LONDON--(BUSINESS WIRE)--The global aircraft engine compressor market 2019-2023 is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increased demand for highly efficient and technologically advanced engines has been propelling R&D activities in the aircraft industry. This has led to the integration of advanced technologies in aircraft engines to enhance engine efficiency. For instance, the integration of sensors to monitor various parameters of the engine has led to digitalized controlling of aircraft engines. Such technological advances in engines will boost their adoption, which in turn will lead to an increase in demand for aircraft engine compressors.
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As per Technavio, the emergence of advanced sensor-based technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Aircraft Engine Compressor Market: Emergence of Advanced Sensor-Based Technologies
Intensive R&D for the development of advanced engine solutions has led to the optimization of preventive maintenance and aircraft healthcare monitoring systems. These systems use advanced sensors that are installed on different components of an aircraft engine to provide real-time data. The advantages of such systems have fetched higher R&D investments in sensor solutions, resulting in the development of new-generation sensors. Thus, the emergence of advanced sensor-based technologies will be a key trend in the aircraft engine compressor market during the forecast period.
“Apart from the emergence of advanced sensor-based technologies, other factors such as innovations in the field of manufacturing technology, and the development of electric and hybrid aircraft will boost the aircraft engine compressor market growth during the forecast period,” says a senior analyst at Technavio.
Global Aircraft engine compressor Market: Segmentation Analysis
This market research report segments the global aircraft engine compressor market by application (commercial and business aircraft, and military aircraft), and geographical regions (MEA, South America, APAC, North America, and Europe).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. However, the APAC region is expected to witness the highest incremental growth during the forecast period, due to several factors such as the increase in air passenger traffic, and improved domestic airline connectivity in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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