Aeroengine Fan Blade Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3042
Aeroengine Fan Blades Market size is excepted to grow extensively over the forecast period due to increasing aircraft production across the globe on account of proliferation of low-cost carrier services and improved airline networks. Increasing disposable income coupled with expanding tourism sector is further supporting the industry growth over the study timeframe.
The growing preference for high bypass ratio turbofan engines for increasing the thrust-to-weight ratio and improving fuel efficiency is positively influencing the aeroengine fan blades market share over the forecast period. The continuous requirement for fans to generate thrust along with aerodynamic design requirements is strengthening the business share till 2024.
Industry participants are engaged in the R&D for introducing lightweight solutions to lower the overall aircraft weight and to increase its efficiency. For instance, the LEAP engine offered by CFM International is made of 3D woven composites utilizing the Resin Transfer Molding process and features the revolutionary fan blade technology. This significantly lowers the engine weight, thereby reducing fuel consumption and nitrogen oxide emissions, providing a positive outlook for aeroengine fan blades market expansion.
Improvements in corrosion resistance of the blades for operating across diversified altitudes and climates are providing a positive outlook for the business proliferation. Industry participants are engaged in using a wide range of materials including shape memory alloys (SMA) and tungsten carbide (WC) for offering improved vibration damping and improved resistance, thereby positively influencing the aeroengine fan blades market share over the study timeframe.
Recent advancements in manufacturing processes, analytical computing, and material technology are cementing the aeroengine fan blades market penetration. For instance, in 2015, the NASA performed the testing of a new fan and inlet design named propulsor for increased aircraft fuel efficiency. Moreover, the use of polymer matrix composite materials for fan blades is gaining significant traction owing to weight reduction. Design optimization of the fan blade for enhanced core and bypass performance is creating potential opportunities for innovative advancements in the market place.
Based on engine, the aeroengine fan blades market is classified into turbojet, turbofan, and turboprop. Turbofan technology enhances the engine bypass ratio and turbine inlet temperature, resulting in improved performance & superior fuel efficiency. Aircraft manufacturers including Airbus and Boeing incorporate the turbofan technology into their aircraft including Boeing 737 and Airbus 320, positively influencing the market growth till 2024.
Based on material, the aeroengine fan blades market is categorized into titanium alloys, aluminum, 3D reinforced composites, and carbon fiber. Forged aluminum fan blades offer lightweight solutions, enabling improved fuel and cost efficiency. Industry players including Safran is engaged in the design & development of 3D woven composite technology, offering superior strength with lightweight components. With the combination of high specific strength and enhanced corrosion resistance, titanium alloys exhibit a robust growth, posing as an ideal material for aero engine fan blades.
Based on aircraft, the segment is distinguished into commercial aviation, regional jets, business aviation, and military aircraft. The availability of a wide range of aircraft at varying price range targeting diversified customers is supporting the segment growth over the projected timeframe. Increasing demand for private aircraft along with an increasing preference for commercial aircraft owing to the proliferation of low-cost carriers is supporting the aeroengine fan blades market growth till 2024.
Based on the distribution channel, the aeroengine fan blades industry is classified as OEM and MRO. Increasing production of aircraft along with continuous and long-term agreements with suppliers for reducing backlogs and maintaining production levels for meeting market demand is strengthening the market size. Stringent maintenance requirements for aircraft along with periodic replacements and repairs after specific flight cycles are supporting the aeroengine fan blades market proliferation till 2024.
North America will contribute significantly toward the aeroengine fan blades market share owing to the presence of major aircraft manufacturers across the region. Further, improvements in handling air passengers and freight across major airports in North America are providing significant prospects for the regional growth till 2024. Asia Pacific will showcase a considerable growth rate owing to the proliferating air traffic across the region. Further, the emergence of low-cost carriers offering low-cost air tickets for major tourist places is accelerating the regional share over the study timeframe.
Few players in the aeroengine fan blades marketplace include CFM International, GE Aviation, Safran, Pratt & Whitney, CFAN Company, GKN A, and Rolls-Royce, among others. Strategic joint ventures and partnerships are among the prominent strategies adopted by the industry participants for improving their market share. For instance, GKN Aerospace collaborated with Rolls Royce for building a manufacturing facility for producing all-composite engine fan blades. Further, in September 2017 Rolls-Royce announced the availability of UltraFan engine, incorporating Carbon Titanium (C-Ti) into the fan blades for delivering a higher degree of power and efficiency.
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