Aircraft Turbofan Engine Market Forecasts to 2032 – Global Analysis By Technology Type (Conventional Turbofans, Geared Turbofans, Open Rotor / Unducted Fans, and Adaptive Cycle Engines), Bypass Ratio (High Bypass Ratio, Medium Bypass Ratio, and Low Bypass
Description
According to Stratistics MRC, the Global Aircraft Turbofan Engine Market is accounted for $89.3 billion in 2025 and is expected to reach $157.0 billion by 2032, growing at a CAGR of 8.4% during the forecast period. The turbofan engine market for aircraft includes engines used in commercial and military jet aircraft, along with design, manufacturing, and maintenance services. It supports narrow-body, wide-body, and business jet segments. Growth is driven by rising air passenger traffic, fleet modernization, fuel efficiency requirements, airline demand for lower operating expenses, and strong aftermarket services for engine maintenance, repair, and overhaul over long aircraft lifecycles.
Market Dynamics:
Driver:
Fleet renewal demand for more fuel-efficient and quieter next-generation aircraft
Fleet renewal programs are accelerating as carriers replace aging, fuel-heavy aircraft with modern platforms featuring advanced propulsion systems. These next-generation engines utilize innovative materials and aerodynamic designs to achieve significantly lower fuel consumption and reduced noise emissions. Moreover, the economic benefit of lower fuel expenditures provides a compelling financial incentive for this transition. Consequently, the demand for high-efficiency turbofans continues to rise as operators align their fleets with global net-zero aviation targets.
Restraint:
Extremely high R&D and certification costs for new engine programs
The process of developing a new turbofan engine necessitates a substantial capital commitment, frequently taking more than ten years to yield any commercial returns. These programs face immense financial hurdles due to the intricate engineering involved and the necessity of rigorous testing phases. Furthermore, stringent safety and environmental certification processes mandated by global aviation authorities add layers of complexity and cost. These high barriers to entry often restrict market participation to a few established players with substantial financial resources.
Opportunity:
Advancements in propulsion technologies
Research into hybrid-electric systems, open-rotor designs, and the integration of Sustainable Aviation Fuels (SAF) is opening new doors for market expansion. Additionally, the adoption of additive manufacturing and digital twin technology allows for more precise engineering and reduced maintenance requirements. These innovations improve performance and cater to the growing demand for regional and short-haul eco-friendly travel. Furthermore, the development of ultra-high bypass ratios promises even greater gains in thermal efficiency and thrust-to-weight performance for future aircraft.
Threat:
Geopolitical issues affecting supply chains and airline fleet planning
Trade disputes and localized conflicts can disrupt the flow of specialized components, causing production bottlenecks for major engine OEMs. Moreover, shifting political alliances and sanctions may force airlines to reconsider their long-term fleet acquisition strategies, leading to canceled or deferred orders. Additionally, sudden changes in international flight regulations or airspace restrictions can alter the demand for specific aircraft types. The volatility of global energy markets, influenced by geopolitical tensions, remains a constant risk for airline operational planning.
Covid-19 Impact:
The COVID-19 pandemic induced an unprecedented contraction in global air travel, leading to a sharp decline in the demand for new turbofan engines. Airlines grounded their fleets to preserve liquidity, deferred maintenance schedules, and significantly delayed or canceled orders for new aircraft. This disruption rippled through the supply chain, forcing manufacturers to adjust production rates and scale back research initiatives. Additionally, the industry saw a temporary shift in focus toward cargo and freighter operations to offset the massive loss in passenger revenue.
The conventional turbofans segment is expected to be the largest during the forecast period
The conventional turbofans segment is expected to account for the largest market share during the forecast period. The massive existing fleet of narrow-body and wide-body aircraft, which rely on proven, reliable turbofan technology, primarily contributes to this dominance. Established MRO infrastructures and standardized maintenance protocols further solidify the position of conventional engines. Additionally, continuous incremental improvements in core engine efficiency ensure that conventional turbofans remain the industry's primary workhorse for the foreseeable future.
