12:00 PM The changing dynamics in Aircraft Mechanical Power Transmission System Market with covid-19 impact assessment. |
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Mechanical Power Transmission System Market. It was estimated prior to this unanticipated outbreak that the Aircraft Mechanical power transmission system will reach an estimated value of US$ 2.2 billion in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. The demand for gearboxes in the aerospace industry has been vigorous in the last decade owing to the excellent organic growth of both civil and military aviation coupled with ongoing advancements in technologies; necessitating the importance of equipment. The aerospace industry has been one of the biggest users of the mechanical power transmission system in which gearboxes play the biggest role. For a more detailed breakdown of the COVID-19 impact on the XYZ Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/808/aircraft-mechanical-power-transmission-system-market.html Aircraft Mechanical Power Transmission System Market Segment Insights: By Aircraft Type: Commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Strong order backlogs of the best-selling aircraft programs, such as B737 and A320 including their variants; upcoming aircraft programs, such as C919 and MC-21; and large aircraft fleet size are likely to create a healthy demand for the mechanical power transmission system in the commercial aircraft segment. The grounding of B737Max across the world may have some short-term impact on the demand for mechanical power transmission systems. The long-term outlook still seems impressive with good growth opportunities across the world. By Engine Type: Turbofan engine is expected to remain the dominant and the fastest-growing segment during the forecast period. Turbofan engines are majorly used in commercial aircraft, regional aircraft, and business jets. Increasing the production of commercial aircraft to meet the rising air passenger traffic across the globe is the major driving factor behind the dominance and high growth of turbofan engines. By Region: North America is projected to remain the largest market for aircraft mechanical power transmission systems during the forecast period. The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft in the world. Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption. Currently, the increasing production rate of the next-generation aircraft (B787 and F35) with improved engine performance is paving the path for the mechanical power transmission system market in the region. The opening of assembly plants of the A320 and A220 aircraft programs by Airbus in the USA further assures a healthy growth of the market in the region. Asia-Pacific is likely to witness the highest growth in the aircraft mechanical power transmission system market during the forecast, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi Space Jet). Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/808/aircraft-mechanical-power-transmission-system-market.html Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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