Aircraft Engine Blade Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Technological Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3319
Aircraft Engine Blade Market size is predicted to observe healthy CAGR during the forecast period impelled by increasing aircraft production on account of improving air passenger travel along with the proliferation of low-cost carriers. Increasing defense budget globally are providing a positive outlook for the industry expansion.
Technological advancements in the product are expected to significantly boost the aircraft engine blade market share over the projected timeframe. For instance, in 2017, Rolls Royce launched its single-crystal turbine blades, that are made with the combination of nickel and aluminum alloys. Additionally, the single-crystal structure enables for bearing heavier mechanical loads resulting from the high rotational speeds, thereby improving efficiency.
Industry players are continuously investing and upgrading their manufacturing and production technologies for improving their product performance and maximize output. For instance, in 2019, Boeing showcased its 777x aircraft, that incorporates advanced turbine blades manufactured using 3D printing technologies by GE. Moreover, the printed parts offer superior strength and lower weight, thereby improving the power to weight ratio of flights significantly.
Stringent regulatory policies and standards are promoting aviation safety and are providing a positive outlook for the aircraft engine blade market expansion. For instance, in April 2018, the Federal Aviation Administration (FAA) announced the inspections of aircrafts operating in the U.S. These encourages industry participants to continuously test and evaluate their engine blade products appropriately prior to commercializing.
Based on aircraft, the industry is segmented into commercial aircraft, business aircraft, regional aircraft, military aircraft, and helicopters. Military aircrafts will account for a significant share over the projected timeframe. This can be credited to the increasing military and defense budget globally. For instance, the U.S. government proposed a defense budget of around USD 720 billion for the FY 2020.
The aircraft engine blade market share based on type can be classified into fan blades, compressor blades, and turbine blades. The fan blades will account for a significant share over the projected timeframe. This can be credited to the usage of these blades for carrying out the aircraft propulsion operations. Additionally, the advanced intake, compression, power, and exhaust operations carried out by such fans for efficient flight operation further strengthens the segment share.
Based of material, the aircraft engine blade market share is segmented into titanium & alloys, composites, aluminum & alloys, and steel. Titanium blades are expected to showcase a considerable growth on account of the benefits offered by the material including superior strength and lower weight. The increasing adoption of titanium for new engine variants including Leap engines further expands the segment size over the forecast timeframe.
The aircraft engine blade market share based on fit can be classified into line fit and retrofit. Retrofit will account for a considerable growth owing to the requirement for replacements after certain flight cycles to maintain airworthiness. Additionally, the continuous blade operation across diversified altitude and climatic conditions contributes towards wear and tear, thereby supporting the segment share expansion over the study timeframe.
North America will account for a significant share in the aircraft engine blade market. This can be attributed to the presence of multiple industry players including GE Aviation, CFM International, and Pratt & Whitney among others offering their components and parts to major aircraft manufacturers. Additionally, industry players are also investing in expanding their business and production plants across the region for supporting aircraft production. For instance, in March 2018, GE Aviation announced an investment of up to USD 105 million for expanding its production capabilities in North Carolina plants.
Some of the major players operating in the aircraft engine blade market share include Safran Aircraft Engines, Pratt & Whitney, GE Aviation, Rolls Royce, CFAN Company, and GKN Aerospace. Industry players are continuously investing in R&D for developing advanced aircraft engine blade for improving aircraft durability and reliability. For instance, in 2019, Rolls Royce announced the development of redesigned intermediate pressure compressor blade for Trent 1000 engines.
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