Aircraft Thrust Reverser Market size is set to exceed USD 2.26 billion by 2026, according to a new research report by Global Market Insights, Inc.
The advancements in aircraft propulsion systems along with their increasing speed require reliable braking systems to bring an aircraft to halt successfully will drive the market growth. Aircraft thrust reversers do this by providing thrust in the opposite direction, thereby decelerating the aircraft during landing operations.
Increasing aircraft orders and deliveries in Asia Pacific will augment the market demand
Asia Pacific is showcasing a strong demand for commercial aircraft owing to enhanced regional air connectivity and increased air routes to new destinations. Rising air connectivity options will lead to increased foreign direct investments and foster better trade opportunities. This will eventually contribute in enhancing regional economic conditions.
The increasing need for restocking inventories coupled with the rising e-commerce platform is fueling the demand for widebody freighters. Cargo airlines are emphasizing on incorporating advanced propulsion engines for the safety and environmental performance of aircraft.
The growing prominence of narrow-body aircraft is attributed to growth in air passengers along with long distance air travel capabilities. Increasing prominence for the replacement of aging aircraft is further strengthening the market size.
Browse key industry insights spread across 175 pages with 250 market data tables & 22 figures & charts from the report, “Aircraft Thrust Reverser Market Size By Aircraft (Commercial [Narrow-body, Widebody], Regional, Business, Military), By Product (Cascade, Pivot, Bucket), By Manufacturing Process (Hand Layup, ATL/AFP, Resin Infusion), By Mechanism (Hydraulics, Electrical), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Business jets are expected to have substantial growth in the market over the coming years owing to rising number of high net worth individuals (HNIs) across the world. Increase in spending power of the HNIs in developed economies will drive need for business aircrafts, which will further propel the market demand.
Bucket product segment will grow at a more than 1% CAGR through 2026. This thrust reverser is mostly deployed in conventional aircraft that utilize pushrod and hydraulic actuator systems. Increasing aftermarket activities and large number of conventional aircraft with bucket thrust reversers are some of the factors boosting the segment growth.
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Resin infusion manufacturing process segment will hold over 20% global aircraft thrust reverser market share by 2026. The rising demand for higher aircraft production rates has surged the demand for the advanced manufacturing process. Increasing advantages of resin infusion manufacturing process, such as reduced cycle time and improved efficiency, will significantly contribute to the industry share.
Electric aircraft thrust reversers will witness growth at around 2% during the forecast period. This can be attributed to exclusion of fluids, reduced weight, simple design, and easy maintenance. Key manufacturers including Boeing and Airbus are adopting electric systems owing to advantages including lightweight, improved reliability, and enhanced performance.
Supportive government initiatives. will increase reversers popularity across Europe
Europe aircraft thrust reverser industry accounted for a significant share in 2019 and is estimated to dominate approx. 33% revenue share by 2026 due to presence of major aircraft manufacturers and supportive initiatives from the regional government. Government initiatives and supportive programs for reduced fuel emissions are supporting the market size.
The development of innovative products by major aircraft manufacturers in this region in compliance with safety regulations by authorities to increase overall efficiency will drive regional growth. Rising R&D investments by key players in Europe will propel the market growth.