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Aircraft Engine Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71872
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The aircraft engine market share is expected to increase by USD 57.07 billion from 2021 to 2026, at a CAGR of 18.83%.

This aircraft engine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aircraft engine market segmentation by application (commercial aviation and military aviation) and geography (Europe, North America, APAC, South America, and MEA). The aircraft engine market report also offers information on several market vendors, including Airbus SE, BMW AG, General Electric Co., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, PowerJet Pressure Cleaning Systems, Pratt and Whitney, Safran SA, and Williams International Co. LLC among others.

What will the Aircraft Engine Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Aircraft Engine Market Size for the Forecast Period and Other Important Statistics

 

Aircraft Engine Market: Key Drivers and Trends

The increase in aircraft deliveries is notably driving the aircraft engine market growth, although factors such as scarcity of skilled resources may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aircraft engine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Aircraft Engine Market Driver

The rise in aircraft deliveries is one of the key factors driving the aircraft engine market share growth. With the regional airlines using strategies such as introducing low-fare business models, the demand for air travel in the middle-class population is estimated to rise. Moreover, the year-on-year increase in air traffic has encouraged the induction of new aircraft to serve the demand. Therefore, despite numerous challenges the global air travel is expected to grow at a positive rate, boosting the aircraft engine market growth during the forecast period.

Key Aircraft Engine Market Challenge

The lack of skilled resources is a key challenge for the aircraft engine market share growth during the forecast period. Although machine learning is an advanced tool and valuable for customer service management, a large number of resources is required to achieve desired performance on a consistent basis. Moreover, the revolution in the demand for advanced technology requires higher professional skills. However, the lack of skilled human resources organizations is expected to limit the aircraft engine market growth during the forecast period.

This aircraft engine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Aircraft Engine Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Airbus SE
  • BMW AG
  • General Electric Co.
  • Honeywell International Inc.
  • Mitsubishi Heavy Industries Ltd.
  • MTU Aero Engines AG
  • PowerJet Pressure Cleaning Systems
  • Pratt and Whitney
  • Safran SA
  • Williams International Co. LLC

 

This statistical study of the aircraft engine market encompasses successful business strategies deployed by the key vendors. The aircraft engine market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The aircraft engine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Aircraft Engine Market?

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32% of the market’s growth will originate from Europe during the forecast period. France, Germany, and the UK are the key markets for aircraft engine market in Europe. Market growth in this region will be faster than the growth of the market in South America and MEA regions.

The localization of maintenance technology and services will facilitate the aircraft engine market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Aircraft Engine Market?

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The aircraft engine market share growth by the commercial aviation segment will be significant during the forecast period. Both general aviation and regular air travel are included in commercial aviation - most of them work together with agencies to establish standards and best aviation practices. Moreover, the commercial aviation aircraft engines are driven by second-generation CFM6 engines, which have retractable wings. Thus, the commercial aviation segment is estimated to drive the aircraft engine market share growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the aircraft engine market size and actionable market insights on post COVID-19 impact on each segment.

 

Aircraft Engine Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 18.83%

Market growth 2022-2026

$ 57.07 billion

Market structure

Fragmented

YoY growth (%)

26.96

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

Europe at 32%

Key consumer countries

US, France, Germany, UK, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Airbus SE, BMW AG, General Electric Co., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, PowerJet Pressure Cleaning Systems, Pratt and Whitney, Safran SA, and Williams International Co. LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Aircraft Engine Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive aircraft engine market growth during the next five years
  • Precise estimation of the aircraft engine market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aircraft engine industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aircraft engine market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Commercial aviation - Market size and forecast 2021-2026
    • Military aviation - Market size and forecast 2021-2026
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • Europe - Market size and forecast 2021-2026
      • North America - Market size and forecast 2021-2026
      • APAC - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Airbus SE
      • BMW AG
      • General Electric Co.
      • Honeywell International Inc.
      • Mitsubishi Heavy Industries Ltd.
      • MTU Aero Engines AG
      • PowerJet Pressure Cleaning Systems
      • Pratt and Whitney
      • Safran SA
      • Williams International Co. LLC

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The aircraft engine market growth will increase by $57.07 billion during 2021-2026.
      The aircraft engine market is expected to grow at a CAGR of 18.83% during 2021-2026.
      Technavio has segmented the aircraft engine market by application (Commercial aviation and Military aviation) and geographic (Europe, North America, APAC, South America, and MEA).
      Airbus SE, BMW AG, General Electric Co., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, PowerJet Pressure Cleaning Systems, Pratt and Whitney, Safran SA, Williams International Co. LLC are a few of the key vendors in the aircraft engine market.
      Europe will register the highest growth rate of 32.03% among the other regions. Therefore, the aircraft engine market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the aircraft engine market growth are:
      • Increase in aircraft deliveries
      The aircraft engine market vendors should focus on grabbing business opportunities from the commercial aviation segment as it accounted for the largest market share in the base year.
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