Increase in domestic and international air travel and rising need to upgrade the aging aircraft feet are primarily driving the global aircraft empennage market over the coming years.
According to TechSci report on, “Aircraft Empennage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the aircraft empennage market is expected to register a robust growth during the forecast period of 2023-2027, on the backbone of declining prices of aviation turbine fuel and the rapid economic growth all across the globe. Aviation turbine fuel holds around 20% of the airline’s operating expense, therefore, the fall in the price of aviation turbine fuel has accelerated the usage and demand for aircraft. This has also allowed the airlines to invest more in manufacturing aircraft and expand their operations. This rapid expansion in aircraft fleet is resulting in the increased demand for aircraft empennages. Furthermore, with the rising disposable income of the people, the number of passengers flying for travel, leisure, or work purpose has increased. This is also supplementing the overall market growth. In addition, the proliferating e-commerce and business sectors have accelerated the adoption of air cargo facilities in order to export and import goods. This has sparked the sales of aircraft, thereby boosting the demand for aircraft empennage as well. Apart from this, the rising need to replace the ageing aircrafts with upgraded and technologically advanced aircrafts is fueling the market growth further. Moreover, the improving airport infrastructure, connecting remote cities to airport hubs, and emergence of more airlines are adding to the growth of the global aircraft empennage market. Apart from this, the airline industry is becoming more customer-oriented therefore, the manufacturers are introducing new generation aircraft that offer a unique experience to their customers. Such developments are projected to help in the overall growth of the global aircraft empennage market.
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The global aircraft empennage market is segmented by aircraft type, demand category, empennage type, competitive landscape, and regional distribution. Based on the aircraft type, the market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business aircraft. Among these, the narrow-body aircraft segment is expected to hold a prominent market share in the coming years. This is primarily because narrow-body aircraft offer advantages like low-cost operation and fuel efficiency in short-haul routes. Moreover, rapid technological advancements in newer generation narrow-body aircraft are making it possible for narrow-body aircraft to fly for a longer distance and duration.
By demand category, the market is segmented between OEM and replacement. Among these, the OEM segment is anticipated to hold a significant market share in the coming years. The aircraft mechanics prefer to use OEM parts because they are less time-consuming for them. This is because if the manufacturers use OEM parts, they don’t have to do a lot of work to ensure that the part being used is approved or not. OEM parts undergo rigorous approval and quality control processes as OEM parts. Therefore, this OEM segment is anticipated to propel the overall global market in the coming years.
A list of major market players of the global aircraft empennage market includes:
- GKN plc
- Americans Spirit AeroSystems
- Triumph Group
- Mitsubishi Heavy Industries
- Leonardo S.p.A.
- Stelia Aerospace
- Premium Aerotec
- Latécoère
- Lockheed Martin Corporation
- Spirit AeroSystems, Inc
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“On the geographical front, the Asia-Pacific region is anticipated to hold a considerable market share in the coming years. Countries like China and India are projected to be among the largest aviation market in the world. China’s aviation industry became the biggest aviation market in 2020, driven by the recovery in domestic traffic. Moreover, the country is expected to take deliveries of new aircraft in the coming years. Besides, the passenger traffic in India is also projected to gain recovery at a rapid pace. IndiGo, an Indian low-cost carrier, took delivery of 44 aircrafts in 2020 and is anticipated to buy more fuel-efficient aircraft over the coming years. The growing demand for new aircraft will eventually propel the demand for aircraft empennage over the coming years, hence providing a lucrative growth opportunity to the global aircraft empennage market.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.
“Aircraft Empennage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, By Aircraft Type (Narrow-body Aircraft, Wide-Body Aircraft, Regional Aircraft, Business Aircraft), By Demand Category (OEM vs Replacement), By Empennage Type (Horizontal Empennages, Vertical Empennages), and By Region” has evaluated the future growth potential of the global aircraft empennage market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global aircraft empennage market.
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