The key drivers of the Aero Engine Nacelles market are increasing demand for newer and more efficient engines, rising air traffic in emerging economies, a growing number of aircraft in military and civil applications, increasing preference for online booking systems & growth in space tourism. Growing demand for new-generation aircraft is expected to provide a major boost to the industry over the forecast period.
The need for aero-engine nacelles is mainly driven by the rising demand for aircraft, increasing air passenger traffic, and focus on environmental sustainability. Aero-engine nacelles are responsible for providing an aerodynamic flow to engines and thereby reducing their drag.
Advantages of Aero-engine nacelles include reduction in drag, better fuel efficiency, improved performance, and reduced maintenance costs. Moreover, the utilization of advanced composites and lightweight materials in the production of aero-engine nacelles is expected to further enhance their functionality.
Aero-engine nacelles are protective structures designed to provide an aerodynamic flow around aircraft engines. Nacelles are usually made up of several parts such as cowlings, fairings, exhaust pipes, and inlet guide vanes. The goal of aero engine nacelles is to minimize drag and increase engine performance.
Aero-engine nacelles market offers a range of services, including design engineering, manufacturing, and maintenance. The service providers offer customized solutions to meet the specific needs of customers. Aero-engine nacelles are also used for various military applications such as search and rescue operations, aerial refuelling, and surveillance missions.
The global aero engine nacelles market is estimated to reach USD 16.0 billion by 2031, growing at a CAGR of 5.5% over the forecast period 2021-2031.
The growth of the aero-engine nacelles market is restrained by the high cost associated with advanced composite materials used in the production of aero-engine nacelles and stringent government regulations. Additionally, the significant complexity involved in designing and manufacturing these components limits its demand among small players in the industry.
The global aero engine nacelles market is driven by rising demand for newer and more efficient engines, growing air traffic in emerging economies, an increasing number of aircraft in military and civil applications, growing preference for online booking systems, and growth in space tourism. Additionally, the utilization of advanced composites and lightweight materials in the production of aero-engine nacelles is expected to further boost the industry over the forecast period.
The major players operating in the Aero-engine nacelles market include Safran SA, UTC Aerospace Systems, MTU Aero Engines Gmb H, Rolls-Royce Holdings Plc, Delta TechOps, and others. These players are engaging in strategic collaborations such as joint ventures, mergers & acquisitions, and partnerships to gain a competitive edge over their competitors. Electric propulsion solutions are predicted to become increasingly popular in the worldwide market.
Additionally, 3D printing technology is expected to revolutionize the market by providing cost-effective and efficient solutions for manufacturing parts and components. Furthermore, the utilization of advanced composite materials such as carbon fibre-reinforced plastic (CFRP) and aluminium-l lithium alloys is anticipated to be another major trend in the market.
The wing hangs System Type to Emerge as the Most Lucrative Segment
Based on its capacity to handle harsh temperatures and high speeds, the wing hangs sector is predicted to increase the most throughout the forecast period. This type of nacelle helps reduce drag and improve engine performance. Additionally, tail-hanging nacelles are also expected to grow significantly due to their ability to offer a larger area for an inlet cooling system and reduce their weight.
The Most Popular Application Segment is the civil jet aircraft
Since of the rising demand for air travel and tourism in emerging nations, the civil jet aircraft category is predicted to increase the most throughout the projection period. Additionally, the private jet aircraft segment is also expected to grow significantly due to the rise in disposable income of individuals.
The Truck segment to Ensure Revenue Maximization
Due to increased air traffic and airline operations in many areas, the commercial end-use segment is predicted to expand the most throughout the projection period. Additionally, the military end-use segment is also expected to grow significantly owing to rising demand for newer aircraft from defence forces.
North America region to render Adequate Financing Avenues
North America is predicted to expand the most throughout the forecast period, owing to rising demand for newer, more efficient engines in commercial and military aircraft. Additionally, Asia- the Pacific region is also expected to grow significantly owing to rising air traffic in countries such as India, China, and Japan.
COVID-19 Impact and Market Status
The COVID-19 pandemic has heavily impacted the aero engine nacelles market. The disruption in production, supply chain, and transportation activities due to lockdowns implemented in various countries have led to delays and project cancellations for multiple aircraft programs. Additionally, a decrease in air travel due to restrictions imposed by governments of various countries is expected to hamper demand for new aircraft, thus impacting the market growth. However, the market is expected to revive by 2021 as production and transportation activities are likely to resume in full force after the pandemic subsides.
Recent Developments in the Aero Engine Nacelles Market
• In April 2019, UTC Aerospace Systems introduced its all-electric fan drive lift system for small commercial aircraft.
• In March 2020, Safran Nacelles announced the launch of its new Wide Chord Fan blade (WCF) for the LEAP-1A engine program.
• In February 2021, Rolls Royce and Safran introduced 3D-printed nacelle components for their Trent XWB-97 engine.
Aero Engine Nacelles Market Scope
|Revenue forecast in 2031
|USD 16.0 billion
|CAGR of 5.5% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Safran SA, UTC Aerospace Systems, MTU Aero Engines Gmb H, Rolls-Royce Holdings Plc, Delta TechOps, and others
Key Segment of Global Aero Engine Nacelles Market
By Type Overview (USD Billion)
• Wing Hang
• Tail Hang
By Application Overview (USD Billion)
• Civil Jet Aircraft
• Business jet aircraft
• Private Jet Aircraft
By End-User Overview (USD Billion)
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa