Global Aircraft Engines Market by Types (Turboprop, Turbofan, Turboshaft, and Piston Engines), Wing Positions (Fixed Wing and Rotary Wing), End-users (Commercial Aviation, Military Aviation, and Others), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028
The global aircraft engines market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. An aircraft engine, also known as an aero engine, is the prime power component of an aircraft impulsion system. Most aircraft engines have either piston engines or gas turbines. In recent years, many aircrafts or unmanned aerial vehicles (UAVs)uses electric motors. An aircraft engine is the part of the propulsion system for an aircraft, which is used to produce mechanical power.
In an aircraft engine, air is collected through an inlet at front, compressed by a fan, which is then mixed with fuel and combusted, and then fired out as a hot, fast moving exhaust at the backside, which makes the aircraft move forward. The aircraft engines market has been extremely affected by the COVID-19 pandemic due to a recession in the aviation industry and issues in the supply chains, reducing the aircraft engine deliveries in 2020.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising air traffic owing to less time consuming travel and shipping of goods is estimated to drive the growth of the market.
- Growing adoption of aircrafts in the defense sector to counter terrorism and drug trafficking is expected to fuel the global aircraft engine market.
- Increasing demand for aircraft engine with low emissions and lower weight, which can improve the fuel efficiency of aircraft is spurring the market growth.
- Increasing concerns over the failure and breakdown of aircraft engines through operation and setbacks in deliveries are some of the issues obstructing the growth of the market.
- High manufacturing and maintenance costs along with the lack of production facilities can restrain the development of this market.
- Ongoing investment in the research and development of new engine models with the adoption of technologies such as composite technologies and additive manufacturing are driving the growth of the market.
Scope of the report:
The report on global aircraft engine market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
| Attributes | Details |
| Report Title | Aircraft Engines Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast |
| Base Year | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Types (Turboprop, Turbofan, Turboshaft, and Piston Engines), Wing Positions (Fixed Wing and Rotary Wing), End-users (Commercial Aviation, Military Aviation, and Others) |
| Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
| Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
| Key Players Covered in the Report | General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation, Pratt & Whitney Division, Snecma S.A, Hindustan Aeronautics Limited, JSC "Klimov"-United engine corporation, Safran, The Boeing Company |
Aircraft Engine Market Segment Insights
Turbofan segment is projected to hold a significant share of the market
In the terms of types, the global aircraft engines market can be fragmented into turboprop, turbofan, turbo shaft, and piston engine. The turbofan segment is anticipated to dominate the market owing to growing demand for this type of engine in commercial aircraft fleet and helicopter. However, the turbo shaft segment is expected to grow at a steady rate in the coming years.
Fixed wing segment is estimated to grow at a significant pace during the forecast period
On the basis of wing positions, the market can be divided into fixed wing and rotary wing. The fixed wing is estimated to expand at a high CAGR during the forecast period owing to growing demand for air passenger traffic and rising investment of airlines in increasing the fleet size.
Commercial aviation segment to dominate the market
Based on end-users, the market can be bifurcated into commercial aviation, military aviation, and others. The commercial aviation segment dominated the market in 2020 and is expected to continue to do so in the coming years. Technological advancements in latest generation passenger aircraft are making it possible to fly longer distances without any halt between the destination. Key players are emphasizing on rising the fuel effectiveness of passenger aircraft by increasing their range. Various airlines have already placed aircraft orders in the last few years to enlarge their fleet size to provide their services to more passengers.
Asia Pacific held a considerable market share in 2020
In the terms of regions, the global aircraft engines market can be segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is estimated to hold a majority of the global market share due to the rising spending in the defense sector by emerging countries such as India and China. Moreover, increasing population and decreasing cost of air travel are one of the key drivers of the market growth in the region.
Segments
Segments covered in the report:
By Types
- Turboprop
- Turbofan
- Turbo Shaft
- Piston Engine
By Wing Positions
- Fixed Wing
- Rotary Wing
By End-users
- Commercial Aviation
- Military Aviation
- Others
By Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East & Africa
By Key Players
- General Electric Company
- Rolls-Royce Motor Cars Limited
- Honeywell International Inc.
