(MENAFN- EIN Presswire)
Aircraft Engines Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
You Can Now Pre Order Your Report To Get A Swift Deliver With All Your Needs” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 30, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only!
The aircraft engines market has seen significant growth in recent years. It is projected to increase from $44.31 billion in 2023 to $54.96 billion in 2024, with a compound annual growth rate (CAGR) of 24.0%. This expansion in the past can be credited to the rise in commercial aviation, technological innovations, regulatory mandates, and airline fleet upgrades.
How Big Is the Global Aircraft Engines Market Expected to Grow, and What Is Its Annual Growth Rate?
The aircraft engines market is projected to experience steady growth over the next few years, reaching $64.84 billion by 2028 at a compound annual growth rate (CAGR) of 4.2%. This growth can be attributed to advancements in sustainable aviation, the adoption of emerging technologies, expanding markets in developing economies, and the rise of urban air mobility (UAM).
Uncover In-Depth Analysis of the Global Aircraft Engines Market by Accessing a Sample Report:
What Is Driving the Growth of the Aircraft Engines Market?
The ongoing modernization of airline fleets is anticipated to be a key factor driving the aircraft engine market in the coming years. Fleet modernization involves airlines and aviation operators upgrading or replacing older aircraft with newer, more advanced, and fuel-efficient models. This process helps airlines improve fuel efficiency and meet the rising demand for air travel by replacing outdated and less efficient planes.
Pre-book the report for a swift delivery:
Which Leading Companies Are Driving The Growth Of The Aircraft Engines Market Share?
Key players in the aircraft engines market include General Electric Company, Rolls-Royce Limited, Honeywell International Inc., United Technologies Corporation, Safran S.A., IAE International Aero Engines AG, MTU Aero Engines, Textron Inc., Hindustan Aeronautics Limited, Klimov, Continental Motors Group, United Engine Corporation, Motor Sich, AVIC Aircraft, Aero Engine Corporation of China, Barnes Group, Pratt & Whitney, UEC-Aviadvigatel JSC, Ivchenko-Progress, NPO Saturn, PowerJet, EuroJet Turbo GmbH, Xi'an Aero-Engine Corporation (XAEC), Guizhou Aircraft Industry Corporation (GAIC), IHI Corporation, Williams International, Austro Engine GmbH, Textron Aviation Inc.
What Are The Key Trends Driving The Growth Of The Aircraft Engines Market Size?
Leading companies in the aircraft engine market are ramping up their investments in maintenance, repair, and overhaul (MRO) facilities to broaden their global customer reach. These MRO facilities are specialized workshops where aircraft engines undergo servicing, maintenance, repairs, and overhauls to ensure they operate safely and efficiently.
How Is the Global Aircraft Engines Market Segmented?
1) By Type: Turboprop, Turboshaft, Turbofan, Piston Engine
2) By Technology: Conventional Engine, Electric/Hybrid
3) By Platform: Fixed Wing, Rotary Wing
4) By Application: General Aviation, Business Aviation, Recreational Aviation, Others
North America: The Leading Region in the Aircraft Engines Market
North America was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the market during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is the Aircraft Engines Market?
An aircraft engine is a crucial part of the propulsion system, responsible for generating the mechanical power needed to operate an aircraft. It is powered by various fuels, including jet fuel, aviation gasoline (Avgas), jet B, and biokerosene.
The Aircraft Engines Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Aircraft Engines Market Report: Trends, Opportunities, Strategies, and More
The Aircraft Engines Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into aircraft engines market size, aircraft engines market drivers and trends, aircraft engines competitors' revenues, and aircraft engines market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Passenger Aircrafts Global Market Report 2024
Air Based Defense Equipment Global Market Report 2024
Commercial Aircraft Global Market Report 2024
What Services Does The Business Research Company Offer?
The Business Research Company has published more than 15,000 reports spanning 27 industries and over 60 regions. Our research is supported by 1.5 million datasets, thorough secondary research, and unique insights gained from interviews with industry experts. We offer ongoing and customized research services, featuring a variety of specialized packages designed to meet your specific needs, such as Market Entry Research, Competitor Tracking, Supplier & Distributor Packages, and many others.
Our flagship product, the Global Market Model, serves as a leading market intelligence platform that provides comprehensive and updated forecasts to facilitate informed decision-making.
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
...
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN29102024003118003196ID1108831627