Market Overview The market for aircraft engine blades is anticipated to register a CAGR of over 6% during the forecast period. - Demand for new engines generates demand for compressor and turbine vanes and blades.
New York, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Engine Blades Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865740/?utm_source=GNW
With the growing aviation market, new orders for fuel-efficient aircraft will continue to drive the growth of the market.
- Significant investment is taking place in the use of 3D printing for the development of vane and blade structures.
- Advancement in material technology to generate lightweight blades and fan structures is also supporting the growth of the market. Composites are one such development which is becoming a trend in engine fan blades.
Scope of the Report
The market study includes a detailed description of different blades and vanes used on different engines and competitive analysis of the companies involved. The study excludes the propellers and the aftermarket of vanes and blades.
Key Market Trends
By Application, Commercial Segment will Register the Highest CAGR during the Forecast Period
In 2018, Commercial segment accounted for a major share in the aircraft engine blades market. This is mainly due to the increasing orders for newer generation aircraft by airlines globally to replace the aging fleet and to expand their offerings. More than 2/3rd of the aviation market is dominated by turbofan engines and hence generates significant demand for fan blades, compressor vanes, and turbine blades. New aircraft programs like Boeing 777X and Comac C919 are further expected to propel the demand for aircraft engine blades from this segment. Boeing 777X is powered by GE9X. The new engine developed by GE has 3D printed low-pressure turbine blades. GE also designed advanced carbon-fiber composite fan blades for its new engine.
Asia-Pacific will Generate the Highest Demand During the Forecast Period
Asia-Pacific is currently experiencing a steep rise in the number of passengers opting for air travel. This has forced the various airlines operating in the region to expand their fleet size. According to Boeing, over 17,000 aircraft are expected to be delivered over the next two years. China and India are the major demand for generating countries. Also, several engine parts manufacturers are expanding in the Asia Pacific region along with aircraft OEMs to reduce supply chain complexity as well as to tap into the emerging potential market. Also, the increasing military spending is bolstering the military aircraft developments and procurements, and growing general aviation fleet in the region is further propelling the growth of the aircraft engine blades market in this region during the forecast period.
The aircraft engine blades market is primarily dominated by aircraft engine manufacturers. There is a growing trend wherein engine manufacturers are acquiring smaller blade manufacturers to gain access to manufacturing technology like additive manufacturing which can increase their overall production rate. Companies are tapping into emerging markets to enlarge their market presence. Rolls-Royce opened an engine assembly and test facility earlier in 2012 to manufacture hollow titanium wide chord fan blades. The facility has the production capacity of 8,600 fan blades per year. The prominent players in the aircraft engine blades market are Collins Aerospace, GE, Albany Engineered Composites, Alcoa Corporation, and Safran.
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