This global market research report presents a detailed analysis if the key drivers, challenges, and upcoming trends that influence the commercial aircraft turbine blades and vanes market. It also segments this market by geography and includes regions like the Americas, EMEA, and APAC. The top vendors analyzed in this market study are GE Aviation, GKN Aerospace, Rolls Royce, Turbocam, and UTC Aerospace.
Technavio’s market research analysts estimate the global commercial aircraft turbine blades and vanes market to grow at a CAGR of almost 6% between 2016 and 2020. The growing demand for improved aero-engine components to bring down the operational costs is the primary driver for this market. The increase in aircraft and aero-engine sales are expected to reflect positively on the growth of the market during the forecast period. At present, APAC dominates the global commercial aircraft turbine blades and vanes market by accounting for over 39% of the overall market share. The huge aviation market base is the key driver for the market growth in this region.
The new market research report from Technavio presents a breakdown and analysis of the commercial aircraft turbine blades and vanes segments by aircraft size configuration.
“The growth in parts manufacturer approval (PMA) strength is the latest trend that will positively influence the market growth in the coming years. PMA providers are striving to use the increasing demand for new aircraft production as an opportunity to gain market share and make their products more widely available in the market. Innovation in terms of components and materials used in the manufacture of aircraft turbines and blades is also expected to influence the market growth,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
Currently, the narrow-body turbine blades and vanes segment dominates the market, accounting for a market share of over 80%. The increase in the sales of commercial aircrafts such as the Boeing 737 and Airbus A320 is one of the key influential factors in the growth of narrow-body turbine blades and vanes vertical of the global commercial aircraft turbine blades and vanes market over the forecast period.
The key vendors in the market include GE Aviation, GKN Aerospace, Rolls Royce, Turbocam, and UTC Aerospace. The global market for commercial aircraft turbine blades and vanes is highly competitive as most vendors compete on the basis of cost, component reliability and quality, and market shares. To sustain themselves in this competitive market, the vendors have to provide cost-effective and high-quality commercial aircraft turbine blades and vanes to the end users.
A more detailed analysis is available on the Technavio report, Global Commercial Aircraft Turbine Blades and Vanes Market 2016-2020.
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