This market research report includes a detailed segmentation of the global commercial aircraft (CA) drive shaft market by aircraft type (narrow-body, wide-body, and regional jets). It also outlines the market shares for key regions like the Americas, EMEA, and APAC. The top vendors analyzed in this market study are GKN Aerospace, Kaman Aerospace, Northstar Aerospace, Pankl, and UTC Aerospace Systems.
The market research analysts at Technavio estimate the global CA drive shaft market to grow at a CAGR of over 4% during the forecast period. The increasing demand from the upsurge in the number of passenger air traffic brought on by the recovering economy is the primary driver for the market. Technological advancements in the development of drive shafts and the increasing 3D printing due to its ability to create complex geometries and lattices are some of the factors that are projected to influence the growth of the global CA drive shaft market in the coming years. At present, the Americas dominate the market by accounting for a market share of over 38%. The increase in the number of aircraft and the introduction of very light jets are factors responsible for the growth of the market in this region.
The new market research report from Technavio presents a breakdown and analysis of the CA drive shaft segments by aircraft type.
“The latest trend gaining mometum in the market is the shift from conventional solid steel shafts to flexible rotatory shaft operations. Flexible shafts are mechanical power-transmission devices, used for transmitting rotary motion through bends and curves. These shafts effectively eliminate alignment problems, offer around 95% efficiency and have an economical cost of installation. Such advantages will result in the increased adoption of these shafts in the coming years,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
During 2015, the narrow body segment dominated the global CA drive shaft market by accounting for around 65% of the overall market share. This segment is expected to witness considerable growth as many new orders have been placed with the major aircraft manufacturers such as Boeing and Airbus. Major aircraft manufacturers are expected to form partnerships and alliances with other companies to support and develop engines for them to meet the increasing demand between 2016 and 2020. For example, ViaJet signed a deal worth $700 million with CFM International to provide CFM56-5B engines to power 15 Airbus aircraft of A321ceo family.
The key vendors in the global CA drive shaft market include GKN Aerospace, Kaman Aerospace, Northstar Aerospace, Pankl, and UTC Aerospace Systems. The global market for commercial aircraft drive shafts is primarily dominated by international players as they have access to better infrastructure and R&D resources. In this market, the regional and international players compete in terms of reliability, weight, size, and price to gain maximum market traction during the predicted period. The competitive environment in this market is likely to intensify due to an increase in product/service extensions, technological innovations, and M&A activities.
A more detailed analysis is available on the Technavio report, Global CA Drive Shaft Market 2016-2020.
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