendors in the market include Chromalloy, Hi-Tek Manufacturing, Moeller Aerospace, Snecma, and Turbocam International.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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This report is available in English.
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