Aircraft Turbofan Engine Market Insights 2025-2034: Growth Forecast and Strategic Priorities

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Aircraft Turbofan Engine Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a significant expansion in the aircraft turbofan engine market in the past few years. The market, which was worth $3.15 billion in 2024, is expected to reach $3.36 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.7%. Factors prompting this expansion during the historic period include the enlargement of aircraft fleet, pressure for fuel-efficient solutions, environmental regulations, an increase in the demand for air travel, and the necessity to replace old engines.

Aircraft Turbofan Engine Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the aircraft turbofan engine market is expected to witness substantial growth, projecting to reach around "$4.41 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%. The anticipated rise during the forecasted period is due to increased demand for more eco-friendly aviation, increased investment in research and development, the growth of global air traffic, focus on mitigating noise pollution, urban air mobility, and electric aviation. Key trends during the projection period include improvements in engine technology, the supremacy of high-bypass ratio engines, the shift towards digitalization and engine health monitoring, sustainable aviation and hybrid-electric methods, and focus on retrofitting and engine upgrades.

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What Are the Drivers Transforming the Aircraft Turbofan Engine Market?
The growing number of aircraft orders is forecasted to spur the expansion of the aircraft turbofan engine market. Air travel demand is surging, leading to airlines purchasing new aircraft to extend their fleets and replace outdated, less fuel-efficient aircraft. Consequently, this has prompted an uptick in orders for commercial airliners, thereby fueling the demand for aircraft engines. For example, according to the General Aviation Manufacturers Association, a Belgium-based group of aircraft manufacturers and associated businesses, February 2023 saw a rise in turboprop aircraft deliveries by 10.4%, with the figure standing at 582 units in 2022, up from 2021. There was also an increase in business aircraft by 7.12%, to 712 in 2022, up from 710 in 2021. Aircraft deliveries were estimated to be worth $22.9 billion in 2022, marking an almost 5.8% increase. Hence, the surge in aircraft orders is propelling the expansion of the aircraft turbofan engines market.

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What Long-Term Trends Will Define the Future of the Aircraft Turbofan Engine Market?
Product innovation is emerging as a pivotal trend within the aircraft turbofan engine market. To remain competitive, dominant firms in this market are focusing on the introduction of groundbreaking products. For example, in October 2024, Raghu Vamsi Machine Tools, a defense and aerospace company based in India, launched a completely homegrown micro turbojet engine, named INDRA RV25: 240N. This marks a considerable progression in India's aerospace proficiency. It is in line with the country's Atma Nirbhar Bharat initiative, an endeavour to advocate self-sufficiency across various industries, such as defense and aerospace. The engine was completely conceived and fabricated in India, serving as a testament to local engineering skill and technological prowess.

Which Segments in the Aircraft Turbofan Engine Market Offer the Most Profit Potential?
The aircraft turbofan engine market covered in this report is segmented -

1) By Engine Type: PW4000, GEnx, Trent 1000, F414, GP7000, Other Engines
2) By Aircraft Type: Narrow Body Aircraft, Wide Body Aircraft
3) By Platform: Fixed Wing, Rotary Wing
4) By Application: Military Aviation, Commercial Air Transport, Other Applications

Subsegments:
1) By PW4000: PW4000-94, PW4000-100, PW4000-112
2) By GEnx: GEnx-1B, GEnx-2B
3) By Trent 1000: Trent 1000-A, Trent 1000-C, Trent 1000-TEN
4) By F414: F414-GE-400, F414-GE-400 Enhanced
5) By GP7000: GP7000-PW6100, GP7000-PW6100D
6) By Other Engines: CF6 Series, LEAP Engine, RB211 Series

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Which Firms Dominate the Aircraft Turbofan Engine Market by Market Share and Revenue in 2025?
Major companies operating in the aircraft turbofan engine market include Pratt & Whitney Canada Corp., Rolls-Royce Holdings plc, CFM International SA, Safran SA, GE Aviation, Honeywell International Inc., MTU Aero Engines AG, Eurojet Turbo GmbH, United Engine Corporation, International Aero Engines AG, Engine Alliance GP, Aero Engine Corporation of China, Aviation Industry Corporation of China, Raytheon Technologies Corporation, Snecma, Ishikawajima-Harima Heavy Industries Co. Ltd., JSC Aviadvigatel, NPO Saturn, Williams International, Ivchenko-Progress Design Bureau, Klimov JSC, Motor Sich JSC, Austro Engine GmbH, Hindustan Aeronautics Limited, Shenyang Liming Aero-Engine (Group) Co. Ltd., Kuznetsov Design Bureau, IHI Corporation, Avio Aero

Which Regions Offer the Highest Growth Potential in the Aircraft Turbofan Engine Market?
North America was the largest region in the aircraft turbofan engine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global aircraft turbofan engine market report during the forecast period. The regions covered in the aircraft turbofan engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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