The aircraft nacelle and thrust reverser market is estimated to register a CAGR of nearly 6% during the forecast period of 2018 to 2023.
The global aircraft nacelle and thrust reverser market has been segmented based on application, end-user, engine type, component and region.
Based on application, the aircraft nacelle and thrust reverser market is divided into civil aviation and military aviation. Over the years, large markets, such as the US, Europe, and Asia-Pacific witness increased expenses by the passengers, due to the rising income levels of the expanding middle-class population in these regions. Moreover, global air travel is made easy and available by low cost carriers, whilst airlines are increasing the services to various geographical locations. This results in an increased focus on the expansion of aviation industry, around the world. As of 2016, there were over 23,000 airplanes in service, and this number is expected to double itself, over the next 20 years. In addition, the increasing air travel in the Asia-Pacific region, especially in countries such as China, Indonesia, and India, has significantly contributed to the increased demand for new commercial aircraft, eventually resulting in increased engine components and fueling the market for nacelle and thrust reversers as well.
Based on end-user, the aircraft nacelle and thrust reverser market is divided into OEM and aftermarket. The OEM segment is estimated to account for the largest market share while the aftermarket segment projected to witness a higher CAGR during the forecast period as nacelle and thrust reversers require timely checks, maintenance, and replacement in necessary in order to enhance safety.
Based on engine type, the aircraft nacelle and thrust reverser market is divided into turbofan, turboprop and other engines. Turbofan generates more thrust for nearly the same amount of fuel used by the core and hence is being widely procured by airlines around the globe.
Based on component, the aircraft nacelle and thrust reverser market is divided into nacelle (inlet cowl & fan cowl) and thrust reverser. The nacelle segment accounted for the largest market share while the thrust reverser segment is expected to witness the highest CAGR as these systems are widely being incorporated in order to reduce wear on brakes & tires and enable shorter landing distances.
Based on region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increasing demand for both commercial and combat aircraft and rise in number of airlines in countries such as China, and India.
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The key players in the global aircraft Nacelle and Thrust Reverser market are Aircelle (a part of Safran SA (France)), Collins Aerospace (a part of United Technologies Corporation (US)), FACC AG (Austria), GKN Aerospace (UK), Leonardo SpA (Italy), Middle River Aircraft Systems (a part of GE Aviation (US)), Nexcelle (a MRAS/Safran joint venture (US)), Sicamb SpA (Italy), Spirit AeroSystems, Inc. (US) and Westfield Hydraulics Inc. (US).