Aircraft Engines Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the Aircraft Engines Market. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure.

Key Insights:

Aircraft Engines Market Size (2024E): US$69.32 Mn
Projected Market Value (2031F): US$141.35 Mn
Market Growth Rate (CAGR 2024 to 2031): 10.7%

Aircraft Engines Market - Report Scope:

The Aircraft Engines market encompasses a wide range of engines used in commercial, military, and general aviation aircraft. This includes turbofan, turbojet, turboprop, and piston engines. The market serves various sectors, including commercial airlines, military forces, and private aviation, focusing on the development and production of high-performance engines that meet stringent regulatory requirements and consumer demands for fuel efficiency, reliability, and environmental sustainability.

Market Growth Drivers:

The Aircraft Engines market is driven by several key factors, including the increasing demand for air travel, which is leading to a rise in aircraft production and a subsequent need for new engines. The growing emphasis on fuel efficiency and the adoption of more environmentally friendly technologies are also pushing manufacturers to innovate and develop advanced propulsion systems. Additionally, the expansion of low-cost carriers and the resurgence of air travel post-pandemic are fueling market growth. Technological advancements, such as the development of hybrid and electric aircraft engines, further contribute to the market's expansion by attracting investments and partnerships.

Market Restraints:

Despite promising growth prospects, the Aircraft Engines market faces challenges related to high research and development costs, which can deter new entrants. The lengthy certification processes for new engine technologies and the strict regulatory environment can also hinder innovation. Furthermore, fluctuations in fuel prices may impact airline profitability and, subsequently, aircraft orders. Supply chain disruptions, as observed during the COVID-19 pandemic, continue to pose challenges in the timely delivery of engines and components. Additionally, the increasing focus on sustainable aviation fuels may require significant investment in infrastructure and technology.

Market Opportunities:

The Aircraft Engines market presents significant opportunities driven by technological innovations and changing consumer preferences. The growing demand for sustainable aviation solutions is prompting manufacturers to invest in research and development for alternative fuel technologies and hybrid engines. Furthermore, the rise of urban air mobility and the development of unmanned aerial vehicles (UAVs) are creating new avenues for growth. Strategic partnerships between traditional aircraft manufacturers and technology companies focused on electric and hybrid propulsion systems are likely to drive market innovation. Additionally, increasing defense budgets in various countries are expected to bolster demand for military aircraft engines.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the aircraft engines market globally?
Which engine types are gaining traction in different aviation sectors, including commercial and military?
How are technological advancements, particularly in alternative fuel and hybrid engines, reshaping the competitive landscape of the aircraft engines market?
Who are the key players in the Aircraft Engines market, and what strategies are they employing to maintain market leadership?
What are the emerging trends and future prospects in the global aircraft engines landscape?

Competitive Intelligence and Business Strategy:

Leading players in the Aircraft Engines market, including General Electric, Pratt & Whitney, Rolls-Royce, and Safran, focus on technological innovation, strategic partnerships, and mergers and acquisitions to maintain a competitive edge. These companies invest heavily in R&D to develop next-generation engines that meet the evolving needs of the aviation industry. Collaborations with airlines, aircraft manufacturers, and research institutions are crucial for advancing technology and enhancing product offerings. Additionally, these firms emphasize sustainability initiatives, such as developing engines compatible with sustainable aviation fuels and reducing carbon emissions.

Key Companies Profiled:

Advanced Atomization Technologies Inc.
Enjet Aero
Engine Alliance
Safran Group
Pratt & Whitney
Rolls-Royce
MTU Aero Engines AG
CFM International
General Electric Company
ITP Aero
New Hampshire Ball Bearing (MinebeaMitsumi Aerospace)

Aircraft Engines Market Segmentation

By Engine

Turboprop
Turbofan
Turboshaft
Piston Engine

By Aircraft

Commercial Aircraft
Military Aircraft
Business and General Aviation Aircraft

By Region

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

Product Code: PMRREP18748

1. Executive Summary

1.1. Global Aircraft Engines Snapshot, 2024-2031
1.2. Market Opportunity Assessment, 2024-2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Other Macro-economic Factors
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact
2.6. Regulatory Landscape
2.7. Value Chain Analysis
- 2.7.1. List of Raw Materials Suppliers
- 2.7.2. List of Product Manufacturers
- 2.7.3. List of Product Distributors
- 2.7.4. List of End Users
2.8. PESTLE Analysis
2.9. Porter's Five Force Analysis

3. Price Trend Analysis, 2019-2031

3.1. Key Highlights
3.2. Key Factors Impacting Product Prices
3.3. Pricing Analysis, By Aircraft
3.4. Regional Prices and Historical and Future Growth Trends

4. Global Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

4.1. Key Highlights
- 4.1.1. Market Volume (Units) Projections
- 4.1.2. Market Size (US$ Mn) and Y-o-Y Growth
- 4.1.3. Absolute $ Opportunity
4.2. Market Size (US$ Mn) Analysis and Forecast
- 4.2.1. Historical Market Size (US$ Mn) Analysis, 2019-2023
- 4.2.2. Current Market Size (US$ Mn) Analysis and Forecast, 2024-2031
4.3. Global Aircraft Engines Outlook: Aircraft
- 4.3.1. Introduction / Key Findings
- 4.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Aircraft, 2019-2023
- 4.3.3. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
  - 4.3.3.1. Commercial Aircraft
  - 4.3.3.2. Military Aircraft
  - 4.3.3.3. Business and General Aviation Aircraft
4.4. Market Attractiveness Analysis: Aircraft
4.5. Global Aircraft Engines Outlook: Engine
- 4.5.1. Introduction / Key Findings
- 4.5.2. Historical Market Size (US$ Mn) Analysis, By Engine, 2019-2023
- 4.5.3. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
  - 4.5.3.1. Turboprop
  - 4.5.3.2. Turbofan
  - 4.5.3.3. Turboshaft
  - 4.5.3.4. Piston Engine
4.6. Market Attractiveness Analysis: Engine

