Aircraft Engine, Parts and Equipments Market: Technological Growth Map Over time to Understand the Industry Growth Rate

This industry manufactures aircraft engines, engine parts, propeller, rotor, landing gear, fuselage, hydraulic and electric control, and avionics systems. Engines and other component parts compose of about 45 percent of the global aircraft and parts market. U.S., Canada, Japan, France, and UK are all major producers of aircraft parts. The aircraft engine and parts manufacturing industry has a medium level of concentration, with two largest aircraft manufacturers (Boeing and Airbus) holding more than 50% of the total market share. Boeing dominates this industry in the commercial aircraft sector. This industry comprises commercial aircrafts (wide body aircraft and narrow body aircraft), military aircrafts (helicopters, engines and parts used in military), rotary aircrafts (helicopters), and general aviation (small business jets and planes). It also includes single engine piston, multi engine piston, turbofan or turbojet, and turboprop that are used in these aircrafts.

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Rising demand for commercial and private airplanes due to trends in air travel is driving the market forward. Technological improvements along with innovative trends such as introduction of M601H-80 Turboprop Derivative Engine II-49 by GE Aviation and collaboration of four aviation companies (Avidyne Corporation, Eagle Creek Aviation Services, Inc., Edge Aviation Services, and Lone Mountain Aviation) to launch G3-R9 II-48 market are also one of the factors driving this market. The industry's focus on improving fuel efficiency will compel the companies to bring new low cost aircrafts, thereby driving the growth of this market. The spending in defense is expected to contract as the United States would wind down military involvement overseas, but commercial demand and growth in light jet production would keep revenue strong.

Canada leads in producing turbine-powered aviation engines for business and commercial aircraft and helicopters. Europe along with United States and Canada together hold major share of the global aircraft, engines, parts and equipment market. Countries such as Japan, South Korea with continuous technological development are estimated to be key markets over few years. With population and economic growth, rising urbanization, increasing cargo and passenger hubs, launch of low-cost carriers, deregulation, and inter-regional trade in regions such as China and India, Asia Pacific is expected to be the fastest growing market in near future.

Some of the niche players operating in this market include Airbus S.A.S., American Champion Aircraft Corporation, BAE Systems, Bell Helicopter Textron Inc., CFM International, Inc, European Aeronautic Defense and Space Co , Fokker Aerostructures B.V., GE Aviation, Pratt & Whitney International Aero Engines, Kawasaki Heavy Industries, MD Helicopters Inc., Rolls-Royce , Safran, Thales, and Zodiac.

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