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Chicago, Aug. 07, 2023 (GLOBE NEWSWIRE) — The Aircraft Engine Market by Type (Turboprop, Turbofan, Turboshaft, Piston Engine), Platform (Fixed wing, Rotary Wing, UAV), Component(Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel System), Technology, and Global Growth Driver and Industry“, Increasing commercial aircraft operations are most likely to drive the growth of aircraft engines in the future. Major countries in Asia Pacific, North America, and Europe are seeing a rise in military operations, which increases the demand for aircraft engines in military aircraft. Also, replacement services will also be a factor in driving the Aircraft Engine Industry. These engines will also emerge useful in UAVs.
Aircraft Engine Industry Report Scope:
| Report Metric | Details |
| Estimated Market Size | USD 60.8 Billion |
| Projected Market Size | USD 93 Billion |
| Growth Rate | CAGR of 8.9% |
| Market size available for years | 2021–2026 |
| On Demand Data Available | 2030 |
Key Market Players in Aircraft Engine Market
- Safran SA (France),
- General Electric Company (US),
- Rolls Royce (UK),
- Honeywell International Inc (US)
- MTU Aero Engine (Germany)
Aircraft Engine Industry Dynamics
Aircraft Engine Market Driver: Rising Demand for Fuel-Efficient Aircraft Engines
Airlines are looking forward to aircraft engines that provide greater fuel efficiency. Some emissions caused due to aviation, such as nitrous oxide, can be reduced by engines with greater fuel efficiency. Aircraft size also contributes to the factor of fuel consumption as the bigger the aircraft higher will be the fuel consumption. Therefore, aircraft manufacturers such as Airbus and Boeing tried to produce aircraft structures that are as fuel-efficient as possible. However, many airlines are still finding smaller body aircraft more fuel-efficient.
Hence, aircraft with smaller twin-engine widebodies like Boeing 787 and Airbus A350 are considered to be more fuel-efficient. As a result, their demand is rising across…
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