The aircraft engines, parts and equipments market is projected to attain about USD 266 billion by 2019. The forecast phase lasts from 2013 to 2019. The market was predicted to have collected revenue worth around USD 189 billion in 2012. It is likely to register a CAGR of about 5 percent through the forecast period. The market makes engine parts, aircraft engines, rotors, airframes, propellers, fuselage, landing gears, hydraulics, avionic systems and electric controls.
Of all these, airframes and landing gears are projected to witness swifter development. Both these sectors jointly made up for around 72 percent of the total income of the aircraft engines, parts and equipments market in 2012. Engines and other elements constitute around 45 percent of the worldwide market. The United States, Japan, Canada, United Kingdom and France are all primary manufacturers in the aircraft engines, parts and equipments market.
The market has an intermediate level of focus, with two biggest producers of aircrafts, Airbus and Boeing, occupying in excess of 50 percent of the entire share. It is also propelled ahead by growing demand for aircrafts as a result of development of networks by airlines. The aircraft engines, parts and equipments market is also affected directly by the kinds of aircrafts. The bigger the size of aircrafts, more are the materials and systems needed for them.
Escalating demand for private and commercial airplanes owing to air travel trends is also propelling further demand for the market. Enhancements in technologies and advanced trends also contribute towards further growth of the aircraft engines, parts and equipments market.
Posted on Apr 20, 2015 | Category Technology