Aircraft Propulsion System Market
Description
An aircraft propulsion system refers to the mechanism that is responsible for powering an aircraft by creating forward motion and through the interaction of mechanical, thermodynamic, or electric processes. Aircraft propulsion system includes technologies such as piston engines, jet engines, or electric motors to meet the thrust requirements for different types of flight.
The aircraft propulsion system market is governed by factors such as growing advancement in the electric and hybrid aircrafts, increase in air travel, and growing orders of new aircraft from developing countries. However, stringent government regulations and high maintenance cost hinder the growth of the market. Furthermore, modernization of military aircrafts, and increase in sales of personal aircrafts are expected to provide lucrative growth opportunities for the aircraft propulsion system market during the forecast period.
The aircraft propulsion system market is segmented into engine type, aircraft type, end user, and region. By engine type, the market is segmented into gas turbine engines, electric/hybrid propulsion, rocket propulsion, and piston engines. By aircraft type, the market is divided into piston airplane, turboprop airplane, and business jet. Based on end user, the market is segmented into commercial , military, and general. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Advancement in aviation technology, changing consumer preferences, and rise in demand for convenience increase the sales of personal aircrafts. The growing technological advancement on light jets, turboprops, and single-engine aircrafts now offer increased fuel efficiency and reduced maintenance costs, which is driving up the sales of personal aircrafts. Moreover, growing number of billonaires in Asia-Pacific and middle east regions is expectd to drive the growth of the market.
According to a report published by the Air Charter Association, the pre-owned private jet market experienced highest record in 2022 with growth driven by the return of corporate clients and continued growth in Asia-Pacific and Middle East markets. The company also stated that pre-owned business jets has seen strong growth in sales over the last two years due to increase in demand and supply chain issues at major aircraft manufacturers. According to the report. sales of private aircrafts is expected to rise in 2024, owing to strong economic growth in developing countries.
Additionally, the growth in air travel and fleet modernization program in the developing countries has resulted in increased demand for new aircrafts. The demand for new aircrafts is particularly driven by economic growth, expanding middle-class populations, and growing focus on improving regional and international connectivity. Similarly, governments in developing countries are also focusing on developing new airport and modernization of older airports, which can handle more flights. Rise in demand for new aircrafts is driving the growth of the aircraft propulsion system market.
For instance, on December 9, 2024, Air India announced its agreement with Airbus SE for the orders of 10 A350 widebody, and 90 A320 narrowbody family of newer aircraft to be added to its fleet. Also, in 2023, Air India announced the order of 470 aircraft, out of which 250 were with Airbus SE. The latest order is expected to increase the total number of aircraft that Air India ordered from Airbus SE in 2023 from 250 aircraft to 350 currently. Air India has also announced that it has done an agreement with Airbus SE for services and component to support the maintenance requirements of its growing A350 fleet.
The key companies profiled in the report include Rolls-Royce Holdings plc., General Electric Company, Pratt & Whitney, Hanwha Group, Kawasaki Heavy Industries, Ltd., CFM International, Safran SA, Honeywell International Inc., MTU Aero Engines AG, Busek Co. Inc, Northrop Grumman, 3W International GmbH, Lockheed Martin Corporation., Williams International, and IHI AEROSPACE Co., Ltd.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aircraft propulsion system market analysis from 2023 to 2033 to identify the prevailing aircraft propulsion system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the aircraft propulsion system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global aircraft propulsion system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Engine Type
Gas Turbine Engines
Electric/Hybrid Propulsion
Rocket Propulsion
Piston Engines
By Aircraft Type
Piston airplane
Turboprop airplane
Business jet
By End User
Commercial
Military
General
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Lockheed Martin Corporation.
Pratt & Whitney
CFM International
MTU Aero Engines AG
Northrop Grumman
Williams International
General Electric Company
Safran
Rolls-Royce Holdings plc.
3W Modellmotoren
IHI AEROSPACE Co., Ltd.
Kawasaki Heavy Industries, Ltd. The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
The aircraft propulsion system market is governed by factors such as growing advancement in the electric and hybrid aircrafts, increase in air travel, and growing orders of new aircraft from developing countries. However, stringent government regulations and high maintenance cost hinder the growth of the market. Furthermore, modernization of military aircrafts, and increase in sales of personal aircrafts are expected to provide lucrative growth opportunities for the aircraft propulsion system market during the forecast period.
