The latest report by IMARC Group, titled "Aircraft Propeller Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global aircraft propeller systems market size reached US$ 333.6 Million in 2022. Aircraft propeller systems are devices that create relative motion by forcing the atmospheric air axially backward to facilitate the movement of an aircraft. They include two or more blades connected through a hub. These systems are primarily categorized into six types, namely reverse-pitch, controllable-pitch, fixed-pitch, constant-speed, feathering, and ground-adjustable. In addition, they are less expensive compared to turbofan engine aircraft and provide several advantages, such as shorter landings and takeoffs. Owing to these properties, aircraft propeller systems are widely utilized across the aviation industry.
Global Aircraft Propeller Systems Market Trends:
The market is primarily driven by the escalating demand for fuel-efficient engines with optimized performance in the aviation industry. In addition, the increasing requirement for safe, lightweight, and reliable aircraft systems for improved passenger safety represents another major growth-inducing factor. Besides this, the market is also propelled by the escalating demand for turboprop engine aircraft for commercial applications and their rising utilization in the defense sector for transporting and surveillance activities. Moreover, the introduction of new international short-distance routes is increasing the demand for piston-engine aircraft, thus augmenting the market growth. Other factors, such as extensive research and development (R&D) activities conducted by key players to introduce advanced propeller systems and the advent of improved aviation policies, are anticipated to create a positive market outlook in the coming years. Looking forward, IMARC Group expects the market value to reach US$ 452.1 Million by 2028, exhibiting a CAGR of 5% during the forecast period (2023-2028).
- Based on the type, the market has been classified into fixed and variable pitches.
- On the basis of the product, the market has been bifurcated into contra- and counter-rotating propellers.
- Based on the component, the market has been segregated into blade, spinner, hub, and others.
- On the basis of the platform, the market has been categorized into civil and military.
- Based on the engine, the market has been segmented into conventional, and electric and hybrid.
- On the basis of the end use, the market has been classified into OEM and aftermarket.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Aerosila, Airmaster Propellers Ltd, Dowty Propellers, DUC Hélices Propellers, FP-propeller Srl, GSC Systems Inc., Hartzell Propeller, Hélices E-Props, Hercules Propellers Ltd, McCauley Propeller Systems (Textron Aviation Inc.), MT-Propeller Entwicklung GmbH, Peter De Necker, Sensenich Propeller and Whirlwind Propellers Corporation.
|Base Year of the Analysis
||Type, Product, Component, Platform, Engine, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aerosila, Airmaster Propellers Ltd, Dowty Propellers, DUC Hélices Propellers, FP-propeller Srl, GSC Systems Inc., Hartzell Propeller, Hélices E-Props, Hercules Propellers Ltd, McCauley Propeller Systems (Textron Aviation Inc.), MT-Propeller Entwicklung GmbH, Peter De Necker, Sensenich Propeller and Whirlwind Propellers Corporation
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