North America Aeroengine Fan Blades Market to Reach US$ 3,654.86 million at a CAGR of 4.7% in 2027

North America Aeroengine Fan Blades Market

Turbofan Aeroengines to Dominate North America Aeroengine Fan Blades Market during 2019–2027

According to our new market research study on “North America Aeroengine Fan Blades Market to 2027 – Regional Analysis and Forecast by Engine Type and Material Type,”the market is expected to reach US$ 3,654.86 Mn by 2027 from US$ 2,558.26 Mn in 2019; it is estimated to grow at a CAGR of 4.7% from 2020 to 2027.The report provides trends prevailing in the North America aeroengine fan blades market along with the drivers and restraints pertaining to the market growth. The growth of the North America aeroengine fan blades market is attributed to the development of transport infrastructure across the region. However, high complexity of fan blade design and development may restrain the growth of the aeroengine fan blades market.

The aeroengine fan blades market, by engine type, is segmented into turbofan aeroengine, turboprop aeroengine, and turbojet aeroengine. The turbofan aeroengine segment held the largest share of this market in 2019. The OEMs in North America are focusing on the development and integration of advanced aeroengine fan blades, with the prime consideration of the type of aircraft engine wherein these blades are likely to be used. The presence of prominent manufacturers of aeroengine fan blades, such as General Electric, Rolls-Royce plc, and Pratt & Whitney,is likely to fuel the growth of the market in this region during the forecast period.

C-Fan, CFM International, Chaheng Precision Co. Ltd., GE Aviation, GKN Aerospace Services Limited, IHI Corporation, MTU Aero Engines AG, Pratt & Whitney, Rolls-Royce Holdings plc, and Safran S.A., are among the leading companies in the aeroengine fan blades market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Pratt & Whitney’s geared turbofan engines, which powered 350 planes in the globe and 97 in India has crossed over 1 million hours of service. It is considered as a substantial period for identifying and resolving problems with a new product.