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Aircraft Nacelle Components Market to Garner a Commendable Growth from Narrow body Application by 2024

Author : Ronak Bora | Published Date : 2019-04-16 

The qualitative research study introduced by Global Market Insights, Inc. on Aircraft Nacelle Components Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry.

Increasing use of air transport for passenger and good transportation creates need to increase air fleet across the globe. In 2016, aviation industry accounted for about 3.8 billion passenger transports and 54.9 million tons of goods were delivered. Airline traffic increased by 4.8% worldwide and airplane fleet size increased by 3.6%. Airline companies expanding their fleet size will drive the demand for aircraft nacelle components market.

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Based on application, the aircraft nacelle components market is categorized in to narrow body, wide body, very large body, regional and military airplanes. Narrow body will drive the industry demand supported by fuel efficient airplanes such as B737 max and A320 neo. Increasing demand for wide body planes in commercial and business purpose will drive the industry during forecast period. Growth in military is credited to increasing military spending for fleet upgradation. 

Based on component, aircraft nacelle components market is categorized in to thrust reverser, fan cowl, inlet cowl, exhaust component, engine & system parts. Increasing demand for efficient aircraft thrust reverser and engine components for better operation will increase the revenue during the forecast period.

On the basis of end user, aircraft nacelle components market is divided in to OEM, MRO and aftermarket. Increasing MRO industry in across the region will drive the demand during the study period. In 2016, MRO demand from engine & components accounted for more than 50% of the total market. High demand for MRO in Asia Pacific will support the industry growth.

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Asia Pacific will exhibit highest growth rate owing to high airline traffic supported by increasing travel & tourism. Increasing consumer preference for air travel and rise in international travel in countries China, India, Vietnam and Indonesia will support the aircraft nacelle components market growth. Moreover, rising defense budget for military airplane procurement and upcoming indigenous commercial and regional jets will contribute to the regional growth.

North America dominates the overall aircraft nacelle components industry and will continue its dominance during the forecast period. The growth is attributed to established airplane parts manufacturing industry, technological advancements and increasing usage of composites to achieve weight reduction of the plane.

Some of manufacturers in aircraft nacelle components market are Safran, Pratt & Whitney, Shell Aviation, GE Aviation, UTC aerospace system, Spirit Aerosystems, FACC, Bombardier, Engine Alliance, GKN Aerospace, CFM International, Leonardo S.p.A., International Aero Engines, and Lockheed Martin.

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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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