Market Size of Middle-East And Africa Aircraft Engine Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 19.28 Billion |
| Market Size (2029) | USD 25.46 Billion |
| CAGR (2024 - 2029) | 5.72 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle-East and Africa Aircraft Engine Market Analysis
The Middle-East And Africa Aircraft Engine Market size is estimated at USD 19.28 billion in 2024, and is expected to reach USD 25.46 billion by 2029, growing at a CAGR of 5.72% during the forecast period (2024-2029).
An increase in air passenger traffic leads to increasing demand for new aircraft. Growing procurement of aircraft and rising number of aircraft modernization programs drive the growth of the market. Rising aircraft orders and replacement of old aircraft engine creates demand for new engines. The new engines are lightweight and fuel-efficient with more thrust generation capability compared to old engines and this factor is driving the market growth for the aircraft engine in this region.
Furthermore, increasing defense expenditure by major regional economic powers and the procurement of new fighter aircraft for fleet modernization are propelling the growth of the aircraft engine market in the Middle East and Africa region. Countries are also trying to develop new military aircraft and engines indigenously. In February 2017, Russia and the United Arab Emirates announced the joint development of a fifth-generation twin-engine aircraft that would enter the service from 2025.
Engine manufacturers are targeting the region due to its high potential and are expecting several new orders during the forecast period. Local firms are collaborating with international players to enhance their production capabilities. The aircraft engine market in the region has tremendous growth potential but is also marred by certain challenges, one of them being adherence to stringent regulatory and environmental standards in the aviation industry. Engine manufacturers need to invest in research and development to meet these requirements, which makes them vulnerable to cyclic demand fluctuations and economic crises.
Middle-East and Africa Aircraft Engine Industry Segmentation
An aircraft engine is a component of the aircraft’s advanced propulsion system that generates mechanical power. The Middle East and Africa aircraft engine market is segmented by engine type, application, and geography. By engine type, the market is segmented into turbine and piston. By application, the market is segmented into commercial aviation, military aviation, and general aviation. The report also offers the market size and forecasts for 4 major countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).
| Engine Type | |
| Turbine | |
| Piston |
| Application | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| Geography | |||||||
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Middle-East And Africa Aircraft Engine Market Size Summary
The Middle-East and Africa aircraft engine market is poised for significant growth, driven by increasing air passenger traffic and the subsequent demand for new aircraft. This demand is further fueled by the rising procurement of aircraft and modernization programs, which necessitate the replacement of old engines with new, lightweight, and fuel-efficient models. The region's defense expenditure is also on the rise, with countries investing in new fighter aircraft and indigenous development of military aircraft and engines. This trend is supported by international collaborations, such as the joint development of advanced aircraft by Russia and the UAE, and partnerships aimed at enhancing local production capabilities. Despite the market's growth potential, challenges such as stringent regulatory standards and the need for substantial investment in research and development remain.
The United Arab Emirates is emerging as a key player in the region's aviation sector, with national airlines expanding their fleets to accommodate increasing air traffic. This expansion includes significant orders for new aircraft from major manufacturers like Boeing, as well as plans for domestic development of helicopters. The market is characterized by a few dominant international players, such as Safran SA, General Electric Company, and Rolls-Royce plc, who provide essential support and maintenance services. The consolidation of the market is evident through strategic partnerships and joint ventures aimed at future engine development. These collaborations are further bolstered by substantial investments in the regional aviation industry, which are expected to drive continued growth in the aircraft engine market over the forecast period.
Middle-East And Africa Aircraft Engine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Engine Type
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2.1.1 Turbine
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2.1.2 Piston
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2.2 Application
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2.2.1 Commercial Aviation
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2.2.2 Military Aviation
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2.2.3 General Aviation
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2.3 Geography
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2.3.1 Middle East and Africa
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2.3.1.1 United Arab Emirates
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2.3.1.2 Saudi Arabia
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2.3.1.3 Israel
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2.3.1.4 Egypt
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2.3.1.5 Rest of Middle-East and Africa
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Middle-East And Africa Aircraft Engine Market Size FAQs
How big is the Middle-East And Africa Aircraft Engine Market?
The Middle-East And Africa Aircraft Engine Market size is expected to reach USD 19.28 billion in 2024 and grow at a CAGR of 5.72% to reach USD 25.46 billion by 2029.
What is the current Middle-East And Africa Aircraft Engine Market size?
In 2024, the Middle-East And Africa Aircraft Engine Market size is expected to reach USD 19.28 billion.
