Aircraft Engines Market: Industry Analysis and Forecast (2021-2027) by Technology, Type, Platform, and Region

Aircraft Engines Market size was valued at US$ 80 Bn. in 2020. Turbofan, one of the segments reviewed in our report dominated the Aircraft Engines Market.

Aircraft Engines Market Overview:

An aircraft engine is the main propulsion device that produces the thrust needed to generate the lift for an aircraft to fly. These engines are synonyms for design with reciprocating engines used in automobiles, but today a shift from reciprocating engines to jet engines is observed. In an aircraft engine, the air is drawn from the front intake, compressed by a fan, mixed with fuel, burned, and then fired at the rear as a hot, fast-moving exhaust that propels the aircraft forward. Aircraft Engines Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020's market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.

Aircraft Engines Market Dynamics:

Increasing air travel has made great strides in the market. The commercial aviation industry consists of two main segments: the passenger aircraft industry and the freighter industry. Recently, there has been a surge in activity in both industries, boosting the aviation industry. Thus, driving the demand for aircraft engines in the market. The Aerial Vehicle Industry has increased the operation of unmanned aerial vehicles in many parts of Europe and North America. Many of the major industry players such as Honeywell International, Rolls Royce PLC, and Safran are rigorously testing the capabilities of commercial and military drones to be a safe and efficient alternative to aircraft. With the increase in pilot operations to the extent that these aircraft are required for better operational efficiency, the number of aircraft engines in the unmanned aerial vehicle segment will increase in the future. These factors are expected to drive the growth of the aircraft engines through the forecast period. Leading OEMs and aircraft manufacturers around the globe are focusing on developing fuel-efficient aircraft to reduce fuel consumption. Rising fuel prices have led manufacturers to focus on the fuel efficiency of aircraft. By reducing the total weight of the aircraft, you can increase the fuel efficiency of the aircraft. Therefore, several manufacturers have developed lightweight engines to reduce the total weight of the aircraft. Uses lightweight materials such as carbon fiber. Composite materials such as lightweight, high-strength reinforced plastics are driving the market growth of aircraft engines. Most of the high disposable income population now considers traveling by air as an affordable option, forcing airlines to increase their fleet size to meet this demand. This factor is one of the main drivers of growth in the aircraft engine market as airlines order more and more aircraft for expanding business to meet the demand. Air pollution from exhaust fumes from the burning of fuel in aircraft engines is an urgent concern recognized by government agencies in various countries. Therefore, aircraft engine manufacturers are striving to produce more fuel-efficient and environmentally friendly engines. Aircraft engines are designed and manufactured to have long life cycles. Due to the long-lasting life of the aircraft engine, there will not be demand for new engines except for new aircraft. This factor is restraining the market growth. Aircraft engines are expensive products and can be difficult for both manufacturers and the growth of the aerospace industry. The market also depends on the number of airline orders. High orders can reduce aircraft OEM productivity and slow market growth through the forecast period. The manufacture and maintenance of aircraft engines require highly skilled personnel, which increases the cost of capital. This factor is restraining the market growth of aircraft engines.

Market Trends:

In 2021, Rolls-Royce announced that it had officially started construction of UltraFan at its DemoWorks plant in Derby, England. The new aircraft engine is said to save more than 25% fuel compared to the first-generation Trent engine. In 2021, MagniX announced that it began operations at its 40,000-square-foot manufacturing facility in the Everett Industrial Complex, Washington. The engine manufactured by the company will be installed on the all-electric Alice commuter aircraft assembled by Eviation. Market trends and challenges are analyzed and compiled in the report. The data of 2020 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2016 to 2019 with market forecast until 2027. Aircraft Engines Market 1

Aircraft Engines Market Segment Analysis:

