Aircraft Propeller System Market: Drivers and Challenges

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Aircraft Propeller System Market Growth Factors,
Opportunities, Ongoing Trends and Key Players
2026 The report "Aircraft Propeller System Market
By Type (Fixed Pitch, Variable Pitch), Component
(Blade, Spinner, Hub), Engine (Conventional,
Hybrid Electric), Platform (Civil, Military),
End Use (OEM, Aftermarket), Region - Forecast
to 2026", size is forecasted to grow from an
estimated USD 308 million in 2021 to reach USD
414 million by 2026, at a CAGR of 6.1 during
the forecast period. Browse 215 market data
Tables and 37 Figures spread through 201 Pages
and in-depth TOC on "Aircraft Propeller System
Market - Forecast to 2026" Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id242092633 The growth of this market can
be attributed to the increasing demand for
lightweight and fuel-efficient aircraft from the
Middle East, Asia Pacific, and Africa. The
increasing adoption of unmanned aerial vehicles
in the military sector is further expected to
drive the demand for aircraft propeller systems,
especially from emerging economies such as India
and China. However, high costs associated with
the RD of new technologies and the formulation
of stringent norms to regulate the production and
development of aircraft propeller systems
inhibit the market growth across the globe. Based
on end use, the aircraft propeller system market
has been segmented into OEM (Original Equipment
Manufacturer) and aftermarket. The OEM segment is
estimated to account for a share of 51.9 of the
aircraft propeller system market, by end use, in
2021. The development of next-generation aircraft
propeller systems is one of the most significant
factors driving the growth of the aircraft
propeller system market across the globe.
Increased automation of flight operations,
technological advancements in the aviation
industry, and its expansion across the globe are
additional factors expected to fuel the growth
of the aircraft propeller system market during
the forecast period Based on the component
segment the blade segment is projected to grow at
a higher CAGR. The demand for propeller blades,
which provide the thrust required for an
aircraft to fly, is more than any other component
in aircraft propeller systems. Various aspects
are taken into consideration while manufacturing
propeller blades that include material used to
manufacture blades, their size and weight, and
the number of blades being manufactured. Thus,
these parameters and technical complexity
involved in developing propeller blades result
in their high costs.
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The aviation industry in the North American
region has been witnessing significant growth
over the past few years. It is one of the most
profitable industries in this region. Major
aircraft manufacturers such as Boeing (US) and
Bombardier (Canada) are also based in this
region. The growth of the aircraft propeller
system market in the North American region is
expected to be fueled by an increase in the
number of deliveries of medium and small-size
turboprop engine and piston engine airplanes
during the forecast period. Technological
advancements in the field of turboprop engine
and piston engine aircraft have led to
improvements in the operational capacities of
these aircraft to takeoff, balance, and land,
thereby increasing their applicability in both,
commercial as well as military sectors. Moreover,
turboprop engine aircraft with aircraft propeller
systems are fuel-efficient with improved
maneuvering capacities, thereby leading to
increased demand for aircraft propeller systems
in the North American region. In addition,
advancements in propulsion technologies and
designs of aircraft have also contributed to the
growth of the North America aircraft propeller
system market. The growing demand for turboprop
engine aircraft for civil commercial
applications and their increasing utility in the
defense sector for carrying out persistent
transport and surveillance activities are
additional factors influencing the growth of the
North America aircraft propeller system market.
North America has a high proportion of consumer
spending in the world, leading to increased
demand for air travel from the region. Key Market
Players Major players operating in the aircraft
propeller system Hartzell Propeller, Inc.
(Hartzell Propeller) (US), MT-Propeller
Entwicklung GmbH (MT-Propeller) (Germany), and
Dowty Propeller (UK) are the largest providers of
aircraft propeller systems in the North American
and European regions. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id242092633
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