Ceramic Matrix Composites (CMCs) Market in Aircraft Engines is Forecasted to Reach US$ 421.1 million in 2028, Says Stratview Research
The global ceramic matrix composites (CMCs) market in aircraft engines is projected to witness a growth rate of 14.4% annually from 2023 to 2028, with an anticipated size of US$ 421.1 million by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global ceramic matrix composites (CMCs) market in aircraft engines which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/268/ceramic-matrix-composites-market-in-aircraft-engines.html#form
Report Highlights:
Market Size in 2028: US$ 421.1 million
Growth (CAGR): 14.4% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 8
Number of Tables & Graphs: 100+
Segment Insights on the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines:
The global ceramic matrix composites (CMCs) market in aircraft engines is segmented based on aircraft type, component type, engine type, application type, engine-zone type, material type, process type, and region.
Based on aircraft type - The market is segmented based on the aircraft type into commercial aircraft, business jets, military aircraft, and helicopters. Commercial aircraft accounted for a market share of more than 45% in 2022 & is forecasted to remain the largest segment of the market during the forecast period.
The development of CMC parts in the variants of the best-selling aircraft programs, such as the B737 Max and A320neo, is the key growth driver of the market. Additionally, the upcoming variant B777x with five CMC applications in its GE9X engine is likely to further elevate the demand for CMC parts in this segment. On the other hand, the helicopter segment is estimated to grow at a healthy CAGR of almost 20% during the forecast period.
Based on the application type - The market is segmented into shrouds, combustor liners, blades, nozzles, and others. Shrouds occupied a market share of more than 25% in 2022 & are projected to remain the largest application type during the forecast period, driven by their usage in the Leap engines. Leap engine is certified for the B737 Max, A320neo, and C919 aircraft. CFM International, a JV between GE Aviation and Safran Aircraft Engines, delivered 1,736 Leap engines in 2019 and has an order backlog of 15,614 engines as of December 2019.
Furthermore, the development of CMC shrouds in upcoming aircraft engines, such as GE9x, would further accelerate the demand during the forecast period. Whereas, Combustor Liner is estimated to grow at a CAGR of almost 25% during the forecast period. All the major applications including combustor liners, shrouds, blades, and nozzles, are projected to witness healthy growth rates during the forecast period.
Based on the engine-zone type - The CMCs market in aircraft engines is segmented as high-pressure zone, low-pressure zone, and engine combustor. The high-pressure zone dominated the market with a share of more than 70% in 2022 and would remain the hotspot during the forecast period.
CMCs are ideal materials as they offer a broad spectrum of advantages at high-pressure zones including a reliable performance at extreme temperatures up to 1,300°C, a significant weight saving compared with nearest rival nickel alloys, and no need for air cooling. This improves the engine thrust and reduces fuel consumption and emits less pollution. All three zones are likely to witness impressive growth rates in the coming five years.
Based on the component type - The market is segmented into static and rotational. Static is expected to remain the dominant and fastest-growing component type in the market during the forecast period. Commercial CMC developments, such as shrouds for the LEAP engine; exhaust nozzles for the F135; and combustor liners, shrouds, and nozzles for the GE9x engine, are static components.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/268/ceramic-matrix-composites-market-in-aircraft-engines.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America dominated the market with a share of more than 85% in 2022 & is projected to comfortably maintain its lead in the ceramic matrix composites market in aircraft engines during 2023-2028. This growth outlook is majorly attributed to the following-
- The key CMC players in the region have worked along with government institutions to make sure the commercial viability of CMCs in aircraft engines.
- The region also owns the presence of major CMC parts manufacturers such as GE Aviation and Pratt & Whitney.
- The key players are rolling out their dedicated CMC plants in North America to address the surging demand for CMCs.
- In 2019, Pratt & Whitney, a US-based aircraft engine manufacturer, announced its plans to open a new ceramic matrix composites research and development facility in California. In March 2018, GE Aviation announced the expansion of the CMC production facility in Asheville, NC, USA.
- Asia-Pacific is projected to portray the highest growth during the same period, driven by the upcoming indigenous aircraft by China (C919) coupled with the increasing defense budgets of emerging Asian economies.
Ceramic Matrix Composites (CMCs) Market in Aircraft Engines Drivers:
Some of the key drivers listed in the report are given below.
- After a decline in 2020, the global economy experienced impressive growth in post-pandemic developments.
- The growing population is again positively impacting the demand for air travel, which, in turn, is affecting the demand for flight control systems.
- In the long run, the air RPKs will be over 19 trillion, imprinting a positive impact across the supply chain.
- Political influences & legislative forces are impacting regional market dynamics.
- Increasing load factor has a considerable impact on the entire aerospace industry supply chain.
- Rising aerospace co2 emissions are again compelling airlines to retire their aging aircraft and introduce fuel-efficient aircraft in their fleets.
- Rising air freight tons again create a greater demand for aircraft.
Top Companies in the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• GE Aviation
• Pratt & Whitney
• Composites Horizons LLC
• Safran Ceramics (previously Herakles)
• COI Ceramics, Inc.
