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Aircraft Thrust Reverser Market in Asia Pacific is Expected to Witness Strong Growth Over 2024

Author : Ronak Bora | Published Date : 2019-05-14 

Asia Pacific aircraft thrust reverser market will witness strong growth owing to rising passenger traffic, demand for single aisle, regional and widebody airplane. Rising population along with considerable reduced fares are the key factors driving the business growth. Developing GDP, rising air travel demand, aircraft affordability, stable financial performance and industry consolidation are key factors supporting industry growth.

Thrust reverser deployment during landing and aborted takeoff offering superior safety and reduced landing distance will fuel the industry growth. Installation of aircraft thrust reverser offers additional stopping force on slippery and wet runways. Proliferating demand of commercial planes will support the aircraft thrust reverser market growth. The growth can be attributed to rising air passengers particularly from emerging countries owing to affordable price and increasing infrastructure development in the region.

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Increasing global GDP is among prime factor driving the air traffic growth. Shifting trend towards liberalization, development of new service-based business model and growth in tourism are the prime factors fueling the air plane demand. Improving the operational safety of the airplane are the key focus of the manufacturers and airliners. Reduced landing distance along with regular safety checks of the plane will positively influence the product penetration.

Aircraft thrust reverser market demand from large widebody aircraft generated over USD 40 million in 2016. The revenue contribution can be credited to growing demand for airplane particularly from developed region. Aircraft thrust reverser market from single aisle air body will witness strong growth over 4.5% up to 2024. Strong demand of the commercial particularly from emerging countries owing to increasing investment in airliner will drive the business growth.

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In 2016, hand layup contributed over 50% of aircraft thrust reverser market share. Development of the process offering superior production method, easy processing and mass production are the key factors fueling the industry demand. ATF/ATP will witness rapid growth over 4.5% during the forecast timeframe. Innovations in the production process with implementation of automation and reducing the overall processing time will drive the segment growth.

Hydraulics dominates the aircraft thrust reverser market in 2016. The preference can be contributed to easy installation and operation of the mechanism. Electric aircraft thrust reverser market will witness robust growth over 5.5% up to 2024. Increasing installation of the electric thrust reverser in advanced airplane will fuel the industry demand. This eliminates usage of corrosive fluids in the system and offers reduced weight. Manufacturers are focusing on developing electric thrust reverser for conventional airplane.

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North America led by the U.S. dominates the aircraft thrust reverser market accounting over 55% of industry share. In 2015, the U.S. airplane and spacecraft exports accounted over USD 130 billion owing to demand from emerging countries and high backlog. Presence of industry participants in the region along with demand for commercial airplane will fuel the regional growth.

Nordam, Triumph Group, Spirit AeroSystems, Safran S.A., UTC Aerospace Systems and GKN Aerospace are among few notable players of aircraft thrust reverser market. Manufacturers are developing products offering rigidity along with light weight sufficing the aviation standards. Risk sharing with the airplane manufacturers are key trends offering competitive edge in the industry.

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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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