Report : Asia Pacific Aeroengine Fan Blades Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by Engine Type (Turbofan Aeroengine, Turboprop Aeroengine, and Turbojet Aeroengine); Material Type (Titanium Alloys, Aluminum Alloys, Steel, and Composites)
Turbofan Aeroengine Segment to Dominate Asia-Pacific Aeroengine Fan Blades Market during 2019–2027
According to our new market research study on “Asia-Pacific Aeroengine Fan Blades Marketto 2027 – Regional Analysis and Forecast by Engine Type and Material Type,” the market is expected to reach US$ 1,571.6 Mn by 2027 from US$ 1059.6 Mn in 2019; it is estimated to grow at a CAGR of 5.2 % from 2020 to 2027. The report provides trends prevailing in the Asia-Pacific aeroengine fan blades market along with the drivers and restraints pertaining to the market growth. The growth of the Asia-Pacific aeroengine fan blades market is attributed to impressively increasing number of air passengers in the region. However, huge time and cost requirements pertaining to the design and development of fan blades restrain the growth of the Asia-Pacific aeroengine fan blades market.
The aeroengine fan blades market, by engine type, is segmented into turbofan aeroengine, turboprop aeroengine, and turbojet aeroengine. The turbofan aeroengine segment held the largest share of the Asia-Pacific aeroengine fan blades market in 2019. The OEMs are robustly focusing on the development and integration of advanced aeroengine fan blades, with special consideration of different types of aircraft engines. The advanced turbofans comprise either a massive single-stage fan or a smaller fan with numerous stages. These aeroenginesconfers economical operational performance; they also have applicationsin medium and long-haul commercial and military aircraft. This makes the turbofan the most widely used engine type in global aircraft industry.
GE Aviation, Rolls-Royce Holdings plc, Safran S.A, GKN Aerospace, IHI Corporation, Chaheng Precision Co. Ltd., and MTU Aero Engines AG are among the leading companies in the Asia-Pacific aeroengine fan blades market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance,IHI Corporation is set to prime more electric architecture for aircraft and propulsion in 2020, which emphasizes the optimization of the total energy management of aircraft system with technological innovation pertaining to reducing the CO2 emissions. IHI developed an electric machine (250kW) that can be embedded in the tail cone located in the aircraft jet engine rear-end in cooperation with domestic companies, followed by a successful evaluation testing.
Asia-Pacific Aeroengine Fan Blades Market, By Country, 2019 to 2027 (%)
The report segments the Asia-Pacific Aeroengine Fan Blades Market as follows:
Aeroengine Fan Blades Market– By Engine Type
- Turbofan Aeroengine
- Turboprop Aeroengine
- Turbojet Aeroengine
Aeroengine Fan Blades Market – By Material Type
- Titanium Alloys
- Aluminum Alloys
Aeroengine Fan Blades Market – By Country
- South Korea
- Rest of APAC
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