Global Commercial Aircraft Propeller Systems Market 2016-2020

Outlook of the global commercial aircraft propeller systems market

Technavio’s market research analyst predicts the global commercial aircraft propeller systems market to grow at a CAGR of approximately 4% by 2020. Operators in the aviation industry are continuously striving to reduce their operating costs and increase their profit margins. Consequently, many vendors in the aviation industry are engaging in the development of new engines that will help to increase the operational and fuel efficiency of an aircraft. This will lead to the development of advanced propellers, which in turn will foster the prospects for market growth until the end of 2020.

Factors such as the global economic recovery and the advent of improved aviation policies will lead to an increase in the number of air travelers during the forecast period. In 2014, approximately 21,600 aircraft were operational on a global scale, and the number is expected to grow at a CAGR of 4% annually by 2034. Also, with the advent of new technologies, vendors have had the opportunity to develop turboprop engines for the general aviation sector. For instance, GE Aviation, one of the major engine manufacturers, is expecting to observe $1 billion annual sales of such engines by 2020. The augmented sale of such engines will contribute towards the growth of this market over the next few years.

Geographical segmentation of the commercial aircraft propeller systems market

• Americas
• APAC
• EMEA