The high bypass ratio segment is expected to have the highest CAGR during the forecast period
The high bypass ratio segment is expected to have the highest CAGR during the forecast period. Over the forecast period, the high bypass ratio segment is predicted to witness the highest growth rate. The industry's urgent need for engines that offer superior fuel economy and lower noise levels drives this rapid expansion. High bypass designs move a larger volume of air around the engine core, which significantly increases propulsive efficiency compared to older models. Furthermore, new environmental mandates are making high bypass engines the standard for all upcoming commercial aircraft programs.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share. Major aerospace giants like Boeing and major engine manufacturers like GE Aerospace and Pratt & Whitney support this leading position. The region benefits from a highly mature aviation market with a vast domestic flight network and a strong emphasis on military aviation modernization. Moreover, North American airlines are among the most proactive in retiring older fleets in favor of new, efficient technology. Additionally, a robust ecosystem for research, development, and engine maintenance services ensures that the region remains a central hub for the global turbofan engine market.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. The region's growth is fueled by a massive surge in air passenger traffic and the rapid expansion of middle-class populations in emerging economies like China and India. This increased demand for travel is compelling local carriers to place record-breaking orders for new-generation aircraft. Furthermore, government initiatives to develop domestic aerospace manufacturing capabilities are providing a significant boost to the regional market. Additionally, the expansion of low-cost carriers (LCCs) across the region is driving a continuous need for narrow-body aircraft engines.
Key players in the market
Some of the key players in Aircraft Turbofan Engine Market include GE Aerospace, Pratt & Whitney, Rolls-Royce plc, Safran Aircraft Engines, MTU Aero Engines AG, IHI Corporation, Aero Engine Corporation of China (AECC), United Engine Corporation (UEC), NPO Saturn, Williams International, Honeywell International Inc., Kawasaki Heavy Industries, Ltd., Motor Sich, JSC, and PBS Velká Bíteš.
Key Developments:
In January 2026, Rolls-Royce completed Phase 1 testing of the UltraFan demonstrator, achieving >85,000 lbs thrust and confirming scalability for future widebody and narrowbody aircraft.
In December 2025, Safran and Pegasus Airlines finalized an agreement for CFM LEAP-1B engines to power Boeing 737-10 aircraft, strengthening Safran’s turbofan portfolio.
In September 2025, Honeywell unveiled the HON1600 (SkyShot 1600) turbofan engine for unmanned and collaborative combat aircraft, targeting next-gen military platforms.
Technology Types Covered:
• Conventional Turbofans
• Geared Turbofans
• Open Rotor / Unducted Fans
• Adaptive Cycle Engines
Bypass Ratios Covered:
• High Bypass Ratio
• Medium Bypass Ratio
• Low Bypass Ratio
Aircraft Types Covered:
• Narrow-body Aircraft
• Wide-body Aircraft
• Regional Jets
• Business Jets
• Military Aircraft
Components Covered:
• Fan & Fan Case
• Compressors
• Combustors
• Turbines
• Nozzles & Exhaust Systems
• Accessory Gearboxes & FADEC Systems
Thrust Classes Covered:
• Less than 20,000 lbf
• 20,000 – 50,000 lbf
• 50,000 – 100,000 lbf
• Greater than 100,000 lbf
Point of Sales Covered:
• OEM (Original Equipment Manufacturer)
• Aftermarket
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Market Dynamics:
Driver:
Fleet renewal demand for more fuel-efficient and quieter next-generation aircraft
Fleet renewal programs are accelerating as carriers replace aging, fuel-heavy aircraft with modern platforms featuring advanced propulsion systems. These next-generation engines utilize innovative materials and aerodynamic designs to achieve significantly lower fuel consumption and reduced noise emissions. Moreover, the economic benefit of lower fuel expenditures provides a compelling financial incentive for this transition. Consequently, the demand for high-efficiency turbofans continues to rise as operators align their fleets with global net-zero aviation targets.
Restraint:
Extremely high R&D and certification costs for new engine programs
The process of developing a new turbofan engine necessitates a substantial capital commitment, frequently taking more than ten years to yield any commercial returns. These programs face immense financial hurdles due to the intricate engineering involved and the necessity of rigorous testing phases. Furthermore, stringent safety and environmental certification processes mandated by global aviation authorities add layers of complexity and cost. These high barriers to entry often restrict market participation to a few established players with substantial financial resources.
