Aircraft Engine Blade Market Size is projected to gain remarkable traction from 2022 to 2028, as a result of the increasing developments in turbine technology and the subsequent rise in usage of turbomachines in various applications including aircraft engines. Likewise, the growing rate of gas turbine corrosion due to its exposure to high temperatures and contaminants will further boost the jet engine turbine blade manufacturing process in the upcoming years. Turbine blade refers to the bladelike vanes assembled around the periphery of turbine rotors to guide the gas or steam flow. This material, which endures intense heat of the engine, is used in varied industries, including aviation, and consists of nickel-titanium-aluminum alloys with special ceramic coatings to resist heat.
Considerable increase in aircraft delivery is one of the major trends propelling the global aircraft engine blade market expansion through 2028. France-based Airbus, for example, delivered 424 commercial aircraft in the first 9 months of 2021, which is a 24% hike from 341 aircraft delivered during 9-months of 2020. Furthermore, the high emphasis on hybrid-electric or turbo-electric planes to reduce emission and air pollution will also generate opportunities for the development of electrically driven aircraft engine fan blades or propellers during the forecast timeline.
Based on material, the aircraft engine blade market from the composites segment is set to register an appreciable revenue by 2028. This is on account of the capability to manufacture thin, efficient airfoils from composite materials, which can bear the structural load needed for optimum aircraft operations. While composite blades require higher investment as compared to aluminum propellers, the former material may lead to greater value on repair and maintenance over time. Situations such as these, along with the myriad other advantages of composite propellers, such as lightweight, durability, and longer service life, will further proliferate the segment growth in the coming years.
The Europe aircraft engine blade market is poised to depict a strong growth rate through 2028. The regional expansion is driven by the growing number of aerospace companies and business operators that provide MRO (maintenance, repair, and overhaul) services for military and civil aircraft in the United Kingdom. In March 2021, Paul Scully, Business Minister for London, announced an investment of nearly $119 million to enhance aerospace manufacturing and secure more jobs in the country. These aforesaid factors are predicted to amplify the deployment of aircraft engine blade materials over the coming years.
GKN Aerospace (Melrose Industries), CFAN Company (Safran Aircraft Engines, GE Aviation System LLC), Rolls Royce (Bayerische Motoren Werke AG), GE Aviation, Pratt & Whitney (United Technologies Corporation, Raytheon Technologies), and Safran Aircraft Engines are some of the key players in the market. Strategic mergers and acquisitions are some of the initiatives being undertaken by these firms to reinforce their presence in the competitive market.
For instance, in July 2021, GKN Aerospace and KTH announced the joint development of fan technology for smaller electric aircraft with an aim to meet sustainability goals. In June 2021, Safran and GE Aviation launched a development program for an open fan airliner engine design for improved efficiency.
The novel coronavirus outbreak has posed a profound impact on aerospace suppliers worldwide. The effect was mainly owing to the reduction in demand, financial strain, workforce impairment, and supply interruptions during the peak of the pandemic. Factors such as these have created roadblocks to the steady growth of the industry in recent months. However, the significant increase in spending on the military sector may aid the industry recovery, given the deployment of turbine engine blades in military aircraft.