Aircraft Engines Market Size, Share & Trends (2022-27) |Report

 

Market Overview

The aircraft engines market is projected to register a CAGR of over 4% during the forecast period 2022-2027.

The market of aircraft engines was highly affected by the COVID-19 pandemic due to a downturn in the aviation industry, which resulted in reduced deliveries of aircraft engines in 2020 and 2021. However, the large-scale backlog of aircraft OEMs in the commercial, military, and general aviation sectors is expected to drive the market during the forecast period.

The planned fleet modernization and expansion plans of airlines, aircraft operators, armed forces, and charter operators are expected to propel the growth of the aircraft engines market during the forecast period.

The market’s growth is also driven by the demand for new generation engines with low emissions and lower weight, which will enhance aircraft fuel efficiency. Due to this trend, companies are investing in research and development of new engine models utilizing the latest technologies, like additive manufacturing and composite technologies.

However, growing concerns over the failure of aircraft engines during operation and delays in deliveries are some of the factors hampering the market’s growth.

Scope of the Report

An aircraft engine is a component of the aircraft’s advanced propulsion system that generates mechanical power. Based on the engine type, the market is segmented into turbofan, turboprop, turboshaft, and piston. The aircraft engine market is also segmented based on aircraft type into commercial aviation, military aviation, and general aviation. Commercial aviation is further segmented into narrow-body aircraft, wide-body aircraft, and regional aircraft. Military aviation is further segmented into combat aircraft and non-combat aircraft. General aviation is further segmented into business jet, helicopter, turboprop aircraft, and piston engine aircraft. The report also covers the sizes and forecasts for the aircraft engine market in major countries globally. The market sizing and forecasts have been provided in value (USD billion). The aftermarket sales of the engine and their parts and sales of auxiliary power units (APUs) are excluded from the study. Read Full Report

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