The aircraft thrust reverser actuation systems market is estimated to register at a CAGR of more than 6% during the forecast period.
- The market is currently growing, due to the development and procurement of new generation aircraft and engines. With the advancement in technology and requirement of operational safety, manufacturers are developing advanced thrust reverser actuation systems with reduced maintenance cost.
- The implementation of additive manufacturing and 3D printing in thrust reverser actuation systems may have a huge impact to ensure long-term sustainability, along with assuring upgrades in performance of aircraft.
- Moreover, the increase in safety regulations for both airlines and the aircraft may help the growth of the market in the years to come.
Key Market Trends
Electric Mechanism to Register the Highest CAGR During the Forecast Period
Based on mechanism, the aircraft thrust reverser actuation system is segmented into hydraulic and electric systems. Currently, hydraulic thrust reverser actuators have a higher share, as they are widely being adopted in many aircraft models in the market currently. The deliveries of those aircraft are the reason for the higher share of the segment. However, during the forecast period, the electric mechanism segment is expected to have the highest growth rate. Due to increasing more electric architecture in the aircraft, the electric actuator mechanisms are being adopted in new generation aircraft, and thus the electric segment of the market is expected to experience the highest growth during the forecast period.
Asia-Pacific to Experience the Highest Growth During the Forecast Period
As of 2019, North America has the highest share in the aircraft thrust reverser actuation systems market. The high revenue share of the region is mainly due to a large number of aircraft deliveries in the region. The United States, the largest aviation market in the world currently, has been procuring new aircraft on a large scale. However, Asia-Pacific is expected to have the highest growth during the forecast period. The growth of the region’s market is mainly attributed to the increasing commercial aircraft procurements in China and India. The countries in Asia-Pacific are also bolstering their military aircraft fleet, thereby helping the growth of the market in the years to come.
Woodward, Inc., Arkwin Industries, Inc., Honeywell International Inc., Safran SA, and Collins Aerospace (United Technologies Corporation) are some of the major players in the market currently. The market concentration is moderately high, as there are only a handful of suppliers manufacturing the thrust reverser actuators for the aircraft. Players are focusing on the development of new technologies and mechanisms for improving the braking effectiveness of aircraft thrust reverser actuation systems. Emerging technologies, like 3D printing and more electric architecture, are to be adopted by the players to stay in the competition amidst the already established players in the industry.
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