Market Share of Aircraft Engines Industry
The aircraft engine market is consolidated, with a few players holding a dominating market share in both the commercial and military aircraft segments. Some of the largest companies in the global market are General Electric Company (through GE Aviation), RTX Corporation (through Pratt & Whitney), Rolls-Royce plc, Safran SA, and Honeywell International Inc.
The players mentioned above, along with their joint ventures such as CFM International (GE Aviation and Safran), International Aero Engines (Pratt & Whitney, Japanese Aero Engine Corporation, and MTU Aero Engines), and Engine Alliance (General Electric and Pratt & Whitney), provide engines for major commercial and military aircraft programs.
Also, engine manufacturers are partnering with aircraft manufacturers to develop sustainable aircraft engine solutions that are low-weight and reduce engine emissions. For instance, in February 2022, Embraer, Widerøe, and Rolls-Royce entered a research partnership agreement to conduct a 12-month study and research innovative sustainable technologies for regional planes, focusing on developing a conceptual zero-emissions aircraft.
In addition, due to increasing demand for local manufacturing, regional players are partnering with international players. For instance, as of March 2022, India's Defence Research and Development Organization (DRDO) was in talks with Safran for the joint development of a 125KN engine for the indigenous fifth-generation Advanced Medium Combat Aircraft (AMCA) (currently under development, with the first flight planned for 2024). Industry analysis suggests that such developments are anticipated to help the companies increase their geographical presence over the coming years.
Aircraft Engine Market Leaders
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Safran SA
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General Electric Company
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Rolls-Royce plc
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RTX Corporation
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
