Aerospace Titanium Blisk Market: Increasing Aircraft Sales Are the Key Factors Driving the Market Growth
Globally, aerospace
industry is registering rise in demand for military as well as commercial
aircrafts. Titanium blisks are used in aircraft engines or the gas turbines to
compress the air for propulsion. The rise in sales of aircrafts supports the
market growth. The aviation industry is one of the major contributors to the
global economy. Commercial space pertaining to global aerospace industry is
posting higher growth buoyed by robust passenger and cargo demand.
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Based
on application, the aerospace titanium blisk market is categorized into
military, commercial, general aviation, and others, wherein “others” category
includes experimental and model aircrafts. Commercial aerospace titanium blisk
market accounted for largest market share in 2017. This can be attributed to
rising passenger as well as cargo demand throughout the world.
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According
to the International Air Transport Association (IATA), there was a significant
growth in the number of scheduled passengers that boarded commercial airlines
in the past decade; with 2,452 million passengers in 2007 to 4,093 million in
2017. This has led to growing demand for commercial aircrafts, which in turn,
is pushing the demand for titanium blisk in commercial applications.
Based on region, North America held the largest share in the aerospace titanium blisk market in 2017, with revenue of $1,735.6 million. This is attributed to the high demand for business fleets in the region. In North America, aircraft fleet size of the business aviation market in 2017 stood at 24,297 units, with Europe at 3,894 and Asia at 2,701.
Some
of the key players in the market include, MTU Aero Engines AG, GKN plc,
Rolls-Royce Holdings plc, and GE Aviation.
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