The research study conducted by Report Ocean on the “ Aircraft Propulsion System Market” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Aircraft Propulsion System Market is valued at approximately USD $$billion in 2022 and is anticipated to grow with a healthy growth rate of more than $$over the forecast period 2023-2030. A propulsion system is a machine utilized for aircraft movement and flight assistance. It comprises an engine, a propeller, and additional components. The engine generates propeller motion, producing thrust to propel the aircraft forward. The growth of the global aircraft propulsion system market is primarily fueled by the rising utilization of aircraft and helicopters. Additionally, the market expansion is driven by the advancement of unmanned aerial vehicles designed for combat missions.
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Moreover, the growing airline industry plays a significant role in supporting the growth of the Aircraft Propulsion System Market. As the airline industry expands, there is a higher demand for aircraft to accommodate more passengers and reach new destinations. This increased demand directly translates into a greater need for aircraft propulsion systems. According to Statista, in 2020 the global airline industry was valued USD 391.22 billion, and the industry increased significantly and reached USD 785.64 billion in 2022. Additionally, advancements in electro-thermal propulsion systems and radio frequency (RF) ion thrusters are anticipated to create a lucrative opportunity for the market. However, the rise in crude oil prices stifled market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Aircraft Propulsion System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the presence of key market players, growing commercial aviation sector, and growing number of space crafts, missiles and UAVs in the region. Asia Pacific is expected to grow at fastest growth rate during the forecast period, owing to growing air travel, rising defense expenditure, fleet modernization and supportive government initiatives.
Major market player included in this report are:
Bombardier Recreational Products Inc.
Honeywell International Inc.
United Technologies Corporation
General Electric Company
Aerojet Rocketdyne Holdings, Inc.
NPO Energomash.
Rolls-Royce Holdings plc.
Busek Co. Inc.
3W International GmbH
Jabiru Aircraft Pty Ltd
Recent Developments in the Market:
In April 2023, Aerospace startup Tehiru partnered with Pangea Aerospace to utilize Pangea’s ARCOS methalox aerospike engine for Tehiru’s innovative thermo-electric rocket booster. This collaboration focuses on improving rocket technology’s cost-efficiency, sustainability, and reusability. Tehiru’s rocket, incorporating the ARCOS engine, enables the transportation of payloads weighing up to 550 kg to low Earth orbit (LEO) as an essential part of their air-launch system.
In November 2021, Wright Electric, Inc., a prominent company in net-zero propulsion and aircraft design, unveiled a new addition to their lineup of zero-emissions aircraft designed for commercial use. The announcement coincides with the COP 26 UN Climate Change Conference in Glasgow, Scotland. Known as the Wright Spirit, this aircraft expected to feature Wright’s powerful electric propulsion system and cater to the one-hour, 100-passenger flight market.
Global Aircraft Propulsion System Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Air Breathing Engine
Non-air Breathing Engine
By Application:
Aircrafts
Missiles
UAV’s
Spacecraft
By End User:
Aerospace Defense
General Aviation
Commercial Aviation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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