Ceramic Matrix Composites (CMCs) Market in Aircraft Engines is Forecast to Reach US$ 421.1 Million in 2028, Says Stratview Research
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Report Highlights
Segment Insights on Ceramic Matrix Composites (CMCs) Market in Aircraft Engines
The global Ceramic Matrix Composites (CMCs) Market in Aircraft Engines is segmented based on aircraft type, component type, engine type, application type, engine-zone type, material type, process type, and region.
Based on aircraft type - The market is segmented based on the aircraft type into commercial aircraft, business jets, military aircraft, and helicopters. Commercial aircraft accounted for a market share of more than 45% in 2022 & is forecasted to remain the largest segment of the market during the forecast period. The development of CMC parts in the variants of the best-selling aircraft programs, such as the B737 Max and A320neo, is the key growth driver of the market. Additionally, the upcoming variant B777x with five CMC applications in its GE9X engine is likely to further elevate the demand for CMC parts in this segment. On the other hand, the helicopter segment is estimated to grow at a healthy CAGR of almost 20% during the forecast period.
Based on the application type - The market is segmented into shrouds, combustor liners, blades, nozzles, and others. Shrouds occupied a market share of more than 25% in 2022 & are projected to remain the largest application type during the forecast period, driven by their usage in the Leap engines.
Leap engine is certified for the B737 Max, A320neo, and C919 aircraft. CFM International, a JV between GE Aviation and Safran Aircraft Engines, delivered 1,736 Leap engines in 2019 and has an order backlog of 15,614 engines as of December 2019. Furthermore, the development of CMC shrouds in upcoming aircraft engines, such as GE9x, would further accelerate the demand during the forecast period. Whereas Combustor Liner is estimated to grow at a CAGR of almost 25% during the forecast period. All the major applications including combustor liners, shrouds, blades, and nozzles, are projected to witness healthy growth rates during the forecast period.
Based on the engine zone type - The CMCs market in aircraft engines is segmented as high-pressure zone, low-pressure zone, and engine combustor. The high-pressure zone dominated the market with a share of more than 70% in 2022 and would remain the hotspot during the forecast period. CMCs are ideal materials as they offer a broad spectrum of advantages at high-pressure zones including a reliable performance at extreme temperatures up to 1,300°C, a significant weight saving compared with nearest rival nickel alloys, and no need for air cooling. This improves the engine thrust reduces fuel consumption and emits less pollution. All three zones will likely witness impressive growth rates in the coming five years.
Based on component type - The market is segmented into static and rotational. Static is expected to remain the dominant and fastest-growing component type in the market during the forecast period. Commercial CMC developments, such as shrouds for the LEAP engine; exhaust nozzles for the F135; and combustor liners, shrouds, and nozzles for the GE9x engine, are static components.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that "North America dominated the market with a share of more than 85% in 2022 & is projected to comfortably maintain its lead in the ceramic matrix composites market in aircraft engines during 2023-2028." This growth is majorly attributed to the following –
Asia-Pacific is projected to portray the highest growth during the same period, driven by the upcoming indigenous aircraft by China (C919) coupled with the increasing defense budgets of emerging Asian economies.
Ceramic Matrix Composites (CMCs) Market in Aircraft Engines Market Drivers
Some of the key drivers listed in the report are given below.
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Top Companies in Ceramic Matrix Composites (CMCs) Market in Aircraft Engines?
The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.
What Deliverables Will You Get in this Report?
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