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)
Market Introduction
The Asia-Pacificaircraft engine manufacturing industry is experiencing a substantial growth due to increasing demand of passenger, freight, and military aircraft. The rising disposable incomes, increasing population, and growing travel trend are a few of the major factors boosting the demand for various types of aircraft in Asia-Pacific. The growing demand for air travel, leading to increased production of aircraft,is anticipated to boost the aeroengine fan blades market during the forecast period. Moreover, the rising investments in aerospace and defense industry by the governments in the countries in this region are anticipated to drive the demand for military aircraft during 2020–2027.
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Market Overview and Dynamics
The aeroengine fan blades market in Asia-Pacificwas valued at US$ 1059.6 million in 2019 and is projected to reach US$ 1571.6 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. Factors driving the market growth include the positive growth outlook of the aviation industry in Asia Pacific and impressive growth rate of air passengers across the region. However, huge cost and time requirements of the design and development of fan blades hampers the growth of the market. Moreover, the rising demand for low-cost and ultralow-cost carriers, and growing investments in composite material fan blades are the factors providing growth opportunities for the aeroengine fan blades manufacturers.
Key Market Segments
The turbofan aeroengine segment accounted for the largest share of the Asia-Pacificaeroengine fan blades market, based on engine type, in 2019. In terms of material type, the titanium alloys segment held the greatest share of the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the aeroengine fan blades market in Asia-Pacificare company websites, annual reports, financial reports, national government documents, and statistical database. Major companies listed in the report are GE Aviation, IHI Corporation, Rolls-Royce Holdings plc, and Safran S.A, among others.
Reasons to buy report
- To understand the Asia-Pacific aeroengine fan blades market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia-Pacific aeroengine fan blades market
- Obtain market revenue forecast for market by various segments from 2020-2027 in Asia-Pacific region.
Asia-Pacific Aeroengine Fan Blades Market Segmentation
By Engine Type
- Turbofan Aeroengine
- Turboprop Aeroengine
- Turbojet Aeroengine
By Material Type
- Titanium Alloys
- Aluminum Alloys
- Steel
- Composites
By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Company Profiles
- Chaheng Precision Co. Ltd.
- GE Aviation
- GKN Aerospace Services Limited
- IHI Corporation
- MTU Aero Engines AG
- Rolls-Royce Holdings plc
- Safran S.A.
The List of Companies - Asia Pacific Aeroengine Fan Blades Market
- Chaheng Precision Co. Ltd.
- GE Aviation
- GKN Aerospace Services Limited
- IHI Corporation
- MTU Aero Engines AG
- Rolls-Royce Holdings plc
- Safran S.A
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- Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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