The global aircraft engine and equipment market is expected to witness
substantial growth over the forecast period on account of a surge in demand for
advanced aircraft which is influenced by an entry of new airlines and expansion
of existing airlines. Furthermore, factors such as obsolete aircraft and
technology, demand for fuel efficient engines, increasing air travel, the
considerable growth of emerging markets are expected to be the drivers of
aircraft engines and equipment market growth. The industry manufactures
aircraft engine and engine parts, fuselage, rotor, propeller, landing gear,
electronic control, hydraulics and avionics systems. Aircraft engines and
components comprise of about 45% of the global market.
Rising demand for private and commercial airplanes owing to changing
trends in air travel, increasing population and consumer disposable income are
expected to drive the market forward. World economy catalyzing urbanization and
emergence of the middle class are keys to the expansion of airline industry
leading to increasing demand for aircraft engines and equipment. Technological
advancements along with developing innovative trends such as M601H-80 Turboprop
Derivative Engine II-49 and launch of the G3-R9 II-48 market are also one of
the factors anticipated to drive the market.
Browse Details of Report @ https://www.hexaresearch.com/upcoming-research/aircraft-engine-equipment-market
The focus of the industry is in the manufacturing of fuel efficient
engines, leading to the manufacturing of low-cost aircraft which is expected to
drive the market even further. Furthermore, recent collaborations such as Jet
airways and Etihad, Avidyne Corporation, Eagle Creek Aviation Services, Inc.,
Edge Aviation Services, and Lone Mountain Aviation is anticipated to foster the
aircraft engines and equipment market growth. However, reduction in defense
expenditure is anticipated to hinder the aircraft engine and equipment market
in the forecast period.
The market is further categorized on the basis of the commercial
aircraft jet engine market by engine type into turbofan and turboprop.
Furthermore, the commercial aircraft market is categorized on the basis of
components into engine, airframe, systems, avionics, interior and landing gear.
On the basis of aircraft type into large widebody, medium widebody, small
widebody, narrow body, regional jets and business jets. The market is also
segmented on the basis of application into civil and military. Aircraft engines
and equipment market is further categorized on the basis of business sectors into
integrated aero structures, engine systems, transparency systems, integrated
propulsion systems, special products, wiring systems and landing gears.
Several distinctive factors are anticipated to pose a challenge for the
aircraft engines and equipment industry such as the complexity of technology,
its high regulatory, quality and safety requirements, the critical importance
of intellectual property safety in sectors such as aircraft engine and
avionics. Furthermore, the production of the industry is lower than any other
industry owing to the bulky products and the high level of product design and
customization. The U.S. and European standards are largely based on the global
aviation standards and are accepted worldwide. Air Control Pollution Law is another
regulation for conservation and safety of the environment. Rolls Royce follows
the Engine Health Management to keep track of the numerous engines all over the
world.
The market of Asia Pacific region is expected to grow at the
substantially and at a higher rate owing to the increasing population and
consumer demand and growing trade link between countries. Furthermore, growing
modernization strategies and low-cost carrier supply by the Philippines is
anticipated to foster Asia Pacific market. Increasing cargo, passenger hubs,
deregulation and inter-regional trade are few other reasons which are
anticipated to drive Asia Pacific market. The North American market is
estimated to witness sluggish growth on account of the reduced expenditure on
defense due to decreased involvement of the U.S. overseas. The Latin American
aircraft engine and equipment industry continue to evolve on account of
economic growth, market liberalization, new investments in airlines,
infrastructure and liberalization market, cross-border airline consolidation
and fierce competition. The market of European region is expected to grow as
low-cost carriers are anticipated to drive efficiencies across the global
aircraft engines and equipment industry. The market of Middle East is anticipated
to grow owing to its geographical location. Furthermore, Gulf governments are
leading investors in aviation projects fostering Middle Eastern aircraft engine
and components market forward.
Few of the major contributors in the market include Airbus S.A.S.,
American Champion Aircraft Corporation, BAE Systems, Kawasaki Heavy Industries,
Bell Helicopter Textron Inc., CFM International, Inc, Defense and Space Co,
Fokker Aerostructures B.V., GE Aviation, Pratt & Whitney International Aero
Engines, MD Helicopters Inc., Rolls-Royce, European Aeronautic, Safran, Thales,
and Zodiac.
Browse Related Category Market Reports @
About Us:
Hexa Research is
a market research and consulting organization, offering industry reports,
custom research and consulting services to a host of key industries across the
globe. We offer comprehensive business intelligence in the form of industry
reports which help our clients obtain clarity about their business environment
and enable them to undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office
Plaza
6265 Highway 9
Felton,
California 95018
United States
Phone:
+1-800-489-3075
Email:
sales@hexaresearch.com
Website - http://www.hexaresearch.com/
Follow us on Linkedin: https://www.linkedin.com/company/hexa-research
No comments:
Post a Comment