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Aircraft Engine Market by Engine Type (Piston and Turboprop Engine, Turbojet Engine, Turboshaft Engine, Turbofan Engine), by Component (Fan, Compressor, Combustor, Turbine, Mixer, Nozzle), by End Use (Commercial Aviation, Military Aviation), by Platform (Fixed Wing, Rotary Wing): Global Opportunity Analysis and Industry Forecast, 2022-2030

Aircraft Engine Market by Engine Type (Piston and Turboprop Engine,...

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Aircraft Engine Market by Engine Type (Piston and Turboprop Engine, Turbojet Engine, Turboshaft Engine, Turbofan Engine), by Component (Fan, Compressor, Combustor, Turbine, Mixer, Nozzle), by End Use (Commercial Aviation, Military Aviation), by Platform (Fixed Wing, Rotary Wing): Global Opportunity Analysis and Industry Forecast, 2022-2030
Aircraft Engine Market by Engine...
Report Code
RO14/128/2959

Publish Date
22/Feb/2023

Pages
200
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The global aircraft engine market size was US$ 79.1 billion in 2021. The global aircraft engine market size is estimated to reach US$ 150.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% during the forecast period from 2022 to 2030.
An aircraft engine guides the segment that provides thrust to an aircraft while taxing or in the course of aviation. The primary elements of an aircraft engine contain a compressor, a fan, a turbine, a combustor, a nozzle, and a mixer. Each element plays a vital part in an airplane engine. The fan guarantees the necessary air input for an aircraft engine, obeyed by the compressor, which compresses the inlet air and increases the pressure and temperature.

Factors Influencing Market Growth

• The increase in the adoption of cost-effective and fuel-efficient aircraft is driving the overall market expansion.
• The increasing costs of fuel have prompted manufacturers to concentrate on the fuel efficiency of the aircraft propelling the global market growth.
• The use of lightweight products like reinforced plastic, carbon fiber, and other composite materials that are light and have significant strength is propelling the overall market growth.

Study of the COVID-19 Pandemic

COVID-19 had a severe impact on the expansion of the overall market. It had destroyed various nations across the globe, and it has adversely impacted the aviation sector. Aircraft encountered a financial problem and cut power at incomparable speeds owing to the lack of passenger needs. Some of the airlines shut down entirely. Many airlines stopped their orders, which instantly hinder the global market growth.

Regional Insights

Asia Pacific is anticipated to notice the highest CAGR during the analysis period due to the increasing security spending by the Indian government. This resulted in the need for fighter aircraft and military choppers in the nation. In addition, increasing air passenger traffic in the area has made the need for new aircraft procurement anticipated to propel the overall market growth.

Leading Competitors
The prominent players in the global aircraft engine market are:
• Barnes Group Inc
• Textron 
• Safran
• Rolls-Royce
• Raytheon Technologies Corporation
• MTU Aero Engines
• Honeywell International
• General Electric
• CFM International
• Engine Alliance
• Others
Segmentation Analysis
The global aircraft engine market segmentation focuses on End Use, Platform, Engine Type, Component, and Region.
Segmentation on the basis of End Use
• Commercial Aviation
• Military Aviation

Segmentation on the basis of Platform
• Fixed Wing
• Rotary Wing

Segmentation on the basis of Engine Type
• Piston and Turboprop Engine
• Turbojet Engine
• Turboshaft Engine
• Turbofan Engine

Segmentation on the basis of Component

• Fan
• Compressor
• Combustor
• Turbine
• Mixer
• Nozzle

Segmentation on the basis of Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

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