The Aeroengine fan blades market in Europe was valued at US$ 2,079.6 Mn in 2019 and is projected to reach US$ 3,379.2 Mn by 2027; it is expected to grow at a CAGR of 6.4% from 2020 to 2027.
The positive growth outlook of the European aviation industry and increasing number of air passengers in the Region are key factors boosting the demand for Aeroengine fan blades. However, complex nature of the fan blade design and development process limits the growth of the market. Further, the rising demand for low-and ultralow-cost carriers and growing investments in composite material fan blades are the factors that provide growth opportunities to the Aeroengine fan blades market players in this region.
The Europe Aeroengine fan blades market is segmented on the basis of engine type, material type, and country. Based on engine type, the market is segmented into turbofan Aeroengine, turboprop Aeroengine, and turbojet Aeroengine. In 2019, the turbofan Aeroengine segment held the largest share of the market in Europe, and it is also the expected to register the highest CAGR during 2020-2027. Based on material type, the Aeroengine fan blades market is segmented into titanium alloys, aluminum alloys, steel, and composites. Titanium alloys is the most widely used materials in Aeroengine fan blades. However, owing to the fuel-efficiency ensured by the by composite fan blades, the market for this segment is estimated to grow at the highest CAGR from 2020 to 2027.
The overall Europe Aeroengine fan blades market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe Aeroengine fan blades market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Aeroengine fan blades market are GE Aviation, GKN Aerospace Services Limited, Rolls-Royce Holdings plc, Safran S.A, and Pratt & Whitney, are among a few players operating in the Europe Aeroengine fan blades market.