Gas Turbine Engine Airfoils Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Gas Turbine Engine Airfoils Market is Segmented By Component (Compressor Blades, Turbine Blades, Stator Vanes, Diffuser Vanes), By End-User (Power Generation, Oil and Gas, Aviation, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Gas Turbine Engine Airfoils Market Size

Global Gas Turbine Engine Airfoils Market reached USD 387.4 million in 2022 and is expected to reach USD 506.7 million by 2030, growing with a CAGR of 3.4% during the forecast period 2023-2030.

The global gas turbine engine airfoils market is a significant segment within the broader gas turbine industry. Airfoils, which include both compressor and turbine blades, play a critical role in the performance and efficiency of gas turbine engines. The market for gas turbine engine airfoils is driven by factors such as the demand for increased power output, improved fuel efficiency and stringent emissions regulations.

U.S. is home to several major gas turbine engine manufacturers and aerospace companies that are at the forefront of technological advancements in the industry. These companies invest heavily in research and development to improve airfoil designs, materials and manufacturing processes. Their continuous innovation drives the growth and performance improvements of turbine engine airfoils globally.

For instance, In accordance with U.S. Department of Energy Combined Heat and Power Installation Database, nearly 80 GW of electrical power are produced in U.S. utilising combined heat and power (CHP) systems. In order to improve the system efficiency of gas turbines with less than 20 MW power, this project investigates the use of innovative airfoil materials and designs as well as additive manufacturing techniques. Therefore, U.S. accounts for more than 3/4th of the regional shares.

Gas Turbine Engine Airfoils Market Summary

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Gas Turbine Engine Airfoils Market Dynamics

Advanced Turbine Airfoils for Efficient Combined Heat and Power Systems 

In CHP systems, advanced turbine airfoils enable efficient heat recovery from the exhaust gases generated by the turbine. Siemens Energy's advanced turbine airfoils, such as its High-Efficiency (HE) blades and vanes, effectively capture and transfer heat energy to co-generation processes. This improves the overall energy utilization of the system and provides additional benefits for heating and cooling applications. 

Advanced turbine airfoils support the utilization of various fuel sources in CHP systems, enhancing their market potential. For example, Mitsubishi Power's advanced airfoil technologies enable the efficient combustion of a wide range of fuels, including natural gas, hydrogen and renewable biofuels. This flexibility allows CHP systems to adapt to different fuel availability and energy market conditions, driving their adoption and the demand for advanced turbine airfoils. 

Expansion of Power Generation Infrastructure

The expansion of power generation infrastructure drives the growth of the global turbine engine airfoils market by creating a demand for gas turbines and their associated components, including airfoils. Siemens Energy, a prominent manufacturer of gas turbines, has been actively involved in expanding power generation infrastructure globally. In recent years, the company has secured significant contracts for the construction of power plants in various countries. 

For example, in 2021, Siemens Energy received an order to supply gas turbines for the 3.6 GW Dogger Bank offshore wind project in the UK. The project aims to provide renewable energy to millions of homes, thereby supporting the expansion of power generation infrastructure. Above mentioned developments by manufacturers highlight their involvement in expanding power generation infrastructure through the supply of gas turbines. As power plants are built or upgraded to meet increasing electricity demand, the demand for turbine engine airfoils also grows.

Long Lifespan of Gas Turbine Engines

Gas turbine engines typically have long operational lifespans, often lasting for several decades with proper maintenance and refurbishment. This means that once an engine is installed, it may not need to be replaced for a significant period. As a result, the replacement demand for new gas turbine engines and associated airfoils is limited. This can impact the growth potential of the airfoil market as manufacturers may face a reduced demand for new products.  

Instead of replacing entire gas turbine engines, operators often opt for retrofitting and upgrading existing engines to enhance their performance, improve efficiency and comply with emissions regulations. While this presents opportunities for the airfoil market in terms of supplying upgraded components, it may still limit the demand for entirely new airfoil installations.

Gas Turbine Engine Airfoils Market Segment Analysis

The global gas turbine engine airfoils market is segmented based on component, end-user and region.

