Lightweight Materials Seeing Increasing Use in Aircraft Engine Blades
The growing use of lightweight materials is an emerging trend that has direct impact on the dynamics of the aircraft engine blade industry.
The future of the global aircraft engine blade market looks promising, according to Lucintel, with opportunities in commercial, general aviation, and regional and military aircraft. The global aircraft engine blade market is expected to reach an estimated $31 billion by 2023, growing at a CAGR of 3.1% from 2018-2023. The major growth drivers for this market include increasing aircraft deliveries and periodic replacement of engine blades, while the growing use of lightweight materials is an emerging trend that has direct impact on the dynamics of the industry.
Lucintel forecasts that blades for compressor applications are expected to remain the largest segment over the forecast period due to the requirement for a higher number of blades in aircraft engine compressors. Blades for turbine applications are expected to witness the highest growth through 2023.
Engine blades used in commercial aircraft will remain the largest segment and also are expected to witness the highest growth due to the increasing commercial aircraft deliveries and the development of new aircraft programs. North America will remain the largest region and witness the highest growth over the forecast period. The presence of major aircraft engine manufacturers in the region is driving the demand for engine blades.
Additional details are available at www.lucintel.com.