LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global aircraft engine nacelle market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global aircraft engine nacelle market will grow at a CAGR of over 6% during the forecast period. Technical advancements in existing engine and nacelle technology is a major factor driving the market’s growth.
An airline operator’s primary intent is to operate aircraft with maximum efficiency and low fuel consumption to reduce the overall operation and maintenance cost. A significant cost is incurred by airline operators in maintenance and overhaul of aircraft engine parts and components. Maintenance increases an aircraft's downtime. For efficiency and better performance, the airline operator focuses on choosing advanced material that provides extended reliability and durability for engine parts and components.
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In this report, Technavio highlights the additive manufacturing for engine components as one of the key emerging trends driving the global aircraft engine nacelle market:
Additive manufacturing for engine components
Additive manufacturing, which is also known as 3D printing, is a process where successive layers of materials are added either in the form of powder or liquid and are solidified with the help of a heat source to produce an object. This process helps manufacturers to produce complex designs. 3D printing process enables manufacturers to produce lightweight components. The additive manufacturing process allows cost-effective and easy manufacture of parts and components and allows quick designs and rapid alteration of internal features of the components. This is not possible with traditional manufacturing methods. At the same time, nacelle manufacturers are also adopting additive manufacturing techniques to develop parts and components.
“The implementation of 3D printing in the aerospace industry can ensure a reduction in assembly time, material wastage, and general costs. Adopting 3D printing in aerospace manufacturing will reflect long-term sustainability while guaranteeing upgrades in the overall performance of an aircraft. Additive manufacturing is being adopted by several engine manufacturers to produce engine components,” says a senior analyst at Technavio for research on aerospace products.
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Global aircraft engine nacelle market segmentation
This market research report segments the global aircraft engine nacelle market into the following applications (commercial aircraft, military aircraft, and business aircraft), engine type (turboprop engine and turbofan engine), and key regions (the Americas, APAC, and EMEA).
The commercial aircraft segment held the largest market share in 2017, accounting for nearly 78% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is military aircraft, which will account for 9% of the total market share by 2022.
The Americas was the leading region for the global aircraft engine nacelle market in 2017, accounting for a market share of 42%. By 2022, APAC is expected to witness the highest growth of nearly 3%.
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