Increasing Demand for Power Generation Drives the Segmental Growth 

The growing global demand for electricity, driven by population growth, industrialization and urbanization, has led to an increased need for efficient and reliable power generation. Gas turbine engines, equipped with advanced compressor blades, are widely used in power plants to produce electricity. As countries invest in expanding their power generation capacity, the demand for gas turbine engine airfoils, particularly compressor blades, has been on the rise. Therefore, compressor blades component drives the growth of the global market and is accounting for majority of market shares in 2022.

Source: DataM Intelligence Analysis (2023)

Gas Turbine Engine Airfoils Market Geographical Share

Established Aerospace Industry and Strong Research and Development (R&D) Focus Drives the European Market Growth

Europe has a long history of aerospace excellence and is home to major gas turbine engine manufacturers such as Rolls-Royce, Safran and MTU Aero Engines. These companies have extensive expertise in designing and producing gas turbine engines and their components, including airfoils. Their technological advancements and reputation for high-quality products have helped Europe establish itself as a leading player in the gas turbine engine airfoils market. 

European countries prioritize research and development in the aerospace sector, leading to continuous innovation and technological advancements in gas turbine engine airfoils. For example, the European Union's Clean Sky program aims to develop environmentally friendly and efficient aircraft technologies, including advanced airfoil designs. The focus on R&D ensures that Europe remains at the forefront of airfoil technology, driving the growth and dominance of the market. Therefore, the Europe dominates the global gas turbine engine airfoils market with significant shares.

Source: DataM Intelligence Analysis (2023)

Gas Turbine Engine Airfoils Market Companies

The major global players include General Electric (GE) Aviation, Rolls-Royce, Siemens Energy, Mitsubishi Hitachi Power Systems (MHPS), Pratt & Whitney (a division of Raytheon Technologies), Safran Aircraft Engines, Honeywell International Inc., Woodward, Inc., Kawasaki Heavy Industries and United Technologies Corporation (UTC) Aerospace Systems (Now Collins Aerospace).

COVID Impact

COVID-19 caused disruptions in global supply chains, including those related to the manufacturing and distribution of gas turbine engine airfoils. Travel restrictions, lockdown measures and temporary closures of manufacturing facilities and suppliers led to delays in production and logistics. This resulted in a shortage of components and affected the overall supply chain efficiency.

The pandemic led to a decline in energy demand due to lockdowns, travel restrictions and economic uncertainties. Many power generation projects were delayed or put on hold, resulting in reduced demand for gas turbine engines and associated airfoils. The postponement of projects, such as new power plant constructions or expansions, directly impacted the market growth for airfoils.

Russia- Ukraine War Impact 

The conflict between Russia and Ukraine involves energy resources and infrastructure, particularly related to natural gas supplies. Energy security concerns can arise and countries may prioritize diversifying their energy sources or reducing reliance on certain regions. This shift in energy priorities could impact the demand for gas turbine engines and airfoils in the affected regions.

The gas turbine engine airfoils market can be regionally affected by the conflict, particularly in Europe and neighboring countries. The energy sector in these regions heavily relies on gas turbine technology and any disruptions in the supply of gas turbines or related components can impact the market.

Market Scope

By Component

• Compressor Blades
• Turbine Blades
• Stator Vanes
• Diffuser Vanes

By End-User

• Power Generation
• Oil and Gas
• Aviation
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On May 18, 2022, A contract for the acquisition of EB Airfoils, a Palm City, Florida-based MRO company for aircraft engine fan blades, compressor blades and vane, has been signed by StandardAero. EB Airfoils is one of just a handful of companies globally that has been given OEM source approval or source demonstration for the repair and overhaul of certain turbine engine components. The company employs 50 people across two locations that total roughly 20,000 square feet.
• On June 9, 2020, an airfoil with pressure and suction sides that are separated from one another in a depth direction and connected at the leading and trailing edges makes up a turbomachine airfoil element.
• On October 28, 2020, for the next seven years, Pratt & Whitney intends to invest around US$ 650 million in the 1,000,000 square foot, superior facility in Asheville, North Carolina that produces turbine airfoils. This facility will house an innovative casting foundry for the manufacture of turbine airfoils and perform on-site airfoil machining, coating and finishing.

Why Purchase the Report?

• To visualize the global gas turbine engine airfoils market segmentation based on component, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of gas turbine engine airfoils market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global gas turbine engine airfoils market report would provide approximately 53 tables, 49 figures and 185 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies