April 28, 2020
According to the research report titled ‘Global Commercial Aircraft Turbine Blades & Vanes Market Research Report 2020’, available with Market Study Report LLC, global commercial aircraft turbine blades & vanes market generated USD 2009.9 million in 2020 and is anticipated to record a growth rate of 5.5% during the study period, hence accruing USD 2936 million by the year 2026.
For the record, commercial aircraft turbine blades & vanes are used for removing energy from high temperature and high pressure gas generated in the combustion chamber.
Increasing number of air passengers along with growing demand for commercial aircrafts are major factors driving the growth of commercial aircraft turbine blades & vanes industry. There has been an upsurge in adoption of narrowbody aircrafts owing to their fuel efficiency as well as ability to travel long distances. Rising per capita income and technological advancements in aircraft engines are also propelling the market expansion.
As per type, HPT (high pressure turbine) segment is presumed to expand substantially during the forecast period, primarily due to their widespread adoption in commercial aircrafts. Meanwhile, LPT (low pressure turbine) segment is expected to hold 59% volume share by the year 2026.
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Based on the application spectrum, narrowbody segment is expected to register significant growth during the estimated timeframe. Growing inclination towards narrowbody aircrafts owing to their efficiency, low cost and long distance journeys are fueling the segmental growth.
Considering the geographical landscape, commercial aircraft turbine blades & vanes industry in North America is poised to amass admirable returns by the year 2026. High concentration of market majors, technological advancements, escalating disposable income and rising air travel are prime factors stimulating the business outlook in North America.
Hi-Tek, Cisri-gaona, IHI, Moeller Aerospace, TURBOCAM, Arconic, UTC Aerospace Systems, Rolls-Royce, GE Aviation and PCC Airfoils are the major contenders in global commercial aircraft turbine blades & vanes industry.
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