Dublin, June 02, 2021 (GLOBE NEWSWIRE) -- The "Nacelle Actuation System Market Size, Share & Analysis, By Platform (Commercial Aircraft, Military Aircraft, Business Jets), By Mechanism (Hydraulic, Electric), By End Use (OEM, Maintenance Repair Overhaul), By Region, Global Forecast To 2028" report has been added to ResearchAndMarkets.com's offering.
The global nacelle actuation system market size is expected to reach USD 1,161.4 Million in 2028, and register a CAGR of 5.9% during the forecast period.
Rising number of new airlines being added to the fleet, and growing need for repairing old fleet are key factors driving market revenue growth.
Increasing expenditure on development of technologically advanced nacelle actuation systems such as Electrical Thrust Reverser Actuation System (ETRAS), and implementation of additive manufacturing and 3D printing to manufacture these systems.
Development of new-generation aircraft engines and components, coupled with growing demand for noise-reducing and fuel-efficient actuation systems are major factors expected to boost market growth.
In addition, stringent safety regulations imposed by governments across the globe and growing adoption of nacelle actuation systems owing to its requirement for process of deceleration are other major factors supporting growth of the global nacelle actuation system market.
Revenue growth of the global nacelle actuation system market is directly proportional to growth of the global airline industry and increasing number of aircrafts. Thus, increasing fleet expansion projects, rising trend of air travel, and need for advanced aircrafts for better safety and travel experience of travelers are factors expected to drive market growth.
High cost and complex process of repairing /remolding aircraft nacelles could hamper adoption of nacelle actuation systems and restrain market growth.
Some Key Findings From the Report:
Among the platform segments, the commercial aircraft segment accounted for the largest revenue share in 2020, and is expected to continue contributing major revenue share during the forecast period.
Among the mechanism segments, the hydraulic segment accounted for major revenue share in 2020. The electric segment is expected to register a robust revenue CAGR during the forecast period.
Among the end-use segments, the Original Equipment Manufacturer (OEM) segment accounted for the largest revenue share in 2020, owing to increasing investments and emphasis on manufacturing military and commercial aircrafts, and business jets, using technologically advanced nacelle actuation systems.
The North America market accounted for the largest revenue share in 2020, due to increasing rising expenditure on manufacturing advanced commercials and jets and increasing aircraft upgrade projects.
Europe market accounted for second-largest revenue share in 2020, due to mature aviation sector, and high investments to increase fleet size due to increasing trend of air travel.
The Asia Pacific market is expected to register a robust revenue CAGR during the forecast period, increasing investments by aviation sector to increase airline fleet size.
Market Indicators Analysis
Market Drivers Analysis
Increased number of aircrafts
Rise in the demand for fuel-efficient and noise-reducing nacelles
Market Restraints Analysis
Difficulty in repairing or remolding aircraft nacelles
Market Opportunities Analysis
Porter's Five Forces Analysis
PESTEL Analysis of Nacelle Actuation Systems market
Scope of the Report
Original Equipment Manufacturer
Maintenance Repair Overhaul
Woodward Inc. (U.S.)
Arkwin Industries (U.S.)
Honeywell International (U.S.)
Collins Aerospace (U.S.)
Triumph Group (U.S.)
Parker Hannifin Co. (U.S.)
For more information about this report visit https://www.researchandmarkets.com/r/s0ud98
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