Aircraft Nacelle Systems Market Size (2024 - 2029)

The aircraft nacelle systems market is anticipated to experience growth over the forecast period, recovering from a significant decline due to the COVID-19 pandemic. The market size is expected to expand as air passenger traffic returns to pre-pandemic levels, leading to increased aircraft deliveries. The demand for business jets and military aircraft is projected to support market growth, as these sectors were less affected by the pandemic. Additionally, advancements in manufacturing technologies, such as additive manufacturing, are expected to reduce production costs and weight, further driving the market's expansion. The development of new engines for future aircraft programs will also contribute to the increased need for aircraft nacelle systems.

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Market Size of Aircraft Nacelle Systems Industry

Aircraft Nacelle Systems Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 7.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Aircraft Nacelle Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aircraft Nacelle Systems Market Analysis

The Aircraft Nacelle Systems Market was valued at about USD 2.5 billion in 2020, and it is projected to grow to approximately USD 4.4 billion in 2026 with a CAGR of approximately 7.5% during the forecast period (2021-2026).

The aircraft nacelle systems market witnessed a significant decline in 2020 due to the COVID-19 pandemic as the overall aircraft deliveries decreased greatly compared to the previous year. Aircraft OEMs reduced their production rate in 2020 and 2021, which will hamper the aircraft nacelle systems market. However, with the distribution of vaccines around the world, air passenger traffic is expected to return to pre-COVID levels by 2023, which is likely to result in higher aircraft deliveries in the latter half of the forecast period.

Growing demand for business jets and military aircraft will support the growth of the aircraft nacelle systems market during the initial half of the forecast period, as both these sectors have experienced less impact due to the COVID pandemic.

The introduction of advanced technologies like additive manufacturing in the production of nacelle systems and their components are expected to lower the manufacturing cost and decrease the weight of aircraft due to the reduction of smaller parts. Additionally, the development of new engines for future aircraft programs will generate the need for new aircraft nacelle systems.

Aircraft Nacelle Systems Industry Segmentation

Aircraft engine nacelle is an engine housing structure in an aircraft. The market study includes various types of parts and components integrated into the design of aircraft nacelle systems like engine cowling, fan cowl, inlet cowl, thrust reverser, pylon, and exhaust system. The market is segmented on application into commercial aviation, military aviation, and general aviation. By engine type, the market is segmented into turbofan and turboprop. The report also covers the market size and forecasts for the market in major countries across different regions. The market sizing and forecasts have been provided in value (USD billion). The study excludes engine housing equipment onboard rotorcraft.

Application
Commercial Aviation
Military Aviation
Business Jets
Engine Type
Turbofan
Turboprop
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa
Saudi Arabia
United Arab Emirates
Qatar
Rest of Middle East & Africa
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Aircraft Nacelle Systems Market Size Summary

The aircraft nacelle systems market is poised for significant growth in the coming years, driven by the recovery of the aviation industry post-COVID-19. The market experienced a downturn in 2020 due to reduced aircraft deliveries and production rates, but the distribution of vaccines and the anticipated return of air passenger traffic to pre-pandemic levels are expected to boost aircraft deliveries. This resurgence is particularly supported by the growing demand for business jets and military aircraft, which were less affected by the pandemic. The introduction of advanced manufacturing technologies, such as additive manufacturing, is expected to reduce production costs and weight, further propelling market growth. The development of new engines for future aircraft programs will also create demand for new nacelle systems, contributing to the market's expansion.

The commercial aviation segment, which held a significant share of the market, faced challenges due to decreased aircraft deliveries in 2019 and 2020. However, the situation is expected to improve as airlines seek to replace aging fleets with new aircraft, driven by a backlog of orders with major manufacturers like Airbus and Boeing. The Asia-Pacific region is anticipated to experience the highest growth, fueled by substantial aircraft orders from countries like China, India, and Japan. In the military sector, fleet modernization efforts are expected to drive demand for nacelle systems. The market is highly competitive, with major players like Raytheon Technologies, Safran, General Electric, and Spirit AeroSystems leading the industry. These companies are actively partnering with aircraft engine providers and exploring innovations such as electric architecture and 3D printing to enhance their market position.

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Aircraft Nacelle Systems Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD billion)

    1. 2.1 Application

      1. 2.1.1 Commercial Aviation

      2. 2.1.2 Military Aviation

      3. 2.1.3 Business Jets

    2. 2.2 Engine Type

      1. 2.2.1 Turbofan

      2. 2.2.2 Turboprop

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 France

        3. 2.3.2.3 Germany

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Qatar

        4. 2.3.5.4 Rest of Middle East & Africa

Aircraft Nacelle Systems Market Size FAQs

The Aircraft Nacelle Systems Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)

Safran SA, General Electric Company, Raytheon Technologies Corporation, Leonardo S.p.A. and Spirit AeroSystems, Inc. are the major companies operating in the Aircraft Nacelle Systems Market.

Aircraft Nacelle Systems Market Report Snapshots

Aircraft Nacelle Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)