5. Global Aircraft Engines Outlook: Region

5.1. Key Highlights
5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Region, 2019-2023
5.3. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Region, 2024-2031
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. East Asia
- 5.3.4. South Asia and Oceania
- 5.3.5. Latin America
- 5.3.6. Middle East & Africa
5.4. Market Attractiveness Analysis: Region

6. North America Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 6.3.1. By Country
- 6.3.2. By Aircraft
- 6.3.3. By Engine
6.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 6.4.1. U.S.
- 6.4.2. Canada
6.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 6.5.1. Commercial Aircraft
- 6.5.2. Military Aircraft
- 6.5.3. Business and General Aviation Aircraft
6.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 6.6.1. Turboprop
- 6.6.2. Turbofan
- 6.6.3. Turboshaft
- 6.6.4. Piston Engine
6.7. Market Attractiveness Analysis

7. Europe Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 7.3.1. By Country
- 7.3.2. By Aircraft
- 7.3.3. By Engine
7.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 7.4.1. Germany
- 7.4.2. France
- 7.4.3. U.K.
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Turkiye
- 7.4.8. Rest of Europe
7.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 7.5.1. Commercial Aircraft
- 7.5.2. Military Aircraft
- 7.5.3. Business and General Aviation Aircraft
7.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 7.6.1. Turboprop
- 7.6.2. Turbofan
- 7.6.3. Turboshaft
- 7.6.4. Piston Engine
7.7. Market Attractiveness Analysis

8. East Asia Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 8.3.1. By Country
- 8.3.2. By Aircraft
- 8.3.3. By Engine
8.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. South Korea
8.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 8.5.1. Commercial Aircraft
- 8.5.2. Military Aircraft
- 8.5.3. Business and General Aviation Aircraft
8.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 8.6.1. Turboprop
- 8.6.2. Turbofan
- 8.6.3. Turboshaft
- 8.6.4. Piston Engine
8.7. Market Attractiveness Analysis

9. South Asia & Oceania Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 9.3.1. By Country
- 9.3.2. By Aircraft
- 9.3.3. By Engine
9.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 9.4.1. India
- 9.4.2. Southeast Asia
- 9.4.3. ANZ
- 9.4.4. Rest of South Asia & Oceania
9.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 9.5.1. Commercial Aircraft
- 9.5.2. Military Aircraft
- 9.5.3. Business and General Aviation Aircraft
9.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 9.6.1. Turboprop
- 9.6.2. Turbofan
- 9.6.3. Turboshaft
- 9.6.4. Piston Engine
9.7. Market Attractiveness Analysis

10. Latin America Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 10.3.1. By Country
- 10.3.2. By Aircraft
- 10.3.3. By Engine
- 10.3.4. By Age Group
10.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Rest of Latin America
10.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 10.5.1. Commercial Aircraft
- 10.5.2. Military Aircraft
- 10.5.3. Business and General Aviation Aircraft
10.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 10.6.1. Turboprop
- 10.6.2. Turbofan
- 10.6.3. Turboshaft
- 10.6.4. Piston Engine
10.7. Market Attractiveness Analysis

11. Middle East & Africa Aircraft Engines Outlook: Historical (2019-2023) and Forecast (2024-2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis, By Market, 2019-2023
- 11.3.1. By Country
- 11.3.2. By Aircraft
- 11.3.3. By Engine
11.4. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2024-2031
- 11.4.1. GCC Countries
- 11.4.2. Egypt
- 11.4.3. South Africa
- 11.4.4. Northern Africa
- 11.4.5. Rest of Middle East & Africa
11.5. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast, By Aircraft, 2024-2031
- 11.5.1. Commercial Aircraft
- 11.5.2. Military Aircraft
- 11.5.3. Business and General Aviation Aircraft
11.6. Current Market Size (US$ Mn) Analysis and Forecast, By Engine, 2024-2031
- 11.6.1. Turboprop
- 11.6.2. Turbofan
- 11.6.3. Turboshaft
- 11.6.4. Piston Engine
11.7. Market Attractiveness Analysis

12. Competition Landscape

12.1. Market Share Analysis, 2024
12.2. Market Structure
- 12.2.1. Competition Intensity Mapping By Aircraft
- 12.2.2. Competition Dashboard
12.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 12.3.1. Advanced Atomization Technologies Inc.
  - 12.3.1.1. Overview
  - 12.3.1.2. Segments and Products
  - 12.3.1.3. Key Financials
  - 12.3.1.4. Market Developments
  - 12.3.1.5. Market Strategy
- 12.3.2. Enjet Aero
- 12.3.3. Engine Alliance
- 12.3.4. Safran Group
- 12.3.5. Pratt & Whitney
- 12.3.6. Rolls-Royce
- 12.3.7. MTU Aero Engines AG
- 12.3.8. CFM International
- 12.3.9. General Electric Company
- 12.3.10. ITP Aero
- 12.3.11. New Hampshire Ball Bearing
- 12.3.12. Other Players

13. Appendix

13.1. Research Methodology
13.2. Research Assumptions
13.3. Acronyms and Abbreviations