The Aircraft Engines Market Report is Segmented by Engine Type (Turbofan, Turboprop, and More), Aircraft Type (Commercial Aviation, and More), Technology (Geared Turbofan, and More), Thrust Class (Less Than 10, 000 Lbf, and More), Component (Compressor, Turbine, and More), End-User (OEM Factory-Fit, and More) and Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

Aircraft Engine Market size was valued at USD 49.01 billion in 2021 and is poised to grow from USD 54.34 billion in 2022 to USD 137.54 billion by 2030, growing at a CAGR of 10.87% in the forecast period (2023-2030).

CFM International is the leading commercial aircraft engine manufacturer, with ** percent of the engine market worldwide in 2020. In 2021, the global aircraft engine MRO market is expected to be worth **** billion U.S. dollars.

The report covers Global Commercial Aircraft Engines Manufacturers and the market is Segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Regional Aircraft), and by Engine Type (Turbofan and Turboprop) and by Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD) for all the above segments.

The Aircraft Engine Market size is expected to reach a valuation of USD 174.0 billion in 2033 growing at a CAGR of 9.50%. The Aircraft Engine Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

According to Cognitive Market Research, the global aircraft engine market size is USD 75.1 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031. Market Dynamics of Aircraft Engine Market

Key Drivers for Aircraft Engine Market

Technological advancement- The primary driver propelling the aviation engine market is the incorporation of cutting-edge technologies, such as digital monitoring systems, predictive maintenance tools, and innovative materials, into these engines. These innovations make maintenance more efficient, which in turn allows MRO companies to deliver services like predictive and preventive maintenance. The need for services to keep aviation engines running at peak performance for their entire lifespan is rising as a result of improvements in engine design and manufacture that produce engines that last longer and are more efficient. Airline network expansions are a direct result of the rising demand for air travel, which is driving market growth.

Key Restraints for Aircraft Engine Market

One major factor limiting market growth is the aviation industry's concern with security and maintenance requirements. The high costs of upkeep of aircraft engines are expected to limit the aviation engine market. Introduction of the Aircraft Engine Market

An aircraft engine provides propulsion to an airplane at takeoff and landing, as well as during flying. Improvements in fuel efficiency and passenger and cargo comfort are driving forces behind the expected expansion of the worldwide aviation engines market. Even while demand may be stronger for aircraft engines in commercial applications, their role in the military's battle against terrorism, drug trafficking, and illegal infiltration is projected to grow. A growing number of aircraft engines could be fitted to newly constructed commercial aircraft in the commercial sector to accommodate the ever-increasing number of passengers. Aircraft manufacturers and major original equipment manufacturers (OEMs) are working on more fuel-efficient planes to cut down on gas usage. Aircraft fuel efficiency has been a primary emphasis for manufacturers due to the increasing cost of fuel. Many companies are working on lighter engines to help aircraft achieve better fuel efficiency by decreasing the overall weight of the plane. Composite materials, such as reinforced polymers, which are both lightweight and strong, are fueling the market's expansion.

Aircraft Engine market size was valued at USD 84.66 Billion in 2024 and is projected to reach USD 119.11 Billion by 2031, growing at a CAGR of 4.36% from 2024 to 2031.

The Aircraft Engine Market is driven by several key factors, including the increasing demand for air travel, which leads to a higher need for new aircraft and engine replacements. Technological advancements in engine design, such as fuel efficiency improvements and reduced emissions, are also boosting the market as airlines strive to reduce operating costs and meet stringent environmental regulations. The growth of the commercial aviation sector, particularly in emerging markets, is another significant driver, as it creates opportunities for new aircraft deliveries. Additionally, the rise in defense spending by various governments is contributing to the demand for military aircraft engines. Furthermore, the focus on sustainable aviation and the development of hybrid and electric propulsion systems are expected to shape future growth in the aircraft engine market.

The Aircraft Engine Market size was valued at $ 67.94 Bn in 2024 and is predicted to reach to $ 118.89 Bn by 2030 with a CAGR of 9.8% | Forecast 2025-2030

The global aircraft engine market size attained a value of USD 95.10 Billion in 2024. The market is expected to grow at a CAGR of 7.30% between 2025 and 2034, reaching almost USD 192.39 Billion by 2034.

In 2019, the global aircraft engine market size stood at almost ** billion U.S. dollars. This figure is anticipated to reach over **** billion U.S. dollars by 2027 due to the increase in air travel.

According to Cognitive Market Research, the global Small Aircraft Engine market size is USD XX billion in 2023 and will expand at a compound annual growth rate (CAGR) of 8.20% from 2023 to 2030.

