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Aeroengine Fan Blade Market in North America Region is Expected to Grow Exponentially By 2024

Author : Ronak Bora | Published Date : 2019-05-23 

Global Market Insights adds global Aeroengine Fan Blade Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

North America will contribute significantly toward the aeroengine fan blade market share owing to the presence of major aircraft manufacturers across the region. Further, improvements in handling air passengers and freight across major airports in North America are providing significant prospects for the regional growth till 2024. Asia Pacific will showcase a considerable growth rate owing to the proliferating air traffic across the region. Further, the emergence of low-cost carriers offering low-cost air tickets for major tourist places is accelerating the regional share over the study timeframe.

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Based on engine, the aeroengine fan blade market is classified into turbojet, turbofan, and turboprop. Turbofan technology enhances the engine bypass ratio and turbine inlet temperature, resulting in improved performance & superior fuel efficiency. Aircraft manufacturers including Airbus and Boeing incorporate the turbofan technology into their aircraft including Boeing 737 and Airbus 320, positively influencing the market growth till 2024.

The growing preference for high bypass ratio turbofan engines for increasing the thrust-to-weight ratio and improving fuel efficiency is positively influencing the aeroengine fan blade market share over the forecast period. The continuous requirement for fans to generate thrust along with aerodynamic design requirements is strengthening the business share till 2024.

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Improvements in corrosion resistance of the blades for operating across diversified altitudes and climates are providing a positive outlook for the business proliferation. Industry participants are engaged in using a wide range of materials including shape memory alloys (SMA) and tungsten carbide (WC) for offering improved vibration damping and improved resistance, thereby positively influencing the aeroengine fan blade market share over the study timeframe.

Based on aircraft, the segment is distinguished into commercial aviation, regional jets, business aviation, and military aircraft. The availability of a wide range of aircraft at varying price range targeting diversified customers is supporting the segment growth over the projected timeframe. Increasing demand for private aircraft along with an increasing preference for commercial aircraft owing to the proliferation of low-cost carriers is supporting the aeroengine fan blade market growth till 2024.

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Industry participants are engaged in the R&D for introducing lightweight solutions to lower the overall aircraft weight and to increase its efficiency. For instance, the LEAP engine offered by CFM International is made of 3D woven composites utilizing the Resin Transfer Molding process and features the revolutionary fan blade technology. This significantly lowers the engine weight, thereby reducing fuel consumption and nitrogen oxide emissions, providing a positive outlook for aeroengine fan blade market expansion.

Aeroengine Fan Blade Market is expected to grow extensively over the forecast period due to increasing aircraft production across the globe on account of proliferation of low-cost carrier services and improved airline networks. Increasing disposable income coupled with expanding tourism sector is further supporting the industry growth over the study timeframe.

Few players in the aeroengine fan blade marketplace include CFM International, GE Aviation, Safran, Pratt & Whitney, CFAN Company, GKN A, and Rolls-Royce, among others. Strategic joint ventures and partnerships are among the prominent strategies adopted by the industry participants for improving their market share. For instance, GKN Aerospace collaborated with Rolls Royce for building a manufacturing facility for producing all-composite engine fan blades. Further, in September 2017 Rolls-Royce announced the availability of Ultra Fan engine, incorporating Carbon Titanium (C-Ti) into the fan blades for delivering a higher degree of power and efficiency.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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