Commercial Aircraft Turbines Blades and Vanes Market – Overview
Commercial Aircraft Turbine Blades and Vanes Market Size was valued at USD 1383.5 million in 2022. The Commercial Aircraft Turbine Blades and Vanes market is projected to grow from USD 1455.3 Million in 2023 to USD 2073.8 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.91 % during the forecast period (2023 - 2030)
The global market for commercial aircraft turbines blades and vanes is increasing at a rapid pace. According to a recent study report published by the Market Research Future, the global market of commercial aircraft turbines blades and vanes will grow at a rapid pace over the forecast period. The market is forecasted to witness a slow but steady growth by 2021, which will be a surplus growth at a moderate CAGR during the projected period.
Blades and vanes in aircraft turbine engines are responsible for extracting energy from the high pressure and high temperature gas generated in combustion chamber. Blades and vanes are designed and manufactured in such a way that it should sustain at high pressure and temperature for a longer duration in turbine engines.
Majority of the turbine blades are made of nickel-titanium-aluminium alloys, whereas some blades are made up of ceramic materials, these materials can sustain high temperature and pressure in the turbine engine. Moreover, materials with high resistance to corrosion, high-tensile strength, and high resistance to temperature are used for aircraft turbine blades and vanes. Innovations in the turbine blade material is a new trend in this market. In search of continuous improvement in the aero-engine technology and components, new materials with improved properties are largely being used in the aerospace industry.
Commercial aircraft turbines blades and vanes market is segmented by engines which includes turbofan, turboshaft and turboprop. Further these can be segmented as Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Business Helicopters, Military Helicopters and others.
The estimates for this commercial aircraft turbine blades and vanes market growth will be driven by the rise in demand from emerging commercial aircraft markets. Factors like high fuel prices, strict regulations about noise and carbon dioxide emissions, and an increase in competition from low cost carriers will force manufacturers to develop a modern aero-engine design that is lightweight and saves fuel. This increase in the development of new aircraft will enhance the demand for commercial aircraft turbine blades and vanes.
Rising fuel expenses is a major alarm for airline operators. According to the International Air Transport Association (IATA), fuel price accounted for 30% of the overall airline operating cost. Therefore, engine manufacturers are developing new and advanced technologies. CFM’s LEAP and GE9X engines are the next-generation fuel-efficient engines that help to shrink the weight and the overall efficiency of the aircraft. Such innovations are likely to drive the market over the forecasted period.
Key Players:
The Commercial Aircraft Turbine Blades and Vanes Market Key players are GKN Aerospace (U.K), GE Aviation (U.S.), Rolls Royce (U.K), Turbocam International (U.S.), Chromalloy (U.S.), UTC Aerospace Systems (U.S.), Hi-Tek Manufacturing (U.S.), Moeller Aerospace (U.S.), The Robert E. Morris Company (U.S.), and Snecma (France) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global commercial aircraft turbines blades and vanes market.
Commercial Aircraft Turbines Blades and Vanes Market – Segmentation
The commercial aircraft turbine blades and vanes market industry is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Aircraft Type: Fixed-Wings and Rotary-Wings
Segmentation by Engine Type: Turboprop, Turboshaft, and Turbofan
Segmentation by Regions: North America, Europe, Asia Pacific, Middle East & Africa and South America.
Regional Analysis:
Growing demand for improved aircraft turbine blades and vanes will bring down the overall operational costs this will be the primary driver for this market. The increase in aircraft and aero-engine sales are expected to reflect positively on the growth of the turbine blades and vanes market during the forecast period. At present, Asia Pacific governs the global commercial aircraft turbine blades and vanes market share. The huge aviation market base is the key driver for the market growth in this region.
Industry/ Innovation/ Related News:
March, 2018: The American Society of Mechanical Engineers named the Pratt & Whitney single crystal turbine blade mechanical engineering landmark.
March, 2018: Pratt & Whitney gas turbine industry developed a single crystal blades, development helped to increase the engine efficiency. For this development company was awarded by the American Society of Mechanical Engineers.
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