Aircraft Engine Market Research Report

 

Growth opportunities in the global Aircraft Engine market look promising over the next six years. The growth in aircraft orders & deliveries, a rising number of low-cost carriers as well as increased demand for fuel-efficient engines across the world are the key factors driving the growth of the global aircraft engine market.

An aircraft engine, also known as an aero engine, is the power component of an aircraft propulsion system. Majorly aircraft engines are either piston engines or gas turbines, although, many small UAVs have used electric motors in recent years. In an aircraft engine, the air is drawn in at the front through an inlet, mixed with fuel and combusted, compressed by a fan, and then fired out as a hot, fast-moving exhaust at the back, which boosts the airplane forward.

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The global aircraft engine market is witnessing strong growth in the market during the forecast period due to an increase in aircraft orders & deliveries, a rising number of low-cost carriers, and an upsurge in demand for fuel-efficient engines across the world. Moreover, new aircraft manufactures are cropping up in Asia-Pacific and Latin America, which will further propel the growth of the aircraft engines market in the upcoming years. The growing need for comfortable and less time taking travel of passengers and transportation of goods are some other factors surging the aircraft engines market growth. The use in the military sector for countering terrorism, drug trafficking, illegal infiltration, and others also fuels the growth of the aircraft engine market share in terms of revenue.

The growing issue of decreasing carbon footprint has changed the focus on the development of electric or hybrid engines, which will bolster the growth of the market. On the other hand, existing backlogs in aircraft deliveries will hamper the growth of the market. The emergence of the COVID-19 has been adversely impacted the aviation industry in various countries worldwide. Airliners worldwide are suffering from the financial crisis and are cutting capacity at incomparable rates owing to the lack of passenger demand.

Key Players of the Global Aircraft Engine Market:

·        General Electric Co.

·        CFM International SA

·        Rolls-Royce Holdings PLC.

·        United Technologies Corporation

·        International Aero Engines AG

·        Safran SA

·        Honeywell International Inc.

·        Engine Alliance LLC

·        Textron Inc.

·        MTU Aero Engines AG

Market Segmentation:

Global Aircraft Engine Market Report Segment by Type:

·        Turboprop

·        Turbofan

·        Turboshaft

·        Piston Engine

Global Aircraft Engine Market Report Segment by Application:

·        Military

·        Aviation

·        Commercial Aviation

·        General Aviation

Global Aircraft Engine Market Report Segment by Platform:

·        Fixed Wing

·        Rotary Wing

Global Aircraft Engine Market Report Segment by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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