Please Wait.....
Report
Aircraft Propeller Systems - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 110 Pages I Mordor Intelligence
The Aircraft Propeller Systems Market is valued at USD 378.280 million in 2024 and is anticipated to reach USD 529.22 million by 2029, registering a CAGR of 6.95% during the forecast period (2024-2029).
The ongoing R&D of next-generation turboprop aircraft, the stable growth in the sales of the different types of aircraft, and the increasing demand for unmanned aerial vehicles (UAVs) are expected to propel the growth of the aircraft propeller systems market. Increased focus on reducng vibration and interior noise acts as a driver for the market. Advancements in aircraft propeller systems technology also play a crucial role in enhancing aircraft performance, further propelling market growth. Moreover, growth in aircraft sales and production, especially from the commercial segment, is generating demand for exhaust systems for aircraft.
R&D on new propeller designs, such as a team in MIT Lincoln Lab's Structural and Thermal-Fluids Engineering Group working on new annular shape toroidal propellers, which are radically quieter (noise range 1-5 kHz) than traditional propellers. Similarly, Hartzell tested its new five-blade swept airfoiled carbon fiber propeller on a flight of a Hydrogen-Powered Airliner. It is part of a project with Universal Hydrogen where Hartzell Propeller is working and supporting advanced air mobility manufacturers. Such initiatives from various companies contribute to the growth of the market.
Aircraft OEMs and part manufacturers face several challenges involving additional costs that are incurred while complying with cumbersome certification processes. It poses a challenge for the mass-scale production of aircraft parts and components. Thus, the stringent certification process acts as a barrier to new entrants with the potential to enter the aircraft propeller systems market. The advent of innovative manufacturing technologies such as additive manufacturing and the increasing use of digital propeller vibration monitoring systems are anticipated to significantly impact the market prospects in the future.
Aircraft Propeller System Market Trends
The Original Equipment Manufacturer (OEM) Segment to Dominate the Market
As the aviation industry continues to grow, the orders for new turboprop and piston engine aircraft may simultaneously generate demand for the parts of the aircraft, like propellers. The demand generated by the aircraft OEMs is now high, which increased the revenues from the OEM segment. For instance, in May 2022, the US Army, in its modernization plan for aviation platforms, selected Bell Textron's V-280 Valor Tiltrotor to replace the UH-60 Black Hawk. The army awarded a USD 1.3 billion contract to Bell Textron for a V-280 Valor Tiltrotor helicopter. As per the contract, the army will fund USD 232 million for Bell's preliminary design and development of a virtual prototype.
Similarly, in August 2023, Statkraft Ventures invested in Electra. Aero, Inc., a US-based firm, to develop its full-scale pre-production prototype electric short takeoff and landing (eSTOL) aircraft. Electra's eSTOL aircraft include eight electric propellers mounted under the fixed wings. As per the plan, the company is to test its prototype by 2025. Electra received 1,200 preorders for the eSTOL aircraft.
Asia-Pacific is Projected to become the Fastest Growing Market During the Forecast Period
Though North America dominates market share in 2022, Asia-Pacific is expected to show remarkable growth during the forecast period. China emerged as a global leader in terms of UAV development. The development of new UAVs in China is anticipated to generate a huge demand for propeller systems during the forecast period. The increasing demand for turboprop aircraft from commercial and military sectors is a major driver for the propeller systems market in India. Even in Japan, Australia, and other countries in the region, the procurement of turboprop aircraft is increasing, thereby contributing to the growth of the regional market. For instance, in March 2023, the Indian Ministry of Defence signed a contract with Hindustan Aeronautics Limited (HAL) for the purchase of six Dornier-228 aircraft for the Indian Air Force (IAF). The six current aircraft will be modified with a more fuel-efficient engine and a composite propeller with five blades.
Similarly, in June 2023, the Indian Ministry of Defence approved the acquisition of 31 MQ-98 drones from General Dynamics at USD 3.5 billion. According to this agreement, the Indian Navy would receive 15 Sea Guardians, and the Indian Army and Indian Air Force would each receive 8 SkyGuardians. The SkyGuardian drone includes a wingspread of 24.07 m, carries a payload of 2,155 kg, and is capable of maritime surveillance, over-the-horizon targeting, anti-submarine warfare, airborne early warning, and electronic warfare.
Aircraft Propeller System Industry Overview
The major players in the aircraft propeller systems market include Hartzell Propeller Inc., General Electric Company, RTX Corporation, Textron Aviation Inc., and Airmaster Propellers, with each having access to the key geographical regions. For players to sustain themselves in the market studied, it is very critical to establish themselves with a client and cater to their custom requirements with superior quality, performance, and the lowest possible price. The demand for aircraft propellers in the coming years is expected to be from Asia, Russia, and the Middle East. First, entry may be beneficial to any entrant in the market studied. For instance, in June 2021, Piedmont Propulsion Systems was awarded a contract by the Mexican airline Transportes Aeromar to support its fleet of ATR 42 and 72 aircraft. Piedmont Propulsion Systems conducted comprehensive propeller repair for the aircraft as part of the multi-year arrangement.
The market may also witness inorganic growth due to prominent players trying to retain market share. On this note, in July 2021, Hartzell Propeller acquired the assets of Tanis Aircraft Products, a Minnesota-based manufacturer of engine preheat systems for fixed and rotary-wing aircraft. The Tanis brand will now be a part of Hartzell Propeller's heated product line. It also includes systems for battery, avionics, cabin, and propeller de-icing, as well as systems for piston, turbine, and helicopter engines.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 End-user
5.1.1 Original Equipment Manufacturer (OEM)
5.1.2 Aftermarket
5.2 Application
5.2.1 Commercial Aircraft
5.2.2 Military Aircraft
5.2.3 General Aviation
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 France
5.3.2.3 Germany
5.3.2.4 Italy
5.3.2.5 Russia
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Mexico
5.3.4.3 Rest of Latin America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 Turkey
5.3.5.4 South Africa
5.3.5.5 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 RTX Corporation
6.2.2 General Electric Company
6.2.3 Textron Aviation Inc.
6.2.4 Airmaster Propellers
6.2.5 MT-Propeller Entwicklung GmbH
6.2.6 Hartzell Propeller Inc.
6.2.7 GSC Systems Ltd.
6.2.8 Jabiru Aircraft Pty Ltd.
6.2.9 Aerosila Research and Production Enterprise OJSC
6.2.10 Whirl Wind Propellers Corporation
6.2.11 Sensenich Wood Propeller Co.
6.2.12 Hercules Propellers Ltd.
6.2.13 FP-propeller Srl
6.2.14 DUC Helices Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security