Market Trends of Commercial Aircraft FADEC Industry
The Turbofan Segment to Experience the Highest Growth During the Forecast Period
- Currently, the turbofan segment of the market accounts for the highest share, and it is expected to record the highest CAGR during the forecast period. This is mainly due to the increasing turbofan aircraft procurements by airlines, as they offer high efficiencies over long distances at high speeds.
- Turbofan engines are widely used in modern commercial aircraft due to their fuel efficiency and low noise levels. As airlines prioritize fuel savings and environmental sustainability, there will be greater demand for advanced FADEC systems to optimize turbofan engine performance. The increasing air travel, along with the need for fuel-efficient aircraft by airlines, is also expected to drive down the demand for this segment during the forecast period.
- For instance, in February 2022, Airbus and CFM International, a 50/50 joint venture between GE and Safran Aircraft Engines, signed a collaboration agreement to work together on a hydrogen demonstration program that will launch in the middle of this decade. The program's goal is to test a hydrogen-fueled direct-combustion engine in the air and on the ground in order to have a zero-emission aircraft in service by 2035. A380 flying testbed equipped with liquid hydrogen tanks that were made at Airbus sites in France and Germany will be used for the demonstration. Additionally, Airbus will specify the specifications for the hydrogen propulsion system, manage flight testing, and supply the A380 as a platform for the hydrogen combustion engine test throughout the cruise phase.
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Asia-Pacific is Expected to Experience the Highest Growth During the Forecast Period
- Asia-Pacific is anticipated to record the highest growth during the forecast period. The growth in the commercial aircraft FADEC market in this region is propelled by the fast-growing aviation industry in China and India. The growth can be attributed to other factors, such as the region's robust economic expansion, increasing air travel demand, rising disposable incomes, the ongoing development and modernization of airports, and the procurement of new aircraft by airlines.
- Additionally, countries like Indonesia, South Korea, Singapore, Thailand, Malaysia, Australia, and Vietnam, are propelling this growth due to the ongoing investments in the aviation industry by public and private companies and the growth of tourism in this region. Moreover, the ever-growing commercial aviation is propelling the growth of the market in this region. For instance, according to Airbus, the Asia-Pacific area will need 17,620 new passenger and freighter aircraft over the next 20 years due to a 5.3% annual growth in passenger traffic and the faster retirement of older, less fuel-efficient aircraft. These will replace older, less fuel-efficient cars by about 30%. China, India, and rising economies like Vietnam and Indonesia will be the main drivers of growth in the Asia-Pacific region, which is home to 55% of the world's population. By 2040, GDP will have doubled in size, growing at a rate of 3.6% annually compared to the 2.5% global average. The middle class, which is more likely to travel, will grow by 1.1 billion to 3.2 billion, and the likelihood that people will travel is predicted to nearly double. Similarly, in May 2023, Air India placed orders for 70 widebody aircraft, including 20 787 Dreamliners and 10 777Xs from Boeing, as well as 34 A350-1000s and six A350-900s from Airbus. Additionally, it has 190 Boeing 737 MAX narrowbody aircraft, 140 Airbus A320neo, 70 Airbus A321neo, and 70 Airbus A321neo. Boeing announced in a separate statement that the airline has also secured options to purchase an additional 70 aircraft from the US aircraft manufacturer, including 50 737 MAXs and 20 787 Dreamliners, making this Boeing's largest order in South Asia.
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