Aircraft Engine Market Size Expected to Grow by USD 57.07 Billion | Increase in aircraft deliveries to drive market growth

Key Market Dynamics:

The increase in aircraft deliveries is notably driving the growth of the aircraft engine market. With regional airlines employing strategies such as introducing low cost business models, the demand for air travel among the middle class population is expected to increase. Additionally, the year-on-year increase in air traffic has encouraged the induction of new aircraft to meet demand.

Lack of skilled resources is a major challenge for the growth of aircraft engine market share during the forecast period. A large number of resources are required to achieve the desired performance consistently. Lack of skilled human resource organizations is expected to limit the growth of the aircraft engine market over the forecast period.

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Key Market Segment Analysis:

The Aircraft Engines Market report is segmented by Application (Commercial Aviation and Military Aviation) and Geography (Europe, North AmericaACPA, South America, and MEA). Commercial aviation application segment held the largest aircraft engine market share in 2021. The segment will continue to account for the largest share by 2026, mainly due to the boom in general aviation and regular air travel.

Europe will be the leading region with 32% of the market growth over the forecast period. The growth of this region can be attributed to the presence of one of the most successful aircraft manufacturing industries in Russia. The UK is the leading exporter of aerospace parts and services and accounts for around a third of total exports to Europe. The aircraft, engine and parts manufacturing industry in the UK is the second largest in the world after the United States. The technical knowledge of the aerospace industry has progressed in a few member countries of the European Union (EU) such as Italy, FranceGreat Britain, Germany, Swedenand Spain. This will further boost regional growth in the coming years.

See our sample report for additional information on the contribution of all segments and regional opportunities in the report.

Some companies mentioned

    • Airbus SE
    • BMW AG
    • General Electricity Company.
    • Honeywell International Inc.
    • Mitsubishi Heavy Industries Ltd.
    • MTU Aero Engines AG
    • PowerJet pressure cleaning systems
    • Pratt and Whitney
    • Safran S.A.
    • Williams International Co. LLC
  • To access more vendor profiles with their key strategic initiatives in a tailored report, talk to our analysts

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Aircraft Engine Market Scope

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Slowing down to a CAGR of 18.83%

Market Growth 2022-2026

$57.07 billion

Market structure

Fragmented

Annual growth (%)

26.96

Regional analysis

Europe, North America, APAC, South America and MEA

Successful market contribution

Europe at 32%

Main consumer countries

United States, France, Germany, United Kingdom and China

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Airbus SE, BMW AG, General Electric Co., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, PowerJet Pressure Cleaning Systems, Pratt and Whitney, Safran SA and Williams International Co. LLC

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

  • Summary
  • Market landscape
  • Market sizing
  • Five forces analysis
  • Market segmentation by application
  • Customer landscape
  • Geographic landscape
  • Supplier Landscape
  • Vendor analysis
  • appendix

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