Engine Nacelle Market Size, Share, Growth, and Industry Growth by type (Rear Mounted Nacelle, Pylons Under Wing, Clipped at Wing, and Others) By Application (Civil Jet Aircraft, Business Jet Aircraft, Private Jet Aircraft, and Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The engine nacelle market size is estimated to be USD 6.9392 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with engine nacelle experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 11.380 billion by 2028, exhibiting a CAGR of 8.6% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Engine nacelle system is the aerodynamic structure. The structure is surrounds a jet engine. The equipment commonly referred as cowling, engine, and encompass other components such as thrust reverser, inlet cowl, exhaust system, core cowl, and fan cowl.

The factors are anticipated to fuel market growth are growing demand for commercial and business aircraft. Increased need for aircraft engine in order to generate new aircraft. The equipment provides fuel-efficient, and noise –reducing. These properties of the equipment are anticipated to accelerate market progress over the forecast period. High demand for 3D-printed aircraft engine is predicted to propel market progress. Further, growing air traffic passengers worldwide is anticipated to boost market growth in the upcoming years. The equipment helps to slow down the aircraft after landing by redirecting the exhaust gases. Growing airspace modernization coupled with introduction of advanced aircraft systems are estimated to expand market growth. On the contrary, high cost associated with manufacturing activities coupled with fluctuation of raw material prices to hamper market growth over the forecast period.

COVID-19 Impact: Closure of Aviation and Consumer Electronics Sectors to Hamper Market Growth

An outbreak of COVID-19 pandemic encouraged several challenges for several businesses. The market witnessed slowdown in economic growth due to closure of aviation and consumer electronics sectors. Gap in supply and demand chain coupled with lockdown restrictions to restrict market progress. Further, social distance protocols and halt in production activities to minimized market progress. 

LATEST TRENDS

"Increase in Airspace Modernization Programs to Foster Market Growth"

Growing need for airspace modernization programs is anticipated to fuel market growth. Airspace sector is expanding it requires advanced programs to operation coupled with high need to adopt innovative programs is estimated to surge market growth. The equipment is lightweight and effective which is predicted to fuel market progress. High demand for 3D-printed aircraft engine is predicted to propel market progress. Further, growing air traffic passengers worldwide is anticipated to boost market growth in the upcoming years. The equipment helps to slow down the aircraft after landing by redirecting the exhaust gases. These features are projected to foster engine nacelle market growth.

RESTRAINING FACTORS 

"High Cost Associated with the Equipment and Fluctuation of Raw Material Prices to Reduce Market Growth"

High cost associated with manufacturing activities coupled with fluctuation of raw material prices to hamper market growth over the forecast period.

SEGMENTATION

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• By Type

Based on type, the market is divided into, pylons under wing, rear mounted nacelle clipped at wing, and others.

Rear mounted nacelle is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into, business jet aircraft, civil jet aircraft, private jet aircraft, and others.

Civil jet aircraft is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Need for Protection and Safety to Boost Engine Nacelle Adoption"

Increased need for aircraft protection from fire coupled with providing better safety for numerous types of aircrafts such as commercial, regional jets, businesses, and mainline jets are estimated to expand market growth. The demand for the equipment is expanding for its benefited functions such as management of external and internal temperature, protection from lighting and fire, and it provides aesthetic appearance in the aircrafts. These features are anticipated to accelerate market progress. High demand for the product in the developed and developing regions are projected to foster market growth. Also, it takes up loads between the pylon and engine are expected to offer lucrative growth opportunity for the engine nacelle market.

"Increased Demand for Commercial Aircraft to Surge Market Progress"

Increased demand for commercial aircraft globally due to high spending capacity is estimated to surge market growth. Aircraft is considering as a good mean of communication coupled with rapid urbanization is predicted to fuel market growth. The adoption of the aircraft is effective and fuel-efficient which is anticipated to surge market progress. Rapid development in aviation sector is predicted to surge market growth. Increased investment by prominent market players is estimated to foster engine nacelle market progress over the forecast period.

REGIONAL INSIGHTS

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"Presence of Key Players in North America to Drive Market Share"

North America is anticipated to steer engine nacelle market share owing to presence of key players such as Boeing, Triumph, United Technologies Corporation, and others. growing demand for commercial and business aircraft. Increased need for aircraft engine in order to generate new aircraft. The equipment provides fuel-efficient, and noise –reducing. These properties of the equipment are anticipated to accelerate market progress over the forecast period. High demand for 3D-printed aircraft engine is predicted to propel market progress. Further, growing air traffic passengers worldwide is anticipated to boost market growth in the upcoming years.

Asia Pacific is predicated to capture an expanding market growth due to increase for commercial fight. High demand for fuel-efficient and noise-reducing nacelles in the region is predicted to expand market growth.

Europe is expected to exhibits significant market growth owing to increased demand for aircraft engine and presence of key players are estimated to fuel engine nacelle market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Safran (France)
• UTC (Goodrich) (U.S.) T
• Alenia Aermacchi
• MRAS (U.S.)
• Bombardier (Canada)
• Nexcelle (U.S.)
• Boeing (U.S.)
• GKN (U.K.)
• Triumph (U.S.)

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.