In-Depth Examination of Segments, Industry Developments, and Key Players in the Aircraft Propulsion System Market

The aircraft propulsion system sector is positioned for notable expansion as technological advancements and evolving aerospace demands continue to drive innovation. Increasing focus on efficiency, sustainability, and high-performance capabilities is shaping the future of propulsion technologies. Here's an in-depth overview of market size projections, key players, emerging trends, and segmentations within this dynamic industry.

Projected Market Size and Growth Outlook for the Aircraft Propulsion System Market
The aircraft propulsion system market is anticipated to experience robust growth, reaching a valuation of $76.77 billion by 2030. This reflects a compound annual growth rate (CAGR) of 5.6% during the forecast period. The expansion is fueled by a rising adoption of electric and hybrid-electric propulsion technologies, the advancement of scramjet and ramjet engines catering to high-speed and hypersonic aircraft, and an intensified focus on developing lightweight, highly efficient propellers and components. Additionally, the integration of cutting-edge materials enhances engine durability and performance. Increasing procurement activities connected to next-generation commercial and defense aircraft programs also contribute significantly to this upward trajectory. Key trends shaping this market include innovations in high-thrust propulsion, lightweight propulsion parts, hybrid and distributed propulsion systems, breakthroughs in high-temperature materials, and the progression of supersonic and hypersonic propulsion technologies.

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Leading Players in the Aircraft Propulsion System Industry
Several prominent companies hold influential positions within the aircraft propulsion system market. These major players include 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, and United Technologies Corporation.

Strategic Expansion Moves Among Industry Leaders
In May 2025, Karman Space & Defense, a US aerospace and defense company, completed the acquisition of Industrial Solid Propulsion (ISP), a manufacturer specializing in solid rocket propulsion systems. Although the financial details were not disclosed, this acquisition aims to bolster Karman's foothold in the solid propulsion market. It also enhances their capabilities related to missile and space launch technologies, allowing for more integrated propulsion solutions to better serve defense and space sectors.

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Innovations and Emerging Trends Shaping the Aircraft Propulsion System Market
Market leaders are increasingly focusing on the development of advanced propulsion products that prioritize efficiency and sustainability. A notable innovation includes lightweight air-cooled electric propulsion systems, which eliminate the need for heavy liquid cooling setups. These systems reduce overall weight and complexity while maintaining superior performance. For example, in February 2023, Australia-based aerospace manufacturer Kite Magnetics introduced the KM-120 propulsion system, a 120-kilowatt unit characterized by its compactness and light weight. This system employs sophisticated air-cooling technology alongside Kite's proprietary Aeroperm nanocrystalline magnetic material, which significantly cuts energy loss and improves efficiency. The KM-120 is designed for easy integration into both new aircraft designs and retrofits, supporting a variety of electric power sources such as batteries and fuel cells. It is particularly suited for aircraft types including fixed-wing planes, eVTOLs, eSTOLs, and high-altitude platforms.

Core Segmentation of the Global Aircraft Propulsion System Market
The report categorizes the aircraft propulsion system market into multiple key segments to provide a comprehensive understanding of the industry landscape:
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

Detailed Subsegments Include:
- Air Breathing Engines: Turbojet, Turbofan, Turboprop, Ramjet, Scramjet
- Non-Air Breathing Engines: Solid Propellant Rocket Engine, Liquid Propellant Rocket Engine, Hybrid Rocket Engine
- Other Types: Electric Propulsion System, Ion Propulsion System, Nuclear Propulsion System

This segmentation provides a clear framework for understanding the different propulsion systems and their corresponding markets, highlighting the diversity and technological complexity within the aircraft propulsion system industry.

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Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

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