The aircraft engines market is a vital and dynamic sector within the aviation industry, driven by the ongoing need for propulsion systems that are not only powerful and efficient but also environmentally friendly. These engines are the heart of all types of aircraft, from commercial airliners to military jets, and play a pivotal role in ensuring safe and efficient air travel. As global air travel continues to expand and evolve, the demand for more fuel-efficient and technologically advanced aircraft engines has grown significantly. This market is characterized by intense competition, cutting-edge research and development, and a constant push for innovation to meet stringent performance and environmental standards. With sustainability and emissions reduction becoming paramount, the aircraft engines market is experiencing a transformative shift toward greener and more sustainable propulsion technologies, while also addressing issues related to noise reduction and operational cost-efficiency.
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Aircraft Engines Market, By Engine Type (Piston, Turbofan, Turboprop, and Turboshaft), By Wing Type (Rotary Wing and Fixed Wing), By End-user (Military Aviation and Civil Aviation (Commercial Aviation and General Aviation)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis, and Forecast till 2030
Key Market Insights from the report:
The global aircraft engines market accounted for US$ 285.76 billion by 2030 and is projected to register a moderate CAGR of 12.3%. over the forecast period. The market report has been segmented on the basis of engine type, wing type, end-user, and region.
- By engine type, the global aircraft engines market is segmented into piston, turbofan, turboprop, and turboshaft. The turbofan engine type market segment is expected to witness the highest growth over the forecast period, as airlines are focusing on increasing fuel economy which is provided by these engines.
- By wing type, the global aircraft engines market is categorized into rotary wing and fixed wing. The fixed wing segment is projected to grow at a higher rate over the forecast period as there is more demand for fixed wing aircraft across commercial, military, and general aviation applications.
- By end-user, the global aircraft engines market is categorized into commercial aviation and general aviation. Commercial end-user segment is expected to witness the highest growth during the forecast period. The increase in the number of passengers has propelled the demand for new commercial aircraft from airlines.
- By region, The North America accounts for highest market share in terms of revenue and expected to maintain its dominance over the forecast period, owing to a growing preference for air travel among consumers in the region. The Asia Pacific market is expected to witness the fastest growth, especially in emerging economies due to increasing manufacturers and rising military budget.
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The prominent player operating in the global aircraft engines market includes,
- General Electric Company
- Rolls-Royce Motor Cars Limited
- Honeywell International Inc.
- United Technologies Corporation-Pratt & Whitney Division
- Snecma S.A
- Hindustan Aeronautics Limited
- JSC “Klimov”-United Engine Corporation
- Safran SA
- Boeing Commercial Airplanes, Inc.
- Lumenis Ltd.
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