The global aircraft engine market was valued at USD 75 billion in 2019 and is estimated to reach USD 97 billion by 2026, expanding at a CAGR of 5% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing aircraft order and rising demand for fuel efficient engines.
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An aircraft engine is one of the major component of the propulsion system of an aircraft, which produces mechanical power to generate lift for the aircraft to fly. Aircraft engine is a light weighted gas turbine engine or light weighted piston. These engines were designed similar to reciprocating engines in automobiles, a shift to jet engines from reciprocating engines has been observed. Jet engines such as turbofan engines is the most common type engine used in commercial aircraft, due to their high fuel efficiency and bypass ratio. Aircraft engines manufacturers are constantly engaged in innovating systems in order to improve fuel efficiency, performance, and reduce the overall weight. Moreover, thriving aircraft manufactures are focusing to create lucrative growth opportunity for aircraft engines market during the forecast period.
Drivers, Restrains, Opportunities and Market Trends:
Competitive Landscape of Global Aircraft Engines Market:
Major players in the market include United Engine Corporation, Aero Engine Corporation of China, Safran Aircraft Engines, AVIC Aircraft Corporation Ltd., Pratt & Whitney, Barnes Group Inc., Rolls-Royce plc, General Electric Co., MTU Aero Engines AG, Honeywell International Inc., Motor Sich JSC, and Continental Motors Group. One of the major player GE Aviation was awarded a contract by US army in 2017, for producing, 500 T700 turboshaft engines for US Air Force, Marines, Coast Guard, Army, Navy, and Foreign Military Sales.
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Segments Covered in the Report:
The global aircraft engine market has been segmented on the basis of
By Applications:
By Platforms:
By Regions:
Few Points of Table of Content:
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Aircraft Engines Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Aircraft Engines Market – Supply Chain
4.5. Global Aircraft Engines Market Forecast
4.5.1. Aircraft Engines Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Aircraft Engines Market Size (000? Units) and Y-o-Y Growth
4.5.3. Aircraft Engines Market Absolute $ Opportunity
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Aircraft Engines Market Size and Volume Forecast by Type
5.3.1. Turbofan
5.3.2. Turboprop
5.3.3. Turboshaft
5.3.4. Piston
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
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