Aircraft Engines Market by Type (Turboprop, Turbofan, Turboshaft, Piston Engine), Application (Military Aviation, Commercial Aviation, General Aviation), Platform (Fixed Wing, Rotary Wing), and Region - Global Forecast to 2022
“Growing number of aircraft deliveries is one of the key factors expected to drive the aircraft engines market.”
The aircraft engines market is projected to grow from an estimated USD 68.05 billion in 2017 to USD 92.38 billion by 2022, at a CAGR of 5.23% during the forecast period. The aircraft engines market is mainly driven by the increase in aircraft orders and fuel efficiency of new aircraft engines. However, existing backlogs in aircraft deliveries are restraining the growth of the aircraft engines market.
“The turbofan segment is estimated to be the largest application segment of the market in 2017.”
The aircraft engines market has been segmented based on engine type into turboprop, turbofan, turboshaft, and piston engine. Among these, the turbofan segment is estimated to be the largest in 2017. Most of the new airlines are installing new, fuel-efficient and lightweight turbofan engines. Thus, the turbofan segment is estimated to be largest application segment of the aircraft engines market.
“The commercial segment is estimated to be the largest application segment of the market in 2017.”
Based on application, the commercial segment is estimated to account for the largest share of the aircraft engines market in 2017. The rising number of commercial aircraft deliveries is projected to drive the aircraft engines market.
“Asia-Pacific region is projected to be the fastest-growing aircraft engines market during the forecast period.”
Asia-Pacific is projected to be the fastest-growing aircraft engines market during the forecast period Countries considered in this region are China, India, Russia, and Japan, among others. The aviation industry in the Asia-Pacific region has witnessed considerable growth over the past few years, owing to an increase in the aircraft manufacturing in this region by countries such as China and Japan. Thus, the Asia-Pacific region is projected to be the fastest-growing market for aircraft engines due to the growth of the region’s aviation industry, which is supported by the increasing air passenger traffic.
Break-up of profile of primary participants in the aircraft engines market:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C level – 35%, Director level – 25%, Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the report include General Electric Aviation (U.S.), United Technologies Corporation (U.S.), Safran SA (France), and Rolls Royce Holdings PLC (U.K.), among others.
This research report categorizes the aircraft engines market based on engine type (turboprop, turbofan, turboshaft, and piston), application (commercial, military, and general aviation), and platform (fixed wing and rotary wing); and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Reasons to Buy This Report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information about aircraft engines offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft engines market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for aircraft engines across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft engines market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aircraft engines market