AIRCRAFT ENGINES MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)

Global Aircraft Engines Market Overview:

An aircraft engine, either a gas turbine or piston engine, is a propulsion system meant to propel aircraft. Of late, there has been exceptional growth in air traffic as commercial airlines carried over 4.3 billion air passengers in 2018. The huge influx in air traffic has led to a rise in demand for aircraft which puts the onus on aircraft engine manufacturers to provide the efficient, lightweight and technologically advanced energy-efficient engine. Considering the pace with technology is evolving, there would be major changes in aircraft engines attributed to economic and environmental concerns of fossil fuels.

Some of the key players profiled in the study are Rolls-Royce plc [ United Kingdom], GE Aviation [United States], Pratt & Whitney [United States], CFM International [United States], Engine Alliance [United States], IAE International Aero Engines AG [United States], MTU Aero Engines [Germany], Safran [France] and Honeywell Aerospace [United States].

According to Market Analyst at AMA, the Global Aircraft Engines market may see a growth rate of 5.34%

On the basis of geography, the market of Aircraft Engines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).

If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the Aircraft Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

If we see Market by Wing Position, the sub-segment i.e. Fixed Wing will boost the Aircraft Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

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Market Drivers

• Increasing Number of Aircraft Orders
• Growing Demand for Fuel Efficient Aircraft Engine

Market Trend

• Growing Focus on Light Weight Aircraft Engine Manufacturing
• Focus on Reducing Number of In-flight Shutdowns and Aborted Take-offs Through Advanced Health Monitoring Technology

Restraints

• Long Life of Aircraft Engine Affects Replacement Rates
• High Cost and Intricate Technology Involved in Engine Manufacturing

Opportunities

• New Aircraft Manufactures in Asia Pacific

Challenges

• High Cost of Emerging Aircraft Manufacturing Technology
• Stringent Government Regulation Regarding Aircraft Engine Manufacturing and Export & Import
• Existing Backlogs of Aircraft Deliveries

Major Market Developments:

Indian government’s Airline monitoring body, DGCA (Directorate General of Civil Aviation) has imposed new guidelines on on Pratt-powered A320neos amid recent incidents of smoke in the cabin in Pratt & Whitney PW1100G engines deployed in Indigo airline. DGCA has mandated that operators must perform weekly inspections of third-stage LPT blades. boroscope inspection at first oil filte change or A-check is needed for newer engines.

The US Federal Aviation Administration and Europe’s EASA have mandated aircraft governing bodies to limit ETOPS (Extended Range, Twin Engined, Operation, Performance, Standards) to 140 or even 60 minutes from the 330 minutes certified originally amid incidents of 32 Boeing 787s grounded because problems with the Rolls-Royce Trent 1000-C engines.

Target Audience:

Aircraft Engines Manufacturer such as, Turbofan Engine Manufacturers, Piston Engine Manufacturers, Turboshaft Engine manufacturers, Turboprop Engine Manufacturers, Engines Parts Manufacturers, MRO Service Providers and Engine Distributors, Technology Support Providers, Research Bodies, Aircraft Manufacturers (OEMs), Aircraft Engine MROs and Others

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