Military Aircraft Engines Global Market Insights: Growth Drivers, Size & Forecasts to 2029

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What Is the Forecasted Market Growth Rate of the Military Aircraft Engines Industry?
The size of the military aircraft engines market has been expanding steadily over the recent past. It is forecasted to increase from $17.78 billion in 2024 to $18.4 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 3.5%. The notable growth during the historic period is due to factors such as increased requirement for unmanned aerial vehicles, proliferation of stealth and supersonic aircrafts, escalating demand for multi-purpose combat aircrafts, stringent environmental regulations, and a heightened emphasis on fuel efficacy and environmental preservation.

How Will the Military Aircraft Engines Market Size Evolve From 2025 to 2029?
The market size for military aircraft engines is projected to experience consistent growth in the coming years. By 2029, it is anticipated to reach $21.11 billion, growing at a compound annual growth rate (CAGR) of 3.5%. Factors contributing to this upward trend during the forecast period include the escalation of defense budgets, an increased requirement for superior propulsion technologies, a rise in government contracts and support, the proliferation of military modernization initiatives, and intensifying geopolitical disputes. The period is also expected to see key trends such as enhancements in engine materials and finishes, technological advancements in thrust vectoring systems, the inception of adaptive cycle engines, the application of digital engine control systems, and the creation of hybrid-electric propulsion systems.

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What Are the Main Growth Drivers in the Military Aircraft Engines Market Today?
Growth in the military aircraft engines market is anticipated to be stimulated by increasing defense budgets. These budgets are monetary allotments set aside by governments for military and defense-related operations, covering personnel, equipment, and operational costs. The surge in defense budgets is primarily due to escalating geopolitical tensions, obliging countries to boost military preparedness and upgrade defense abilities. Elevated defense expenditure typically results in more purchases of sophisticated fighter jets, transport planes, drones, and helicopters, which all need strong and dependable engines. This triggers an increased demand for both new engines and spare parts. For example, the Stockholm International Peace Research Institute, an independent international agency based in Sweden, reported in April 2025 that U.S. military expenditure hit $997 billion in 2024, representing a 5.7% growth from 2023. Thus, the upswing in defense budgets is fueling the expansion of the military aircraft engines market.

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Which Military Aircraft Engines Market Segment Is Expected to Lead Through 2029?
The military aircraft engines market covered in this report is segmented -

1) By Engine Type: Turbofan Engines, Turboprop Engines, Turbojet Engines, Turboshaft Engines
2) By Component: Compressor, Turbine, Combustion Chamber, Afterburner
3) By Technology: Conventional Engines, Hybrid Engines, Electric Engines
4) By Application: Fighter Aircraft, Transport Aircraft, Helicopters, Bombers, Reconnaissance Aircraft, Tanker Aircraft, Unmanned Aerial Vehicles

Subsegments:
1) By Turbofan Engines: Low-Bypass Turbofan Engines, High-Bypass Turbofan Engines, Variable Fan Bypass Turbofan Engines
2) By Turboprop Engines: Single-Engine Turboprop, Multi-Engine Turboprop, Free-Running Turboprop
3) By Turbojet Engines: Straight-Through Turbojet Engines, Afterburning Turbojet Engines, Low-Pressure Ratio Turbojet Engines
4) By Turboshaft Engines: Single-Spool Turboshaft Engines, Dual-Spool Turboshaft Engines, Free-Turbine Turboshaft Engines

Which Market Trends Are Expected to Dominate Military Aircraft Engines Industry Growth?
In the military aircraft engines market, dominant firms are concentrating their efforts on the creation of novel technologies like supersonic ramjet engines to improve speed, maneuverability, and overall effectiveness in future combat aircraft. Supersonic ramjet, or scramjet, is an innovative air-breathing jet engine that allows combustion to occur at exceptionally high speeds, enabling aircraft to move above Mach 5. A case in point is an Indian defense and aerospace company, Hyprix, which in February 2025, introduced Tezz, an engine for high-speed military uses such as next-gen missiles and superior aerial platforms. It took Hyprix just five months to develop Tezz, a liquid-fueled engine that highlights the flexibility and inventiveness of India's private sector in developing cutting-edge propulsion technologies. The creation of Tezz, a homegrown technology, lessens dependence on foreign technology and aligns with India's strategic ambitions for self-sufficiency in defense manufacturing. The successful advancement and assessment of Tezz not only highlight Hyprix's technical capabilities but also indicate a broader industry move towards domestic solutions for high-speed aviation and defense systems.

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Which Companies Hold the Largest Market Share in the Military Aircraft Engines Sector?
Major companies operating in the military aircraft engines market are Avio S.p.A, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., GE Aerospace, Pratt & Whitney, Rolls-Royce Holdings plc, Kawasaki Heavy Industries Ltd., IHI Corporation, Israel Aerospace Industries Ltd., Williams International Co. LLC, Safran Aircraft Engines, PBS Velká Bíteš a.s, Ivchenko-Progress SE, EuroJet Turbo GmbH, Klimov JSC, MTU Aero Engines AG, Motor Sich JSC, NPO Saturn, Chengdu Engine Group Co. Ltd., Xian Aero Engine Corporation

Where Is the Military Aircraft Engines Market Experiencing the Highest Growth?
North America was the largest region in the military aircraft engines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the military aircraft engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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