AIRCRAFT ENGINES MARKET: SUMMARY
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. .
AIRCRAFT ENGINES MARKET: DRIVERS & OPPORTUNITIES
- Increasing Demand for Fuel and Energy Efficient Engines
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.
- Increasing Demand for 3D Printed Aircraft Engines
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.
AIRCRAFT ENGINES MARKET: KEY SEGMENTS
- Based on type: Turbojet Engines, Turboprop Engines, Turbofan Engines, Turboshaft Engines, and Ramjets Engine
- Based on component: Fan, Compressor, Combustor, Turbine, Nozzle, and Others
- Based on aircraft type: Commercial Aircraft, Military Aircraft, Business Aircraft, and Others
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
AIRCRAFT ENGINES MARKET: REPORT SCOPE
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Type, Component, and Aircraft Type
North America, Asia-Pacific, Europe, Middle East & Africa, South America
KEY COMPANIES COVERED
- GE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Rolls-Royce plc
- United Technologies Corporation - Pratt & Whitney Division
- Honeywell International Inc.
- MTU Aero Engines
- IHI Corporation
- Lycoming Engines
- Hindustan Aeronautics Limited
- Williams International
- Other Key Companies
AIRCRAFT ENGINES MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aircraft Engines Market, by Product Type
- Turbojet Engines
- Turboprop Engines
- Turbofan Engines
- Turboshaft Engines
- Ramjets Engines
Aircraft Engines Market, by Component
Aircraft Engines Market, by Aircraft Type
- Commercial Aircraft
- Military Aircraft
- Business Aircraft
AIRCRAFT ENGINES Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Aircraft Engines Market Providers
- Aircraft Engines Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Aircraft Engines Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AIRCRAFT ENGINES MARKET STUDY