Aircraft Propeller Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Aircraft Propeller Systems Market is segmented by End-user (Original Equipment Manufacturer (OEM), Aftermarket), Application (Commercial, Military, General Aviation), and Geography.

Market Snapshot

Aircraft Propeller Systems Market - Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The aircraft propeller systems market is projected to register a CAGR of over 4% during the forecast period.

  • The major trends in the aircraft propeller systems market include the advent of 3D printing technology in aviation and the advent of digital propeller vibration trend monitoring systems.
  • The introduction of new turboprop aircraft and the growing demand for replacing the existing turboprop aircraft, coupled with the increasing demand for unmanned aerial vehicles, are expected to propel the growth of the aircraft propeller systems market.
  • Aircraft OEMs and part manufacturers face several challenges involving additional costs that incur while complying with cumbersome certification processes. This poses a challenge for the mass-scale production of aircraft parts and components. Thus, the stringent certification process acts as a barrier to the new entrants, who have the potential to enter the aircraft propeller systems market.

Scope of the Report

The propeller system consists of hubs, propellers, gearbox, and governor. The scope of the report covers amphibious aircraft, tanker aircraft, UAVs, turboprop aircraft, power glider aircraft, piston engine aircraft, and freighter aircraft.
Application
Commercial Aircraft
Military Aircraft
General Aviation
End-user
Original Equipment Manufacturer (OEM)
Aftermarket
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle-East and Africa

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Key Market Trends

The Original Equipment Manufacturer (OEM) Segment to Dominate the Market in the Years to Come

As the aviation industry continues to grow, the orders for new turboprop and piston engine aircraft may simultaneously generate demand for the parts of the aircraft, like propellers. The demand generated by the aircraft OEMs is now high, which increased the revenues from the OEM segment in 2018. However, as the propellers are subjected to wear, fatigue, corrosion, and erosion, they need to be maintained, repaired, and overhauled at regular intervals, to extend their lifespan. Additionally, many militaries around the world are planning to upgrade their aircraft fleet. As a part of this, upgrades are being done for their turboprop aircraft. Thus, even though the revenues from the segment are low, the aftermarket services for the existing aircraft are expected to boost the growth of the aftermarket segment, during the forecast period.
Aircraft Propeller Systems_segment

Asia-Pacific to be the Fastest Growing Market During the Forecast Period

As of 2019, the North America region is the global market leader, owing to the rise in aircraft procurements in the region. Moreover, the presence of major propeller systems manufacturers in North America has led to the region having the largest market share in the global market. However, Asia-Pacific is expected to be the fastest-growing region in the market in the future. China has emerged as a global leader, in terms of UAV development, as the country is continuing to advance, in terms of UAV technologies. This development of new UAVs in China may generate a huge demand for propeller systems during the forecast period. The increasing demand for turboprop aircraft from commercial and military sectors is a major driver for the propeller systems market in India. Even in Japan, Australia, and the other countries in the region, the procurements of turboprop aircraft are increasing, thereby contributing to the growth of the region's market. 
Aircraft Propeller Systems_geography

Competitive Landscape

The major players in the aircraft propeller systems market include Hartzell Propeller Inc., United Technologies Corporation, Dowty Propellers (General Electric), Aerosila, and MT-Propeller, with each having access to the key geographical regions. For players to sustain themselves in the market studied, it is very critical to establish themselves with a client and cater to their custom requirements with superior quality, performance, and the lowest possible price.  The major regions that propeller systems manufacturers should look into for future growth possibilities are Russia, East Asia, South America, and Middle East & Africa. The demand for aircraft propellers in the coming years is expected to be from Asia, Russia, and the Middle East, and first entry may be beneficial to any entrant in the market studied.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Commercial Aircraft

      2. 5.1.2 Military Aircraft

      3. 5.1.3 General Aviation

    2. 5.2 End-user

      1. 5.2.1 Original Equipment Manufacturer (OEM)

      2. 5.2.2 Aftermarket

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 France

        3. 5.3.2.3 Germany

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Russia

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Rest of Latin America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Collins Aerospace (United Technologies Corporation)

      2. 6.2.2 Dowty Propellers (General Electric)

      3. 6.2.3 McCauley Propellers

      4. 6.2.4 Airmaster Propellers

      5. 6.2.5 MT-Propeller

      6. 6.2.6 Hartzell Propeller Inc.

      7. 6.2.7 GSC Systems Ltd

      8. 6.2.8 Jabiru Aircraft

      9. 6.2.9 Peter de Necker

      10. 6.2.10 Aerosila

      11. 6.2.11 WhirlWind Propellers

      12. 6.2.12 Senseich Propeller Company

      13. 6.2.13 Hercules Propellers

      14. 6.2.14 FP Propeller

      15. 6.2.15 DUC Helices

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Aircraft Propeller Systems Market market is studied from 2018 - 2026.

The Aircraft Propeller Systems Market is growing at a CAGR of >4% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Hartzell Propeller Inc., Collins Aerospace (United Technologies Corporation), Dowty Propellers (General Electric), Aerosila, MT-Propeller are the major companies operating in Aircraft Propeller Systems Market.

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