The Market of Aircraft Mechanical Power Transmission System to grow beyond US$ 2.2 billion by 2025
February 06, 2020
Aircraft Mechanical Power Transmission System Market Overview:
The demand for gearboxes in the aerospace industry has been vigorous in the last decade owing to the excellent organic growth of both civil and military aviation coupled with ongoing advancements in technologies; necessitating the importance of equipment. The aerospace industry has been one of the biggest users of the mechanical power transmission system in which gearboxes play the biggest role. The aircraft mechanical power transmission system market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2.2 billion in 2025.
Report Overview:
This new report from Stratview Research analyses the Aircraft Mechanical Power Transmission System Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
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
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Aircraft Mechanical Power Transmission System Market Segment Insights:
Commercial aircraft: The growth engine
Based on the aircraft type, the market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Strong order backlogs of the best-selling aircraft programs, such as B737 and A320 including their variants; upcoming aircraft programs, such as C919 and MC-21; and large aircraft fleet size are likely to create a healthy demand for the mechanical power transmission system in the commercial aircraft segment. The grounding of B737Max across the world may have some short-term impact on the demand for mechanical power transmission systems. The long-term outlook still seems impressive with good growth opportunities across the world.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/808/aircraft-mechanical-power-transmission-system-market.html
Dominance of: Turbofan Engine
Based on the engine type, the market is segmented into turbofan, turboshaft, turboprop, turbojet, and piston engine. Turbofan engine is expected to remain the dominant and the fastest-growing segment during the forecast period. Turbofan engines are majorly used in commercial aircraft, regional aircraft, and business jets. Increasing the production of commercial aircraft to meet the rising air passenger traffic across the globe is the major driving factor behind the dominance and high growth of turbofan engines.
A highly/moderately/fragment consolidated Market
The key players in the aircraft mechanical power transmission system market are AB SKF, BMT Aerospace, GE AVIO S.r.l. (Avio Aero), Kawasaki Heavy Industries Ltd., Northstar Aerospace, Inc., Safran SA (Safran Transmission Systems), The Liebherr Group, The Timken Company, Triumph Group, Inc., and United Technologies Corporation. The formation of long-term contracts, new product developments, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.
Regional Hegemony of North America
North America is projected to remain the largest market for aircraft mechanical power transmission systems during the forecast period. The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft in the world. Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption. Currently, the increasing production rate of the next-generation aircraft (B787 and F35) with improved engine performance is paving the path for the mechanical power transmission system market in the region. The opening of assembly plants of the A320 and A220 aircraft programs by Airbus in the USA further assures a healthy growth of the market in the region.
Asia-Pacific is likely to witness the highest growth in the aircraft mechanical power transmission system market during the forecast, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi Space Jet).
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