Aircraft Engine Market Key Players, Growth, Share and Forecast Till 2028

According to the most recent analysis by Emergen Research, the global market for aircraft engines reached USD 56.39 billion in 2020 and is projected to grow at a rate of 8.7% over the forecast period. Increased commercial aeroplane operations and rising demand for aircraft engines for unmanned aerial vehicles are two major factors propelling the growth of the worldwide aircraft engine market in terms of revenue (UAVs). Other market-driving drivers include the demand for lighter, more fuel-efficient aircraft and cleaner, greener next-generation engines. In order to create engine models employing cutting-edge technology, composite materials, and additive manufacturing (AM), commonly known as 3D printing, businesses are investing in R&D.

However, during the course of the projection period, worries about aircraft engine durability and rising fuel prices are anticipated to restrain market expansion to some extent. Additionally, growing environmental worries regarding the fuel emissions from aeroplane engines are limiting industry expansion.

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Some Key Highlights from the Report

  • Because of the rising demand for commercial helicopter fleets, the revenue generated by the turboshaft category is anticipated to increase at a very quick CAGR throughout the forecast period.
  • The gearbox segment is anticipated to have significant revenue growth over the course of the projection period as a result of rising R&D spending on gearbox-related projects.
  • Over the course of the projected period, North America is anticipated to represent a comparably greater revenue share than other regional markets. Rising defence spending on single-engine, jet fighter, and military aircraft is a major driver fueling the expansion of this market.
  • Some major companies in the market report include General Electric Company (GE Aviation), Honeywell International Inc., Rolls-Royce Holdings PLC, Safran SA, MTU Aero Engines AG, IAE International Aero Engines AG, Textron Inc., CFM International S.A., United Technologies Corporation, and Raytheon Technologies Corporation

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Emergen Research has segmented the global aircraft engine on the basis of type, platform, component, technology, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

  • Turbofan
  • Turboprop
  • Piston Engine
  • Turboshaft

Platform Outlook (Revenue, USD Billion; 2018–2028)

  • Unmanned Aerial Vehicles
  • Fixed Wing Aircraft
  • Rotary Wing Aircraft

Component Outlook (Revenue, USD Billion; 2018–2028)

  • Turbine
  • Compressor
  • Gearbox
  • Fuel System
  • Exhaust System
  • Others

Technology Outlook (Revenue, USD Billion; 2018–2028)

  • Conventional
  • Hybrid

End-Use Outlook (Revenue, USD Billion; 2018–2028)

  • OEM
  • Aftermarket

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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