PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326518
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326518
Global Aircraft Propulsion System Market is valued at approximately USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xxx over the forecast period 2023-2030. A propulsion system is a machine utilized for aircraft movement and flight assistance. It comprises an engine, a propeller, and additional components. The engine generates propeller motion, producing thrust to propel the aircraft forward. The growth of the global aircraft propulsion system market is primarily fueled by the rising utilization of aircraft and helicopters. Additionally, the market expansion is driven by the advancement of unmanned aerial vehicles designed for combat missions.
Moreover, the growing airline industry plays a significant role in supporting the growth of the Aircraft Propulsion System Market. As the airline industry expands, there is a higher demand for aircraft to accommodate more passengers and reach new destinations. This increased demand directly translates into a greater need for aircraft propulsion systems. According to Statista, in 2020 the global airline industry was valued USD 391.22 billion, and the industry increased significantly and reached USD 785.64 billion in 2022. Additionally, advancements in electro-thermal propulsion systems and radio frequency (RF) ion thrusters are anticipated to create a lucrative opportunity for the market. However, the rise in crude oil prices stifled market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Aircraft Propulsion System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the presence of key market players, growing commercial aviation sector, and growing number of space crafts, missiles and UAVs in the region. Asia Pacific is expected to grow at fastest growth rate during the forecast period, owing to growing air travel, rising defense expenditure, fleet modernization and supportive government initiatives.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable