What's Driving the Global Aircraft Engine Market Growth? Prominent Players: Safran, General Electric, Pratt & Whitney, Rolls-Royce, MTU Aero Engines, Barnes Group, Honeywell Aerospace

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. The market intelligence report on Customized Aircraft Engine Market is prepared through diligent compilation of analytical study based on historical records, current and upcoming statistics and future developments.

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The analysis of the demand for aircraft engine market aims to provide a detailed overview of the market dynamics, geographic development and various growth trends, including key drivers and restricting factors, habits of consumers or end-users, and new avenues. The research study is designed using in-depth qualitative and quantitative analysis of the global market for aircraft engine.

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 innovating such systems in order to reduce the overall weight and improve fuel efficiency and performance.

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Based on the market segment the aircraft engine market is classified as type, wing position, aircraft type and region. On the basis of market type it is bifurcated into Turbofan, Turboprop, Turboshaft. The turbofan segment holds a major share in the aircraft engines market and may continue to do so during the forecast period. Turbofan engines are most widely used in commercial and military segments. New aircraft programs, like COMAC C919 and Boeing 777X, which are yet to enter service, are powered by newer generation turbofan engine.
Based on the region the aircraft engine market is segmented into North America, Asia Pacific, Western Europe, Eastern Europe, the Middle East, and the Rest of the World. The North American region is expected to have the highest share in the market during the forecast period. Two of the biggest aircraft manufacturers, Boeing(US) and Bombardier(Canada) are present in this region and hence is expected to have a lot of demand for aircraft engines.

Key Developments:

o In April 2017, GE Aviation was awarded a contract by the US army for the production of 2,500 T700 turboshaft engines for the US Army, Navy, Air Force, Coast Guard, Marines, Foreign Military Sales (FMS) and other government agency.

o In February 2018, Safran(France) took control of Zodiac Aerospace. This helped them significantly expand their aircraft equipment portfolio.

o In November 2018, UTC Aerospace Systems(US) acquired Rockwell Collins and is one of the largest acquisitions in the history of the aerospace manufacturing industry.

o In June 2019, Rolls-Royce announced that the Royal Thai Air Force was the first international customer to update its C-130H transport fleet with the Rolls-Royce T56 Series 3.5 engine upgrade. The technology upgrade has achieved considerable success with the US Air Force C-130 and National Oceanic and Atmospheric Administration (NOAA) P-3 fleets.

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The aircraft engine market report presents an in-depth assessment of the offering of various players- 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. Their strategies to consolidate their shares or positions, and their insight into brand positioning strategies for key traction players are studied here. The analysis in the report looks at the investment patterns of leading players more closely.

Market Segmentation:

By Type:
o Turbofan
o Turboprop
o Turboshaft

By Wing Position:
o Fixed Wing
o Rotary Wing

By Aircraft Type:
o Military Aviation
o Fighter Jet
o Transport Aircraft
o Military Helicopters

o Commercial Aviation
o Narrow Body
o Wide Body
o Regional

o General Aviation
o Business Jet
o Helicopter
o Turboprop
o Piston Engine

By Region:

North America
o By Country (US, Canada, Mexico)
o By Type
o By Wing Position
o By Aircraft Type

Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Type
o By Wing Position
o By Aircraft Type

Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Wing Position
o By Aircraft Type

Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Type
o By Wing Position
o By Aircraft Type

Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Type
o By Wing Position
o By Aircraft Type

Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Type
o By Wing Position
o By Aircraft Type

Reasons To Buy This Report:
o Market size estimation of the global aircraft engine market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

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