PUNE, India, November 7, 2017 /PRNewswire/ --
The report "Aircraft Propeller System Market by End-Use Industry (OEM, Aftermarket), Propeller Type (Fixed Pitch, Varying Pitch), Aircraft Type (Military, Civil & Commercial), Component (Blade, Hub, Spinner, Others), & Region - Global Forecast to 2022", published by MarketsandMarkets™, is estimated to be USD 246.6 Million in 2017 and is projected to reach USD 329.9 Million by 2022, at a CAGR of 5.99% during the forecast period from 2017 to 2022.
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Browse 60 Market Data Tables and 36 Figures spread through 125 Pages and in-depth TOC on "Aircraft Propeller System Market"
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The growth of the aircraft propeller system market is driven by the increasing demand for lightweight and fuel-efficient aircraft from North America, Asia Pacific, the Middle East, and Africa and rising number of deliveries of Special Light-Sport Aircraft (SLSA) across the globe.
The blades component segment is expected to lead the aircraft propeller system market during the forecast period.
Based on component, the aircraft propeller system market has been segmented into blades, hubs, spinners, and others. The blades component segment is expected to lead the aircraft propeller system market during the forecast period from 2017 to 2022. Based on material, the blades component segment of the market has been further classified into metal, composite, and wood.
The military aircraft type segment is projected to lead the aircraft propeller system market from 2017 to 2022.
Different types of military aircraft are operated under extreme conditions during critical defense missions or rescue operations. Aircraft propellers of military aircraft have a high tolerance against wear and tear to meet specific performance requirements. Since the quality of propellers with ultra-high performance and high durability plays a key role in military aircraft, the key players in the aircraft propeller system market are focusing on carrying out innovations in designs of their aircraft propellers systems. As the manufacturing costs of military aircraft are higher than commercial aircraft, the market for aircraft propellers used in military aircraft is expected to witness significant growth between 2017 and 2022.
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The North American region is estimated to account for the largest share of the aircraft propeller system market in 2017.
Advancements in propulsion technologies and designs of propeller blades used in different types of aircraft are expected to fuel the growth of the North America aircraft propeller system market during the forecast period from 2017 to 2022. Furthermore, the Asia Pacific aircraft propeller system market is projected to grow at the highest CAGR during the forecast period. The growing demand for different types of turboprop engine aircraft for civil & commercial applications and increasing deployment of turboprop engine aircraft in the defense sector for transportation applications are additional factors influencing the growth of the Asia Pacific aircraft propeller system market.
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Hartzell Propeller (US), MT-Propeller (Germany), Dowty Propellers (UK), McCauley Propeller Systems (US), Airmaster Propellers (New Zealand), FP Propeller S.r.l. (Italy), and Ratier-Figeac (France) are some of the established players in the aircraft propeller system market. These leading players offer systems, products, and services based on advanced technologies. They also provide a broad range of engineering, technical, aftermarket, refurbishment, and information services for aircraft propeller systems.
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