Aircraft Engines Market Outlook 2020 Business Opportunities, Current Trends and Constraints Forecast 2028
Increasing operations and fleet expansion in the commercial aircraft sector and growing demand for UAV engines are factors driving the market
VANCOUVER, BC, CANADA, March 11, 2022 /EINPresswire.com/ — The global aircraft engine market size reached USD 56.39 billion in 2020 and is expected to register a revenue CAGR of 8.7 % over the forecast period, according to the latest analysis by Emergen Research. The major factors driving the revenue growth of the global aircraft engine market include increasing commercial aircraft operations and growing demand for aircraft engines for unmanned aerial vehicles (UAVs). Demand for cleaner or greener next-generation engines and lightweight aircraft, which can boost fuel economy, are other factors driving the market revenue growth. Companies are investing in R&D to develop engine models using advanced technologies and composites, as well as additive manufacturing (AM) – also known as 3D printing.
Increasing operations and fleet expansion in the commercial aircraft sector and growing demand for UAV engines are key factors driving the revenue growth of the global market
However, concerns regarding the durability of aircraft engines and rising fuel costs are expected to hamper the growth of the global aircraft engine market to some extent during the forecast period. In addition, growing environmental concerns regarding fuel emissions from aircraft engines are also restraining the market growth.
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Some major companies in the market report include General Electric Company (GE Aviation), Honeywell International Inc., Rolls-Royce Holdings PLC, Safran SA, MTU Aero Engines AG, IAE International Aero Engines AG, Textron Inc., CFM International SA, United Technologies Corporation and Raytheon Technologies Corporation
The global aircraft engine market is expected to register a CAGR of 8.7% and the market size is expected to grow from USD 56.39 billion in 2020 to USD 108.47 billion in 2028. commercial aviation is a major factor increasing the growth of the market.
Main information presented in the report:
Revenue from the turbine engine segment is expected to increase at a significantly rapid CAGR during the forecast period owing to the growing demand from commercial helicopter fleets.
The gearbox segment is expected to register significant growth in terms of revenue over the forecast period due to increased expenditure in gearbox-related R&D activities.
North America is expected to account for a relatively larger revenue share than other regional markets during the forecast period. Rising defense spending for military aircraft, jet fighters, and single-engine aircraft is a key driver for market growth in this region.
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Emergen Research has segmented the global aircraft engine based on type, platform, component, technology, end use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Platform Outlook (Revenue, USD Billion; 2018-2028)
Unmanned aerial vehicles
Rotary wing aircraft
Components Outlook (Revenue, USD Billion; 2018-2028)
Technology Outlook (Revenue, USD Billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (United States) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia-Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (rest of LATAM)
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Chapter 1 includes an introduction of the global Aircraft Engines Market, along with a comprehensive market overview, market scope, product offerings, and survey of market drivers, growth opportunities, risks , stresses and other vital factors.
Chapter 2 offers an in-depth analysis of key manufacturers engaged in this business vertical along with their sales and revenue estimates.
Chapter 3 details the highly competitive terrain of the market, highlighting the major manufacturers and suppliers.
In Chapter 4, our team has fragmented the Aircraft Engines market based on regions, highlighting the sales, revenue, and market share of each region over the forecast period.
Chapter 5 and 6 have emphasized on the segmentation of the Aircraft Engine market on the basis of product type and application
Thank you for reading our report. Please contact us if you have any questions regarding the report or its customization. Our team will ensure that the report is best suited to your needs.
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