Overview and Scope
The aircraft nacelle and thrust reverser refer to the parts of an aircraft used for vital operations. An aircraft nacelle is a covering of an engine including a generator, low- and high-speed shafts, gearbox, brake, and control electronics. A thrust reverser is a vital component of many aircraft that enables faster landing deceleration and is a part of the nacelle system that assists the aircraft in slowing down after touchdown by operating against the aircraft's forward motion helping in reducing brake wear for shorter landing distances.
Sizing and Forecast
The aircraft nacelle and thrust reverser market size has grown rapidly in recent years. It will grow from $3.03 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to rise in aircraft production, regulatory compliance, fleet modernization, rise in passenger and cargo traffic, geopolitical factors.
The aircraft nacelle and thrust reverser market size is expected to see strong growth in the next few years. It will grow to $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to rise in defense budgets, electric aircraft development, air travel recovery, growing environmental awareness. Major trends in the forecast period include electric and hybrid propulsion integration, digital twins and simulation, integrated systems, thrust reverser innovation, noise reduction.
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Segmentation & Regional Insights
The aircraft nacelle and thrust reverser market covered in this report is segmented –
1) By Type: Aluminum Alloys, Titanium Alloys, Composites, Nickel Chromium, Stainless Steel
2) By Engine Type: Turbofan, Turboprop, Turbojet, Piston
3) By Application: OEMs, Maintenance And Repairs And Operations (MRO)
North America was the largest region in the aircraft nacelle and thrust reverser market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft nacelle and thrust reverser market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the aircraft purchases is expected to contribute to the growth of the aircraft nacelle and thrust reverser market. The growth of the aviation industry due to the rapid global transportation network, economic growth, creation of jobs, rising income, and facilitation of international trade and tourism has led to the increase in the purchase of aircraft by organizations driving the demand for aircraft nacelle and thrust reversers as these are essential components supporting critical functions of aircraft that are manufactured. For instance, in June 2021, United Airlines, a US-based major airline company announced the largest order for the 270 narrow-body jets. The order worth $30 billion was the largest in the industry by a single airline company in over a decade. The company is relying on a domestic travel boom and demand for premium tickets. This will create around 25,000 jobs over the next few years. In addition, in June 2022, Air India, an Indian flag carrier said to be considering ordering 300 narrow-body jets, one of the largest orders in commercial aviation history. The order is worth $40.5 billion. Thus, the increased aircraft purchases will drive the growth of the aircraft nacelle and thrust reverser market.
Key Industry Players
Major companies operating in the aircraft nacelle and thrust reverser market include Bombardier Inc., GKN Aerospace, Leonardo S.p.A., NORDAM Group Inc., Safran S.A., Collins Aerospace Corp., Spirit AeroSystems Inc., Middle River Aircraft Systems, Boeing Global Services Inc., GKN Fokker B.V., Nexcelle LLC, Daher AeroSpace Ltd., Advanced Integration Technology Inc. (AIT), Societe Nationale de Construction Aerospatiale, Stelia Aerospace North America Inc., Woodward Inc., ITT Inc., Aircelle SA, Saab Aerostructures AB, FACC AG, Lisnave - Estaleiros Navais SA, Shimadzu Corporation, Scandinavian Aircraft Systems AB, CT Engineering Group, MTU Aero Engines AG, Vallair Solutions Sàrl, Lufthansa Technik AG, Marshall Aerospace and Defence Group, Exotic Metals Forming Company LLC, Magellan Aerospace Corporation
The aircraft nacelle and thrust reverser market report table of contents includes:
1. Executive Summary
- Aircraft Nacelle And Thrust Reverser Market Characteristics
- Aircraft Nacelle And Thrust Reverser Market Trends And Strategies
- Aircraft Nacelle And Thrust Reverser Market - Macro Economic Scenario
- Global Aircraft Nacelle And Thrust Reverser Market Size and Growth
. - Global Aircraft Nacelle And Thrust Reverser Market Competitive Benchmarking
- Global Aircraft Nacelle And Thrust Reverser Market Competitive Dashboard
- Key Mergers And Acquisitions In The Aircraft Nacelle And Thrust Reverser Market
- Aircraft Nacelle And Thrust Reverser Market Future Outlook and Potential Analysis
- Appendix
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