Aircraft Engine Gearbox Market Report Overview
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The global aircraft engine gearbox market size increased in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with aircraft engine gearbox experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
A box containing mechanical components, a block, and a gear train comprises a series of gears integrated into the housing. The term "gearbox" refers to a box of gears by definition. Like other systems, the transmission modifies the torque and speed between the load and the driving apparatus, such as a motor. A transmission has a variety of gears, including helical gears, planetary gears, spiral bevel gears, bevel gears, and spiral bevel gears. A transmission is a mechanical mechanism that enhances the torque and decreases speed while transferring power from one device to another. The gearbox of an aircraft transmission is used to change the speed. The transmission is frequently used in helicopters, commercial and general aviation, and passenger and military aircraft.
A gearbox is a type of transmission system that alters rotational speed. Most jet engines have auxiliary drive gearboxes that power the necessary oil pumps, hydraulic pumps, and AC generators. One drive shaft powers the gearbox if the engine has multiple compressor segments. The gearbox uses a reduction gear to reduce the speed of the shaft connecting the two engines. The segment of the fan that spins slower than the component of the turbine in a turbofan or fan-spinning turbojet engine. As a result, the gearbox functions to link shafts and lowers engine speed.
COVID-19 Impact: Supply Chain Disruption Impeded Market Growth
The global increase in passenger traffic, which supports the aviation industry, the increased investment in infrastructure, and regional governments' initiatives to develop local manufacturing capabilities are some of the factors driving the aircraft gearbox market. These factors improve an aircraft gearbox's operational efficiency and lower its overall carbon footprint. The manufacturing and supply chain industries experienced a negative impact on how the aviation gearbox industry consolidated. Due to the ongoing crisis between Russia and Ukraine, major manufacturers of aircraft gearboxes like Boeing, General Electric, Rolls Royce, and CFM International are exiting the Russian market.
LATEST TRENDS
"Enhanced Fuel Efficiency to Augment Market Demand"
The demand for aircraft engine gearbox is expected to grow due to improved fuel efficiency, small size, and lightweight. Airline companies have expanded the number of their planes to meet the growing demand for air travel. The aircraft engine gearbox market growth is anticipated to develop due to this need for new aircraft. Also, the growing concern over lowering carbon emissions has taken attention away from developing new aviation engine types, such as electric or hybrid engines, which are predicted to drive market expansion. The expansion of the aviation engine market is anticipated to be constrained by the ongoing backlog in aircraft deliveries.
Aircraft Engine Gearbox Market Segmentation
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- By Type Analysis
By type, the market is segmented into reduction gearbox (RGB), accessory gearbox (AGB), actuation gearbox, tail rotor gearbox, APU gearbox, and others.
- By Application Analysis
Based on application, the market is classified into civil and military aircraft.
DRIVING FACTORS
"Steady Adoption of Fuel-Efficient Aircraft to Bolster Market Growth "
The development of fuel-efficient aircraft is a top priority for major OEMs and aircraft producers worldwide. Fuel cost increases have prompted manufacturers to concentrate on improving the aircraft's fuel economy. The overall weight of an aero plane can be decreased to boost fuel efficiency, which has prompted various manufacturers to create lightweight aircraft engine gearbox. The industry is expanding due to the use of lightweight materials like carbon fiber, reinforced plastic, and other composite materials that are both light and strong.
"Constant R&D Activities On Product Development to Surge Product Demand"
The market for aircraft gearboxes is driven by several factors, including extensive research and development efforts made by global players to improve an aircraft gearbox's operational efficiency and reduce its overall carbon footprint, an increase in passenger traffic worldwide that supports the aviation industry, an increase in infrastructure investment, and initiatives by regional governments to build local manufacturing capacities. The market consolidation of aircraft engine gearbox will be significantly influenced by the manufacturing and supply chain sectors. Major producers of aircraft gearboxes, including Boeing, General Electric, Rolls Royce, and CFM International, are leaving the Russian market due to the ongoing conflict between Russia and Ukraine.
RESTRAINING FACTORS
"Products Long Life Span to Impede Market Expansion"
Long life cycles are built into aircraft engines by design. But it can be a factor that slows the market's expansion. There won't be a need for new engines other than brand-new aeroplanes because of these engines' lengthy lifespan. Because engines last so long, the market is anticipated to suffer. Moreover, production delays for aeroplanes have had a significant negative impact on aircraft engine gearbox market growth. Backlogs in aircraft production are preventing aircraft engine deliveries since the production of aircraft and aircraft engines are strongly correlated.
Aircraft Engine Gearbox Market Regional Insights
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"Asia Pacific to Lead Market Due to the Rising Government Investment in Defense Sectors"
Asia Pacific is estimated to hold a leading part of the aircraft engine gearbox market share owing to the growing investments in the defense sector by the government. Moreover, it has created the demand for fighter aircraft and military helicopters in the country. Furthermore, the accelerating air passenger traffic created various growth opportunities for the region.
North America is estimated to show significant growth due to the strong presence of key market players such as Honeywell and GE Aviation.
KEY INDUSTRY PLAYERS
"Key Companies to Emphasis On the Development of Advanced Technology"
Major market participants spend a lot of money on the product's development and research. Businesses are concentrating on releasing cutting-edge items. Leading players are placing more emphasis on securing alliances, mergers, and purchases. The top market participants work hard to keep their alliances with other important figures in the same sector. Creating alliances with other businesses will help you build a solid customer base on the international market. To increase their aircraft engine gearbox market share in the worldwide market, the major rivals are implementing both organic and inorganic growth tactics.
List of Market Players Profiled
- Aero Gearbox International (France)
- Aero Gear (U.S.)
- Avion (U.S.)
- CEF Industries (France)
- Liebherr (Switzerland)
- Northstar Aerospace (U.S.)
- PBS Velka Bites (Czech)
- Safran (France)
- SKF (Sweden)
- Triumph (U.K.)
- United Technologies (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
Frequently Asked Questions
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Which region is expected to dominate the global aircraft engine gearbox market?
Based on our research, the aircraft engine gearbox market is expected to be led by Asia Pacific.
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Which are the driving factors of the aircraft engine gearbox market?
Steady adoption of fuel-efficient aircraft to bolster market growth and the constant R&D activities on product development to surge product demand are driving the aircraft engine gearbox market.
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What are the segments of the aircraft engine gearbox market?
By type, the aircraft engine gearbox market is segmented into reduction gearbox (RGB), accessory gearbox (AGB), actuation gearbox, tail rotor gearbox, APU gearbox, and others. Based on application, the market is classified into civil and military aircraft.
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Which are the top companies operating in the aircraft engine gearbox market?
Aero Gearbox International, Aero Gear, Avion, CEF Industries, Liebherr, Northstar Aerospace, PBS Velka Bites, Safran, SKF, Triumph, and United Technologies are the top companies operating in the aircraft engine gearbox market.
