Narrow Bodied Aircraft Market Driving Factors, Opportunities & Challenges Till 2022

Narrow Bodied Aircraft Engine Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. A type of aircraft having only one aisle is known as Narrow bodied aircraft. These kinds of aircraft are mostly used in regional transport. Narrow body aircraft have less capacity as compared to double aisle aircraft.

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The factors that propel the growth of the Narrow Bodied Aircraft Engine Market include increasing demand, rapid urbanization & industrialization, and product development & technological innovations. In addition, factors such as changing standard of living, rise in air travel, rise in disposable income, and considerable rise in engine production. On the other hand, there are also factors that may hamper the growth of the market such as high cost associated with replacement of engines.

Narrow Bodied Aircraft Engine Market is classified on the basis of product type, applications, distribution channel and geography. The industry is segmented by product type as turbo fan engine, and turboprop engine. This market is classified on applications as small and medium narrow-body aircraft and large narrow-body aircraft.

Narrow Bodied Aircraft Engine Market is segmented by distribution channel as online stores, specialty stores and others. The market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.

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The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia& New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa.

Some of the key players that fuel the growth of the Narrow Bodied Aircraft Engine Market include CFM International, Pratt & Whitney, GE Aviation, Rolls-Royce, International Aero Engines, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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