Aircraft Engines Market Revenue, Opportunity, Segment and Key Trends 2016-2028 | Safran, General Electric, Pratt & Whitney, Rolls-Royce, MTU Aero Engines, Barnes Group, Honeywell Aerospace

A recent report published by QMI on Aircraft engines market is a detailed assessment of the most important market dynamics. After carrying out thorough research of aircraft engines market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for aircraft engines during the forecast period. It can enable manufacturers of aircraft engines to change their production and marketing strategies in order to envisage maximum growth.

According to the report, the global aircraft engine market�is projected to reach USD 140.17 Billion by 2028, growing at a CAGR of 6.2% during a forecast period.

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Aircraft engines are primary propulsion devices that produce the necessary thrust to generate lift for the aircraft to fly. These engines were synonymous in design to reciprocating engines used in automobiles but in the present world, a shift from reciprocating engines to jet engines has been observed. Turbofan engines are the most common type of jet engines used in commercial aircraft, owing to their high bypass ratio and fuel efficiency. Manufacturers of aircraft engines are continuously engaged in innovation of such systems in order to reduce the overall weight and improve fuel efficiency and performance.

Air travel has increased considerably over the years. A large chunk of the population, with high disposable income, now finds traveling through flights an affordable option, which is pushing airline carriers to increase their fleet size to cater to this demand. This factor is one of the primary factors driving the growth of the aircraft engines market as airline carriers are increasingly ordering more and more aircraft.

Air pollution caused by the exhaust fumes generated after the combustion of fuel in aircraft engines is a pressing concern acknowledged by government bodies across various economies. Aircraft engine companies are therefore striving to produce fuel-efficient engines that are less polluting. Aircraft engines are cost-intensive products that can be a challenge for both producers and the aviation industry's development. The market is also dependent on the number of orders placed by airline carriers. The high number of orders can strain the productivity of aircraft OEMs, thereby restraining the growth of the market over the forecast period.

Based on aircraft type, the market is segmented into commercial, military and general aviation. The commercial aviation segment is expected to have the largest market share during the forecast period. With the increase in disposable income and worldwide tourism, a lot of commercial aircraft are being manufactured to meet customer demands. Also, due to globalization, many countries import and export products using air transport. These factors are going to propel the market for commercial aircraft through the forecast period.

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Key Factors Impacting Market Growth:

o Increasing air passenger traffic worldwide
o Increasing military expense in several regions
o Stringent regulatory policies and standards are promoting aviation safety
o Cost-intensive and require highly skilled personnel to manufacture as well as maintain aircraft engines

Insights about regional distribution of market:

The market has been segmented in major regions to understand the global development and demand patterns of this market. For aircraft engines market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions in the aircraft engines market.

North America and Western Europe have been dominant players in this market with the presence of major companies which have a strong infrastructure to boost aerospace & defense sector. In addition, some of the major countries like the US, France, UK, and Canada has been global exporters of aerospace & defense technologies due to established research & development centers, and others.�Also, some of the major companies operating in aircraft engines market are headquartered in these regions.

The Asia Pacific region is estimated to register fastest growing aircraft engines market since some of the major economies like China, India, and South Korea are present in the region. In recent decades, these countries have witnessed strong government spending on defense infrastructure, as well as promoting air transport and space research. During the forecast period, the Middle East region is estimated to be a potential region for aircraft engines market in the aerospace and defense sector. It is estimated that Eastern Europe will have stable demand during the forecast period. Also, the rest of the world is expected to be an emerging market with increasing demand.

Companies Covered: Continental Motors Group, Safran Aircraft Engines, General Electric Co., Pratt & Whitney (United Technologies Corporation), IAE International Aero Engines AG, United Engine Corporation, Rolls-Royce plc, Motor Sich JSC, AVIC Aircraft, Corporation Ltd., Aero Engine Corporation of China, MTU Aero Engines AG, Barnes Group Inc., Honeywell International Inc.

Market Segmentation:

By Type:

Turbofan
Turboprop
Turboshaft

By Wing Position:

Fixed Wing
Rotary Wing

By Aircraft Type:

Military Aviation
Fighter Jet
Transport Aircraft
Military Helicopters
Commercial Aviation
Narrow Body
Wide Body
Regional
General Aviation
Business Jet
Helicopter
Turboprop
Piston Engine

By Region:

North America
By Country (US, Canada, Mexico)
By Type
By Wing Position
By Aircraft Type
Western Europe:
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Type
By Wing Position
By Aircraft Type
Eastern Europe:
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Wing Position
By Aircraft Type
Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Type
By Wing Position
By Aircraft Type
Middle East:
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Type
By Wing Position
By Aircraft Type
Rest of the World
By Region (Latin America, Brazil, Rest of the World)
By Type
By Wing Position
By Aircraft Type

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This release was published on openPR.