Europe is projected to have prominent growth in the turbofan engines market owing to the increasing demand for aircraft in military and commercial sectors
Turbofan engines are the modern variant of basic gas turbine engines. In turbofan engines, the core of the engine is surrounded by a fan placed in the front of the engine and an additional turbine placed at the rear. The fan turbine and fans are composed of many blades and an additional shaft is connected to them. This type of design is called a two-spool engine. Some of the advanced turbofan engines have more spools for greater efficiency.
Additionally, turbofan engines have various advantages over other engines such as turbojet and turboprop engines. Turbojet engines are comparatively more efficient and the operation is quieter than other engines. Due to these advantages, turbofan engines are used in various aircraft. In the commercial segment, turbofan engines are used in transportation aircraft and business jets. In the military segment, turbofan engines are used in fighter jets and transportation aircraft.
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However, turbofan engines also have some disadvantages. They are heavier than turbojet engines and have a larger frontal area. Additionally, turbofan engines are not efficient at very high altitudes.
Turbofan Engines Market: Dynamics
The growing urbanization and increasing global passenger traffic need a faster and more comfortable way to travel. In order to fulfill this need, the airline industry is continuously growing at a significant rate. Additionally, the growing transportation sector also needs a faster way to transport goods. Air transportation is the most efficient method. The growing airline industry is increasing the demand for new technologies and fuel-efficient engines. This factor is expected to drive the turbofan engines market at a significant rate over the forecast period.
Furthermore, in the military sector, the demand for next-generation engines and improved technologies is increasing which is expected to increase the demand for turbofan engines over the forecast period.
However, turbofan engines have high manufacturing costs as compared to other aircraft engine types. Additionally, some disadvantages such as inefficiency at very high altitudes and larger frontal area, are expected to hinder the growth of the turbofan engines market over the forecast period.
Turbofan Engines Market: Segmentation
The turbofan engines market can be segmented into type, end use, and region.
On the basis of type, the global turbofan engines market is segmented into:
Wide Body Aircrafts
Narrow Body Aircrafts
On the basis of end use, the global turbofan engines market is segmented into:
Turbofan Engines Market: Regional Outlook
North America is expected to be the most lucrative market for turbofan engines owing to the continuously growing demand for new technologies in airline industries and the increasing demand for efficient engines. The region is expected to register significant growth in the turbofan engines market over the forecast period. The Asia Pacific is anticipated to have significant growth in the turbofan engines market, owing to emerging economies such as China, India, and Japan. The growing population and air traffic are projected to increase the demand for fuel-efficient engines in aircraft. The increasing number of airports and the demand for new aircraft with better and efficient engines for transportation as well as travel are expected to significantly increase the demand for turbofan engines in the region.
Furthermore, Europe is projected to have prominent growth in the turbofan engines market owing to the increasing demand for aircraft in military and commercial sectors. The Middle East and Africa region is expected to show promising growth in the turbofan engines market over the forecast period owing to the increasing air traffic and the growing airline industry in the region.
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Turbofan Engines Market: Market Participants
Some of the market participants in the global turbofan engines market are:
United Technologies Corporation - Pratt & Whitney Division
Engine Alliance LLC
International Aero Engines
United Engine Corporation
EUROJET Turbo GmbH
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