Wide Body Aircraft Engine Market Size, Share & Growth [2031]
Wide Body Aircraft Engine Market Size, Share & Growth [2031]
Segments - Global Wide-body Aircraft Engine Market by Types (Turbojet Engine and Turbo Fan Engine), Applications (Small and Medium Wide-Body Aircraft and Large Wide-Body Aircraft), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :AL-649
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| 124 Pages
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Report Description
The global wide-body aircraft engine market size was valued at USD 88.06 billion in 2022 and is expected to reach USD 117.43 billion by 2031, expanding at a CAGR of 3.25% during the forecast period, 2023–2031.
Wide-body aircraft, often known as twin-aisle aircraft, often have two or four engines. With the development of turbofan engines and the application of fuel-saving methods, wide-body jet engines have seen a significant transition in recent years. The power component of an aircraft's propulsion system is the engine. All-new engines installed on fixed and rotary-wing aircraft used in military, commercial, and general aviation aircraft projects are included in the research of the aircraft engines market.
However, the worldwide commercial aviation business has been slowed by the emergence of the COVID-19 pandemic. Passenger traffic is expected to resume in 3-4 years, hence orders for new commercial aircraft are expected to be lower in the following three years than they were pre-COVID-19.
In addition, when demand for new aircraft fell due to the pandemic in 2020, major aircraft manufacturers reduced their manufacturing rates. Due to the growth of the engine market is reliant on new aircraft orders, demand for new engines in this category will be lower between 2020 and 2022.
Market Trends, Drivers, Restraints, and Opportunities
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The rapid growth of the planned fleet modernization and expansion plans of airlines, aircraft operators, armed forces, and charter operator’s industry are major factors propelling the market expansion during the forecast period.
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Increasing demand for next-generation engines with reduced pollutants and weight, which will improve airplane fuel efficiency are anticipated to fuel the market growth in the coming years.
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Increasing concerns about aircraft engine failure during operation and delivery delays are expected to hamper the market growth during the forecast period.
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R&D investment and technological advancements like additive manufacturing and the use of composite technologies are projected to create lucrative opportunities for the market players.
Scope of Wide-body Aircraft Engine Market Report
The report on the global wide-body aircraft engine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Wide-body Aircraft Engine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Turbojet Engine and Turbo Fan Engine) and Applications (Small and Medium Wide-Body Aircraft and Large Wide-Body Aircraft) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
GE Aviation, Pratt & Whitney, and Rolls-Royce |
Wide-body Aircraft Engine Market Segment Insights
Turbo fan engine segment is projected to account for) a large market share
In terms of types, the global wide-body aircraft engine market is segmented into turbojet engine and turbo fan engine. The turbo fan engine segment is expected to constitute a key share of the market in the coming years due to the increase in the need for commercial airplanes. On the other hand, the turbojet engine segment is anticipated to expand at a rapid pace during the forecast period due to the high demand for commercial helicopter fleets.
The small and medium wide-body segment is expected to expand) at a significant pace
Based on applications, the global wide-body aircraft engine market is segregated into small and medium wide-body aircraft and large wide-body aircraft. The small and medium wide-body aircraft segment is expected to represent a key share of the market during the forecast period owing to seat more people on local and international flights to minimize operating costs and meet rising customer demand. Additionally, the small and medium aircraft segment has improved wide-body engines and provide a greater return on investment.
Europe is anticipated to dominate the market
Based on regions, the global wide-body aircraft engine market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive or healthy CAGR during the forecast period. The regional market growth can be attributed to the rapid investment in new aircraft with fuel-efficient engines.
Additionally, increased domestic and international traffic drives demand for next-generation aircraft that provide better services while lowering operating costs prove to be a major driver for the market in Europe. On the other hand, the Middle East & Africa is expected to exhibit a rapid growth rate in the coming years owing to the excellent technology and production capabilities.
Segments
Types
- Turbojet Engine
- Turbo Fan Engine
Applications
- Small and Medium Wide-Body Aircraft
- Large Wide-Body Aircraft
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
- GE Aviation
- Pratt & Whitney
- Rolls-Royce
Competitive Landscape
Key players competing in the global wide-body aircraft engine market include GE Aviation, Pratt & Whitney, and Rolls-Royce. Some of these players are investing in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase/enhance their market shares.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Wide-body 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. Wide-body 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. Wide-body Aircraft Engine Market - Supply Chain
4.5. Global Wide-body Aircraft Engine Market Forecast
4.5.1. Wide-body Aircraft Engine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wide-body Aircraft Engine Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Wide-body Aircraft Engine Market Absolute $ Opportunity
5. Global Wide-body 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. Wide-body Aircraft Engine Market Size and Volume Forecast by Types
5.3.1. Turbojet Engine
5.3.2. Turbo Fan Engine
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Wide-body Aircraft Engine Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
6.3.1. Small and Medium Wide-Body Aircraft
6.3.2. Large Wide-Body Aircraft
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Wide-body Aircraft Engine Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Wide-body Aircraft Engine Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
8. North America Wide-body 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
8.2. North America Wide-body Aircraft Engine Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Wide-body Aircraft Engine Market Size and Volume Forecast by Types
8.4.1. Turbojet Engine
8.4.2. Turbo Fan Engine
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
8.7.1. Small and Medium Wide-Body Aircraft
8.7.2. Large Wide-Body Aircraft
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
9. Latin America Wide-body 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. Latin America Average Pricing Analysis
9.2. Latin America Wide-body Aircraft Engine Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Wide-body Aircraft Engine Market Size and Volume Forecast by Types
9.4.1. Turbojet Engine
9.4.2. Turbo Fan Engine
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
9.7.1. Small and Medium Wide-Body Aircraft
9.7.2. Large Wide-Body Aircraft
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
10. Europe Wide-body 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. Europe Average Pricing Analysis
10.2. Europe Wide-body Aircraft Engine Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Wide-body Aircraft Engine Market Size and Volume Forecast by Types
10.4.1. Turbojet Engine
10.4.2. Turbo Fan Engine
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
10.7.1. Small and Medium Wide-Body Aircraft
10.7.2. Large Wide-Body Aircraft
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
11. Asia Pacific Wide-body 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. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Wide-body Aircraft Engine Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Wide-body Aircraft Engine Market Size and Volume Forecast by Types
11.4.1. Turbojet Engine
11.4.2. Turbo Fan Engine
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
11.7.1. Small and Medium Wide-Body Aircraft
11.7.2. Large Wide-Body Aircraft
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
12. Middle East & Africa Wide-body Aircraft Engine Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Wide-body Aircraft Engine Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Wide-body Aircraft Engine Market Size and Volume Forecast by Types
12.4.1. Turbojet Engine
12.4.2. Turbo Fan Engine
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Wide-body Aircraft Engine Market Size and Volume Forecast by Applications
12.7.1. Small and Medium Wide-Body Aircraft
12.7.2. Large Wide-Body Aircraft
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Wide-body Aircraft Engine Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Wide-body Aircraft Engine Market: Market Share Analysis
13.2. Wide-body Aircraft Engine Distributors and Customers
13.3. Wide-body Aircraft Engine Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. GE Aviation
13.4.2. Pratt & Whitney
13.4.3. Rolls-Royce
Methodology
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