(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Aircraft Engines Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aircraft Engines Market products.
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According to the statistics by the Aerospace Industries Association (AIA), the aerospace and defense industry, in the United States, during the year 2018, generated a revenue worth USD 374 billion in value-added products and services.
Global Aircraft Engines Industry was valued at USD 68.21 Billion in the year 2017. Global Aircraft Engines Industry is further estimated to grow at a CAGR of 5.09% from 2018 to reach USD 101.48 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Europe Industry is considered as the fastest growing Industry in the forecasted period. At a country level, the U.S. is projected to grow at a strongly in the coming years.
Major market players in Aircraft engines Industry are Key Industry Players Honeywell International Inc., Boeing, Hindustan Aeronautics Limited (HAL), General Electric Co., Rolls-Royce plc, Extron Inc., GE Aviation, MTU Aero Engines AG, Safran SA, United Technologies Corporation—Pratt & Whitney Division, and other 12 companies detailed information is provided in research report. Rising research and development expenses to cater changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Aircraft Engines Industry:
Strength:
Increase in production of aircraft due to development in the tourism sector
Weakness:
Balancing production and demand capacity
Opportunities:
Rising demand in private jet
Threats:
Changing government norms and regulations
The major shares of the Industry come from turbofan engine segment in Global Aircraft Engines Industry. On the other hand, Commercial Aviation, by application for this Industry is expected to grow at highest CAGR during the year 2018-2025.
Aircraft Engines Industry Segmentation:
By Platform
*Rotary Wing
*Fixed Wing
By Type
*Turboshaft
*Turboprop
*Turbofan
*Piston Engine
By Application
*General Aviation
*Commercial Aviation
*Military Aviation
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Africa
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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