PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1363785
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1363785
According to SPER Market Research, 'Aircraft Propulsion System Market Size- By Type, By Application, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the lAircraft Propulsion System Market is predicted to reach USD 803.19 billion by 2033 with a CAGR of 6.89%.
A propulsion system is a mechanism that propels and aids an airplane while it is in flight. It is made up of an engine, a propeller, and several smaller parts. The engine moves the propeller and produces thrust to propel the airplane forward. For the airplane to accelerate, the push must be greater than the drag. The acceleration increases as the drag-push difference develops. Such systems are used by spacecraft, missiles, helicopters, and aircraft.
Aircraft propulsion system sales were significantly impacted by the COVID-19 Pandemic. Restrictions on travel, a decline in passenger demand, and the grounding of aircraft fleets all contributed to a significant downturn in the aviation sector. Orders for new aircraft have fallen as a result, and the market for propulsion systems has plateaued. However, when the economy gradually improves and air travel begins, the market is anticipated to rebound.