Aircraft Engine Market - Global Market Share, Trends, Analysis and Forecasts, 2022 - 2032
The Global Aircraft Engine Market was worth US$ 70 billion in 2019 and the expected CAGR between 2021 and 2030 is 4.5%.Increased commercial aircraft deliveries, growing investment in research & development of aircraft engines, increased demand for fuel efficient and light weight aircraft engine, long life of engines, and stringent regulatory framework are the key attributes dynamically shaping the growth of the global aircraft engine market. Advancement in technology has contributed towards the evolution of aircraft engines from the basic reciprocating engines to the advanced turbofan engines. Turbofan aircraft engines are witnessing increased demand owing to the high fuel efficiency delivered by these engines. Being the primary propulsion system, aircraft engines are the heart of aircrafts and thus are witnessing continuous development globally. The global landscape of aircraft engine market is evolving rapidly with manufacturers focusing on improving fuel efficiency, reducing weight, and enhancing flight safety. Rapid growth in commercial aircraft deliveries to meet demand from increased air traffic globally, is anticipated to bolster the growth of the global aircraft engine market during the forecast period. The COVID-19 pandemic has significantly impacted the air passenger movement and is expected to impact the manufacturing and delivery of commercial aircrafts across the globe, thereby hampering the growth of the global aircraft engine market. However, the market is expected to regain its strength post the pandemic as the manufacturers are anticipated to ramp-up manufacturing activities to mitigate incurred losses.
North America contributed a dominating share to the global aircraft engine market in 2019 and is expected to dominate the global aircraft engine market throughout the forecast period. Presence of leading aircraft manufacturers, aircraft engine manufacturers, and increased investment in research & development of efficient aircraft engine are expected to contribute towards the growth of the North America aircraft engine market during the forecast period. Asia Pacific is anticipated to be the fastest growing segment during the forecast period owing to emergence of aircraft manufacturers across leading countries in Asia and rising demand for commercial aircrafts. Increased investment in strengthening air power is anticipated to drive the growth of Asia Pacific aircraft engine market during the forecast period.
Aircraft Engines Market Share Analysis, by Geography (2021)
The report titled “Aircraft Engines Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global aircraft engines market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global aircraft engines market is segmented on the basis of engine type, aircraft type, shape, applications, and geography. Based on engine type, the global aircraft engines market is segmented into turboprop engine, turbofan engine, turboshaft engine, piston engine, and others. Based on aircraft type, the global aircraft engines market is segmented into fixed wing aircraft and rotary wing aircraft. Based on applications, the global aircraft engines market is segmented into commercial aviation, business aviation, military aviation, and recreational aviation. The commercial aviation segment is further sub-segmented into narrow body aircraft, wide body aircraft, very large body aircraft, and regional aircraft. Based on geography, the global aircraft engines market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on aircraft engines tools & equipment. Further, market share of prominent companies in the global aircraft engines market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the aircraft engines companies.
The global aircraft engines market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the aircraft engines business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global aircraft engines market.
Major players active in the global aircraft engines market include Aero Engine Corporation of China, Aviation Industry Corporation of China, Ltd., Barnes Group Inc., Continental Motors Group, General Electric Company, Honeywell International Inc., IAE International Aero Engines AG, Motor Sich JSC, MTU Aero Engines AG, Pratt & Whitney (Raytheon Technologies Corporation), Rolls-Royce Holdings plc, Safran Aircraft Engines, Textron, Inc., and United Engine Corporation.
The Global Aircraft Engines Market Is Segmented As Below:
Based On Engine Type
Based On Aircraft Type
Based On Applications
Some key players operating in the Aircraft Engine market include Aero Engine Corporation of China, Aviation Industry Corporation of China, Ltd., Barnes Group Inc., Continental Motors Group, General Electric Company, Honeywell International Inc., IAE International Aero Engines AG, Motor Sich JSC, MTU Aero Engines AG, Pratt & Whitney (Raytheon Technologies Corporation), Rolls-Royce Holdings plc, Safran Aircraft Engines, Textron, Inc., and United Engine Corporation.
Increased commercial aircraft deliveries, growing investment in research & development of aircraft engines, increased demand for fuel efficient and light weight aircraft engine, long life of engines, and stringent regulatory framework are the key attributes dynamically shaping the growth of the aircraft engine market.
Based on applications, the Aircraft Engine market is segmented into Commercial Aviation, Business Aviation, Military Aviation and Recreational Aviation..
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