Aircraft Propeller System Market worth $414 million by 2026 at a CAGR of 6.1% - PowerPoint PPT Presentation

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Aircraft Propeller System Market worth $414 million by 2026 at a CAGR of 6.1%

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The Aircraft Propeller System market size is forecasted to grow from an estimated USD 308 million in 2021 to reach USD 414 million by 2026, at a CAGR of 6.1% from 2021 to 2026. – PowerPoint PPT presentation

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Title: Aircraft Propeller System Market worth $414 million by 2026 at a CAGR of 6.1%


1
Aircraft Propeller System Market worth 414
million by 2026 at a CAGR of 6.1 The Global
Aircraft Propeller System Market is
forecasted to grow from USD 308million in
2021 to reach USD 414million by 2026, at a CAGR
of 6.1 during the forecast period. The growth of
this market can be attributed to the increasing
demand for lightweight and fuel-efficient
aircraft from the Middle East, Asia Pacific, and
Africa. The increasing adoption of unmanned
aerial vehicles in the military sector is further
expected to drive the demand for aircraft
propeller systems, especially from emerging
economies such as India and China. However, high
costs associated with the RD of new technologies
and the formulation of stringent norms to
regulate the production and development of
aircraft propeller systems inhibit the market
growth across the globe. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id242092633 Based on region, the aircraft
propeller system market has been segmented into
North America, Europe, Asia Pacific, and the Rest
of the World (RoW). The growth of this market is
mainly driven by the increased demand for
advanced and lightweight aircraft propeller
systems with enhanced lifespan, increased
reliability, and varied functionalities. The
North American region is estimated to be the
largest market for aircraft propeller systems in
2021. The Asia Pacific aircraft propeller system
market is expected to witness considerable growth
during the forecast period, owing to the
increasing demand for fuel-efficient aircraft
using turboprop engines. Key Market
Players Hartzell Propeller (US), MT-Propeller
(Germany), Dowty Propellers (UK), McCauley
Propeller (US), Airmaster Propellers (New
Zealand), FP Propeller (Italy), and Ratier-
Figeac (France) are the key manufacturers of
aircraft propeller systems. Based on end use, the
aircraft propeller system market has been
segmented into OEM (Original Equipment
Manufacturer) and aftermarket. The OEM segment is
estimated to account for a share of 51.9 of the
aircraft propeller system market, by end use, in
2021. The development of next-generation aircraft
propeller systems is one of the most significant
factors driving the growth of the aircraft
propeller system market across the globe.
Increased automation of flight operations,
technological advancements in the aviation
industry, and its expansion across the globe are
additional factors expected to fuel the growth of
the aircraft propeller system market during the
forecast period. Based on type, the variable
pitch segment is projected to register a higher
CAGR (6.4) than the fixed pitch segment during
the forecast period. The growth of this segment
can be attributed to continuous advancements in
manufacturing technologies
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of propellers, resulting in the development of
full feathering pitch propellers. A highly
sophisticated variant of the varying pitch
propellers is the constant speed propeller, which
is used by different types of aircrafts. Ask for
Sample Report _at_ https//www.marketsandmarkets.com/
requestsampleNew.asp?id242092633
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