Opportunity:
Advancements in propulsion technologies
Research into hybrid-electric systems, open-rotor designs, and the integration of Sustainable Aviation Fuels (SAF) is opening new doors for market expansion. Additionally, the adoption of additive manufacturing and digital twin technology allows for more precise engineering and reduced maintenance requirements. These innovations improve performance and cater to the growing demand for regional and short-haul eco-friendly travel. Furthermore, the development of ultra-high bypass ratios promises even greater gains in thermal efficiency and thrust-to-weight performance for future aircraft.
Threat:
Geopolitical issues affecting supply chains and airline fleet planning
Trade disputes and localized conflicts can disrupt the flow of specialized components, causing production bottlenecks for major engine OEMs. Moreover, shifting political alliances and sanctions may force airlines to reconsider their long-term fleet acquisition strategies, leading to canceled or deferred orders. Additionally, sudden changes in international flight regulations or airspace restrictions can alter the demand for specific aircraft types. The volatility of global energy markets, influenced by geopolitical tensions, remains a constant risk for airline operational planning.
Covid-19 Impact:
The COVID-19 pandemic induced an unprecedented contraction in global air travel, leading to a sharp decline in the demand for new turbofan engines. Airlines grounded their fleets to preserve liquidity, deferred maintenance schedules, and significantly delayed or canceled orders for new aircraft. This disruption rippled through the supply chain, forcing manufacturers to adjust production rates and scale back research initiatives. Additionally, the industry saw a temporary shift in focus toward cargo and freighter operations to offset the massive loss in passenger revenue.
The conventional turbofans segment is expected to be the largest during the forecast period
The conventional turbofans segment is expected to account for the largest market share during the forecast period. The massive existing fleet of narrow-body and wide-body aircraft, which rely on proven, reliable turbofan technology, primarily contributes to this dominance. Established MRO infrastructures and standardized maintenance protocols further solidify the position of conventional engines. Additionally, continuous incremental improvements in core engine efficiency ensure that conventional turbofans remain the industry's primary workhorse for the foreseeable future.
The high bypass ratio segment is expected to have the highest CAGR during the forecast period
The high bypass ratio segment is expected to have the highest CAGR during the forecast period. Over the forecast period, the high bypass ratio segment is predicted to witness the highest growth rate. The industry's urgent need for engines that offer superior fuel economy and lower noise levels drives this rapid expansion. High bypass designs move a larger volume of air around the engine core, which significantly increases propulsive efficiency compared to older models. Furthermore, new environmental mandates are making high bypass engines the standard for all upcoming commercial aircraft programs.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share. Major aerospace giants like Boeing and major engine manufacturers like GE Aerospace and Pratt & Whitney support this leading position. The region benefits from a highly mature aviation market with a vast domestic flight network and a strong emphasis on military aviation modernization. Moreover, North American airlines are among the most proactive in retiring older fleets in favor of new, efficient technology. Additionally, a robust ecosystem for research, development, and engine maintenance services ensures that the region remains a central hub for the global turbofan engine market.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. The region's growth is fueled by a massive surge in air passenger traffic and the rapid expansion of middle-class populations in emerging economies like China and India. This increased demand for travel is compelling local carriers to place record-breaking orders for new-generation aircraft. Furthermore, government initiatives to develop domestic aerospace manufacturing capabilities are providing a significant boost to the regional market. Additionally, the expansion of low-cost carriers (LCCs) across the region is driving a continuous need for narrow-body aircraft engines.
Key players in the market
Some of the key players in Aircraft Turbofan Engine Market include GE Aerospace, Pratt & Whitney, Rolls-Royce plc, Safran Aircraft Engines, MTU Aero Engines AG, IHI Corporation, Aero Engine Corporation of China (AECC), United Engine Corporation (UEC), NPO Saturn, Williams International, Honeywell International Inc., Kawasaki Heavy Industries, Ltd., Motor Sich, JSC, and PBS Velká Bíteš.
Key Developments:
In January 2026, Rolls-Royce completed Phase 1 testing of the UltraFan demonstrator, achieving >85,000 lbs thrust and confirming scalability for future widebody and narrowbody aircraft.
