Global Aircraft Engines Market worth US$ 253.5 Billion 2029 with a CAGR of 12.4 %
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Aircraft Engines Market”, By Engine Type (Piston, Turbofan, Turboprop, and Turboshaft), By Wing Type (Rotary Wing and Fixed Wing), By End-User (Military Aviation and Civil Aviation (Commercial Aviation and General Aviation)), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - forecast till 2029
Key Market Insights from the report:
The global aircraft engines market accounted for US$ 88.8 billion in 2020 and is projected to register a moderate CAGR of 12.4 % over the forecast period. The market report has been segmented on the basis of engine type, wing type, end-user, and region.
By engine type, the global aircraft engines market is segmented into piston, turbofan, turboprop, and turboshaft. The turbofan engine type market segment is expected to witness the highest growth over the forecast period, as airlines are focusing on increasing fuel economy which is provided by these engines.
By wing type, the global aircraft engines market is categorized into rotary wing and fixed wing. The fixed wing segment is projected to grow at a higher rate over the forecast period as there is more demand for fixed wing aircraft across commercial, military, and general aviation applications.
By end-user, the global aircraft engines market is categorized into commercial aviation and general aviation. Commercial end-user segment is expected to witness the highest growth during the forecast period. The increase in the number of passengers has propelled the demand for new commercial aircraft from airlines.
By region, The North America accounts for highest market share in terms of revenue and expected to maintain its dominance over the forecast period, owing to a growing preference for air travel among consumers in the region. The Asia Pacific market is expected to witness the fastest growth, especially in emerging economies due to increasing manufacturers and rising military budget.
On April 2018, Honeywell International, has evaluated the revenue potential from supplying parts to Boeing’s next major aircraft program, which is likely to be finalized by late 2019 or early next year
On June 2018, Hindustan Aeronautics Limited has announced that air force will receive the first of its upgraded Dornier aircraft with an advanced glass cockpit and new avionics next month after a series of hiccups delayed the project by over a year
To know the upcoming trends and insights prevalent in this market, click the link below:
The prominent player operating in the global aircraft engines market includes General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation-Pratt & Whitney Division, Snecma S.A, Hindustan Aeronautics Limited, JSC "Klimov"-United Engine Corporation, Safran SA, Boeing Commercial Airplanes, Inc., and Lumenis Ltd.
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