Thrust Reverser Actuation System (TRAS) Market Forecast and CAGR
According to latest research by Persistence Market Research, the global market of Thrust Reverser Actuation System is anticipated to surge at a CAGR of 8% to 10% during 2021-2031. The application of these systems is commonly observed in the aviation industry where aircraft thrust reversers are deployed as a precautionary safety measure.
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What is Driving Demand for Thrust Reverser Actuation System (TRAS)?
The aviation sector has witnessing a substantial growth in passenger traffic, leading to a prominent rise in the demand for modern aircrafts with advanced features. This is projected to positively impact the sales of Thrust Reverser Actuation System.
The competitive advantages of electric mechanism over traditional hydraulic mechanism is resulting in an increase in their usage in the global market. Moreover, the implementation of new emission regulations in many regions around the world is fueling demand for new-generation aircrafts, these factors are expected to spur the demand for Thrust Reverser Actuation System market.
Asia-Pacific Thrust Reverser Actuation System Demand Outlook
The aviation industry is expanding rapidly due to the rise in passenger traffic in Asia-Pacific. This is primarily due to increased air connectivity in the region, which has been fueled by a rise in disposable income of the middle-class families prevailing in this region. The rise in tourism is another factor attributing to the increase in demand.
Governments in this region are also undertaking special measures to increase air travel. The Indian Government intends to make air travel widespread and affordable through the UDAN scheme, regional airport growth and Regional Connectivity Scheme (RCS).
Airport facilities along with new routes for air travel are being implemented as part of this scheme to increase air connectivity in the region. Countries such as India and China among others, have experienced an increase in passenger traffic as a result of these factors.
Due to the ongoing COVID-19 crisis, the aircraft thrust reverser actuation system companies have suffered a significant financial loss. However, TRAS production is projected to be more agile post COVID-19 pandemic.
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Who are the Key Manufacturers and Suppliers of Thrust Reverser Actuation System?
The market for Thrust Reverser Actuation System is highly consolidated, with key players supporting most of military, commercial and general aviation aircraft programmes.
- Collins Aerospace
- Woodward Inc.
- Parker Hannifin Corporation
- Safran SA
- Triumph Group
Are the major players in the industry. Some other players prevailing in the industry include
- Honeywell International Inc.
- Arkwin Industries Inc. (TransDigm Group Inc.)
- Diakont, Middle River Aircraft Systems
- The NORDAM Group LLC
- Spirit AeroSystems Inc.
Woodward Inc. and Collins Aerospace offer Thrust Reverser Actuation System for various business jet and commercial aircrafts.
The players in the market enter into contracts with the OEMs to provide TRAS. These contracts are usually long term bonds. As a result, making it hard for new players to enter the market.
The aftermarket sales and services growth is expected to assist the companies in increasing their consumer base as well as their global footprint. Additionally, manufacturers are concentrating on the advancement of mechanisms and new technologies to improve the efficacy of aircraft Thrust Reverser Actuation System in terms of braking.
Emerging technology, such as 3D printing and addition of electric components, need to be adopted by players in order to remain competitive against the well established players which are dominant in the industry.
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