How big is the Aircraft Engines Market?

The Aircraft Engines Market size is expected to reach USD 82.96 billion in 2024 and grow at a CAGR of 6.06% to reach USD 111.32 billion by 2029. Read More

What is the current Aircraft Engines Market size?

In 2024, the Aircraft Engines Market size is expected to reach USD 82.96 billion. Read More

Who are the key players in Aircraft Engines Market?

Safran SA, General Electric Company, Rolls-Royce plc, RTX Corporation and Honeywell International Inc. are the major companies operating in the Aircraft Engines Market. Read More

Which is the fastest growing region in Aircraft Engines Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Aircraft Engines Market?

In 2024, the North America accounts for the largest market share in Aircraft Engines Market. Read More

What years does this Aircraft Engines Market cover, and what was the market size in 2023?

In 2023, the Aircraft Engines Market size was estimated at USD 77.93 billion. The report covers the Aircraft Engines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Engines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What future trends are expected in the Aircraft Engines Market?

Future trends in the Aircraft Engines Market are: a) Increased investment in sustainable aviation fuels (SAF) b) Development of electric and hybrid propulsion systems, and c) Continued focus on reducing emissions and noise levels Read More

Aircraft Engine Market & Industry Share

Aircraft Engine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Aircraft Engine Industry Analysis Report is Segmented by Engine Type (Turbofan, Turboprop, Turboshaft, and Piston), Aircraft Type (Commercial, Military, and General Aviation), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Share, Size, and Forecast for all the Above Segments in Value (USD).

Aircraft Engine Industry Overview

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.