The aircraft propulsion system market is segmented into engine type, aircraft type, end user, and region. By engine type, the market is segmented into gas turbine engines, electric/hybrid propulsion, rocket propulsion, and piston engines. By aircraft type, the market is divided into piston airplane, turboprop airplane, and business jet. Based on end user, the market is segmented into commercial , military, and general. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Advancement in aviation technology, changing consumer preferences, and rise in demand for convenience increase the sales of personal aircrafts. The growing technological advancement on light jets, turboprops, and single-engine aircrafts now offer increased fuel efficiency and reduced maintenance costs, which is driving up the sales of personal aircrafts. Moreover, growing number of billonaires in Asia-Pacific and middle east regions is expectd to drive the growth of the market.
According to a report published by the Air Charter Association, the pre-owned private jet market experienced highest record in 2022 with growth driven by the return of corporate clients and continued growth in Asia-Pacific and Middle East markets. The company also stated that pre-owned business jets has seen strong growth in sales over the last two years due to increase in demand and supply chain issues at major aircraft manufacturers. According to the report. sales of private aircrafts is expected to rise in 2024, owing to strong economic growth in developing countries.
Additionally, the growth in air travel and fleet modernization program in the developing countries has resulted in increased demand for new aircrafts. The demand for new aircrafts is particularly driven by economic growth, expanding middle-class populations, and growing focus on improving regional and international connectivity. Similarly, governments in developing countries are also focusing on developing new airport and modernization of older airports, which can handle more flights. Rise in demand for new aircrafts is driving the growth of the aircraft propulsion system market.
For instance, on December 9, 2024, Air India announced its agreement with Airbus SE for the orders of 10 A350 widebody, and 90 A320 narrowbody family of newer aircraft to be added to its fleet. Also, in 2023, Air India announced the order of 470 aircraft, out of which 250 were with Airbus SE. The latest order is expected to increase the total number of aircraft that Air India ordered from Airbus SE in 2023 from 250 aircraft to 350 currently. Air India has also announced that it has done an agreement with Airbus SE for services and component to support the maintenance requirements of its growing A350 fleet.
The key companies profiled in the report include Rolls-Royce Holdings plc., General Electric Company, Pratt & Whitney, Hanwha Group, Kawasaki Heavy Industries, Ltd., CFM International, Safran SA, Honeywell International Inc., MTU Aero Engines AG, Busek Co. Inc, Northrop Grumman, 3W International GmbH, Lockheed Martin Corporation., Williams International, and IHI AEROSPACE Co., Ltd.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aircraft propulsion system market analysis from 2023 to 2033 to identify the prevailing aircraft propulsion system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the aircraft propulsion system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global aircraft propulsion system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Engine Type
Gas Turbine Engines
Electric/Hybrid Propulsion
Rocket Propulsion
Piston Engines
By Aircraft Type
Piston airplane
Turboprop airplane
Business jet
By End User
Commercial
Military
General
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Lockheed Martin Corporation.
Pratt & Whitney
CFM International
MTU Aero Engines AG
Northrop Grumman
Williams International
General Electric Company
Safran
Rolls-Royce Holdings plc.
3W Modellmotoren
IHI AEROSPACE Co., Ltd.
Kawasaki Heavy Industries, Ltd. The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
280 Pages
- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.3.1. Moderate to high bargaining power of suppliers
- 3.3.2. Low to high threat of new entrants
- 3.3.3. Low to high threat of substitutes
- 3.3.4. Moderate to high intensity of rivalry
- 3.3.5. Moderate to high bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Growing advancement in the electric and hybrid aircrafts
- 3.4.1.2. Increase in air travel
- 3.4.1.3. Growing orders of new aircraft from developing countries
- 3.4.2. Restraints
- 3.4.2.1. Stringent government regulations
- 3.4.2.2. High maintenance cost
- 3.4.3. Opportunities
- 3.4.3.1. Modernization of military aircrafts
- 3.4.3.2. Increase in sales of personal aircrafts
- CHAPTER 4: AIRCRAFT PROPULSION SYSTEM MARKET, BY ENGINE TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Gas Turbine Engines
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Electric/Hybrid Propulsion
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Rocket Propulsion
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Piston Engines
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
- CHAPTER 5: AIRCRAFT PROPULSION SYSTEM MARKET, BY AIRCRAFT TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Piston airplane
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Turboprop airplane
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Business jet
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- CHAPTER 6: AIRCRAFT PROPULSION SYSTEM MARKET, BY END USER
