18 Feb 2016 12:02:53
Concentration on Developing Energy Efficient Engines in Aircraft to Reduce the Greenhouse Emissions
Worldwide, the commercial aircraft market has experienced a surge in demand for innovative and advanced aircrafts. This trend is largely influenced by the entry of new airline companies and network expansion by existing airline companies. The global commercial aircraft market is expected to exhibit a 5.0% CAGR between 2013 and 2019. The global commercial aircraft market was valued at US$189.21 bn in 2012. Maintaining its predicted CAGR, the market should be valued at US$265 bn before the end of 2019.
Due to increased carbon emissions, aircraft manufacturers are concentrating on developing energy efficient engines in aircraft to meet the standards of reduced greenhouse gas emissions. It is expected that by 2050, these new developed energy efficient engines would help reduce carbon emissions by 80% in the environment. This is further supported by development of alternative fuels such as drop-in bio-fuels which is expected to emerge as a prominent solution toward achieving carbon-neutral growth in the aviation industry.
The global commercial aircraft market is primarily driven by a growing demand for narrow-body and single-aisle aircrafts. Another driver for the global commercial aircraft market is the expansion projects being conducted by multiple airline networks.
The global commercial aircraft (engine, parts, and equipment) market is categorized on the basis of
> Jet Engines
> Type of Aircraft
With respect to Jet Engines, the report includes two major classes, namely,
> Turboprop jet engines
The Components of an Aircraft include:
> Landing Gear
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The types of Commercial Aircraft studied in the report comprise of:
> Large Widebody Aircraft
> Small Widebody Aircraft
> Medium Wide Body Aircraft
> Narrow Body Aircraft
> Regional Jets
> Business Jets
Current jet engines are also expected to be replaced in a major replacement drive soon due to the development of modern fuel-efficient jet engines.Among components, the largest revenue share in the global commercial aircraft market was held by the landing gear segment in 2012.In terms of aircraft size, the global commercial aircraft market is expected to benefit from the growth in demand for the segment of narrow-body aircraft. The key reason for this growth is the preference for narrow-body aircrafts by operators that need low-cost carriers in order to fly short-distance routes efficiently. They usually cater to both business and budget travelers that use high-traffic routes that are mostly domestic.
The report also reveals that in terms of long-distance international travel, the segment of large wide-body aircraft is advancing at a steady pace, benefiting the global commercial aircraft market.In terms of aircraft type, the 2012 global commercial aircraft market was dominated by turbofan engine-propelled jets. These jets are majorly used for short-distance travel and generated the highest revenue in the global commercial aircraft market. This was attributed to the sharp increase in domestic travel in Mexico, the U.S., and Canada.
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