The global commercial aircraft gas turbine engine market is rising with the fast pace. According to a recent study, this market will propagate rapidly over the forecast period. The market is estimated to have a slow but steady growth estimating to value of USD xxx.xx Billion by 2025 that will be augmented with a CAGR of x.x% during the projected period (2018 -2025).
main work of a gas turbine engine is to convert fuel energy into useful mechanical energy, this engine in turn propels the aircraft. Aircraft functioning entirely rely on number of accessories and supercharger. It is observed that there is higher investment in engine and craft leasing activities, which is driving the expansion of the market during the forecast period. However, lack of adequate funds for new craft may hamper the adoption of engines because rates of new engines are getting thrice of entire new craft price. This triggered the engine leasing business. Airlines have adopted these funding facilities offered by craft entities to feature a new engine.
he commercial aircraft gas turbine engine market trends that is getting higher traction is development of 3D printed engine elements. Additive manufacturing arrived with the help of 3D printing which involves synthesizing consecutive layers of materials, with the help of computerised management technology or software (CAD) to develop a part. This method allows producers to evolve with a tiny and micro-components of virtually any size or form. This method reduces time taken in manufacturing and lessen associative material wastage.
“In the aviation sector, manufacturers are highly dependent on 3D printing to alleviate supply chain constraints, limit warehouse space, and reduce wasted materials from traditional manufacturing processes. Rapid production of aircraft parts as per market demand will help in saving enormous amounts of space and money. Most aero-engine manufacturers have started using the 3D printing technology to fabricate critical and complex components such as fuel nozzles,” stated a senior analyst at renowned institution.
key regions of commercial gas turbine engine market are Europe, APAC, North America, Latin America, and MEA. The fastest growing region is APAC due to growing manufacturing of commercial aircraft in countries like Japan and China.
Key segments of ‘Global Commercial Aircraft Gas Turbine Engine Market’
Based on technology, the market has been segmented into,
Turbofan Turboprop The top manufacturers of market are,
CFM International GE Aviation Pratt & Whitney Rolls-Royce Safran Aircraft Engines Based on types, the market has been segmented into,
Americas APAC EMEA Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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