Market Size of Aircraft Propeller Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 378.27 Million |
| Market Size (2029) | USD 519.81 Million |
| CAGR (2024 - 2029) | 6.56 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Propeller System Market Analysis
The Aircraft Propeller Systems Market size is estimated at USD 378.27 million in 2024, and is expected to reach USD 519.81 million by 2029, growing at a CAGR of 6.56% during the forecast period (2024-2029).
The ongoing R&D of next-generation turboprop aircraft, the stable growth in the sales of the different types of aircraft, and the increasing demand for unmanned aerial vehicles (UAVs) are expected to propel the growth of the aircraft propeller systems market. Increased focus on reducing vibration and interior noise acts as a driver for the market. Advancements in aircraft propeller systems technology also play a crucial role in enhancing aircraft performance, further propelling market growth. Moreover, growth in aircraft sales and production, especially from the commercial segment, is generating demand for exhaust systems for aircraft.
R&D on new propeller designs, such as a team in MIT Lincoln Lab's Structural and Thermal-Fluids Engineering Group working on new annular shape toroidal propellers, which are radically quieter (noise range 1-5 kHz) than traditional propellers. Similarly, Hartzell tested its new five-blade swept airfoiled carbon fiber propeller on a flight of a Hydrogen-Powered Airliner. It is part of a project with Universal Hydrogen where Hartzell Propeller is working and supporting advanced air mobility manufacturers. Such initiatives from various companies contribute to the growth of the market.
Aircraft OEMs and part manufacturers face several challenges involving additional costs that are incurred while complying with cumbersome certification processes. It poses a challenge for the mass-scale production of aircraft parts and components. Thus, the stringent certification process acts as a barrier to new entrants with the potential to enter the aircraft propeller systems market. The advent of innovative manufacturing technologies such as additive manufacturing and the increasing use of digital propeller vibration monitoring systems are anticipated to significantly impact the market prospects in the future.