In December 2025, Safran and Pegasus Airlines finalized an agreement for CFM LEAP-1B engines to power Boeing 737-10 aircraft, strengthening Safran’s turbofan portfolio.
In September 2025, Honeywell unveiled the HON1600 (SkyShot 1600) turbofan engine for unmanned and collaborative combat aircraft, targeting next-gen military platforms.
Technology Types Covered:
• Conventional Turbofans
• Geared Turbofans
• Open Rotor / Unducted Fans
• Adaptive Cycle Engines
Bypass Ratios Covered:
• High Bypass Ratio
• Medium Bypass Ratio
• Low Bypass Ratio
Aircraft Types Covered:
• Narrow-body Aircraft
• Wide-body Aircraft
• Regional Jets
• Business Jets
• Military Aircraft
Components Covered:
• Fan & Fan Case
• Compressors
• Combustors
• Turbines
• Nozzles & Exhaust Systems
• Accessory Gearboxes & FADEC Systems
Thrust Classes Covered:
• Less than 20,000 lbf
• 20,000 – 50,000 lbf
• 50,000 – 100,000 lbf
• Greater than 100,000 lbf
Point of Sales Covered:
• OEM (Original Equipment Manufacturer)
• Aftermarket
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Table of Contents
200 Pages
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Technology Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Aircraft Turbofan Engine Market, By Technology Type
- 5.1 Introduction
- 5.2 Conventional Turbofans
- 5.3 Geared Turbofans
- 5.4 Open Rotor / Unducted Fans
- 5.5 Adaptive Cycle Engines
- 6 Global Aircraft Turbofan Engine Market, By Bypass Ratio
- 6.1 Introduction
- 6.2 High Bypass Ratio
- 6.3 Medium Bypass Ratio
- 6.4 Low Bypass Ratio
- 7 Global Aircraft Turbofan Engine Market, By Aircraft Type
- 7.1 Introduction
- 7.2 Narrow-body Aircraft
- 7.3 Wide-body Aircraft
- 7.4 Regional Jets
- 7.5 Business Jets
- 7.6 Military Aircraft
- 8 Global Aircraft Turbofan Engine Market, By Component
- 8.1 Introduction
- 8.2 Fan & Fan Case
- 8.3 Compressors
- 8.4 Combustors
- 8.5 Turbines
- 8.6 Nozzles & Exhaust Systems
- 8.7 Accessory Gearboxes & FADEC Systems
- 9 Global Aircraft Turbofan Engine Market, By Thrust Class
- 9.1 Introduction
- 9.2 Less than 20,000 lbf
- 9.3 20,000 – 50,000 lbf
- 9.4 50,000 – 100,000 lbf
- 9.5 Greater than 100,000 lbf
- 10 Global Aircraft Turbofan Engine Market, By Point of Sale
- 10.1 Introduction
- 10.2 OEM (Original Equipment Manufacturer)
- 10.3 Aftermarket
- 11 Global Aircraft Turbofan Engine Market, By Geography
- 11.1 Introduction
- 11.2 North America
- 11.2.1 US
- 11.2.2 Canada
- 11.2.3 Mexico
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 Italy
- 11.3.4 France
- 11.3.5 Spain
- 11.3.6 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 Japan
- 11.4.2 China
- 11.4.3 India
- 11.4.4 Australia
- 11.4.5 New Zealand
- 11.4.6 South Korea
- 11.4.7 Rest of Asia Pacific
- 11.5 South America
- 11.5.1 Argentina
- 11.5.2 Brazil
- 11.5.3 Chile
- 11.5.4 Rest of South America
- 11.6 Middle East & Africa
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 Qatar
- 11.6.4 South Africa
- 11.6.5 Rest of Middle East & Africa
- 12 Key Developments
- 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 12.2 Acquisitions & Mergers
- 12.3 New Product Launch
- 12.4 Expansions
- 12.5 Other Key Strategies
- 13 Company Profiling
- 13.1 GE Aerospace
- 13.2 Pratt & Whitney
- 13.3 Rolls-Royce plc
- 13.4 Safran Aircraft Engines
- 13.5 MTU Aero Engines AG
- 13.6 IHI Corporation
- 13.7 Aero Engine Corporation of China (AECC)
- 13.8 United Engine Corporation (UEC)
- 13.9 NPO Saturn
- 13.10 Williams International
- 13.11 Honeywell International Inc.
