Aircraft Thrust Reverser Market to Witness Steady Growth through 2024
The global aircraft thrust reversers market is expected to reach US$4761.7 million by 2024, growing at a CAGR of 4.80% from 2019 to 2024. The market is driven by increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB; increasing demand for lightweight thrust reversers; increased demand for fuel-efficient aircraft; and advancement in technology of thrust reversers.
What are aircraft thrust reversers?
Aircraft thrust reversers are devices that redirect the thrust of an aircraft engine in the opposite direction to normal, providing deceleration. They are used primarily to slow down aircraft after landing, but can also be used in other situations, such as rejected take-offs or to help slow an aircraft in flight.
Market drivers
The key drivers of the aircraft thrust reversers market are:
- Increasing production rates of key aircraft programs
- Increasing demand for lightweight thrust reversers
- Increased demand for fuel-efficient aircraft
- Advancement in technology of thrust reversers
Regional insights
North America dominated the market in 2018 with a share of more than 45% and is expected to remain the largest market during the forecast period. Asia-Pacific is expected to experience the highest growth during the same period, mainly due to the increasing commercial aircraft fleet to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs, and upcoming commercial and regional aircraft, such as C919 and MRJ.
Research methodology
Stratview Research used a combination of top-down and bottom-up approaches to calculate the market size. The top-down approach involved segmenting the market by product, aircraft type, and region, and then estimating the market size for each segment based on secondary research and expert insights. The bottom-up approach involved identifying the key players in the market and estimating their market shares based on their primary and secondary data.
Conclusion
The global aircraft thrust reversers market is expected to witness significant growth during the forecast period, driven by the increasing production rates of key aircraft programs, increasing demand for lightweight thrust reversers, increased demand for fuel-efficient aircraft, and advancement in technology of thrust reversers. Asia-Pacific is expected to be the fastest-growing market during the forecast period.
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