Aircraft Engines

Aircraft Engines Market by Engine Type (Turbofan Engine, Turbojet, Turboprop Engine), Platform (Fixed Wing, Rotary Wing), Application - Global Forecast 2024-2030

SKU
MRR-4369010656EE
Region
Global
Publication Date
February 2024
Delivery
Immediate
2023
USD 91.70 billion
2030
USD 136.45 billion
2024
USD 96.97 billion
CAGR
5.84%
360iResearch Analyst
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[192 Pages Report] The Aircraft Engines Market size was estimated at USD 91.70 billion in 2023 and expected to reach USD 96.97 billion in 2024, at a CAGR 5.84% to reach USD 136.45 billion by 2030.

Aircraft Engines Market
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Aircraft engine maintenance, repair, and overhaul (MRO) refers to the processes involved in ensuring the performance, reliability, and safety of aircraft engines. MRO comprises a broad range of services that include routine maintenance, comprehensive repairs, refurbishing, and sometimes complete overhauls of the engine and its components. The primary drivers of aircraft engine MRO include the increasing demand for air travel, aging aircraft fleets, stringent aviation regulations, and the continuous need to optimize engine performance and fuel efficiency. Additionally, the rise of low-cost carriers has led to higher utilization rates of aircraft, necessitating more frequent maintenance proceedings. One of the major challenges faced by the aircraft engine MRO industry is the rapid advancement of engine technology, which requires continuous investments in training and equipment. The need to comply with various international regulations, maintain a supply of spare parts, and manage the logistical complexity of global MRO networks also poses significant challenges. However, the MRO sector offers numerous opportunities. The growing emphasis on sustainable practices opens new avenues for eco-efficient MRO services. The adoption of advanced technologies, such as predictive maintenance, big data analytics, and automation, can increase efficiency and reduce turnaround times. Lastly, expansions in emerging markets and partnerships with original equipment manufacturers (OEMs) provide strategic opportunities for growth in the aircraft engine MRO landscape.
Aircraft Engines Market - Global Forecast 2024-2030
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FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Aircraft Engines Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Aircraft Engines Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Aircraft Engines Market, highlighting leading vendors and their innovative profiles. These include Barnes Group Inc., CFM international, General Electric Company, Honeywell International Inc., IAE International Aero Engines AG, IHI Corporation, JSC Klimov by United Engine Corporation, Lockwood Aero Independent Service Center of ROTAX, MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce PLC, Safran Group, Textron Systems Corporation, UEC-Aviadvigatel, and Williams International Co., L.L.C.

Market Segmentation & Coverage

This research report categorizes the Aircraft Engines Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Engine Type
    • Turbofan Engine
    • Turbojet
    • Turboprop Engine
    • Turboshaft Engine
  • Platform
    • Fixed Wing
    • Rotary Wing
  • Application
    • Commercial Aviation
      • Cargo Plane
      • Chartered
      • Commercial Helicopter
      • Commercial Jet
    • Military Aviation
      • Fighter Jets
      • Military Helicopter

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Aircraft Engines Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Aircraft Engines Market?
  3. What are the technology trends and regulatory frameworks in the Aircraft Engines Market?
  4. What is the market share of the leading vendors in the Aircraft Engines Market?
  5. Which modes and strategic moves are suitable for entering the Aircraft Engines Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Aircraft Engines Market, by Engine Type
  7. Aircraft Engines Market, by Platform
  8. Aircraft Engines Market, by Application
  9. Americas Aircraft Engines Market
  10. Asia-Pacific Aircraft Engines Market
  11. Europe, Middle East & Africa Aircraft Engines Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 464]
  16. List of Companies Mentioned [Total: 15]
Advances in Aircraft Engine Technology That Are Changing the Game
January 18, 2024
BLOG
Advances in Aircraft Engine Technology That Are Changing the Game
One of the most crucial components in aviation is the aircraft engine. It powers planes and keeps them flying, and technological advances have transformed machines in unimaginable ways. This blog explores some of the latest advances in aircraft engine technology.

More Fuel-Efficient Engines:

One of the most significant recent advances in aircraft engine technology is the focus on making engines that consume less fuel. This effort has been due to the increased demand for eco-friendly aircraft and lower operating costs.

Reduced Noise and Emissions:

Engine manufacturers have gone a long way to reduce the noise and emissions from their products. These efforts are due to the rising concerns regarding noise pollution and its negative environmental impact. The development of lighter materials capable of absorbing noise has been instrumental in this success. These technologies have resulted in quieter and cleaner aircraft operations.

Hybrid Engines and Electric Propulsion:

While hybrid and electric engines are still developing, they are set to revolutionize the aviation industry. Aircraft engines could be powered by a combination of electric motors and gas turbines that provide power for takeoff and landing, with electric ones generating power for cruise. This approach could result in fewer emissions, less noise, and enhanced fuel efficiency, making it a significant milestone in green aircraft technology.

Digitization and Predictive Maintenance:

As technology advances, artificial intelligence (AI) and machine learning (ML) play a more significant role in the aviation industry. Predictive maintenance is one of the areas where these technologies excel. It involves predicting potential faults and failures before they happen, minimizing the likelihood of unplanned downtime, and saving operators time and money.

The aviation industry continues to develop, with aircraft engine advancements at its forefront. These innovations are a testament to what engineering can achieve when driven by the desire to make flying safer, quieter, and more environmentally friendly.

Frequently Asked Questions
  1. How big is the Aircraft Engines Market?
    Ans. The Global Aircraft Engines Market size was estimated at USD 91.70 billion in 2023 and expected to reach USD 96.97 billion in 2024.
  2. What is the Aircraft Engines Market growth?
    Ans. The Global Aircraft Engines Market to grow USD 136.45 billion by 2030, at a CAGR of 5.84%
  3. When do I get the report?
    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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