North America held the major market of more than 40% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030
Europe market held more than 30% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030
Asia-Pacific market held of more than 23%of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030
Latin America market held of more than 5% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030.
Middle East and Africa market held of more than 2.00% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030
The demand for Small Aircraft engines is rising due to the increasing commercial aircraft deliveries anticipated fuelling the market growth.
Demand for Piston engines remains higher in the Small Aircraft Engine market.
The Fixed Wing category held the highest Small Aircraft Engine market revenue share in 2023.
North American Small Aircraft Engine will continue to lead, whereas the Asia-Pacific Small Aircraft Engine market will experience the most substantial growth until 2030.

Surge in General Aviation Activities to Provide Viable Market Output

A key driver in the Small Aircraft Engine market is the surge in general aviation activities. The increasing demand for private and recreational flying, coupled with the growth of flight training schools and small-scale air transportation, fuels the need for reliable and efficient small aircraft engines. This driver is particularly evident in the context of rising interest in personal aircraft ownership, driving sales and installations of small engines across the general aviation sector.

December 2021 - CFM International, a joint venture of General Electric and Safran Aircraft Engines, was awarded a contract by Saudi Arabian Airlines for CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 Airbus A320neo planes.

Source-www.cfmaeroengines.com/press-articles/saudi-arabian-airlines-corporation-and-cfm-sign-leap-1a-engine-purchase-and-multi-year-services-agreement/

Key Dynamics for the Small Aircraft Engine Market

Regulatory Challenges and Certification Hurdles to Restrict Market Growth

One of the key restraints in the Small Aircraft Engine market is the presence of regulatory challenges and certification hurdles. The industry is subject to stringent aviation regulations and safety standards, requiring rigorous testing and certification processes for new or modified engines. Navigating through these complex certification procedures often leads to extended timelines and increased costs for manufacturers, acting as a significant impediment to the swift introduction of new engines into the market.

Impact of the COVID-19 on the Small Aircraft Engine Market

The COVID-19 pandemic significantly impacted the Small Aircraft Engine market, causing disruptions across the aviation industry. The unprecedented global travel restrictions, lockdowns, and a decline in passenger demand led to a substantial reduction in aircraft operations, affecting the overall demand for small aircraft engines. Manufacturers faced production delays and supply chain interruptions due to workforce challenges and logistical constraints. The economic downturn prompted many airlines and aviation operators to defer or cancel aircraft purchases and maintenance projects, directly impacting the market for small aircraft engines. With reduced air travel and uncertainties surrounding the aviation sector's recovery, the small aircraft engine market experienced a downturn in sales, production, and overall growth during the pandemic. What is Small Aircraft Engine?

An aircraft engine is the piece of the drive framework for an airplane used to produce mechanical force. In an Aircraft Engine, the air is attracted at the front through a channel, compacted by a fan, blen...

Aircraft Engine Market size was USD 88.7 billion in 2022, and is expected to reach a value of USD 105.6 billion in 2032, and register a revenue CAGR of 5.2% during the forecast period.

Wide-body Aircraft Engine Market Outlook

According to our latest research, the global wide-body aircraft engine market size reached USD 32.8 billion in 2024. As per our analysis, the market is projected to grow at a robust CAGR of 6.3% from 2025 to 2033, reaching an estimated USD 56.3 billion by 2033. This growth trajectory is primarily driven by the rising demand for new-generation wide-body aircraft, increasing international air travel, and the ongoing replacement of aging aircraft fleets with more fuel-efficient models. The market’s expansion is further fueled by advancements in engine technology, which are enabling higher fuel efficiency and reduced emissions, making wide-body aircraft engines more attractive to both commercial and military operators worldwide.

One of the primary growth factors propelling the wide-body aircraft engine market is the resurgence in global air passenger traffic, particularly on long-haul international routes. As airlines recover from the impact of the pandemic, there has been a marked increase in orders for wide-body aircraft, which are essential for intercontinental travel due to their range and capacity. The introduction of new long-range routes by major carriers and the expansion of airline networks in emerging economies are further amplifying demand. Additionally, the aviation industry’s focus on sustainability and operational efficiency is steering airlines towards the adoption of advanced wide-body aircraft engines, which offer lower fuel consumption and reduced carbon emissions. This trend is expected to sustain robust growth in the market over the forecast period.