By Technology, the Conventional segment dominated the market with a 64% share in 2020. Conventional aircraft are also known as aero engines. This is the most important power component for an aircraft propulsion system. Increased use of conventional engines in current commercial and military aircraft is driving the demand of the segment. Combustion engines with conventional powertrains offer the best performance in terms of simple layout, well-known and approved technology and excellent performance in terms of mission range. The hybrid segment is expected to grow at a CAGR of 4.2% through the forecast period. Increasing investment in research and development of hybrid technology to reduce fuel consumption and carbon dioxide emission. These factors are expected to drive the growth of the market through the forecast period. Aircraft Engines Market 2 By Type, Turbofan dominated the market in 2020 with a 43% share. A turbofan engine, also known as a fan jet or bypass engine, is a type of jet engine that produces thrust through a combination of jet core outflow and bypass air and is produced by. The jacket fan driven by the nozzle core has been accelerated. The turbofan engines are much better at flying at higher altitudes than other engines, and these engines also have lower noise levels than other engines. These factors are driving the market growth of the segment. The turboshaft segment is expected to grow at 5% CAGR through the forecast period. Increasing the use of commercial helicopters will increase the demand for turboshafts. These factors are expected to drive segment market growth through the forecast period. Aircraft Engines Market 3 By Platform, The fixed-wing segment dominated the market with a 42% share in 2020. The wings do not move and are powered by a propeller or jet engine. Airplanes need to travel long distances with a certain amount of fuel, and these planes are used more often over long distances. These factors are driving the market growth of the segment. The rotor wing segment is expected to grow at a CAGR of 4.1% through the forecast period. These aircraft, including helicopters, are widely used in emergencies and are best suited for short-haul high-speed transportation. You can land anywhere, which is very effective in many situations. These factors are expected to drive the growth of the segment through the forecast period. Aircraft Engines Market 4

Aircraft Engines Market Regional Insights:

North America region dominated the market with a 39% share in 2020. Rising manufacturing and the growth of the aerospace industry have led aircraft engine manufacturers to introduce technologically advanced and efficient products to a wide variety of aircraft. The growing demand for aero engines and the presence of key players in markets such as General Electric Company, Honeywell International Inc., etc. in the region. These players are focusing on research and development to expand their product line and use technologically advanced systems, subsystems, and other components to manufacture aircraft engines. These factors are driving the growth of the aircraft engines market in the region. Asia Pacific is expected to grow at a CAGR of 8 % through the forecasted period. Increased defense budgets and air fleets in emerging countries such as India and China are expected to contribute to regional growth. Due to geopolitical tensions in the region, countries are increasing their investment to enhance their flight capabilities by procuring advanced aircraft and replacing older aircraft. These factors are expected to drive the growth of the market in the region through the forecast period. Aircraft Engines Market 5 The objective of the report is to present a comprehensive analysis of the Aircraft Engines market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Aircraft Engines market dynamics, structure by analyzing the market segments and projecting the Aircraft Engines market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Aircraft Engines market make the report investor’s guide.

Aircraft Engines Market Scope: Inquire before buying

Aircraft Engines Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 80 Bn.
Forecast Period 2021 to 2027 CAGR: 6.2 % Market Size in 2027: US $ 121.89 Bn.
Segments Covered: by Technology • Conventional • Hybrid
by Type • Turboprop • Turbofan • Turboshaft • Piston Engine
by Platform • Unmanned Ariel • Fixed Wing • Rotary Wing

Aircraft Engines Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Aircraft Engines Market Key Players

• General Electric Company • Rolls-Royce Motor Cars Limited • Honeywell International Inc. • Snecma S.A • Hindustan Aeronautics Limited • JSC "Klimov"-United Engine Corporation • Safran • Boeing. • General Aviation • Rolls-Royce Holdings PLC • CFM International SA • GE Aviation • Internatinal Aero Engines AG • MTU Aero Engines AG • Textron Inc. • Pratt & Whitney Division Snecma S.A • Raytheon Technologies Corporation • Engine Alliance LLC • Extron Inc.

