Global Military Aerospace Engine and Engine Parts Market 2015-2019
About Military Aerospace Engine and Engine Parts
Military aircraft are heavy-duty machines that are designed to cope with extreme stresses and are capable of performing breath-taking maneuvers. These military planes are powered by world class engines. There are many types of military aircraft engines, such as turboprops, turbofans, and turbojets. The principal aim of military aircraft engines is to deliver performance and fuel efficiency with reduced noise and emissions.This market has grown significantly because of increased investments by governments in the military sector. Moreover, the new engine LEAP, which is a successor to the CFM56, is being developed by Snecma and GE Aviation. It offers better performance compared to existing engines. It is set to enter the market in 2016 and more than 8,400 orders have already been placed.
Technavio's analysts forecast the global military aerospace engine and engine parts market to grow at a CAGR of 2.36% during the period 2014-2019.
Covered in this Report
This report covers the current scenario and growth prospects of the global military aerospace engine and engine parts market for the period 2015-2019. It provides a global overview and growth prospects by region (Americas, EMEA, and APAC). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
Technavio's report, Global Military Aerospace Engine and Engine Parts Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, EMEA, and APAC. The report also includes a discussion of the keyvendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global Military Aerospace Engine and Engine Parts Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Military Aerospace Engine and Engine Parts Market: CFM International, General Electric, International Aero Engines, Pratt & Whitney and Rolls Royce
Other Prominent Vendors in the market are: Klimov, MTU Aero Engines, SNECMA and Tumansky
Commenting on the report, an analyst from Technavio’s team said: “Formula 1 technology will be installed in military aerospace engines to power the aircraft. The engines are fuel-efficient and the speed of the aircraft will be enhanced considerably by the use of Formula 1 gearbox technology. The governments and the military aerospace industry are willing to invest in this technology for the next-generation aircraft engines. Major research projects have been planned that would use McLaren’s Formula 1 expertise to develop gearboxes for the future military jet engines. The F1 engines are highly interesting pieces of engineering that can produce 780 hp and can run on 20,000 rpm.”
According to the report, many countries are developing their military aerospace structures by manufacturing planes and helicopters. This increase in the number of military planes will eventually result in an increase in the manufacture of specified and upgraded engines.
Further, the report states that the ongoing military programs were severely affected by budget cuts and sequestration in 2011. This had a negative impact on the production and procurement of defense weapons.
CFM International, General Electric, International Aero Engines, Pratt & Whitney, Rolls Royce, Klimov, MTU Aero Engines, SNECMA, Tumansky
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