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Aircraft Engine Market By Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft), By Engine Type (Turboprop, Turbofan, Turboshaft, Piston Engine), By End-User (Commercial Aircraft, Military Aircraft, Others) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

Aircraft engines can be defined as the most vital parts of the propulsion system that convert fuel energy into useful mechanical energy used to lift and propel the aircraft. Almost every aircraft, except some hybrid or solar-powered aircraft, uses some form of a mechanical engineer for its propulsion. A variety of aircraft engines are available for different end-use applications, including passenger, cargo, military, and aerospace aircraft. Air transport for passenger, cargo, and military applications has been on the rise consistently for the past few decades. In order to fulfill the demand, a number of new aircraft are introduced continuously. With consistently rising demand for all the aforementioned end-user applications, the aircraft engine market is also expected to grow in proportion to the demand for aircraft.

Rising fuel prices, strict emission norms, and the need for powerful engines have forced aircraft engine manufacturers to upgrade their existing products. In order to fulfill the aforementioned demands, aircraft engine manufacturers are engaged in the design and development of more sophisticated and efficient engines. Aircraft with better fuel injection systems and low noise emissions are the result of perpetual technological development in the field of engine design.

Manufacturing companies, OEMs, and airline companies are forming alliances and strategic partnerships to develop better and more economical engines for different end-use aircraft verticals. In addition, the companies are also striving to acquire contracts from government airline agencies and military organizations to provide aircraft engines. Owing to breathtaking competition between airline companies and consistently growing demand for new aircraft, the overall aircraft engine market is expected to demonstrate uniform growth throughout the forecast period.

The report titled "Aircraft Engine Market: Growth, Future Prospects, and Competitive Landscape, 2017–2025" offers strategic insights into the global aircraft engine market with a focus on the market's size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of market segments based on engine type, aircraft type, end-user, and a cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2016–2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

The report also includes competitive profiling of the leading aircraft engine manufacturing companies, their strategies, market positioning, and key developments to assist strategic decision-makers. Some of the major players profiled in the report include General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation, Pratt & Whitney Division, Snecma S.A., Hindustan Aeronautics Limited, United Technologies Corporation, Safran, The Boeing Company, International Aero Engines AG, Engine Alliance LLC, Extron, Inc., and MTU Aero Engines AG.

Other in-depth analysis provided in the report includes:

  • Current and future market trends justify the forthcoming attractive markets within the aircraft engine.
  • Market fuelers, market impediments, and their impact on market growth
  • Market inclination insights and key trend analysis for the aircraft engine market
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)

Overall, the research study provides a holistic view of the global aircraft engine market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global aircraft engine market is segmented, based on aircraft type, into the following categories:

  • Fixed-wing aircraft
  • Rotary-wing aircraft

As of 2016, the fixed wing was the dominant segment in terms of revenue in the overall aircraft engine market by wing type. Fixed-wing aircraft generally include airplanes and gliders with a small capacity. Fixed-wing aircraft are extensively used in commercial aviation as well as for cargo applications. In addition, fixed-wing aircraft are also used for fighter planes in defense applications. With a wide variety of end-use applications and consistently growing demand for the aforementioned application, the market for fixed-wing aircraft is expected to dominate the segment throughout the forecast period.

In 2016, rotary-wing aircraft engines lagged behind the fixed-wing aircraft market. Rotary-wing aircraft or helicopters are used for a wide array of applications, such as commercial air transport, emergency medical transport, rescue operations, and many other military and defense applications. The growing demand for all the aforementioned applications has promoted rotary-wing aircraft in past decades. Consequently, the demand for engines for rotary aircraft engines is expected to grow consistently in the following years.

The global aircraft engine market is segmented, based on engine type, into the following categories:

  • Turboprop
  • Turbofan
  • Turboshaft
  • Piston Engine

As of 2016, turbofan engines dominated the overall aircraft engine market in terms of revenue. Turbofan engines are commonly used for civil and commercial aircraft. Perpetual development in the field of civil aviation and aircraft engines has been observed for the past few years. This has drawn the attention of many major airline companies to invest in advanced turbofan engines. Because of their fuel economy and dependability, such engines are in high demand. Owing to the aforementioned factors, the market for the turbofan engine is expected to grow throughout the forecast period.

Turboshaft engines trailed the turbofan engine in terms of revenue in the overall aircraft engine market in the base year of 2016. Turboshaft engines are extensively used in helicopters. Consistently rising demands for helicopters for a variety of end-use applications, including commercial aviation, medical services, emergency, and rescue operations, and military applications, have boosted the demand for turboshaft engines. The engines are small and economical compared to other aircraft engines. Because of the features and versatility offered by helicopters, the market for turboshaft engines is expected to grow steadily in the coming years.

The global aircraft engine market is segmented, based on end-user, into the following categories:

  • Commercial Aircraft
  • Military Aircraft
  • Others

Consistently growing trade and passenger transport among different countries has boosted the commercial aviation industry significantly. A blooming aviation industry has generated demand for new and advanced aircraft. Manufacturers are continuously engaged in the enhancement of current engines for a more economical and comfortable aviation experience. With the perpetual growth of commercial aviation, this market segment is expected to dominate the overall aircraft engine market throughout the forecast period. As of 2016, the commercial aircraft engine segment dominated the overall aircraft engine market.

The military aircraft engine segment trailed the commercial aircraft engine segment in the base year of 2016. Military and defense organizations across the globe are consistently strengthening their air-force defense system by adding new and improved versions of fighter aircraft and helicopters. Rising terrorist activities and territorial disputes among nations have forced the nation to incorporate a state-of-the-art air defense system, including fighter aircraft and helicopters. Subsequently, the military aircraft engine segment is expected to grow at a significant rate in the following years.

The global aircraft engine market has been segmented on the basis of geographical regions, as per the following regions and countries:

North America

  • U.S.
  • rest of North America

Europe

  • U.K.
  • Germany
  • France
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • India
  • Rest of Asia Pacific

Rest of the World (RoW)

  • The Middle East and Africa
  • Latin America

As of 2016, North America dominated the overall aircraft engine market in terms of revenue as well as volume. A consistent rise in the aviation industry has been observed in the past few years in North America, especially in the U.S. Rising trade activities and passenger transportation has encouraged the growth of the aviation industry. Consequently, the demand for aircraft engines has increased significantly. In addition, the strengthening of the defense capabilities of new and advanced aircraft has also aided the overall aircraft engine market to flourish in this region. North America is expected to dominate the overall aircraft engine market throughout the forecast period from 2017 to 2025.

Europe trailed North America in the overall aircraft engine market in terms of revenue and volume. The heavy concentration of industrial manufacturing and an established market have boosted trade significantly, both within and outside of the European region. The use of aircraft for cargo transportation has boosted the aviation industry in this region. In addition, tourism in this region has also escalated passenger transport through aircraft. With the growth in the aviation industry, the market for aircraft engines is also expected to show significant growth in the coming years.

Frequently Asked Question:

The market for Aircraft Engine Market is expected to reach USD$ 61.72Bn in 2025.

The Aircraft Engine Market is expected to see significant CAGR growth over the coming years, at 5.3%.

The report is forecasted from 2017 -2025.

The base year of this report is 2016.

General Electric Company, Rolls-Royce Motor Cars Limited, Honeywell International Inc., United Technologies Corporation. are some of the major players in the global market.

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Published Date:  Sep 2017
Category:  Aerospace & defense
Report ID:   58713
Report Format:   PDF
Pages:   120
Rating:    4.8 (60)
Delivery Time: 24 Hours to 48 Hours   
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