The sustainable aviation fuel market is projected to grow from USD 4.2 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 6.0% during the forecast period. This growth can be attributed to factors, increase in airspace modernization programs.
The COVID-19 outbreak has led to several challenges for various industries such as aviation and consumer electronics. These industries faced many economic problems post the COVID-19 outbreak. Since the beginning of the outbreak, the civil aviation industry has been among the most severely hit sectors globally. The International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA) actively monitor the economic impact on the aviation industry and regularly publish reports and forecasts. As per a recent report published by IATA, below is the financial impact on the aviation sector, by country, due to the COVID-19 pandemic.
The increase in new aircraft sales across the globe is one of the key factors driving the growth of the aircraft nacelle and thrust reverser market. As increased number of airline companies are looking to expand their aircraft fleet and customer carrying capacity or replace aging aircraft, the demand for aircraft has been increasing. The New York Times, in an article, said that Boeing’s sales increased in 2021, compared to their highest level since 2018. Many airlines like United Airlines made their biggest purchase ever by ordering 270 new aircraft from Boeing, and Allegiant Air bought 50 new Boeing 737 MAX jets. The new owners of Jet Airways plan to buy at least 100 narrow-body aircraft and were in talks with Boeing and Airbus for the purchase. In 2021, Amazon made its first aircraft purchase of 11 Boeing 737-300 jets to build its transportation and delivery network. PNC reported in an article that there is a rise in new aircraft purchases as used aircraft availability has declined, which has resulted from the financial crisis. PNC found that, of all the used aircraft, approximately 6.8% of the heavy jet fleet is available for sale, while 8.5% of the medium jet fleet and 10.8% of the light jet fleet is available for sale. In 2021, Honeywell released a forecast that showed a quick rebound for business aviation as the flight hours and purchase plans show growth.
The Exhaust System is estimated to lead the aircraft nacelle and thrust reverser market in 2020
Typically, exhaust system is a component of the aircraft nacelle and thrust reverser system. Based on End User, the Exhaust System of the aircraft nacelle and thrust reverser market is accounted for the largest share during the forecast period. The production of exhaust system is expected to scale up rapidly in the coming decade due to rapid developments in technological pathways. Countries such as Canada, France, and China are contributing significantly to the long-term productivity plans.
The Aircraft Nacelle segment is expected to grow at the highest CAGR during the forecast period
Based on product type, the aircraft nacelle and thrust reverser is segmented into below Thrust Reverser, aircraft reverser, engine build-up unit, exhaust system. The Aircraft Nacelle segment of the aircraft nacelle and thrust reverser market is expected to grow at the highest CAGR during the forecast period. The production of exhaust system is expected to scale up rapidly in the coming decade due to rapid developments in technological pathways. Countries such as Canada, France, and China are contributing significantly to the long-term productivity plans.
North America is expected to grow at the highest CAGR during the forecast period
United States is expected to grow at the highest CAGR during the forecast period. The countries such as United States and Canada in North America are focused on investing in the aviation industry to keep up with Europe and Chinese manufacturers. With supportive policies and initiatives to decarbonize aviation emissions, the North American market is deemed to be one of the strong demand centers for Aircraft parts and components.
Break-up of profile of primary participants in the sustainable aviation fuel market:
- By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C Level – 50%, Director Level – 25%, and Others – 25%
- By Region: North America – 60%, Europe – 20%, Asia Pacific – 10%, South America– 5%, and RoW – 5%
Major players operating in the renewable jet fuel market include Safran (France), Spirit AeroSystems (US), FACC AG (Austria), Barnes Group Inc (US), and Woodward (US) among others. Some of the Private and small enterprises in the aircraft nacelle and thrust reverser market include Aernnova Aerospace S.A. (Spain), Magellan Aerospace Corporation (Canada), Collins Aerospace (US), The NORDAM Group (US), and GKN Aerospace (UK).
This research report categorizes the aircraft nacelle and thrust reverser market on the basis of End User (OEM and Aftermarket), Based on Material(Composites, Alloys, Stainless steel). Product (Thrust Reverser, Aircraft Nacelle, Engine Build-Up, Exhaust System), and Engine type (Turbofan, Turboprop, Turboshaft). These segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft nacelle and thrust reverser market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the sustainable aviation fuel market. In addition, the startups in aircraft nacelle and thrust reverser market ecosystem are covered in this report to provide usable insights and developments happening in the emerging market of aircraft nacelle and thrust reverser.
Reasons To buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Aircraft nacelle and thrust reverser market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on Aircraft nacelle and thrust reverser offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches, contracts, agreements, and expansion plans in the sustainable aviation fuel market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the Aircraft nacelle and thrust reverser market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Aircraft nacelle and thrust reverser market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the Aircraft nacelle and thrust reverser market