Aeroengine Accessory Drive Train Market Projected to Reach US$ 802.1 Million in 2023
As per Stratview Research, the global aeroengine ADT market is projected to grow at a healthy rate over the next five years to reach US$ 802.1 million in 2023. Organic growth of aircraft industry is the primary driver of the sustainable demand for aeroengine ADT in an aircraft. Boeing anticipated that there would be total deliveries of 41,030 commercial aircraft worth US$ 6.1 trillion in the global marketplace during 2017-2036. Asia-Pacific and North America would be the biggest demand generators with a combined share of 63.3% of the total commercial aircraft deliveries during 2017-2036. An expected healthy CAGR of 4.7% in air passenger traffic during 2017-2036 will chiefly drive the demand for commercial aircraft. This factor will create a sustainable demand for aeroengine ADTs globally in the foreseeable future.
In addition to that, Boeing and Airbus had a combined total order backlog of 13,129 commercial aircraft by the end of 2017. These huge pile of order backlogs of commercial aircraft will allow both the airframers to roll out their aircraft continuously for the next nine years at current build rates. However, they have strategically been raising the production rates of their key commercial aircraft programs in order to deliver aircraft to their widespread clients at a shorter period of time. Also, they have been introducing fuel-efficient variants of their best-selling aircraft programs with the purpose to address the biggest requirement of the airline industry, i.e. the need for fuel-efficient aircraft.