The Global Aircraft Engines Market is projected to reach a value of over USD 102.7 billion by 2027 at a CAGR of around 4.4%.
An aircraft engine is a part of the propulsion system of the aircraft which is used to generate mechanical power. Aircraft engines are designed to deliver maximum power at minimum rotation per minute (RPM). The aircraft engine consists of five components such as a fan, compressor, combustor, turbine, and nozzle. Advanced technologies allow billions of passengers to take into the air travel each year for business or leisure travel. GE, Rolls-Royce plc, United Technologies Corporation - Pratt & Whitney Division, and Honeywell International Inc. are the key players in the aircraft engines market. .
Market Driver:
According to IEA, the rising CO2 emission by aviation results in increasing the demand for energy-efficient engines. While the energy efficiency of the aircraft engine is improved by 3.2% between 2000 to 2014 and slows down to 1% until the present. The data mentioned in the sustainable development scenario (SDS), aviation energy efficiency is expected to improve by more than 3% until 2040. Due to increasing air passenger traffic, the need for fuel efficiency and energy efficiency will be expected to grow the efficient aircraft engines market during the upcoming years.
Market Opportunities:
3D printing technology is being used in aerospace & defense increase the ability to create parts that are stronger and lighter than traditional manufacturing. 3D printing is implemented in the design of aircraft engine parts for tool-less and cost-effective production of lightweight components that help to reduce fuel consumption, CO2 emission, and material cost owing to which has increased the demand for 3D printing in the aerospace industry. In the defense industry, 3D printing help to eliminates hard tooling, thus increasing the security around the design IP while lowering non-recurring costs and ensuring life cycle support. Improvement in-flight performance and production efficiency while simplifying inventory with strong, lightweight composite parts have anticipated surging the product market growth.
The report on the Aircraft Engines market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Component, and Aircraft Type |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aircraft Engines Market, by Product Type
Aircraft Engines Market, by Component
Aircraft Engines Market, by Aircraft Type
AIRCRAFT ENGINES Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AIRCRAFT ENGINES MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY