North America Aeroengine Fan Blades Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Engine Type; Material Type

The Aeroengine fan blades market in North America was valued at US$ 2,558.26 million in 2019 and is projected to reach US$ 3,654.86 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027. The positive growth outlook of the North America aviation industry and growing number of air passengers across the region are the key factors driving the demand for Aeroengine fan blades. However, the time cost of design and development of fan blades, and large time requirements for the same limit the market growth. On the contrast, the rising demand for low- and ultralow-cost carriers and growing investments in composite material fan blades for enhanced capabilities are the factors that are likely to fuel the future demand for Aeroengine fan blades.

The Aeroengine fan blades market in North America is segmented on the basis of engine type, material type, and country. Based on engine type, the market is segmented into turbofan Aeroengine, turboprop Aeroengine, and turbojet Aeroengine. In 2019, the turbofan Aeroengine segment held the largest share of the market in North America, and it is also expected to register the highest CAGR during the forecast period. Based on material type, the North America Aeroengine fan blades market is segmented into titanium alloys, aluminum alloys, steel, and composites. Titanium alloys are the most widely used materials in Aeroengine fan blades, which is expected to continue during the forecast period. However, on the back of the advantages of composite fan blades, such as fuel efficiency, the market for this material is likely to grow at the highest CAGR during the forecast period.

The overall North America Aeroengine fan blades market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America Aeroengine fan blades market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America Aeroengine fan blades market. GE Aviation, Rolls-Royce Holdings plc, Safran S.A, CFM International, and Pratt & Whitney are among a few players operating in the North America Aeroengine fan blades market.

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