(MENAFN- GlobeNewsWire - Nasdaq) Opportunities in the aircraft turbofan engine market include increased demand for high-efficiency, low-noise engines, adoption of geared turbofan technology, growth driven by rising air travel and aircraft orders, and expansion of fleet modernization programs. Tariffs create challenges and incentivize local innovation.Dublin, Jan. 21, 2026 (GLOBE NEWSWIRE) -- The "Aircraft Turbofan Engine Market Report 2026" has been added to ResearchAndMarkets's offering.
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The aircraft turbofan engine market has demonstrated robust growth and is projected to expand from $3.35 billion in 2025 to $3.58 billion in 2026 at a CAGR of 6.8%. Key growth drivers include increased adoption of turbofan engines for enhanced fuel efficiency, lower noise outputs, and the introduction of low and medium bypass ratio engines across commercial and military sectors. The high demand for high bypass ratio turbofans, geared turbofan technologies for better propulsion efficiency, and rising global air travel are also contributing to mass production in this sector.
Looking forward, the market is anticipated to escalate to $4.66 billion by 2030, maintaining a CAGR of 6.8%. This phase of growth is largely attributed to the rising demand for next-gen turbofan engines with reduced emissions and improved efficiency. The integration of advanced materials and cooling technology, significant investments in geared turbofan platforms, and burgeoning aircraft fleet modernization programs are critical contributors. Innovations enabling hybrid-electric integration, further noise reductions, and growth in MRO services are key trends in the forthcoming period.
A substantial increase in aircraft orders is driving growth. Airlines are expanding fleets with new, more fuel-efficient aircraft due to rising travel demand, leading to a surge in commercial aircraft orders. Notably, Aircraft Interiors International reported a 91% hike in aircraft orders in 2023 year-on-year, with a significant 78% increase in single-aisle and 169% in widebody aircraft orders. This trend substantiates the escalating demand for aircraft turbofan engines.
The uptick in air passenger numbers further supports market expansion. As air travel becomes increasingly accessible, the demand for efficient, reliable turbofan engines rises. Eurostat reported a notable 19.3% increase in EU air passengers in 2023 compared with 2022, underscoring the constant growth in this sector.
Product innovation remains a significant trend, with companies such as Raghu Vamsi Machine Tools showcasing technological advancements like the INDRA RV25: 240N engine. This innovation is a testament to international progress, particularly aligning with India's Atma Nirbhar Bharat initiative, promoting self-reliance.
North America currently leads the market, whereas Asia-Pacific is projected to be the fastest-growing region. The report addresses impacts such as tariffs affecting the market, notably on high-value engine segments like GEnx, Trent 1000, and PW4000. These cost pressures are prompting domestic manufacturing and alternative supply chain development, fostering regional supplier growth and innovation in engine design.
Key market players include Pratt & Whitney Canada Corp., Rolls-Royce Holdings plc, CFM International SA, Safran SA, GE Aviation, and Honeywell International Inc., among others, operating across a geographical spectrum including North America, Europe, and Asia-Pacific.
The aircraft turbofan engine market is defined by the sale of low to high bypass ratio turbofan engines and includes geared turbofan engines. The market values discussed represent factory gate values of goods sold by manufacturers to various purchasers and encompass related services.
The report offers in-depth insight into the market landscape, competitive dynamics, and provides strategic recommendations to navigate the rapidly evolving market conditions, ensuring stakeholders are well-positioned to capitalize on emerging opportunities within the aircraft turbofan engine domain.
Report Scope:
Markets Covered:
By Engine Type: PW4000, GEnx, Trent 1000, F414, GP7000, Others By Aircraft Type: Narrow Body, Wide Body Aircraft By Platform: Fixed Wing, Rotary Wing By Application: Military Aviation, Commercial Air Transport, Others Notable Companies: Pratt & Whitney, Rolls-Royce, CFM International, Safran, GE Aviation, and others.
Key Attributes:
CONTACT:
CONTACT:
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