How big is the Aircraft Turbine Engine Market?

The Aircraft Turbine Engine Market size is expected to reach USD 56.83 billion in 2024 and grow at a CAGR of 10.26% to reach USD 92.62 billion by 2029. Read More

What is the current Aircraft Turbine Engine Market size?

In 2024, the Aircraft Turbine Engine Market size is expected to reach USD 56.83 billion. Read More

Who are the key players in Aircraft Turbine Engine Market?

Rolls-Royce plc, CFM International, Safran, General Electric Company and Pratt & Whitney (RTX Corporation) are the major companies operating in the Aircraft Turbine Engine Market. Read More

Which is the fastest growing region in Aircraft Turbine Engine 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 Turbine Engine Market?

In 2024, the Europe accounts for the largest market share in Aircraft Turbine Engine Market. Read More

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

In 2023, the Aircraft Turbine Engine Market size was estimated at USD 51.00 billion. The report covers the Aircraft Turbine Engine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Turbine Engine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Aircraft Turbine Engine Market Size & Share Analysis - Industry Research Report

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

The Aircraft Turbine Engine Market Report is Segmented by End-User (Civil and Commercial Aviation, Military Aviation), Aircraft Type (Fixed-Wing, Rotorcraft), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Aircraft Turbine Engine Industry Overview

The aircraft turbine engine market is semi-consolidated and characterized by many global vendors. CFM International, General Electric Company, Pratt & Whitney (RTX Corporation), Rolls-Royce plc, and Safran are five major companies in the market that compete in terms of availability, quality, price, and technology.

The market is highly competitive, with all the players competing to gain the largest market share. Grounding of fleets due to technical issues, high production costs, delays in engine deliveries, and fluctuations in customs and import duties are the key factors that threaten the market's growth. Vendors must provide advanced, high-quality gas turbine engines to survive and succeed in the competitive market.

In-house manufacturing capabilities, a global footprint network, product offerings, R&D investments, and a solid client base are the key areas that give you an edge over competitors. Improving global economic conditions is expected to fuel market growth during the forecast period, making it an ideal time to adopt new-generation aircraft and engines.

The competitive environment in the market is likely to intensify further due to an increase in product and service extensions, technological innovations, and mergers and acquisitions. For instance, in November 2021, Materialize and Proponent announced a partnership to expand the profile of 3D printing in aerospace aftermarket supply chains. Proponent offers traditional distribution services to airlines, MROs, Original Equipment Manufacturers, and Innovative Product Portfolios. The firm delivers 54 million parts annually to approximately 6,000 aircraft clients in more than 100 countries through its global coverage. These companies offer aftermarket parts like engines, airframes, cabin interiors, and cockpits.