Global Commercial Aircraft Gas Turbine Engine Market 2017-2021
About Commercial Aircraft Gas Turbine Engine
Aircraft are powered by piston engines or gas turbine engines. Gas turbine engines are classified into turbojet, turboprop, and turbofan engines. Commercial aircraft are mostly powered by a turbojet engine or a turbofan engine. Turbojets are mainly used in small transport aircraft. Turbofans are more efficient than turboprops and are used in many modern commercial aircraft. Turboprops are mainly used in regional jets that cover shorter distances and have fewer passengers onboard.
Technavio’s analysts forecast the global commercial aircraft gas turbine engine market to grow at a CAGR of 5.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial aircraft gas turbine engine market for 2017-2021. To calculate the market size, the report considers the new installations of commercial aircraft gas turbine engines during the forecast period.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Aircraft Gas Turbine Engine Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial aircraft gas turbine engine market: CFM International, GE Aviation, IAE, Pratt & Whitney, and Rolls-Royce.
Other Prominent Vendors in the market are: Aviadvigatel, Engine Alliance, Lycoming, MTU Aero Engines, and PowerJet.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of 3D printed engine components. The 3D printing process, also known as additive manufacturing, involves synthesizing successive layers of materials with the support of computerized control technology or computer-aided design (CAD) to produce an object or component. This process permits producers to manufacture small and micro-components of almost any shape or size. It also allows manufacturers to reduce the overall weight of the components such as those of an aircraft engine. This advanced printing method allows cost-efficient and just-in-time production of parts and components while permitting quick design and rapid alteration of internal features of the components, which would not be possible with traditional manufacturing methods.”
According to the report, one of the major drivers for this market is advances in existing gas turbine engine technology. The primary intent of aircraft operators/airlines is to ensure an operational engine that can reflect increased fuel efficiency while lowering the overall cost incurred during operation or maintenance. For the airlines, the maintenance and overhauling of aero-engine parts and components incur significant costs, and this will have a significant impact on the operational costs. Therefore, emphasis has been laid on choosing advanced materials that can help extend the durability and service life of an operational engine while ensuring efficient performance.
Further, the report states that one of the major factors hindering the growth of this market is high cost of material. Modern jet engines have enabled the development of large and efficient commercial aircraft, which have subsequently transformed the air transportation industry. These engines comprise several critical components, including a combustion chamber, multistage compressor, nozzle, and turbine. The aircraft engines components, such as the turbine blades and vanes, are strong, corrosion-resistant, and lightweight. Such features enable them to operate under high stress and temperature conditions. These components must remain operational for the entire lifetime of the engine (typically 10,000 flights).
CFM International, GE Aviation, IAE, Pratt & Whitney, and Rolls-Royce. Other Prominent Vendors in the market are: Aviadvigatel, Engine Alliance, Lycoming, MTU Aero Engines, and PowerJet.