August 10,2022/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Nacelle Systems Market.
The Aircraft nacelle systems market is projected to reach an estimated value of US$ 10.3 billion in 2024.
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Aircraft Nacelle Systems Market Share by Aircraft Type
The global aircraft nacelle systems market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, Business Jet, and Military Aircraft. Narrow-body aircraft is expected to remain the growth engine of the global aircraft nacelle systems market during the forecast period, propelled by the introduction of fuel-efficient variants of best-selling programs (A320neo and B737 Max). Both commercial aircraft airframers (Boeing and Airbus) are enjoying huge order backlogs of their key aircraft programs and are increasing the production rates of A320 and B737 to meet the growing demand.
Aircraft Nacelle Systems Market Share by Material Type
Based on material type, composite is expected to remain the material of choice during the forecast period. There has been an incessant replacement of metals with composite materials owing to their excellent strength-to-weight ratio. Titanium is expected to witness the highest growth during the same period, driven by an increasing penetration, especially in exhaust components.
Based on the regions, North America is expected to remain the largest aircraft nacelle systems market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of aircraft nacelle systems in Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus of B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).
The supply chain of this market comprises raw material suppliers, nacelle component manufacturers, nacelle integrators, engine OEMs, aircraft OEMs, and airline companies.
The key aircraft nacelle system manufacturers are-
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