Another significant driver is the ongoing modernization and replacement of aging wide-body aircraft fleets. Many airlines are phasing out older aircraft models in favor of new-generation wide-body jets equipped with state-of-the-art engines. These modern engines are designed to meet stringent environmental regulations and deliver superior performance, thereby reducing operational costs for airlines. The growing emphasis on fleet renewal, especially among major carriers in North America, Europe, and Asia Pacific, is generating substantial demand for wide-body aircraft engines. Leasing companies are also playing a pivotal role by facilitating access to new aircraft for airlines, further boosting market growth.

Technological advancements in engine design and manufacturing are also shaping the market landscape. Innovations such as composite fan blades, advanced cooling systems, and digital engine monitoring are enhancing the performance, reliability, and lifespan of wide-body aircraft engines. Engine manufacturers are investing heavily in research and development to create engines that offer greater thrust, improved fuel efficiency, and lower maintenance requirements. These technological breakthroughs are not only attracting airline operators but are also opening up new opportunities in the military and cargo aviation segments, where performance and operational costs are critical considerations.

Regionally, the Asia Pacific market is emerging as a major growth hub for wide-body aircraft engines, driven by the rapid expansion of commercial aviation in countries such as China, India, and Southeast Asian nations. North America and Europe continue to maintain their dominance, supported by established airline networks and strong presence of leading aircraft and engine manufacturers. The Middle East is also witnessing increased investments in aviation infrastructure and fleet modernization, further contributing to market growth. The regional outlook remains positive, with Asia Pacific expected to register the highest CAGR during the forecast period, reflecting the region’s dynamic aviation sector and rising air travel demand.

Engine Type Analysis

The engine type segment of the wide-body aircraft engine market is primarily categorized into turbofan, turbojet, turboprop, and others. Turbofan engines continu

The Aeroengine Composites Market Report is Segmented by Application (Commercial Aircraft, Military Aircraft, and General Aviation), Component (Fan Blades, Fan Case, Guide Vanes, Shrouds, and Other Components), Material Type (Polymer Matrix Composites and Ceramic Matrix Composites), End-User (OEM and Aftermarket), and Geography (North America, Europe, and More). The Market Forecasts are Provided in Terms of Value (USD).

The aircraft engine market stood around USD94.40 billion in 2021 and is estimated to reach USD195.62 billion by 2035, advancing with a CAGR of 5.30% in the forecast period, 2022-2035.

The global civil aeroengine market is experiencing robust growth, driven by the increasing demand for air travel, particularly in emerging economies. The market, segmented by aircraft size (small, medium, large) and engine type (jet, turbine, piston, other), shows significant potential across all categories. While jet engines currently dominate the market due to their prevalence in larger commercial aircraft, the demand for turbine engines in smaller aircraft and piston engines in general aviation is also contributing to overall market expansion. Technological advancements, including the development of more fuel-efficient and environmentally friendly engines, are key drivers. Furthermore, the ongoing replacement of aging aircraft fleets and the introduction of new aircraft models are stimulating demand for new aeroengines. Competition is intense among major players like GE Aviation, Rolls-Royce, and Pratt & Whitney, leading to continuous innovation and a focus on delivering superior performance and cost-effectiveness. Regulatory pressures related to emissions and noise reduction also influence market dynamics, pushing manufacturers towards sustainable solutions. Growth is anticipated to be particularly strong in the Asia-Pacific region, driven by the rapid expansion of air travel in countries like China and India. However, economic downturns and geopolitical instability can act as restraints, impacting investment in new aircraft and engine purchases. The market is also subject to cyclical fluctuations linked to the overall health of the aviation industry. Despite these challenges, the long-term outlook for the civil aeroengine market remains positive, with continued growth projected over the forecast period, fueled by increasing passenger traffic and the ongoing modernization of global air fleets. The increasing focus on sustainability and the development of hybrid-electric propulsion systems represent significant emerging trends with the potential to reshape the market landscape in the coming years.

Aircraft Engine Leasing Market By Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Engine Type, By Leasing Period, By Aircraft Type, By Application, and By Region

The global aerospace engine market is projected to reach $28.16 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 3.2% from 2025 to 2033. This growth is fueled by several key factors. The increasing demand for commercial air travel, particularly in emerging economies, is a significant driver. Furthermore, the ongoing modernization and expansion of military fleets worldwide necessitate advanced and powerful aerospace engines. Technological advancements, such as the development of more fuel-efficient and sustainable engine designs (including hybrid-electric propulsion systems), are contributing to market expansion. The rise of regional jets and the increasing adoption of engine health monitoring systems also play a crucial role. Segmentation reveals strong demand across various applications, including fighter aircraft, transport aircraft, and helicopters, with jet engines and turbine engines dominating the type segment. Key players like GE Aviation, Rolls-Royce, Pratt & