Afterburner Market Size, Share, Analysis & Forecast [2031]

Report Description

Afterburner Market Outlook 2031

The global afterburner market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023–2031. The market is driven by the advancements in aviation technology.

Increased military operations and defense spending are expected to propel the afterburner market during the assessment period. The requirement for supersonic jets and high-speed commercial aircraft is catapulting the afterburner technology to new heights. Moreover, engineering advancements in the aeronautical industry are expected to enhance the efficiency of fuel, resulting in high demand for afterburners in the coming years.

• As per the report published by the International Energy Agency in July 2023, air passenger activity has surged by around 70% in 2022. This data comprises all the commercial passenger activity, including domestic and international.

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The incorporation of afterburning technology is an effective way to elevate thrust without adding significant weight in comparison to installing a large engine. Increase in aging aircraft fleet worldwide, surge in fighter aircraft backlogs, and rise in investment in next-generation military aircraft are significant factors that are driving the afterburner market. Escalation in large fighter aircraft production and investment in the development of next-generation fighter aircraft are fueling the market.

The COVID-19 pandemic hindered the market, owing to the lockdown restrictions imposed by the government. Numerous industrial activities were halted, due to the absence of workers, which led to a market slowdown. The supply chain network was completely disturbed, leading to a deficit of supply and demand. However, the market is anticipated to register substantial growth in the coming years, post pandemic.

Afterburner Market Dynamics

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Major Drivers

Growing demand for next-generation fighter aircraft is expected to drive the market during the projection period. The need for enhanced performance capabilities boosts the market. Next-gen fighters require powerful afterburners to achieve supersonic and hypersonic speeds. It is a crucial component of the aerospace industry, hence extensive research on advanced afterburner technologies is likely to drive the market.

• As per a survey report released in June 2023, the US Air Force is expected to have around 1,1358 fighters. Additionally, it is estimated to have 115 bombers and 222 tankers at its disposal in the same year.

Existing Restraints

High fuel consumption is likely to hamper the market during the forecast period, as afterburners increase operating costs for military and commercial aircraft. Afterburners are known for their fuel inefficiency. As a result, their usage is limited to short intervals. Various governments around the world are forming stringent regulations regarding emissions., as fuel costs rise and environmental concerns grow. This is expected to cause a market slowdown in the coming years.

Emerging Opportunities

­Increase in R&D activities is anticipated to create substantial growth opportunities in the market. Advanced R&D efforts are leading to the development of highly efficient afterburner technologies that have enhanced performance and are less damaging to the environment. Moreover, innovations in material and manufacturing processes significantly reduced the production cost, making the afterburners affordable for a wide range of applications. This is projected to boost the afterburner market during the assessment period.

Scope of the Afterburner Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Afterburner Market Segment Insights

Engine Type Segment Analysis

Based on engine type, the afterburner market is divided into turbojet engine and turbofan engine. The turbofan segment is projected to hold a major share of the market during the projection period, owing to their better fuel efficiency than jet engine designs. They are suitable for commercial aviation, as they cause less noise pollution at airports. Furthermore, turbofans provide a high thrust-to-weight ratio, which allows for improved aircraft performance, especially during takeoff and climb. These factors are anticipated to boost the segment during the projection period.

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Plane Type Segment Analysis

On the basis of plane type, the global market is segregated into air superiority fighter, light fighter, and interceptor aircraft. The air superiority fighter segment is projected to expand at a high CAGR during the forecast period, as these aircraft are designed to perform with enhanced combat power. This is done by combining the maneuverability, arms operations, and firepower. These aircraft allow the use of multiple weapons, ensuring maximum damage to the adversary. Consequently, these aircraft are high in demand in various air forces and are likely to impel the segment during the forecast period.

Regional Outlook

In terms of region, the global afterburner market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to its advanced aviation infrastructure and aeronautical industries. Countries such as the US in this region have one of the most advanced airforce in the world. Additionally, the general aviation industry in the US is continuously expanding, due to the prosperity of the nation and economic productivity. These factors are anticipated to create major propulsion in the market.

The market in Asia Pacific is projected to surge in the coming years, due to the high demand for air travel by consumers in economies such as India and China with large population. Rising urbanization, increasing disposable income, and elevating passenger traffic fuel the market in the region. Consequently, a large number of new high-speed aircraft is being procured in the region.

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