Our-in depth analysis of the global aeronautic propeller market includes the following segments:
By Number of blades
By Propeller Type
By Material Type
By Configuration Type
Global aeronautic propeller market is further classified on the basis of region as follows:
The aeronautic propeller market, in terms of value, is expected to grow rapidly during the forecasted period at a good CAGR. Increasing demand for lightweight and fuel-efficient aircraft is expected to stimulate the market of aeronautic propeller over the forecasted period. Increasing use of aerial vehicles in various military applications across the globe is also leading to the growth of the aeronautic propeller market globally.In terms of regional platform, North America holds the latest market share in aeronautic propeller market due to the growing research and development activities for refining the design of the blades used in the aeronautic propeller system. U.S. is one of the largest military spenders across the globe and has invested considerable amount of money in aeronautic propeller for the purpose of border security.Asia Pacific is expected to be the fast growing market for aeronautic propeller in terms of revenue as the developing economies in this region such as China and India are investing a considerable amount of money in aeronautics industry. Increase in aeronautic industries in China & India and growth in number of joint ventures with international companies also expected to contribute in the growth of aeronautic propeller market. Moreover, rise in airborne trade of crude oil mostly from Middle East countries to Asia Pacific is another factor that is expected to drive the Asia Pacific aeronautics propeller market.
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It is expected that controllable pitch propeller to grow with the highest CAGR over the forecasted period. These propellers contain movable components. Controllable pitch propellers also provide good control over maneuvering of an aircraft especially when there is an inconsistency in aircraft loads and variations in climatic conditions.
Increasing demand for aircrafts in developing economies such as China and India is expected to fuel the demand for aeronautic propeller market over the forecasted period. Moreover, designing of new aeronautics propulsion system with advance technologies in order to reduce the fuel intake is also expected to drive the demand for aeronautic propeller market over the forecasted period.
Factors such as growing demand for fuel efficient and lightweight aircraft and increasing number of deliveries of special light sport aircraft (SLSA) across the globe are expected to drive the growth of the aeronautic propeller market over the forecasted period.
Research and development programs and initiatives for technological innovations are also expected to contribute to the growth of aeronautic propeller market across the globe. Trade liberalization especially in developing countries has boosted the demand for exports through aircrafts which, in turn is expected to provide positive impact for aeronautic propeller market globally over the forecasted period.
The increasing cost of advance aeronautic propellers and the rising cost for the raw materials for the production of these propellers act as the major restraint for the growth of the aeronautic propeller market.
Some of the examples of market players in the global aeronautic propeller market identified across the value chain include:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.