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.
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 |
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.
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.
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.
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 covered in the report:
By Types
By Wing Positions
By End-users
By Regions
By Key Players
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.
Segments covered in the report:
By Types
By Wing Positions
By End-users
By Regions
By Key Players
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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