Aircraft Engines Market By Engine Type (Piston and Turboprop Engine, Turbojet Engine, Turboshaft Engine, Turbofan Engine), By Component (Fan, Compressor, Combustor, Turbine, Mixer, Nozzle), By End Use (Commercial Aviation, Military Aviation), By Platform (Fixed Wing, Rotary Wing): Global Opportunity Analysis and Industry Forecast, 2021-2031
Aircraft engine refers to the component of an aircraft that offers thrust to an aircraft during taxing or the course of flight. The major components of an aircraft engine encompass fan, compressor, combustor, turbine, mixer, and nozzle. Each component plays a crucial role in aircraft engine. The fan ensures required air intake for an aircraft engine, followed by compressor, which compresses the inlet air and rise the temperature & pressure. The jet fuel is introduced in the combustion chamber along with the compressed air. The reaction rotates the turbine that powers the aircraft. The reaction generated exhaust air which is then followed to mixer where excessive air from nozzle is introduced to reduce the pressure and temperature of exhaust air. The mixer ensures silent operation of an aircraft engine while maintaining optimal temperature. The nozzle finally releases the exhaust back to atmosphere.
Factors such as increase in passenger traffic across the globe, rise in infrastructure investment, efforts by regional government to develop indigenous manufacturing capacities, and extensive R&D efforts taken by global players to improve operational efficiency of an aircraft engine and reduce overall carbon footprint. The manufacturing and supply chain industry is expected to is expected to play a major role in defining the market consolidation of aircraft engine. With respect to current Russia and Ukraine war, major aircraft engine manufacturers such as Boeing, General Electric, Rolls Royce, and CFM international have withdrawn from the Russian market. These players are actively looking for new raw material suppliers from Africa, Asia-Pacific, or North America regions in effort to reduce their depends from Europe.
The aircraft engine market is segmented on the basis of engine type, component, end use, and platform. By engine type, it is categorized into piston & turboprop engine, turbojet engine, turboshaft engine, and turbofan engine. Depending upon component, the market is fragmented into fan, compressor, combustor, turbine, mixer, and nozzle. By end use, it is divided into commercial and military. The platform segment is bifurcated into fixed wing and rotary wing. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Companies have adopted product development and product launch as their key development strategies in the Aircraft Engine industry. Moreover, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different regions. The key players that operate in the Aircraft Engine market are General Electric, Rolls Royce, Safaran, Honeywell International Inc, Textron, MTU Aero Engines, Raytheon Technologies, IHI Corporation, MHI, and Lycoming Engines among others.
KEY BENEFITS FOR STAKEHOLDERS
This study presents the analytical depiction of the global Aircraft Engine market analysis along with the current trends and future estimations to depict imminent investment pockets.
The overall Aircraft Engine market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global Aircraft Engine market with a detailed impact analysis.
The current Aircraft Engine market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By End Use
Commercial Aviation
Military Aviation
By Platform
Fixed Wing
Rotary Wing
By Engine Type
Piston and Turboprop Engine
Turbojet Engine
Turboshaft Engine
Turbofan Engine
By Component
Fan
Compressor
Combustor
Turbine
Mixer
Nozzle
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
CFM International
Engine Alliance
General Electric
Honeywell International Inc.
IHI Corporation
Lycoming Engines
MITSUBISHI HEAVY INDUSTRIES, LTD
MTU Aero Engines AG
Raytheon Technologies Corporation
Rolls-Royce plc
Safran
Textron Inc
Barnes Group Inc
Euravia Engineering & Supply Co. Ltd.
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