- United Technologies Corporation
- Pratt & Whitney Division
- Snecma S.A
- Hindustan Aeronautics Limited
- JSC "Klimov"- United engine corporation
- Safran
- The Boeing Company
Competitive Landscape
Key players in the global aircraft engine markets includes General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation, Pratt & Whitney Division, Snecma S.A, Hindustan Aeronautics Limited, JSC "Klimov"-United engine corporation, Safran, The Boeing Company. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Aircraft Engine Market Overview
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 Engine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Aircraft Engine Market - Supply Chain
4.5. Global Aircraft Engine Market Forecast
4.5.1. Aircraft Engine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Aircraft Engine Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Aircraft Engine Market Absolute $ Opportunity
5. Global Aircraft Engine Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Aircraft Engine Market Size and Volume Forecast by Types
5.3.1. Turboprop
5.3.2. Turbofan
5.3.3. Turbo Shaft
5.3.4. Piston Engine
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Aircraft Engine Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Aircraft Engine Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Aircraft Engine Demand Share Forecast, 2019-2026
7. North America Aircraft Engine Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Aircraft Engine Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Aircraft Engine Market Size and Volume Forecast by Types
7.4.1. Turboprop
7.4.2. Turbofan
7.4.3. Turbo Shaft
7.4.4. Piston Engine
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Aircraft Engine Demand Share Forecast, 2019-2026
8. Latin America Aircraft Engine Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Aircraft Engine Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Aircraft Engine Market Size and Volume Forecast by Types
8.4.1. Turboprop
8.4.2. Turbofan
8.4.3. Turbo Shaft
8.4.4. Piston Engine
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Aircraft Engine Demand Share Forecast, 2019-2026
9. Europe Aircraft Engine Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Aircraft Engine Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Aircraft Engine Market Size and Volume Forecast by Types
9.4.1. Turboprop
9.4.2. Turbofan
9.4.3. Turbo Shaft
9.4.4. Piston Engine
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Aircraft Engine Demand Share Forecast, 2019-2026
10. Asia Pacific Aircraft Engine Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Aircraft Engine Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Aircraft Engine Market Size and Volume Forecast by Types
10.4.1. Turboprop
10.4.2. Turbofan
10.4.3. Turbo Shaft
10.4.4. Piston Engine
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Aircraft Engine Demand Share Forecast, 2019-2026
11. Middle East & Africa Aircraft Engine Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Aircraft Engine Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Aircraft Engine Market Size and Volume Forecast by Types
11.4.1. Turboprop
11.4.2. Turbofan
11.4.3. Turbo Shaft
11.4.4. Piston Engine
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Aircraft Engine Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Aircraft Engine Market: Market Share Analysis
12.2. Aircraft Engine Distributors and Customers
12.3. Aircraft Engine Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. General Electric Company
12.4.2. Rolls-Royce Motor Cars Limited
12.4.3. Honeywell International Inc.
12.4.4. United Technologies Corporation
12.4.5. Pratt & Whitney Division
12.4.6. Snecma S.A
12.4.7. Hindustan Aeronautics Limited
12.4.8.
Segments covered in the report:
By Types
- Turboprop
- Turbofan
- Turbo Shaft
- Piston Engine
By Wing Positions
- Fixed Wing
- Rotary Wing
By End-users
- Commercial Aviation
- Military Aviation
- Others
By Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East & Africa
By Key Players
- General Electric Company
- Rolls-Royce Motor Cars Limited
- Honeywell International Inc.
- United Technologies Corporation
- Pratt & Whitney Division
- Snecma S.A
- Hindustan Aeronautics Limited
- JSC "Klimov"- United engine corporation
- Safran
- The Boeing Company
Key players in the global aircraft engine markets includes General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation, Pratt & Whitney Division, Snecma S.A, Hindustan Aeronautics Limited, JSC "Klimov"-United engine corporation, Safran, The Boeing Company. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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