The global aircraft propeller system market size was USD 362.7 Million in 2022 and is expected to register a revenue CAGR of 11.6% during the forecast period. The aircraft propeller system market is a rapidly growing industry, expected to witness substantial growth in the coming years. The propeller system is an essential component of an aircraft that is responsible for generating thrust and moving the aircraft forward. The market is driven by the increasing demand for regional and commercial aircraft globally.
The growing demand for low-cost air carriers and the increasing popularity of air travel among the middle-class population are among the major factors driving the market’s growth. Moreover, the increasing number of air travelers and the growing number of regional airlines are expected to create significant growth opportunities for the market players. The demand for fuel-efficient and lightweight propeller systems is expected to increase in the coming years, which is expected to drive the market’s growth further.
However, the market’s growth can be hindered by the high initial investment required for the manufacturing of the aircraft propeller system. Also, the installation of the propeller system requires specific expertise and can be a complex process. These factors are expected to restrict the growth of the market.
The Global Aircraft Propeller System Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
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The leading market contenders listed in the report are:
Raytheon Technologies, Dowty Propellers, MT-Propellers, Airmaster Propellers, Hartzell Propellers, McCauley Propeller, Helices Props, GSC Systems, DUC Helice, and Culver Props
Some Key Highlights From the Report
- The blade segment is expected to register a significantly large revenue share during the forecast period. The quantity of blades in a propeller is dependent on the specific needs of the aircraft in terms of efficiency and can range from one to six or more. The engine power and performance requirements of the aircraft are the key factors that determine the number of blades used in the propeller.
- The conventional segment is expected to register a substantially high revenue growth rate over the forecast period. A turboprop engine is a jet engine adapted for propeller power, which is particularly efficient at lower flight speeds. Compared to turbojet or turbofan engines of the same size, turboprop engines consume less fuel per seat mile and require less runway for takeoff and landing. This makes them the preferred choice for most commuter aircraft operating over relatively short distances.
- The Original Equipment Manufacturer (OEM) segment is expected to register a substantially fast revenue growth rate over the forecast period. At present, aircraft makers are creating substantial demand, leading to increased revenue for the original equipment manufacturer (OEM) segment. However, as propellers are prone to wear, fatigue, corrosion, and erosion, they need frequent maintenance, repair, and restoration to extend their lifespan.
- Market in North America is expected to register a considerable revenue growth rate during the forecast period. The market in North America is expected to show substantial growth in the foreseeable future, mainly due to rising demand for fuel-efficient turboprop engine aircraft. Moreover, the demand for aircraft equipped with variable-pitch propellers in developed economies is expected to drive regional market revenue growth.
- Some major companies in the market report include Raytheon Technologies, Dowty Propellers, MT-Propellers, Airmaster Propellers, Hartzell Propellers, McCauley Propeller, Helices Props, GSC Systems, DUC Helice, and Culver Props
- On September 18, 2020, Dowty Propellers and Haydale Graphene Industries plc entered into a partnership agreement. Under the agreement, Haydale will provide graphene and nanomaterial-enhanced products to Dowty Propellers for its products. The two companies will collaborate to develop erosion-resistant coatings for propeller blades.
Key reasons to buy the Global Aircraft Propeller System Market report:
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The latest report comprehensively studies the global Aircraft Propeller System market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
Market Segmentations of the Aircraft Propeller System Market
Component Outlook (Revenue, USD Million; 2019–2032)
Engine Outlook (Revenue, USD Million; 2019–2032)
- Turbo prop Engine
- Piston Engine
- Hybrid & Electric
Platform Outlook (Revenue, USD Million; 2019–2032)
- Business Jets
- Light & Ultra-Light Aircrafts
- Regional Transport
- Unmanned Aerial Vehicles
Regional Outlook of the Aircraft Propeller System Market
The global Aircraft Propeller System market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Aircraft Propeller System market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
The research provides answers to the following key questions:
- What will be the growth rate of the Aircraft Propeller System market for the forecast period, 2020 to 2030? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Aircraft Propeller System market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Aircraft Propeller System market for the forecast period, 2022 to 2030?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
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