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Commercial
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Military
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. General
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- CHAPTER 7: AIRCRAFT PROPULSION SYSTEM MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Engine Type
- 7.2.3. Market size and forecast, by Aircraft Type
- 7.2.4. Market size and forecast, by End User
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Engine Type
- 7.2.5.1.2. Market size and forecast, by Aircraft Type
- 7.2.5.1.3. Market size and forecast, by End User
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Engine Type
- 7.2.5.2.2. Market size and forecast, by Aircraft Type
- 7.2.5.2.3. Market size and forecast, by End User
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Engine Type
- 7.2.5.3.2. Market size and forecast, by Aircraft Type
- 7.2.5.3.3. Market size and forecast, by End User
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Engine Type
- 7.3.3. Market size and forecast, by Aircraft Type
- 7.3.4. Market size and forecast, by End User
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by Engine Type
- 7.3.5.1.2. Market size and forecast, by Aircraft Type
- 7.3.5.1.3. Market size and forecast, by End User
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Engine Type
- 7.3.5.2.2. Market size and forecast, by Aircraft Type
- 7.3.5.2.3. Market size and forecast, by End User
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Engine Type
- 7.3.5.3.2. Market size and forecast, by Aircraft Type
- 7.3.5.3.3. Market size and forecast, by End User
- 7.3.5.4. Italy
- 7.3.5.4.1. Market size and forecast, by Engine Type
- 7.3.5.4.2. Market size and forecast, by Aircraft Type
- 7.3.5.4.3. Market size and forecast, by End User
- 7.3.5.5. Spain
- 7.3.5.5.1. Market size and forecast, by Engine Type
- 7.3.5.5.2. Market size and forecast, by Aircraft Type
- 7.3.5.5.3. Market size and forecast, by End User
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Market size and forecast, by Engine Type
- 7.3.5.6.2. Market size and forecast, by Aircraft Type
- 7.3.5.6.3. Market size and forecast, by End User
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Engine Type
- 7.4.3. Market size and forecast, by Aircraft Type
- 7.4.4. Market size and forecast, by End User
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Engine Type
- 7.4.5.1.2. Market size and forecast, by Aircraft Type
- 7.4.5.1.3. Market size and forecast, by End User
- 7.4.5.2. Japan
- 7.4.5.2.1. Market size and forecast, by Engine Type
- 7.4.5.2.2. Market size and forecast, by Aircraft Type
- 7.4.5.2.3. Market size and forecast, by End User
- 7.4.5.3. India
- 7.4.5.3.1. Market size and forecast, by Engine Type
- 7.4.5.3.2. Market size and forecast, by Aircraft Type
- 7.4.5.3.3. Market size and forecast, by End User
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by Engine Type
- 7.4.5.4.2. Market size and forecast, by Aircraft Type
- 7.4.5.4.3. Market size and forecast, by End User
- 7.4.5.5. Australia
- 7.4.5.5.1. Market size and forecast, by Engine Type
- 7.4.5.5.2. Market size and forecast, by Aircraft Type
- 7.4.5.5.3. Market size and forecast, by End User
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Market size and forecast, by Engine Type
- 7.4.5.6.2. Market size and forecast, by Aircraft Type
- 7.4.5.6.3. Market size and forecast, by End User
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Engine Type
- 7.5.3. Market size and forecast, by Aircraft Type
- 7.5.4. Market size and forecast, by End User
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Market size and forecast, by Engine Type
- 7.5.5.1.2. Market size and forecast, by Aircraft Type
- 7.5.5.1.3. Market size and forecast, by End User
- 7.5.5.2. Middle East
- 7.5.5.2.1. Market size and forecast, by Engine Type
- 7.5.5.2.2. Market size and forecast, by Aircraft Type
- 7.5.5.2.3. Market size and forecast, by End User
- 7.5.5.3. Africa
- 7.5.5.3.1. Market size and forecast, by Engine Type
- 7.5.5.3.2. Market size and forecast, by Aircraft Type
- 7.5.5.3.3. Market size and forecast, by End User
- CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2023
- CHAPTER 9: COMPANY PROFILES
- 9.1. Rolls-Royce Holdings plc.
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.2. General Electric Company
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Pratt & Whitney
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
- 9.4. Kawasaki Heavy Industries, Ltd.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
- 9.5. CFM International
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.6. Safran
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.7. MTU Aero Engines AG
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.8. Northrop Grumman
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. 3W Modellmotoren
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.10. Lockheed Martin Corporation.
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.11. Williams International
- 9.11.1. Company overview
- 9.11.2. Key executives
- 9.11.3. Company snapshot
- 9.11.4. Operating business segments
- 9.11.5. Product portfolio
- 9.12. IHI AEROSPACE Co., Ltd.
- 9.12.1. Company overview
- 9.12.2. Key executives
- 9.12.3. Company snapshot
- 9.12.4. Operating business segments
- 9.12.5. Product portfolio
- 9.12.6. Business performance
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