Market Insights
“The aircraft propeller systems market size was US$ 340 million in 2024 and is likely to grow at a CAGR of more than 3% in the long run to achieve cumulative sales of more than US$ 2,000 million during 2025-2030.”
Market Dynamics
Introduction
The propeller system on an aircraft provides a method of propulsion so the aircraft can move forward in the air. The system primarily consists of blades, a hub, and a spinner. These propeller systems are generally made of aluminum, composite, or wooden materials. With the plethora of advantages composite materials offer (weight reduction, fuel efficiency, durability, enhanced aerodynamic performance, reduced maintenance cost, and the ability to withstand extreme operation conditions), the trend in the market has been to replace aluminum metal props with composite ones. Wood props are only found on some small aircraft. Propellers in aircraft come in all forms and sizes. The market incorporates everything from six-bladed, all-carbon-fiber composite propellers on the C-130J Hercules to the two-bladed metal propellers on Piper training aircraft.
Market Drivers:
Some key factors driving this market are a growing general aviation and military transport aircraft fleet, high penetration of composite propellers, and the emergence of electric aircraft.
Market Challenges:
Aging piston aircraft and their retirement, MRO bottlenecks, and the high production cost of composite propellers are some of the market's challenges.
Recent Developments:
- In December 2022, MT-Propeller announced that it had completed the first test flight of its 11-bladed propeller (the first in the world). The manufacturer has previously made five, seven, and nine-bladed propellers.
Recent M&As, Strategic Alliances and Partnerships:
Market players perform mergers and form strategic alliances and partnerships in the market. Some recent developments in the past few years:
- In March 2024, Hartzell Propeller expanded its portfolio into light-sport aircraft by completing the acquisition of WhirlWind Propellers. WhirlWind makes composite constant-speed and ground-adjustable propellers for the light-sport, experimental, and unmanned aircraft markets.
- In November 2018, UTC completed the acquisition of Rockwell Collins to form Collins Aerospace. This acquisition was a significant move in the aerospace industry, and the restructuring created a new market leader.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Platform-Type Analysis
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Military Transport Aircraft, Regional Turboprops, and General Aviation
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General Aviation is expected to grab the largest share of the market during the forecast period.
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Engine-Type Analysis
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Turboprop and Piston
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Turboprop is expected to be the bigger category during the forecast period.
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Material-Type Analysis
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Composite, Aluminum, and Other Materials
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Composite is anticipated to record the best growth trajectory during the forecast period.
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End-Use-Industry-Type Analysis
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OE Market and MRO Market
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OE is expected to record the highest growth during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North America is likely to be the leading market, whereas Asia-Pacific is poised to be the fastest-growing market during the forecast period.
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By Platform Type
“General Aviation is expected to be the market's leading platform during the forecast period.”
The aircraft propeller systems market is segmented into military transport aircraft, regional turboprops, and general aviation. The growing fleet of general aviation due to their rising applications in agriculture, medical, and other fields is expected to drive the category’s growth during the forecast period. The regional turboprops market is anticipated to grow fastest during the same period.
By Material Type
“Composite is expected to be the most sought-after material of the market during the forecast period.”
Aircraft manufacturers have long realized the advantages of composite propellers. These propellers offer significant weight savings, reduced noise and vibration, durability, and longevity. Composites' weight-saving advantages also enable propeller manufacturers to increase the number of blades on a prop, which offers several additional performance improvements. The material is expected to maintain its position in the market during the forecast period.
By End-Use Industry Type
“OE market is expected to be the fastest-growing market during the forecast period.”
Both market categories, OE and MRO, were severely impacted by the COVID-19 pandemic. Post-COVID, the market gradually came back to its feet. The aftermarket is likely to have the leading share as aluminum propellers have limited life and require replacement. The OE market will grow with the fastest CAGR owing to the burgeoning preference for composite props, as they are highly durable and can withstand multiple repairs and overhauls without requiring total replacement.
Regional Analysis
“North America is estimated to remain the largest market for aircraft propeller systems during the forecast period.”
In terms of region, North America is expected to remain the largest market for aircraft propeller systems during the forecast period. The area is a manufacturing hub for aircraft that use high-value composite propellers. The presence of leading propeller manufacturers such as Hartzell Propeller, Collins Aerospace, and McCauley Propeller further strengthens its position.
Asia-Pacific is estimated to record the highest growth during the forecast period. This is attributable to the growing demand for regional air connectivity and the expansion of global aircraft OEMs' manufacturing operations in the APAC region.
Key Players
All the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the aircraft propeller systems market.
Here is the list of the Top Players (based on dominance)
- Hartzell Propeller
- MT-Propeller
- Collins Aerospace
- Dowty Propeller
- McCauley Propeller
Note: The above list does not necessarily include all the top players in the market.
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Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Aircraft Propeller Systems market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role in helping market participants and investors identify the low-hanging fruits available in the market and formulate growth strategies to expedite their growth process. This report offers high-quality insights and results from a 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. Over 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players and those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The aircraft propeller systems market is segmented into the following categories.
Aircraft Propeller Systems Market by Platform Type
- Military Transport Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Regional Turboprops (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Propeller Systems Market by Engine Type
- Turboprop (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piston (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Propeller Systems Market by Material Type
- Composite (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other Materials (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Propeller Systems Market, by End-Use-Industry Type
- OE Market (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- MRO Market (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Propeller Systems Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Italy, France, The UK, Switzerland, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Pacific, and Rest of Asia-Pacific)
- Rest of the World
Customization Option
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players).
- SWOT analysis of key players (up to 3 players).
Market Segmentation
- Current market segmentation of any one of the product types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
