The global aircraft engine market will be driven by increasing technological advancements to improve fuel efficiency during the forecast period 2021-2026
The new Market Research Expert Report titled “Global Aircraft Engine Market Report and Forecast 2021-2026 ‘, gives an in-depth analysis of the global aircraft engines market, assessing the market on the basis of its segments such as engine type, aircraft type, wing type and major regions. The report follows the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, and analyzes the market based on Porter’s SWOT and Five Forces models.
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The main highlights of the report include:
Market Overview (2016-2026):
- Historical market size (2020): USD 80.6 billion (commercial aircraft engine demand)
- Forecast market size (2026): $ 85.2 billion (commercial aircraft engine demand)
The demand for more comfortable and shorter transport of passengers and goods is the driving force behind the growth of this industry. The military’s use of aircraft engines to combat terrorism, illegal infiltration, drug trafficking and other threats is also a major driver of aircraft engine activity. However, the high costs of manufacturing and maintenance, as well as the lack of production facilities, limit the expansion of the market.
Definition of the industry and main segments
In the aviation propulsion system, aircraft engines are the primary generators of energy. By sucking air through an inlet, compressing it, combining it with fuel and burning it, they provide mechanical power and lift. The rocket is propelled by the hot, rapid gas ejected from the exhaust. Manufacturers are constantly making technological breakthroughs to increase energy efficiency and performance in response to growing global demand and growing environmental concerns.
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On the basis of engine type, the market is segmented into:
- Turbo tree
- Piston engine
Depending on the type of wing, the market is divided into:
The industry, based on the type of aircraft, is classified into:
Based on regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
4 Latin America
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
An aircraft engine is a component of the aircraft’s propulsion system that generates mechanical energy. Air is drawn in from the front by an air intake, compressed by a fan, combined with fuel and burned, then expelled out the rear as a hot, rapid exhaust, propelling the aircraft forward. . The demand for more comfortable and shorter transport of passengers and goods is the driving force behind the growth of this industry. The military’s use of aircraft engines to combat terrorism, illegal infiltration, drug trafficking and other threats is also a major driver of aircraft engine activity. However, the high costs of manufacturing and maintenance, as well as the lack of production facilities, limit the expansion of the market. New generation passenger planes can fly longer distances thanks to technological developments. While airlines want to buy such planes for their fleets, players are focusing on improving the energy efficiency of passenger planes while extending their range. With a clear view of regional and global passenger air traffic figures in the past, some airlines have already placed orders for aircraft in recent years to increase their fleet size and tailor their services to more passengers. . Due to the growing demand for domestic air travel in developing economies, the Asia-Pacific region is expected to grow the most during the forecast period. Due to a sharp decline in passenger travel, the COVID-19 pandemic has had a significant impact on airline revenues in the region.
Key market players
The main players in the market are Honeywell International Inc., the Safran group, General Electric Company, Rolls-Royce plc, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analyzes on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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