• Rolls-Royce plc
• Honeywell International Inc
• IHI Corporation
• Kordsa Teknik Tekstil A.S.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Aeroengine Composites Market: https://www.stratviewresearch.com/485/aeroengine-composites-market.html
• Aeroengine Fan Blades Market: https://www.stratviewresearch.com/348/Aeroengine-Fan-Blades-Market.html
400 Renaissance Center, Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Website: www.stratviewresearch.com
Mail Us: sales@stratviewresearch.com
Press: media@stratviewresearch.com
Call Us: +13133074176
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
Stratview Research, a global market research firm has launched a report on the global ceramic matrix composites (CMCs) market in aircraft engines which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/268/ceramic-matrix-composites-market-in-aircraft-engines.html#form
Report Highlights:
Market Size in 2028: US$ 421.1 million
Growth (CAGR): 14.4% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 8
Number of Tables & Graphs: 100+
Segment Insights on the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines:
The global ceramic matrix composites (CMCs) market in aircraft engines is segmented based on aircraft type, component type, engine type, application type, engine-zone type, material type, process type, and region.
Based on aircraft type - The market is segmented based on the aircraft type into commercial aircraft, business jets, military aircraft, and helicopters. Commercial aircraft accounted for a market share of more than 45% in 2022 & is forecasted to remain the largest segment of the market during the forecast period.
The development of CMC parts in the variants of the best-selling aircraft programs, such as the B737 Max and A320neo, is the key growth driver of the market. Additionally, the upcoming variant B777x with five CMC applications in its GE9X engine is likely to further elevate the demand for CMC parts in this segment. On the other hand, the helicopter segment is estimated to grow at a healthy CAGR of almost 20% during the forecast period.
Based on the application type - The market is segmented into shrouds, combustor liners, blades, nozzles, and others. Shrouds occupied a market share of more than 25% in 2022 & are projected to remain the largest application type during the forecast period, driven by their usage in the Leap engines. Leap engine is certified for the B737 Max, A320neo, and C919 aircraft. CFM International, a JV between GE Aviation and Safran Aircraft Engines, delivered 1,736 Leap engines in 2019 and has an order backlog of 15,614 engines as of December 2019.
Furthermore, the development of CMC shrouds in upcoming aircraft engines, such as GE9x, would further accelerate the demand during the forecast period. Whereas, Combustor Liner is estimated to grow at a CAGR of almost 25% during the forecast period. All the major applications including combustor liners, shrouds, blades, and nozzles, are projected to witness healthy growth rates during the forecast period.
Based on the engine-zone type - The CMCs market in aircraft engines is segmented as high-pressure zone, low-pressure zone, and engine combustor. The high-pressure zone dominated the market with a share of more than 70% in 2022 and would remain the hotspot during the forecast period.
CMCs are ideal materials as they offer a broad spectrum of advantages at high-pressure zones including a reliable performance at extreme temperatures up to 1,300°C, a significant weight saving compared with nearest rival nickel alloys, and no need for air cooling. This improves the engine thrust and reduces fuel consumption and emits less pollution. All three zones are likely to witness impressive growth rates in the coming five years.
Based on the component type - The market is segmented into static and rotational. Static is expected to remain the dominant and fastest-growing component type in the market during the forecast period. Commercial CMC developments, such as shrouds for the LEAP engine; exhaust nozzles for the F135; and combustor liners, shrouds, and nozzles for the GE9x engine, are static components.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/268/ceramic-matrix-composites-market-in-aircraft-engines.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America dominated the market with a share of more than 85% in 2022 & is projected to comfortably maintain its lead in the ceramic matrix composites market in aircraft engines during 2023-2028. This growth outlook is majorly attributed to the following-
- The key CMC players in the region have worked along with government institutions to make sure the commercial viability of CMCs in aircraft engines.
- The region also owns the presence of major CMC parts manufacturers such as GE Aviation and Pratt & Whitney.
- The key players are rolling out their dedicated CMC plants in North America to address the surging demand for CMCs.
- In 2019, Pratt & Whitney, a US-based aircraft engine manufacturer, announced its plans to open a new ceramic matrix composites research and development facility in California. In March 2018, GE Aviation announced the expansion of the CMC production facility in Asheville, NC, USA.
- Asia-Pacific is projected to portray the highest growth during the same period, driven by the upcoming indigenous aircraft by China (C919) coupled with the increasing defense budgets of emerging Asian economies.
Ceramic Matrix Composites (CMCs) Market in Aircraft Engines Drivers:
Some of the key drivers listed in the report are given below.
- After a decline in 2020, the global economy experienced impressive growth in post-pandemic developments.
- The growing population is again positively impacting the demand for air travel, which, in turn, is affecting the demand for flight control systems.
- In the long run, the air RPKs will be over 19 trillion, imprinting a positive impact across the supply chain.
- Political influences & legislative forces are impacting regional market dynamics.
- Increasing load factor has a considerable impact on the entire aerospace industry supply chain.
- Rising aerospace co2 emissions are again compelling airlines to retire their aging aircraft and introduce fuel-efficient aircraft in their fleets.
- Rising air freight tons again create a greater demand for aircraft.
Top Companies in the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• GE Aviation
• Pratt & Whitney
• Composites Horizons LLC
• Safran Ceramics (previously Herakles)
• COI Ceramics, Inc.
• Rolls-Royce plc
• Honeywell International Inc
• IHI Corporation
• Kordsa Teknik Tekstil A.S.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Ceramic Matrix Composites (CMCs) Market in Aircraft Engines, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Aeroengine Composites Market: https://www.stratviewresearch.com/485/aeroengine-composites-market.html
• Aeroengine Fan Blades Market: https://www.stratviewresearch.com/348/Aeroengine-Fan-Blades-Market.html
400 Renaissance Center, Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Website: www.stratviewresearch.com
Mail Us: sales@stratviewresearch.com
Press: media@stratviewresearch.com
Call Us: +13133074176
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
