Our comprehensive research on the Global Aircraft Engines Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global aircraft engines market size was US$ 78.9 billion in 2021. The global aircraft engines market is expected to grow to US$ 141.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the study period from 2022 to 2030.
The part of an aircraft that provides thrust to an aircraft is referred to as the aircraft engine. A fan, compressor, combustor, turbine, mixer, and nozzle are among the main parts of an airplane engine playing distinct roles. The compressor, which compresses the incoming air and elevates the temperature and pressure, guarantees that an aircraft engine receives the necessary air intake.
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Factors Influencing the Market
The growing number of projects related to aircraft delivery is expected to potentially benefit the aircraft engines market during the forecast period. Apart from that, growing air passenger traffic will bring ample growth opportunities for the aircraft engine market during the analysis period. In March 2022, Boeing and Airbus delivered 41 and 63 commercial aircraft, respectively, as opposed to 29 and 72 deliveries in March 2021. Additionally, Qatar Airways gave an order to GE Aviation for GE9X engines for the 50 Boeing 777-8 Freighters in Jan 2022. Apart from that, air passenger volume is growing due to growing travel activities, rising disposable income, and the convenience offered by airline services.
The introduction of new advanced fuel-efficient engines is projected to drive the aircraft engines market forward. Companies operating in the aircraft engine industry, including Pratt & Whitney and NASA, are notably spending on the R&D, intending to improve the efficiency of the aircraft engines. For instance, Embraer, Widerøe, and Rolls-Royce inked an agreement in Feb 2022, with the aim to conduct a 12-month study on sustainable technologies for regional planes. Thus, such advancements will be opportunistic for the aircraft engine market on the global level.
Competitors in the Market
• CFM International
• Engine Alliance
• General Electric
• Honeywell International Inc.
• IHI Corporation
• Lycoming Engines
• MITSUBISHI HEAVY INDUSTRIES, LTD
• MTU Aero Engines AG
• Raytheon Technologies Corporation
• Rolls-Royce plc
• Safran
• Textron Inc
• Barnes Group Inc
• Euravia Engineering & Supply Co. Ltd.
• Other Prominent Players
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The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Aircraft Engines industry experienced notable growth in its workforce. Starting in January, employment within the Aircraft Engines sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Aircraft Engines output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Aircraft Engines output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Aircraft Engines market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Aircraft Engines market.
Market Segmentation
The global aircraft engines market segmentation focuses on End-Use, Platform, Engine Type, Component, and Region.
By End-Use
• Commercial Aviation
• Military Aviation
By Platform
• Fixed Wing
• Rotary Wing
By Engine Type
• Piston and Turboprop Engine
• Turbojet Engine
• Turboshaft Engine
• Turbofan Engine
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By Component
• Fan
• Compressor
• Combustor
• Turbine
• Mixer
• Nozzle
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Aircraft Engines Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Aircraft Engines Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Aircraft Engines Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Aircraft Engines Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Aircraft Engines market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Aircraft Engines market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Aircraft Engines business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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