Global Commercial Aircraft Propeller Systems Market: Information by Component (Blade, Hub, Spinner, and Others), by Propeller Type (Fixed Pitch and Varying Pitch), by End Use (OEM and Aftermarket), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America)—Forecast till 2025
Commercial aircraft propeller systems find their application in piston-engine and turboprop-powered aircraft. The systems include blades, hubs, and electronic controls. The number of blades in a propeller system ranges from three to six (in a commercial aircraft). The blades are either made of aluminum or composite. The key advantage that composite-based propeller blades offer is reduced weight, which in turn reduces the fuel consumption.
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In commercial aviation, turboprop aircraft are primarily used for short-haul regional flights. As of 2015, turboprop accounted for 40% of the total global regional aircraft fleet (including regional jets). The average age of turboprop aircraft fleet is 19 years. North America and Europe have historically been the primary market for turboprops. However, the demand in APAC and the Middle East has further helped the market growth.
The market for turboprops had lost momentum with the rapid rise of regional jets since the mid-90s. However, they have started to regain the market share primarily in the regional transportation segment (aircraft with up to 100 seats).
A turboprop is considered to provide better fuel efficiency as compared to regional jets. Thus, with the rise in global fuel prices, turboprop is bound to become more popular among the regional airlines and low-cost carriers mostly operating in point-to-point short haul routes. Cost pressure plays an important role in airlines' choice for aircraft as it helps determine the operational cost.
OEMs, as well as PMA vendors, are involved in the manufacturing of propeller systems. Thus, the ongoing demand for turboprop aircraft largely supports the market for propeller systems.
For the convenience of the report and enhanced understanding; the commercial aircraft propeller systems market is segmented in to two key dynamics:
Segmentation by Solution: Blades, Hub Systems, and Digital Electronic Controls.
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.
APAC region has emerged as one of the potential markets for turboprop sales. As a result, manufacturers are focusing their new product launch targeting this region. For example, ATR, one of the leader in turboprop sales in the APAC market has launched two new versions of its ATR 72-600 in the region. The launch customers for both the versions are from APAC region, namely Cebu Pacific from Philippines and Air Niugini from Papua New Guinea.
ATR 72-600 consists of 568F-bladed propellers from Hamilton Sundstrand (merged with Goodrich in 2012 to form UTC Aerospace Systems). The company provides complete propeller system solutions including blades, hubs, and digital electronic controls that incorporate aerodynamics as well as control dynamics.
China, India, and the Philippines are some of the emerging aviation and aircraft propeller systems market in the APAC region, and their growth rates are expected to surpass other regions (EMEA and Americas) over the period 2016-2021. The aircraft propeller systems market is expected to grow in the future because of increased aircraft demand, aviation MRO activities, and aircraft parts production capability.
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Few of the countries in APAC are aggressively pushing for policies and reforms to attract the US and European aircraft and parts manufacturers to establish local operations in their respective countries. Since 2010, Malaysia has been offering corporate tax exemptions and other investment schemes to companies that invest in the local aviation industries. Many of the commercial aircraft suppliers are now concentrated in Southeast Asian countries like Singapore, Malaysia, Vietnam, Indonesia, Australia, and Thailand and are continually adding a wide range of parts manufacturing capacity to their portfolio.
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