FAQ:

1] What segments are covered in the Aircraft Engines Market report? Ans. The segments covered in the Aircraft Engines Market report are based on Technology, Type, and Platform. 2] Which region is expected to hold the highest share in the Aircraft Engines Market? Ans. Asia Pacific Region is expected to hold the highest share in the Aircraft Engines Market. 3] What is the market size of the Aircraft Engines Market by 2027? Ans. The market size of the Aircraft Engines Market by 2027 is US $ 121.89 Bn. 4] Who are the top key players in the Aircraft Engines Market? Ans. General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., Snecma S.A, Hindustan Aeronautics Limited, JSC "Klimov"-United Engine Corporation, Safran, Boeing., General Aviation, Rolls-Royce Holdings PLC, CFM International SA, GE Aviation, International Aero Engines AG, MTU Aero Engines AG, Textron Inc., Pratt & Whitney Division Snecma S.A, Raytheon Technologies Corporation, Engine Alliance LLC, Extron Inc. 5] What was the market size of the Aircraft Engines Market in 2020? Ans. The market size of the Aircraft Engines Market in 2020 was US $ 80 Bn.
1. Global Aircraft Engines Market: Research Methodology 2. Global Aircraft Engines Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Aircraft Engines Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Aircraft Engines Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Aircraft Engines Market Segmentation 4.1. Global Aircraft Engines Market, by Technology (2020-2027) • Conventional • Hybrid 4.2. Global Aircraft Engines Market, by Type (2020-2027) • Turboprop • Turbofan • Turboshaft • Piston Engine 4.3. Global Aircraft Engines Market, by Platform (2020-2027) • Unmanned Ariel • Fixed Wing • Rotary Wing 5. North America Aircraft Engines Market(2020-2027) 5.1. Global Aircraft Engines Market, by Technology (2020-2027) • Conventional • Hybrid 5.2. Global Aircraft Engines Market, by Type (2020-2027) • Turboprop • Turbofan • Turboshaft • Piston Engine 5.3. Global Aircraft Engines Market, by Platform (2020-2027) • Unmanned Ariel • Fixed Wing • Rotary Wing 5.4. North America Aircraft Engines Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Aircraft Engines Market (2020-2027) 6.1. European Aircraft Engines Market, by Technology (2020-2027) 6.2. European Aircraft Engines Market, by Type (2020-2027) 6.3. European Aircraft Engines Market, by Platform (2020-2027) 6.4. European Aircraft Engines Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Aircraft Engines Market (2020-2027) 7.1. Asia Pacific Aircraft Engines Market, by Technology (2020-2027) 7.2. Asia Pacific Aircraft Engines Market, by Type (2020-2027) 7.3. Asia Pacific Aircraft Engines Market, by Platform (2020-2027) 7.4. Asia Pacific Aircraft Engines Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Aircraft Engines Market (2020-2027) 8.1. Middle East and Africa Aircraft Engines Market, by Technology (2020-2027) 8.2. Middle East and Africa Aircraft Engines Market, by Type (2020-2027) 8.3. Middle East and Africa Aircraft Engines Market, by Platform (2020-2027) 8.4. Middle East and Africa Aircraft Engines Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Aircraft Engines Market (2020-2027) 9.1. Latin America Aircraft Engines Market, by Technology (2020-2027) 9.2. Latin America Aircraft Engines Market, by Type (2020-2027) 9.3. Latin America Aircraft Engines Market, by Platform (2020-2027) 9.4. Latin America Aircraft Engines Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. General Electric Company 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Rolls-Royce Motor Cars Limited 10.3. Honeywell International Inc. 10.4. Snecma S.A 10.5. Hindustan Aeronautics Limited 10.6. JSC "Klimov"-United Engine Corporation 10.7. Safran 10.8. Boeing. 10.9. General Aviation 10.10. Rolls-Royce Holdings PLC 10.11. CFM International SA 10.12. GE Aviation 10.13. Internatinal Aero Engines AG 10.14. MTU Aero Engines AG 10.15. Textron Inc. 10.16. Pratt & Whitney Division Snecma S.A 10.17. Raytheon Technologies Corporation 10.18. Engine Alliance LLC 10.19. Extron Inc.

About This Report

Report ID 31471
Category Aerospace and Defense
Published Date June 2019
Updated Date Nov 2021
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