Aircraft Engine Market Size, Share & Industry Growth Analysis Report – Press Release

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…