Key Market Dynamics in Aircraft Engine Market

The report on the Aircraft Engine market provides a detailed trend analysis from 2017 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
The aircraft engine market size is projected to grow from USD 60.8 billion in 2021 to USD 92.9 billion by 2026, at a CAGR of 8.9% from 2021 to 2026. The market is driven by various factors, such as rise in commercial aviation industry, rising demand for fuel efficient aircraft engines and increasing investment in the defense aviation sector.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14300744

Based on the type, the turbofan aircraft engines are projected to grow at the highest CAGR rate for the aircraft engine market during the forecast period. Turbofan engines are much more capable of flying at a higher altitude when compared to other engines, these engines also have a less amount of noise as compared to others, they are the most suitable engine for long-range flights because of their lighter weight.

Based on the platform, the fixed-wing aircraft engines are projected to grow at the highest CAGR rate for the aircraft engine market during the forecast period. With the increasing demand for commercial aircrafts across regions throughout the industry the demand for aircraft engine is also increasing. A fixed-wing aircraft generates a forward thrust and is heavier than other aircraft that use wings to generate lift for flying. A fixed-wing aircraft uses forward airspeed to generate the lift. In a fixed-wing aircraft, the wings are not always static, and the pilot does not always have to fly the aircraft.

Based on the component, the turbine is projected to grow at the highest CAGR for the aircraft engine market during the forecast period. A turbine is a rotary engine that Is used to extract energy from a flow of combustion gases. So, a turbine harnesses the kinetic energy of these gases and turns them into rotational motion. A turbine in an aircraft engine is composed of a series of blades and allows the flow of gases to enter the turbine which pushes the blade. This creates a rotational motion after which the gases are ejected which has lesser energy.

Based on technology, the conventional aircraft engine segment is projected to grow at the highest CAGR rate for the aircraft engine market during the forecast period. A conventional aircraft is also referred as the aero engine. It is the major power component for the propulsion system of the aircraft. Majority of the aircraft engines are either piston aircraft engine or a gas turbine aircraft engine. Some of major types of aircraft engines are turboprop aircraft engine, turbofan aircraft engine, turboshaft aircraft engine and piston aircraft engine.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=14300744

Based on region, North America is projected to be the largest regional share of the aircraft engine market during the forecast period. The key factor responsible for North America, leading the aircarft engine market owing to the rapid growth of the technologically advanced aircraft engine in the region. In North America, the rise in manufacturing industries and growing aerospace and defence aviation industry is encouraging manufacturers of aircraft engine to introduce technologically advanced and efficient products cross various aircraft type. The increasing demand for aircraft engine and the presence of some of the leading players operating in the market, such as General Electric Company, Honeywell International Inc., Collins Aerospace, and Textron Inc. are expected to drive the aircraft engine market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing Aircraft engine.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.