Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Aircraft Engine Market Outlook
The global aircraft engine market size attained a value of 95.1 billion in 2023. The market is expected to grow at a CAGR of 7.3% between 2024 and 2032, reaching almost 179.3 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
North America to Dominate the Global Aircraft Engine Industry
Regionally, North America is expected to have the largest share in the global market for aircraft engine. This can be attributed to the presence of vast aviation sector and key global players, such as GE Aviation and Honeywell International Inc., in the United States. The increasing military expenditure by the Unites States is expected to propel the regional market growth. Additionally, the increasing technological advancements and the growing investments by the aircraft engine manufacturers to produce light weight compact engines with enhanced fuel efficiency are expected to propel the industry further. Meanwhile, the Asia Pacific is projected to witness a significant growth in the forecast period due to the rapid development of the aviation industry. Additionally, the increasing defence budgets and growing air fleet in emerging countries such as India and China, coupled with the rapidly developing industrial sector, are projected to contribute to the regional growth.
Aircraft Engine: Market Segmentation
Aircraft engines are primary power generating devices in the aircraft propulsion system. They are used to generate mechanical power and lift by drawing the air through inlet followed by compression, mixing with fuel, and combusting it. The expulsion of the hot and fast-moving gas through the exhaust propels the rocket. The growing global demand and increasing environmental concerns are leading to continuous technological advancements by manufacturers in order to improve fuel efficiency and performance.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
On the basis of engine type, the market is segmented into:
- Turboprop
- Turboshaft
- Turbofan
- Piston Engine
- Others
Based on wing type, the market is divided into:
- Fixed Wing
- Rotary Wing
The industry, on the basis of aircraft type, is categorised into:
- Commercial
- Military
- General
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Rapid Technological Advancements to Improve Fuel Efficiency and Performance to Aid the Growth of the Aircraft Engine Industry
The global market for aircraft engine is being driven by the increasing technological advancements in the aviation industry. The increasing focus of the aircraft component manufacturers to enhance performance, improve fuel efficiency, and reduce engine weight is projected to aid the market growth. Moreover, the rapidly growing preference for air travel due to availability of cheaper flight options is pushing the airline companies to increase the fleet size to meet the growing demand. Additionally, the increasing investment in research and development (R&D) and rising defence expenditure for military aircrafts are expected to provide enhanced growth opportunities to the industry.
In 2020, the nationwide lockdowns and travel bans amidst the COVID-19 pandemic led to a steep decline in the global aviation industry, thereby significantly affecting the global market for aircraft engine during the same year. However, with ease in government restrictions, the market is projected to recover and reach pre -COVID levels in the forecast period.
Key Industry Players in the Global Aircraft Engine Market
The report presents a detailed analysis of the following key players in the global aircraft engine market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Honeywell International Inc.
- Safran Group
- General Electric Company
- Rolls-Royce plc
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Engine Type |
|
| Breakup by Wing Type |
|
| Breakup by Aircraft Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Aircraft Engine Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
The global aircraft engine market is being aided by the growing demand for commercial aircraft engine, which reached a value of USD 95.1 billion in 2023.
The demand for commercial aircraft engine is expected to grow at a steady pace in the forecast period of 2024-2032 to attain USD 179.3 billion by 2032, further aiding the aircraft engine market.
The major market drivers include the increasing technological advancements in the aviation industry and the increasing focus of the aircraft component manufacturers to enhance performance, improve fuel efficiency, and reduce engine weight.
The growing availability of cheaper flight options, increasing investments in research and development (R&D) by leading companies, and rising defence expenditure for military aircrafts are the key trends augmenting the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant engine types considered in the market report are turboprop, turboshaft, turbofan, and piston engine, among others.
The major wing types in the market are fixed wing and rotary wing.
The different aircraft types considered in the market report are commercial, military, and general, among others.
The major players in the market are Honeywell International Inc., Safran Group, General Electric Company, and Rolls-Royce plc, among others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124