Market Size of Aircraft Thrust Reverser Actuation Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.72 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Middle East and Africa |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aircraft Thrust Reverser Actuation Systems Market Analysis
The aircraft thrust reverser actuation systems market is anticipated to register a CAGR of 8.72% during the forecast period.
- The COVID-19 pandemic had a negative impact on the aircraft thrust reverser actuation systems market. The onset of the pandemic resulted in the grounding of flights as well as lockdowns being imposed worldwide to curb the spread of the virus. The imposition of the lockdown created a global disruption both in terms of supply and demand. However, post the removal of lockdown restrictions, air travel demand has surged, encouraging airlines to undertake fleet expansion and modernization initiatives.
- Though there are still some supply chain bottlenecks that affect the aircraft thrust reverser actuation systems market, the market is expected to grow in tandem with the OEM and aftermarket demand for such systems. Furthermore, the emerging emission regulation landscape is also anticipated to drive investments in electronic thrust actuation systems. Currently, the target, clam-shell, and cold stream systems are the three most prevalent types of thrust reversal systems that are used in jet engines.
- The growing adoption of additive manufacturing technologies is also anticipated to have a profound effect on the market as it lowers the overall production and maintenance costs of critical components of aircraft thrust actuation systems.
Aircraft Thrust Reverser Actuation Systems Industry Segmentation
A thrust reverser is contained within the nacelle system and is used to enable rapid deacceleration while landing by reversing the inflow direction of the engine fan to create additional drag. A thrust reverser is deployed to reduce the wear on brakes and facilitate safe landing on short airstrips. The scope of the study encompasses all the commercial, military, and business aircraft models that integrate a thrust reverser system as a precautionary safety measure to facilitate shorter landing distances.
The aircraft thrust reverser actuation systems market has been segmented by platform, mechanism, and geography. By platform, the market is segmented into commercial aircraft, military aircraft, and business jets, by mechanism into hydraulic and electric, and by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report offers market size and forecast in terms of value (USD million) for all the above segments.
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| Commercial Aircraft | |
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| Business Jets |
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| Hydraulic | |
| Electric |
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Aircraft Thrust Reverser Actuation Systems Market Size Summary
The aircraft thrust reverser actuation systems market is poised for significant growth, driven by a resurgence in air travel demand following the COVID-19 pandemic. The pandemic initially disrupted the market due to flight groundings and global lockdowns, but the subsequent removal of restrictions has spurred airlines to expand and modernize their fleets. This growth is further supported by the increasing adoption of electronic thrust actuation systems in response to emerging emission regulations. The market is also benefiting from advancements in additive manufacturing technologies, which are reducing production and maintenance costs. The demand for thrust reverser systems is expected to rise in tandem with both original equipment manufacturer (OEM) and aftermarket needs, despite some ongoing supply chain challenges.
In the business aviation sector, the rise in high-net-worth individuals and the popularity of fractional ownership programs and air charter services have fueled demand for business jets. This trend is attracting new market entrants and encouraging airlines to expand their charter operations. Prominent business jets, such as those from Gulfstream and Bombardier, are equipped with advanced thrust reverser actuation systems, highlighting the market's growth potential. Additionally, the Asia-Pacific region, particularly China and India, is experiencing robust growth in air passenger traffic, prompting airlines to place new aircraft orders. This regional expansion, coupled with supportive economic conditions and government initiatives, is expected to drive the market forward, with key players like Triumph Group and Woodward Inc. expanding their manufacturing capabilities to meet the increasing demand.
Aircraft Thrust Reverser Actuation Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Platform
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2.1.1 Commercial Aircraft
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2.1.2 Military Aircraft
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2.1.3 Business Jets
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2.2 Mechanism
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2.2.1 Hydraulic
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2.2.2 Electric
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Germany
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Mexico
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2.3.4.2 Brazil
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2.3.4.3 Rest of Latin America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 United Arab Emirates
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2.3.5.3 Egypt
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2.3.5.4 Rest of Middle East and Africa
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Aircraft Thrust Reverser Actuation Systems Market Size FAQs
What is the current Aircraft Thrust Reverser Actuation Systems Market size?
The Aircraft Thrust Reverser Actuation Systems Market is projected to register a CAGR of 8.72% during the forecast period (2024-2029)
Who are the key players in Aircraft Thrust Reverser Actuation Systems Market?
Triumph Group, Woodward Inc, Parker Hannifin Corporation, Arkwin Industries inc and Singapore Technologies Engineering Ltd are the major companies operating in the Aircraft Thrust Reverser Actuation Systems Market.
