DUBLIN--(BUSINESS WIRE)--The "Aeroengine Fan Blades Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Engine Type; Material Type" report has been added to ResearchAndMarkets.com's offering.
The increase in global aerospace and defense spending and the subsequent rise in demand for the offerings of this sector are expected to create huge opportunities for the contractors and stakeholders in the corresponding supply chains. The commercial and military aircraft aftermarket landscape is also growing owing to a changing aircraft fleet mix, pressure on airlines to mitigate maintenance costs and the arrival of advanced technologies. This is resulting in an increased aftermarket opportunity for the overall commercial and military aircraft value chain, including original equipment manufacturers (OEM).
The growing investment in the aerospace and defense sector by governments is propelling the global aeroengine fan blades market. Furthermore, the rising demand for commercial and freight aircraft is compelling aircraft manufacturers, such as Airbus and Boeing, to increase the number of assembly/manufacturing plants. For instance, Boeing is planning to develop manufacturing bases in Southeast Asia. In addition, in November 2019, Airbus signed a contract with China to start its airline production in the country. Boeing is also looking to ramp-up its production in India in the future. These developments are providing significant opportunities for the growth of the aeroengine fan blade manufacturers, to enable them to extend their reach to top aircraft manufacturers and aircraft engine manufacturers.
The aeroengine fan blades market has been segmented on the basis of engine type, material type, and geography. The market based on engine type has been segmented into turbofan aeroengine, turboprop aeroengine, and turbojet aeroengine. On the basis of material type, the market has been segmented into titanium alloys, aluminum alloys, steel, and composites. In terms of geography, the aeroengine fan blades market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America, further segmenting the regional markets into respective countries.
Impact of COVID-19 Pandemic on Aeroengine fan blades market
The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace around the globe. As per the latest WHO figures, on May 13, 2020, there are ~4.17 million confirmed COVID-19 cases with ~2,87,000 total deaths globally, and the number is growing at varying rates in different countries. The global factory shutdowns, travel bans, and border lockdowns to combat and contain the disease spread have impacted every industry and economy worldwide. Aerospace is one of the major industries suffering serious disruptions due to this pandemic.
Technology events and industry meet cancellations, factory and office shutdowns, and reduced business activities are among the major consequences faced by the sector. The global travel bans imposed by countries in Europe, Asia Pacific, North America, and others are affecting the business collaboration and partnership opportunities. All these factors are anticipated to hold back the growth of the global aeroengine fan blades market, especially in 2020, as well as in 2021, depending on the duration of the outbreak.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aeroengine fan blades market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aeroengine fan blades market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Positive Growth Outlook of the Global Aviation Industry
- Growing Number of Air Passengers across Developing Regions
- Time and Cost Challenges related to Fan Blade Design and Development
- Rising Demand for Low Cost and Ultra-Low Cost Carriers
- Composite Material Fan Blades to Drive the Future Growth
- CFM International
- GE Aviation
- Pratt & Whitney
- Rolls-Royce Holdings plc
- Safran S.A
- GKN Aerospace
- IHI Corporation
- Chaheng Precision Co. Ltd.
- MTU Aero Engines AG
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