Sellbyville, DE -- (SBWire) -- 10/19/2018 --Electric aircraft thrust reverser market is likely to exhibit gains at 5.5% over the forecast timeframe. The product offers reduced weight owing to eliminating implementation of corrosive heavy fluids. Industry players are developing electric thrust reverser for airplane fleet. In 2016, hydraulics accounted for major share of aircraft thrust reverser market. The dominance can be credited to simplified installation and functioning of the system.
Cascade is estimated to continue its dominance over the forecast study frame. The demand can be credited to growing installation in advanced new generation airplanes. Bucket aircraft thrust reverser is likely to exhibit growth at over 4% from 2017 to 2024. Shifting trends towards replacing the conventional air fleet with advanced aircraft will boost the product demand.
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Hand layup accounted for over 50% volume share of aircraft thrust reverser market in 2016. Advancement of the process contributing mass production, enhanced manufacturing method and ease in fiber processing are the major factors boosting the business demand. AFT/ATP will exhibit over 4.5% CAGR up to 2024. Shifting trend towards advanced production process along with automation offering reduced processing time is attributed to product growth.
Aircraft thrust reverser market is anticipated to exceed USD 2.2 billion over the forecast timeframe. Increasing demand of products offering superior safety to the airplane during aborted takeoff and landing will drive industry growth. Implementation of aircraft thrust reverser provides supplementary force particularly on wet, icy and slippery runways. Growing demand for commercial airplane can be credited to increasing air passengers, infrastructure development and price affordability.
Proliferating GDP is key factor supporting the air passenger growth. Shifting trends towards expansion of service-oriented business model, liberalization along with air travel are the factors supporting the aircraft thrust reverser market from 2017 to 2024. Manufacturers and airliners are focusing on enhancing the functional safety of the aircrafts. Demand for shorter landing distance offering less down time along with consistent safety checks will positively drive the product demand.
Complexity in product design coupled with high manufacturing and installation cost may challenge the business growth. Industry players are developing advanced process to reduce the production cost and cycle time for composite manufacturing with adoption of automated process. Industry participants are developing extended supply chain agreement and sole supplier with the aerospace manufacturers.
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In 2016, aircraft thrust reverser demand from large widebody airplane accounted around USD 40 million. The revenue generation can be attributed to expanding demand for airliner particularly from mature regions. Aircraft thrust reverser demand from single aisle plane will witness robust growth over 4.5% over the study timeframe. Positive outlook of commercial air plane particularly from developing economies owing to proliferating investment in aviation sector will boost the industry growth.
In 2016, North America aircraft thrust reverser market led by the U.S. contributed over 55% of the business share. The dominance can be credited to notable deliveries from the manufactures coupled with superior demand for single aisle airplanes in the region. The U.S. exports for airplanes and spacecraft accounted over USD 130 billion in 2015. Europe led by France, UK and Germany will witness significant growth in the exports over the forecast timeframe. Germany, UK and France collectively contributed around USD 115 billion in 2015. Stringent airline safety regulations in the region will positively drive the product penetration. Obligatory implementation, narrow and widebody airplane will support the aircraft thrust reverser market share.
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Asia Pacific led by Japan, India and China will witness robust growth up to 2024. This can be attributed to high demand for single aisle & widebody, proliferating passenger traffic, and regional deliveries. Growing population coupled with affordable air tariffs are the prime factors supporting the industry growth. Developing GDP, affordability, industry consolidation and stable economic performance will positively drive the aircraft thrust reverser market from 2017 to 2024.
Triumph Group, GKN Aerospace, Safran S.A., Nordam and UTC Aerospace Systems are among notable participants. Industry players are developing products sufficing the weight standards along with rigidity sufficing the aviation standards. Sharing risk with the air plane producers are the prime strategy implemented by the players in the aircraft thrust reverser market.
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Aircraft Thrust Reverser Market to Hit $2.2 Billion by 2024 : Companies Are Safran, Nordam, UTC Aerospace Systems, Triumph, GKN Aerospace
Electric aircraft thrust reverser market is likely to exhibit gains at 5.5% over the forecast timeframe.