Rising need for Nacelle Actuation system in the increasing number of airline fleet globally is a major factor for the growth of the market. Another factor for the growth of the market is the escalating demand for fuel-efficient and noise-reducing nacelles, thus, spurring the growth in the Nacelle Actuation System market.
Market Size – USD 726.3 Million in 2020, Market Growth -
CAGR of 5.90%, Market Trends – Increasing demand in the Asia Pacific region as
the countries in this region are looking forward to ramping up the size of
their airline fleet to satisfy the rising demand of airline passengers.
According to the current analysis by Reports and Data, the
Global Nacelle
Actuation System market was USD 726.3 Million in 2020 and is projected
to grow at a CAGR of 5.90%. Rise in the size of airline fleets globally is a
major factor helping the growth of the market.
Thrust reversal is the act of temporarily diverting the
thrust produced by an aircraft's engine so that it acts against the forward
travel of the aircraft, and thus providing the deceleration needed. Nacelle
actuation systems (also called Thrust Reverser Actuation systems) help activate
the nacelle and thus, engage the process of deceleration. Normal engine
operation is not affected by this system, because the ducts through which the
exhaust gases are deflected remain shut until the pilot activates the reverse
thrust. When this happens, the clamshell doors rotate to uncover the ducts and
close the normal exit. Then the thrust is directed in a forward direction by
vanes to oppose the aircraft's motion. There has been an increase in the demand
for fuel-efficient and noise reducing nacelles, which is another significant
reason for the rise of the Nacelle Actuation System market. The market is
forecasted to grow at a high CAGR by the year 2026 on account of development
and procurement of new generation of aircraft and engines. However, the
difficulty faced in repairing or remolding the aircraft nacelles will be a
major factor restraining the growth of the market over the forecast period.
With the rise in the number of new airlines adding up to the
fleet, the old fleet will be in need of repairs. This will also help the growth
of the market as the old fleet will demand hydraulic type of mechanism, thus
spurring the segment growth over the forecasted period.
On the basis of mechanism, the market is segmented into
Hydraulic and Electric, with Hydraulic mechanism occupying over 70% share in
the market in 2018. Increasing demand for precisely operating components will
be the major factor for the growth of the Electric mechanism segment over the
forecast period.
The increasing number of security issues globally will
increase the demand for Nacelle Actuation System further over the forecast
period of 2019-2028.
Key participants
include Woodward, Inc. (U.S.), Arkwin Industries (U.S.), Honeywell
International (U.S.), Safran (France), Collins Aerospace (U.S.), Triumph Group
(U.S.), Parker Hannifin Co. (U.S.), Diakont (U.S.), Ametek (U.S.), and Nordan
(Norway).
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Further key findings from the report suggest
- The
rising number of airline fleets globally is a major factor for the
increase in demand for the Nacelle Actuation System market.
- North
America is predicted to occupy the largest share in the market on account
of its massive airline fleet. Another major factor is the increasing
number of aging airline fleet in the region over time, which is helping
the growth of the industry.
- A
potential opportunity for the market players lies in the Asia Pacific
region, where countries like China and India are ramping up their airline
fleet to satisfy the demand for rising airline passengers. The Asia
Pacific region is forecasted to grow the fastest over the forecast period
until 2026.
- By
Mechanism, the market is segmented into Hydraulic and Electric. Hydraulic
segment occupied the largest share in the market with a share of over 70%
in 2018. The Electric segment is forecasted to grow with the fastest CAGR
through the forecast years on account of the increasing need for precise operating
components in the aviation industry.
- It
is projected that the total global fleet will increase to 37,978, up from
26,307 in 2018. Narrow-body aircraft will be the biggest beneficiary of
this expansion, rising from about 56% of the fleet in 2018 to more than
66% by 2028.
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Summary
For the purpose of this study, Reports and Data has
segmented the Nacelle Actuation System Market on the basis of Platform,
Mechanism, End-Use, and Region:
Platform (Revenue, USD Million; 2018–2028)
- Commercial
Aircraft
- Military
Aircraft
- Business
jets
Mechanism (Revenue, USD Million; 2018–2028)
- Hydraulic
- Electric
End-Use (Revenue, USD Million; 2018–2028)
- Original
Equipment Manufacturer (OEM)
- Maintenance
repair overhaul
Regional Outlook (Revenue in USD Million; 2018–2028)
- North
America
- Europe
- Asia
Pacific
·
Middle East & Africa
·
Latin America
Key Questions Answered In The Report
1. What will be the market size and growth
rate in the forecast year?
2. What are the key factors driving the
global Nacelle Actuation System market?
3. What are the risks and challenges in
front of the market?
4. Who are the key players in the global Nacelle
Actuation System market?
5. What are the trending factors
influencing the market shares?
6. What are the key outcomes of Porter’s
five forces model?
7. Which are the global opportunities for
expanding the global Nacelle Actuation System market?
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Table of Contents:
- Global Nacelle Actuation System
Market Overview
- Economic Impact on Industry
- Market Competition by
Manufacturers
- Production, Revenue (Value) by
Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing
Strategy and Downstream Buyers
- Supply (Production), Consumption,
Export, Import by Regions
- Production, Revenue (Value), Price
Trend by Type
- Global Nacelle Actuation System
Market Forecast
- Global Nacelle Actuation System
Market Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis,
Distributors/Traders
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