Aircraft Engines Market Size, Share, Analysis, Trends, Growth Report, 2032

Aircraft Engines Market Insights

Zion Market Research has published a report on the global Aircraft Engines Market, estimating its value at USD 66.94 Billion in 2023, with projections indicating that it will reach USD 143.00 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 8.8% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Aircraft Engines industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Aircraft Engines Market: Overview

An aircraft engine is a part of the propulsion system for an aircraft that produces mechanical power. The product is a light weighted piston engine or light weighted gas turbine. Additionally, thriving aircraft manufacturing sector is envisaged to create lucrative growth avenues for aircraft engines market over the years ahead. In the aircraft engine, the air is drawn from the front via an inlet and is compressed with the help of a fan and then mixed with the fuel for combustion. This compressed air is then fired out to thrust the aircraft forward.

Global Aircraft Engines Market: Growth Factors

Journey through air crafts has increased significantly over the past few years due to the rise in disposable income. This has resulted in the rise in the fleet size, thereby propelling the growth of aircraft engines market. A massive need for quick passenger & goods transport facility and comfortable journey for passengers has generated the demand for aircraft engines. The market is likely to gain traction over the years ahead due to massive demand from the military sector in order to combat terrorist activities, drug trafficking, and illegal intrusion. Nevertheless, environmental pollution due to expulsion & emission of fumes produced as a result of fuel combustion in aircraft engines can hinder the industry growth. Additionally, high manufacturing & maintenance costs coupled with the availability of less number of product manufacturing units has resulted in diseconomies of scale, thereby adversely impacting the growth dynamics of the business vertical.

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Global Aircraft Engines Market: Segmentation

The aircraft engines market can be sectored into product type, wing position, and end-user.

Based on the product type, the industry can be divided into a turboprop, piston engine, turboshaft, and turbofan.

In terms of wing position, the aircraft engines market can be sectored into the rotary wing and fixed wing.

On the basis of end-user, the aircraft engines industry can be divided into military aviation and commercial aviation.

Aircraft Engines Market: Report Scope

Global Aircraft Engines Market: Regional Analysis

Region wise, the aircraft engines market can be divided into five main regions: Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa. North American region is slated to outperform other regions in terms of revenue growth through major contribution towards the overall market earnings. The growth of the region can be attributed to the large-scale presence of the original equipment manufacturers in countries such as Canada and the U.S.

Moreover, the escalating demand for new aircraft in countries such as China and India is expected to boost the expansion of aircraft engines industry in the Asia Pacific zone. Additionally, the increase in air passenger traffic in both these countries will further enlarge the market scope in the region. Furthermore, many of the giant players of the industry have shifted their production basis to the Asia Pacific region. This will prompt regional market growth.

European aircraft engines industry is anticipated to reach scalable heights over the estimated timeframe, owing to high product penetration across the countries such as; France, UK, and Germany.

Global Aircraft Engines Market: Competitive Players

Few of the main participants in aircraft engines market are

• Hindustan Aeronautics Limited
• IAE International Aero Engines AG
• CFM International
• Rolls-Royce plc
• Snecma S.A
• Safran
• Engine Alliance
• GE Aviation
• Boeing
• MTU Aero Engines
• Pratt & Whitney
• Honeywell Aerospace.

The aircraft engines market is segmented as follows:

By Product Type

• Turboprop
• Piston Engine
• Turboshaft
• Turbofan

By Wing Position

• Rotary Wing
• Fixed Wing

By End-User

• Military Aviation 
• Commercial Aviation

Global Aircraft Engines Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.