Driving Aircraft Propulsion System Market Growth in 2025: The Role of Expansion Of Air Cargo Services Fueling The Growth Of The Market Due To Rising E-Commerce Demand And Delivery Expectations

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Aircraft Propulsion System Market Size Growth Forecast: What to Expect by 2025?
The size of the aircraft propulsion system market has seen considerable growth in the past few years. Rising from a market size of $55.11 billion in 2024, it is projected to reach $58.40 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. Several factors have contributed to this growth in the historic period, including heightened air passenger traffic, a growing demand for more fuel-efficient engines, an increase in the delivery of commercial aircraft, a surge in defense spending, a transition towards sustainable aviation, and an escalating focus on urban air mobility initiatives.

How Will the Aircraft Propulsion System Market Size Evolve and Grow by 2029?
In the upcoming years, the aircraft propulsion system market is expected to witness robust expansion in its size. The market will surge to $72.81 billion by the year 2029, with a compound annual growth rate (CAGR) of 5.7%. The significant growth during this forecasted period can be largely credited to the expansion of the global aviation industry, advances during the cold war defense, the emergence of inexpensive carriers, increased government capital in aerospace, as well as the globalization of trade and travel. Some noticeable trends predicted for this duration encompass advancing turbofan engines, boundary layer ingestion technology, additive manufacturing usage in engine parts, intelligent engine health surveillance, the integration of sustainable aviation fuel, and technologies that reduce noise.

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What Drivers Are Propelling the Growth of Aircraft Propulsion System Market Forward?
The aircraft propulsion system market is set to flourish due to the ever-increasing expansion of air cargo services. These services, responsible for the swift and dependable transportation of goods both domestically and internationally using aircraft, are experiencing a surge due to the growing e-commerce market and customers' increasing demands for quick and precise delivery options. Aircraft propulsion systems are essential to the functionality of air cargo services as they facilitate speedy, efficient flight paths, thereby ensuring the prompt delivery of goods over expansive distances. These systems also amplify fuel efficiency and provide reliability, thus promoting cost-effective and consistent cargo operations. As reported in March 2025 by the Bureau of Transportation Statistics, a Government Agency in the United States, air cargo revenue soared to 83.82 billion revenue ton-miles in 2024, which represents a rise of 4.42% from the 80.27 billion documented in 2023. Consequently, the proliferation of air cargo services is fueling the expansion of the aircraft propulsion system market.

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Which Emerging Trends Are Transforming the Aircraft Propulsion System Market in 2025?
Leading organizations in the aircraft propulsion system marketplace are directing their efforts towards creating improved products like lightweight air-cooled electric propulsion systems. These innovative systems not only bolster efficiency and sustainability but also significantly bring down emissions. Such systems supplant the necessity for bulky liquid cooling systems, simultaneously curtailing weight and complexity whilst preserving high performance. A case in point is Kite Magnetics, an aerospace manufacturing firm based in Australia that in February 2023, unveiled the 120-kilowatt KM-120 propulsion system. It's designed for high power delivery while remaining notably lightweight and compact, making it a highly suitable for various aircraft types like fixed-wing planes, eVTOLs, eSTOLs, and high-altitude platforms. The system, which incorporates advanced air-cooling technology, leverages Kite's patented Aeroperm nanocrystalline magnetic material to considerably lower energy loss and improve efficiency. The KM-120 is adeptly engineered for seamless integration into both new and existing aircraft models, accommodating a wide spectrum of electric power sources, such as batteries and fuel cells.

What Are the Key Segments in the Aircraft Propulsion System Market?
The aircraft propulsion system market covered in this report is segmented -

1) By Type: Air Breathing Engine, Non-Air Breathing Engine, Other Types
2) By Engine Type: Gas Turbine Engines, Electric Or Hybrid Propulsion, Rocket Propulsion, Piston Engines
3) By Power Output: Less Than 10,000 lbf, 10,000 To 20,000 lbf, 20,000 To 30,000 lbf, Over 30,000 lbf
4) By Application: Aircraft, Missiles, Unmanned Aerial Vehicles, Spacecraft
5) By End User: Commercial, Military, General

Subsegments:
1) By Air Breathing Engine: Turbojet, Turbofan, Turboprop, Ramjet, Scramjet
2) By Non-Air Breathing Engine: Solid Propellant Rocket Engine, Liquid Propellant Rocket Engine, Hybrid Rocket Engine
3) By Other Types: Electric Propulsion System, Ion Propulsion System, Nuclear Propulsion System

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Who Are the Key Players Shaping the Aircraft Propulsion System Market's Competitive Landscape?
Major Companies operating in the aircraft propulsion system market are General Electric Company, BAE Systems plc, Collins Aerospace, L3Harris Technologies Inc., Safran S.A., Rolls‐Royce Holdings plc, IHI Aerospace Co. Ltd, Shenyang Aircraft Corporation, Bombardier Recreational Products Inc., MTU Aero Engines AG, ArianeGroup SAS, Aerojet Rocketdyne Holdings Inc., Industria de Turbo Propulsores S.A.U., Avio S.p.A., ZeroAvia Inc., H55 SA, Raytheon Technologies Corporation, Kratos Defense & Security Solutions Inc., Busek Co. Inc., Jetoptera Inc., Manta Aircraft SA, Turbotech SAS, United Technologies Corporation.

What Geographic Markets Are Powering Growth in the Aircraft Propulsion System Market?
North America was the largest region in the aircraft propulsion system market in 2024. The regions covered in the aircraft propulsion system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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