- 13.12 Kawasaki Heavy Industries, Ltd.
- 13.13 Motor Sich, JSC
- 13.14 PBS Velka Bites
- List of Tables
- Table 1 Global Aircraft Turbofan Engine Market Outlook, By Region (2024–2032) ($MN)
- Table 2 Global Aircraft Turbofan Engine Market Outlook, By Technology Type (2024–2032) ($MN)
- Table 3 Global Aircraft Turbofan Engine Market Outlook, By Conventional Turbofans (2024–2032) ($MN)
- Table 4 Global Aircraft Turbofan Engine Market Outlook, By Geared Turbofans (2024–2032) ($MN)
- Table 5 Global Aircraft Turbofan Engine Market Outlook, By Open Rotor / Unducted Fans (2024–2032) ($MN)
- Table 6 Global Aircraft Turbofan Engine Market Outlook, By Adaptive Cycle Engines (2024–2032) ($MN)
- Table 7 Global Aircraft Turbofan Engine Market Outlook, By Bypass Ratio (2024–2032) ($MN)
- Table 8 Global Aircraft Turbofan Engine Market Outlook, By High Bypass Ratio (2024–2032) ($MN)
- Table 9 Global Aircraft Turbofan Engine Market Outlook, By Medium Bypass Ratio (2024–2032) ($MN)
- Table 10 Global Aircraft Turbofan Engine Market Outlook, By Low Bypass Ratio (2024–2032) ($MN)
- Table 11 Global Aircraft Turbofan Engine Market Outlook, By Aircraft Type (2024–2032) ($MN)
- Table 12 Global Aircraft Turbofan Engine Market Outlook, By Narrow-body Aircraft (2024–2032) ($MN)
- Table 13 Global Aircraft Turbofan Engine Market Outlook, By Wide-body Aircraft (2024–2032) ($MN)
- Table 14 Global Aircraft Turbofan Engine Market Outlook, By Regional Jets (2024–2032) ($MN)
- Table 15 Global Aircraft Turbofan Engine Market Outlook, By Business Jets (2024–2032) ($MN)
- Table 16 Global Aircraft Turbofan Engine Market Outlook, By Military Aircraft (2024–2032) ($MN)
- Table 17 Global Aircraft Turbofan Engine Market Outlook, By Component (2024–2032) ($MN)
- Table 18 Global Aircraft Turbofan Engine Market Outlook, By Fan & Fan Case (2024–2032) ($MN)
- Table 19 Global Aircraft Turbofan Engine Market Outlook, By Compressors (2024–2032) ($MN)
- Table 20 Global Aircraft Turbofan Engine Market Outlook, By Combustors (2024–2032) ($MN)
- Table 21 Global Aircraft Turbofan Engine Market Outlook, By Turbines (2024–2032) ($MN)
- Table 22 Global Aircraft Turbofan Engine Market Outlook, By Nozzles & Exhaust Systems (2024–2032) ($MN)
- Table 23 Global Aircraft Turbofan Engine Market Outlook, By Accessory Gearboxes & FADEC Systems (2024–2032) ($MN)
- Table 24 Global Aircraft Turbofan Engine Market Outlook, By Thrust Class (2024–2032) ($MN)
- Table 25 Global Aircraft Turbofan Engine Market Outlook, By <20,000 lbf (2024–2032) ($MN)
- Table 26 Global Aircraft Turbofan Engine Market Outlook, By 20,000–50,000 lbf (2024–2032) ($MN)
- Table 27 Global Aircraft Turbofan Engine Market Outlook, By 50,000–100,000 lbf (2024–2032) ($MN)
- Table 28 Global Aircraft Turbofan Engine Market Outlook, By >100,000 lbf (2024–2032) ($MN)
- Table 29 Global Aircraft Turbofan Engine Market Outlook, By Point of Sale (2024–2032) ($MN)
- Table 30 Global Aircraft Turbofan Engine Market Outlook, By OEM (2024–2032) ($MN)
- Table 31 Global Aircraft Turbofan Engine Market Outlook, By Aftermarket (2024–2032) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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