Our in-depth analysis of the aircraft engine nacelle market includes the following segments:
By Engine Type
On the basis of geographical analysis, the aircraft engine nacelle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America region is estimated to acquire the largest share over the forecast period on the back of growing demand for new aircraft, continuous replacement of ageing fleet and strong presence of key players in the region. However, Asia Pacific’s market is evaluated to witness the highest CAGR during the forecast period, which can be ascribed to the growing demand for fuel-efficient nacelles and increasing modernization of the aviation industry in the region. Furthermore, rapid rate of industrialization and rising aircraft expenditure in countries namely, China and India, is also anticipated to drive market growth in the future. For instance, China’s industrial production reached almost 14% YoY in March, 2021. The growth rate increased by more than 7% from the previous month.
The aircraft engine nacelle market is further classified on the basis of region as follows:
March 03, 2021: Triumph Group and AFI KLM E&M are all set to provide an expanded nacelle MRO services for customers in the Americas.
February 14, 2020: The maiden flight of Gulfstream G700 went airborne with Safran’s latest Pearl 700 nacelle for large-cabin business jets.
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.
Author Credits: Ipsheeta Dash, Sadaf Naaz
Ans: Growing demand for aircraft nacelle for protection from fire and increasing air passenger traffic worldwide are major growth drivers for market.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 – 2029.
Ans: High cost of procurement of engine nacelles is estimated to hamper the market growth.
Ans: Asia Pacific region will provide more business opportunities on the back of rapid industrialization and growth of the aviation industry in the region.
Ans: The major players in the market are Safran and Safran companies, Raytheon Technologies Corporation, Leonardo S.p.A., Singapore Technologies Engineering Ltd, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by material, engine type, end user, and by region.
Ans: The aluminum alloys segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.