Market Size of Aircraft Nacelle Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Nacelle Systems Market Analysis
The Aircraft Nacelle Systems Market was valued at about USD 2.5 billion in 2020, and it is projected to grow to approximately USD 4.4 billion in 2026 with a CAGR of approximately 7.5% during the forecast period (2021-2026).
The aircraft nacelle systems market witnessed a significant decline in 2020 due to the COVID-19 pandemic as the overall aircraft deliveries decreased greatly compared to the previous year. Aircraft OEMs reduced their production rate in 2020 and 2021, which will hamper the aircraft nacelle systems market. However, with the distribution of vaccines around the world, air passenger traffic is expected to return to pre-COVID levels by 2023, which is likely to result in higher aircraft deliveries in the latter half of the forecast period.
Growing demand for business jets and military aircraft will support the growth of the aircraft nacelle systems market during the initial half of the forecast period, as both these sectors have experienced less impact due to the COVID pandemic.
The introduction of advanced technologies like additive manufacturing in the production of nacelle systems and their components are expected to lower the manufacturing cost and decrease the weight of aircraft due to the reduction of smaller parts. Additionally, the development of new engines for future aircraft programs will generate the need for new aircraft nacelle systems.
