Aircraft Engine Blade Global Market Report 2024

The aircraft engine blade market has grown strongly in recent years. It will grow from $15.4 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to various factors including the growth of the aerospace industry, heightened demand for air travel, requirements in military aviation, research and development advancements in materials science, the necessity for fuel efficiency, and the increase in low-cost carriers.

The aircraft engine blade market is expected to see strong growth in the next few years. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period is expected to be driven by several factors, notably stringent aviation safety standards, the progression towards electrification in aviation, the integration of additive manufacturing, the burgeoning regional aviation markets, and the renewal of aging aircraft fleets. Significant trends projected in this period include the formation of strategic alliances within the aerospace sector, the implementation of data-driven engine maintenance practices, advancements in blade coating technologies, the development of lightweight structures, the increasing utilization of 3D printing technology, and the integration of sensor technologies.

The anticipated surge in the adoption of cost-effective and fuel-efficient aircraft is poised to drive the growth of the aircraft engine blade market in the coming years. These aircraft, designed to curtail operational expenses and bolster environmental sustainability, integrate advanced technologies aimed at enhancing fuel efficiency, minimizing emissions, and reducing maintenance costs. Within these aircraft, aircraft engine blades play a crucial role, contributing to their durability and performance. For instance, according to the Commercial Market Outlook (CMO) 2022 released by the Boeing Company in July 2022, the demand for fuel-efficient aircraft is projected to escalate significantly, reaching an estimated 41,000 airplanes by 2041. This surge in the adoption of such aircraft models underscores the driving force behind the growth of the aircraft engine blade market. These planes are engineered to optimize efficiency and mitigate environmental impact, thereby elevating the demand for high-quality, resilient engine blades to sustain their operational excellence.

Advancements in composite materials stand out as a prominent trend within the aircraft engine blade market. Key players in this sector are concentrating on pioneering composite materials for manufacturing, aiming to fortify their market standing. For instance, in April 2022, Rostec, a Russia-based industrial conglomerate, introduced cutting-edge technologies for crafting aircraft engine blades. Leveraging high-precision equipment and specialized materials such as titanium alloy, they developed blades characterized by high-performance capabilities. This innovation aligns with the rising demand for more fuel-efficient and eco-friendly aircraft, contributing to reduced fuel consumption and emissions.

Major companies within the aircraft engine blade market are focusing on the development of upgraded High-Pressure Turbine (HPT) blades to drive market revenues. These upgraded HPT blades represent enhanced versions used in the high-pressure section of gas turbine engines. For example, in October 2023, CFM, a joint venture between GE Aerospace and Safran Aircraft Engines, introduced an enhanced High-Pressure Turbine (HPT) blade for its CFM56-5B and CFM56-7B engines. The new blade design features thicker walls to enhance durability and boasts tighter manufacturing tolerances, ensuring better fit and improved performance.

In November 2022, Aciturri Aeronáutica, a Spain-based aerospace company, acquired Malichaud Atlantique for an undisclosed sum. Through this acquisition, Aciturri aims to expand its technological and industrial capabilities, positioning itself as a TIER1 supplier. Malichaud Atlantique, based in France, specializes in manufacturing moving blades and turbine distributors for the aeronautics and energy sectors. This strategic move bolsters Aciturri's foothold in the market by broadening its offerings and expertise.

Major companies operating in the aircraft engine blade market report are CFM International, General Electric Company, Rolls-Royce Holdings plc, MTU Aero Engines AG, Albany International Corporation, Doncasters Group Limited, Safran S.A., Farinia S.A., RTX Corporation, AeroEdge Co. Ltd., GKN Aerospace Pvt. Ltd., Honeywell International Inc., Alcoa Corporation, Hi-Tek Manufacturing Pvt. Ltd., Aviadvigatel OJSC, PowerJet Engineering LLP, Textron Inc., Pratt & Whitney, Perm Engine Corporation, Omsk Engine Design Bureau, Aviastar-SP JSC, Howmet Aerospace Inc., Precision Castparts Corp., Avio Aero, Mitsubishi Heavy Industries Ltd., IHI Corporation, Kawasaki Heavy Industries Ltd., Siemens AG, Leonardo S.p.A., Liebherr Group.

North America was the largest region in the aircraft engine blade market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aircraft engine blade market duirng the forecast period. The regions covered in the aircraft engine blade market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the aircraft engine blade market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The aircraft engine blade market consists of sales of blade airfoils, shrouds, trailing edges and platforms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of aircraft engine blades include compressor blades, turbine blades, and fan blades. Compressor blades reside within the engine's compressor section, responsible for compressing incoming air before it reaches the combustion chamber. These blades are utilized across a spectrum of aircraft types, including commercial, general aviation, regional, and military, varying in blade sizes categorized as 0-20, 21-40, and 41-60. Materials used for these blades encompass titanium, nickel alloy, composites, among others. They cater to diverse end-users, including original equipment manufacturers (OEM) and the aftermarket industry.

The aircraft engine blade market research report provides aircraft engine blade market statistics, including aircraft engine blade industry global market size, regional shares, competitors with an aircraft engine blade market share, detailed aircraft engine blade market segments, market trends, and opportunities, and any further data you may need to thrive in the aircraft engine blade industry. This aircraft engine blade market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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