Aircraft Engine Nacelle Market Snapshot
Aircraft Engine Nacelle Market is expected to register 8.98% CAGR during the forecast period.
Aircraft engine nacelles are components that are made up of composites, titanium alloys, nickel-chromium, stainless steel, and aluminum alloys. There are different types of aircraft engine nacelles, such as rear mounted nacelle, pylons under wing, and clipped at wing. Aircraft engine nacelles have applications in civil jet, business jet, private jet, and other aircraft, including military aircraft.
Global Aircraft Engine Nacelle Market is growing at a rapid rate due to the increase in air passenger traffic and the subsequent demand for new aircraft, increased demand for fuel-efficient and noise-reducing nacelles, and decline in the cost of composite materials. However, backlogs in aircraft deliveries are expected to hamper the growth of the market during the forecast period.
There has been a significant increase in demand for aircraft engine nacelles with the increasing demand for new aircraft. A nacelle is a vital component of an aircraft. It is used to house an aircraft engine, fuel, and various systems of an aircraft engine. Therefore, the increase in air passenger traffic and subsequent demand for new aircraft are expected to drive the growth of the global aircraft engine nacelle market during the forecast period.
Global Aircraft Engine Nacelle Market Growth, 2018–2026North America accounted for 37.62% share of the global aircraft engine nacelle market in 2018, followed by Europe. Asia-Pacific accounted for the third-largest market share in 2018. Asia-Pacific is expected to be the fastest-growing market for aircraft engine nacelle during the review period.
Global Aircraft Engine Nacelle Market has been segmented based on type, material, application, and region. By type, segments of the market are rear mounted nacelle, pylons under wing, clipped at wing, and others. By material, the market has been classified as composites, titanium alloys, nickel chromium, stainless steel, and aluminum alloys. Based on the application, the market has been divided into civil jet aircraft, business jet aircraft, private jet aircraft, and others.
Global Aircraft Engine Nacelle Market SegmentationThe nickel alloys segment is expected to grow at the highest CAGR during the forecast period.
Nickel chromium has good hardness, strength, and corrosion-resistant characteristics and is used in heat-processed forgings that need higher hardness and strength as compared to plain carbon steels. Owing to their excellent corrosion resistance and good hardness nickel chromium alloys have been widely used in aircraft components from the last few years. Thus, the nickel-chromium segment is expected to register a CAGR of 9.05% during the forecast period. The segment accounted for a larger market share of 21.33% in 2018, with a market value of USD 968.2 Million.
Global Aircraft Engine Nacelle Market has been segmented, by region, into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.North America accounted for the largest market share in 2018. It is expected to be the largest market for aircraft engine nacelles during the forecast period. The regional market growth is primarily driven by the high product demand from the players based in the US and Canada. It is expected that approximately 10,000 aircraft would be in service in the region by 2035, which is expected to create additional opportunities for the players operating in the North America aircraft engine nacelle market. Moreover, the increasing revenues of airlines headquartered in the region are also projected to boost the growth of the market. According to the International Air Transport Association (IATA), North American carriers are expected to generate USD 16.6 billion in net profits in 2019 as against USD 14.7 billion in 2018. However, the ongoing COVID-19 pandemic is expected to hamper the growth of the market in the region. Owing to travel restrictions and global recession, the air transport revenue in North America is expected to fall by USD 50 million in 2020, according to IATA.
The Key Players in the Global Aircraft Engine Nacelle Market are Safran (France), United Technologies Corporation (US), Leonardo SpA (Italy), Bombardier (Canada), ST Engineering (Singapore), Nexcelle (US), GKN Aerospace Services Limited (UK), Triumph Group (US), Aernnova Aerospace S.A. (Spain), and Barnes Group Inc. (US).
- In October 2019, Safran provided nacelle systems for Gulfstream Aviation's G700 business jet. The contract enabled the company to expand its customer base.
- In October 2019, Safran signed an agreement with Virgin Atlantic Airways Ltd to provide MRO services for the latter’s Airbus A330ceo fleet of thrust reversers. The agreement enabled the company to expand its customer base.
- In September 2019, Safran signed a contract with All Nippon Airways to provide MRO services for the latter’s A380 jetliner fleet nacelles.
- By Type: Rear Mounted Nacelle, Pylons Under Wing, Clipped at Wing, and Others
- By Material: Composites, Titanium Alloys, Nickel Chromium, Stainless Steel, and Aluminum Alloys
- By Application: Civil Jet Aircraft, Business Jet Aircraft, Private Jet Aircraft, and Others.
- By Region: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (type/material/application) is driving market growth?
- What will be the growth rate from 2019 to 2026?
- Who are the key players in this market?
- What are the strategies adopted by the key players?
Frequently Asked Questions (FAQ) :
The global aircraft engine nacelle market will be expanding at 8.98% CAGR in the future.
The growth period for the global aircraft engine nacelle market is 2018–2026.
Global Aircraft Engine Nacelle Market is growing owing to the surge in air passenger traffic and the subsequent demand for new aircraft, amplified demand for fuel-efficient and noise-reducing nacelles, as well as turn down in the cost of composite materials.
North America occupied 37.62% share of the global aircraft engine nacelle market in 2018.
Europe, North America, Middle East & Africa, Asia-Pacific, and Latin America are the regions studied to understand the dynamics of the market regionally.
Key Questions Answered
Request Free Sample
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
Why Choose Market Research Future?
Speak to Analyst
- ✅Vigorous research methodologies for specific market.
- ✅Knowledge partners across the globe
- ✅Large network of partner consultants.
- ✅Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- ✅Trusted by fortune 500 companies/startups/universities/organizations
- ✅Large database of 5000+ markets reports.
- ✅Effective and prompt pre- and post-sales support.