Segmented by engine type (turboprop, turbofan, turboshaft, piston), by material (steel, iron), by aircraft type (narrow-body aircraft, wide-body aircraft, regional aircraft, business aircraft, rotorcraft, fighter aircraft), by Application (commercial), military), and by region.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Aircraft Engine Market – Global Size, Share, Trends, Opportunity and Forecast, 2017-2027” – https:/ /www.reportlinker. com/p06370156/?utm_source=GNW
The global aircraft engine shaft market is expected to witness growth at a steady CAGR during the forecast period, 2023-2027. Factors such as the increase in air passenger traffic, consumer spending capacity and changing consumer preference to travel through air modes are accelerating the demand for aircraft worldwide.
An increase in the investments of the market players in technological progress and the emergence of innovative solutions to improve the performance of aircraft engine shafts are expected to contribute to the growth of the market. Also, the expansion of the aircraft fleet and the growing demand for commercial aircraft are expected to drive the demand for the global aircraft engine shaft market during the forecast period.
The growth of the commercial aviation industry is driving the market demand
Air traffic is expected to increase at a significant rate which is expected to drive the demand for commercial aircraft worldwide. Improvement in air traffic, reduction in fuel prices and the appearance of planes offering tickets at affordable prices are increasing the frequency of people traveling through the air modes.
Consumers began to prefer convenience and comfort over the cost of purchasing a ticket. Airplanes take the passengers from their location to the desired location in the shortest possible time, which eliminates the need to travel long hours over long distances.
Commercial aircraft are environmentally friendly and have a low negative impact on the environment. The emergence of online platforms provides information about the current status of the tickets available on the plane, along with their prices.
They also offer online payment gateways and web check-in options to provide enhanced convenience to passengers. Also, the increase in government investments to support the aviation industry in their countries and encourage the market players to start local production in their country is expected to create profitable growth opportunities for the market players during the forecast period. Thus, the growing commercial aviation industry is expected to bolster the demand for the global aircraft engine shaft market in the next five years.
Increased demand for military aircraft increases market demand
Countries are investing in the modernization of their aviation fleet due to changing warfare technologies and the increase in terrorism and cross-border conflicts. They are replacing the conventional planes with technologically advanced planes in order to have the upper hand in combat situations.
Governments of various countries are increasing their defense budgets to expand their air force fleets. A number of countries are focusing on improving their domestic production and reducing their dependence on other countries to meet their military requirements, which is expected to support the local manufacturing market players.
The players in the market are working on improving the performance and hit probability of their military aircraft and improving the fuel efficiency of their aircraft. The emergence of the new aircraft that can fly long distances with minimal fuel requirements and aircraft engines that offer higher performance are expected to accelerate the market demand throughout the forecast period.
The global aircraft engine shaft market is segmented into engine type, material, aircraft type, application, regional distribution, and competitive landscape. Based on engine type, the market is segmented into turbo-prop, turbo-fan, turbo-shaft and piston.
Based on material, the market is segmented into steel and iron. On the basis of aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, regional aircraft, business aircraft, rotorcraft and fighter aircraft.
Based on application, the market is segmented into commercial and military. The market analysis also examines the regional segmentation to plan regional market segmentation, divided into North America region, Asia-Pacific region, Europe & Commonwealth of Nations region, South America region and the Middle East & Africa region.
In terms of country, the US is expected to witness significant growth during the forecast period due to the increase in the number of commercial and military aircraft in the country.
PBS Aerospace, Rolls-Royce, Safran, GE Aviation, Honeywell, Duacsek & Jakadofsky OG are among the major market players on the global platform leading the market growth of the global aircraft engine shaft market.
The scope of the report:
In this report, the global aircraft engine shaft market has been segmented into the following categories, in addition to the industry trends also detailed below:
• Aircraft engine market, by engine type:
o Turbo wave
• Aircraft engine market, by material:
• Aircraft engine market, by aircraft type:
o Narrow body aircraft
o Wide-body aircraft
o Regional planes
o Business jets
o Fighter planes
• Aircraft engine market, by application:
• Aircraft engine market, by region:
o North America
o Europe and the Commonwealth of Nations
o South America
o Middle East and Africa
United Arab Emirates
Company Profiles: A detailed analysis of the major companies present in the global aircraft engine market.
With the given market data, we offer customization according to the specific needs of the company. The following customization options are available for the report:
Information about the company
• Detailed analysis and profile of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06370156/?utm_source=GNW
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