Aircraft Engines Market Trends, Growth, Scope, Size, Overall Analysis and Prognostication by 2026

The global aircraft engine market was valued at USD 75 billion in 2019 and is estimated to reach USD 97 billion by 2026, expanding at a CAGR of 5% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing aircraft order and rising demand for fuel efficient engines.

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An aircraft engine is one of the major component of the propulsion system of an aircraft, which produces mechanical power to generate lift for the aircraft to fly. Aircraft engine is a light weighted gas turbine engine or light weighted piston. These engines were designed similar to reciprocating engines in automobiles, a shift to jet engines from reciprocating engines has been observed. Jet engines such as turbofan engines is the most common type engine used in commercial aircraft, due to their high fuel efficiency and bypass ratio. Aircraft engines manufacturers are constantly engaged in innovating systems in order to improve fuel efficiency, performance, and reduce the overall weight. Moreover, thriving aircraft manufactures are focusing to create lucrative growth opportunity for aircraft engines market during the forecast period.

Drivers, Restrains, Opportunities and Market Trends:

• Air travel is increasing considerably, due to rise in disposable income of the population, which now finds it an affordable option to travel through flights. This factor is pushing airline carriers to grow their fleet size. This factor is one of the major factors driving the market growth of the aircraft engines, as the airline carriers are ordering aircrafts in huge numbers.
• Growing air passenger traffic is resulting in increased number of aircraft fleet with more efficient planes. Additionally, increasing demand for fuel efficient engines is also one of the major factors expected to increase the demand for aircraft engines during the forecast period.
• Environmental pollution due to emission and expulsion produced fumes, as a result of combustion of fuel in aircraft engines is expected to hinder the market growth. Moreover, high maintenance and manufacturing costs and less availability of product manufacturing units is expected to result in diseconomies of scale.
• Aircraft engines are costly products, which is expected to hinder the growth of the aviation industry and the market for manufacturers. The aircraft engine market is highly dependent on the quantity of orders placed by airline carriers. Huge orders is expected to strain the productivity of aircraft engine manufacturers, which in turn is projected to restraint the growth of the market during the forecast period.
• Highly skilled professionals are required to maintain aircraft engines as well as manufacture, and increases the cost of investment, which in turn is one the major factors restating the market growth.
• Increasing demand for lightweight aircraft engines and increasing aircraft manufacturers are expected to create numerous opportunities in the market during the forecast period.

Competitive Landscape of Global Aircraft Engines Market:

Major players in the market include United Engine Corporation, Aero Engine Corporation of China, Safran Aircraft Engines, AVIC Aircraft Corporation Ltd., Pratt & Whitney, Barnes Group Inc., Rolls-Royce plc, General Electric Co., MTU Aero Engines AG, Honeywell International Inc., Motor Sich JSC, and Continental Motors Group.  One of the major player GE Aviation was awarded a contract by US army in 2017, for producing, 500 T700 turboshaft engines for US Air Force, Marines, Coast Guard, Army, Navy, and Foreign Military Sales. 

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Segments Covered in the Report:

The global aircraft engine market has been segmented on the basis of

By Engine Types:

• Turboprop
• Turbofan
• Turboshaft
• Piston Engine

By Applications:

• Commercial
• Military
• General Aviation

By Platforms:

• Fixed Wing
• Rotary Wing

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa 

Few Points of Table of Content:

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Aircraft Engines Market Overview

4.1. Introduction

4.1.1. Market Taxonomy

4.1.2. Market Definition

4.2. Macro-Economic Factors

4.2.1. Industry Outlook

4.3. Aircraft Engines Market Dynamics

4.3.1. Market Drivers

4.3.2. Market Restraints

4.3.3. Opportunity

4.3.4. Market Trends

4.4. Aircraft Engines Market – Supply Chain

4.5. Global Aircraft Engines Market Forecast

4.5.1. Aircraft Engines Market Size (US$ Mn) and Y-o-Y Growth

4.5.2. Aircraft Engines Market Size (000? Units) and Y-o-Y Growth

4.5.3. Aircraft Engines Market Absolute $ Opportunity

5. Global Aircraft Engines Market Analysis and Forecast by Type

5.1. Market Trends

5.2. Introduction

5.2.1. Basis Point Share (BPS) Analysis by Type

5.2.2. Y-o-Y Growth Projections by Type

5.3. Aircraft Engines Market Size and Volume Forecast by Type

5.3.1. Turbofan

5.3.2. Turboprop

5.3.3. Turboshaft

5.3.4. Piston

5.4. Absolute $ Opportunity Assessment by Type

5.5. Market Attractiveness/Growth Potential Analysis by Type

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