The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aircraft Thrust Reverser Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aircraft Thrust Reverser Market is no different. Derived from the previous market scenario, the Aircraft Thrust Reverser Market is likely to reach an estimated value of US$ 4,761.7 million in 2024 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Market Share Analysis
Aircraft Thrust Reverser Market Share by Aircraft Type
The global aircraft thrust reverser market is segmented based on aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and Business Jets. Both, narrow- and wide-body aircraft are expected to remain the growth engines of the global aircraft thrust reverser market during the forecast period of 2019 to 2024. Increasing narrow- and wide-body aircraft deliveries to support rising passenger traffic, the introduction of fuel-efficient next-generation aircraft, and rising commercial aircraft fleet size across regions are the key factors that are propelling the demand for thrust reversers in these segments.
Aircraft Thrust Reverser Market Share by Product Type
Based on the product type, the global aircraft thrust reverser market is segmented as Cascade Type, Pivot Four Door Type, and Bucket Type. Cascade is expected to remain the most dominant and fastest-growing product type in the aircraft thrust reverser market during the forecast period of 2019 to 2024, owing to its extensive usage in commercial and regional aircraft programs.
Aircraft Thrust Reverser Market Share by Material Type
Based on the material type, the aircraft thrust reverser market is segmented as Composites and Metals. Composite is expected to remain the material of choice in the global aircraft thrust reverser market during the forecast period. There has been an incessant replacement of metal components with composite components, owing to their excellent strength-to-weight ratio at a relatively low weight. Metals, such as aluminum, titanium, and stainless steel, are primarily used in small sub-components, such as hinges and fittings.
Regional Insights
Based on the region, North America is expected to remain the largest aircraft thrust reverser market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The higher growth of aircraft thrust reverser in Asia-Pacific is mainly attributable to the increasing commercial aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; and upcoming commercial and regional aircraft, such as C919 and MRJ.
Key Players
The supply chain of this market comprises raw material suppliers, thrust reverser manufacturers, nacelle integrators, engine OEMs, aircraft OEMs, and airline companies.
The key aircraft thrust reverser manufacturers are-
- Safran S.A.
- Spirit AeroSystems, Inc.
- Collins Aerospace (UTC Aerospace Systems)
- GKN Aerospace
- Triumph Group, Inc
Development of lighter and optimized aircraft thrust reverser, setting up long-term contracts, and strategic collaborations are the key strategies adopted by the major players to gain a competitive edge in the market.