Aeroengine Fan Blades Market to reach US$ 8,059.8 million in 2023

The Aeroengine Fan Blades Market: Highlights

Fan blades are among the most important components of an aircraft engine. There has been an evolutionary change in the design, size, structures, materials, and manufacturing process of fan blades over the past few decades. A large number of experimental and computational analysis have been carried out in engine fan blades, which have resulted in change in design and efficiency of blades. Lightweight, increased engine thrust and efficiency, low-operating-cost, and laminar airflow into the engine are some focal points of development that are being achieved through the advancements in fan blade technologies.

As per Stratview Research, the global aeroengine fan blades market is projected to grow at a healthy rate over the next five years to reach US$ 8,059.8 million in 2023. Organic growth of the aircraft industry, increasing share of wide-body aircraft in commercial aircraft deliveries, increasing penetration of composite fan blades in newer aircraft engines, increasing fan diameters of newer aircraft, and an expected increase in production of LEAP engines, are the key growth drivers of aeroengine fan blades market.

Aeroengine Fan Blades Market, By Aircraft Type

The global aeroengine fan blades market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, Business Aircraft, and Military Aircraft. Narrow- and wide-body aircraft are likely to remain the growth engines of the market during the forecast period. Increasing production rates of key programs, such as B737, A320 family, B787, and A350XWB; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777x; and an increasing demand for lightweight composite fan blades are likely to offer a sustainable growth platform for fan blades in these segments in the coming years.

Aeroengine Fan Blades Market, By Engine Type

Based on the engine type, turbofan aeroengine fan blades are likely to remain the most dominant as well as the fastest-growing segment of the market during the forecast period. Turbofan engines are the most commonly used engine type in the commercial aircraft, which is the major why and wherefore behind their dominance in the market. Increasing production of turbofan engines to support the increasing commercial aircraft production rates, as well as increasing penetration of lightweight composite fan blades, are substantiating the demand for fan blades in the engine segment.

Aeroengine Fan Blades Market, By Material Type

Based on the material type, titanium blades are likely to remain the most dominant material type in the market during the forecast period of 2018 to 2023, whereas composite blades are likely to experience the highest growth during the same period, driven by their usage in the newer variants of engines, such as LEAP engines, which are empowering the world’s best-selling model’s fuel-efficient variants (B737 max and A320neo) and GEnx engine empowering B787. Aeroengine fan blades have been undergoing a disruptive transformation from the traditional metallic blades to composite blades. Epoxy resin with carbon fiber is the predominantly used material type for manufacturing composite fan blades. These materials are giving good competition to the most widely used material for fan blades i.e. Titanium.

Aeroengine Fan Blades Market, By Region

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size.

North America is projected to remain the largest market during the forecast period, driven by the world’s leading aeroengine manufacturers i.e. GE Aviation, CFM International, and Pratt & Whitney. Most of the major engine manufacturers have assembly plants in the region to support major aircraft OEMs. The USA is likely to remain the growth engine of the region’s market over the next five years.

The supply chain of this market comprises raw material suppliers, aeroengine fan blade manufacturers, engine manufacturers, aircraft OEMs, airlines, and aircraft leasing companies. Key aeroengine fan blade manufacturers are Safran Aircraft Engines, GE Aviation, Pratt & Whitney, Rolls-Royce, Albany/Safran, CFAN Company, and GKN Aerospace. Development of lightweight fan blades with an ease of manufacturing process, reduced operational cost, improved thrust or performance and formation of strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Link:- https://www.stratviewresearch.com/348/Aeroengine-Fan-Blades-Market.html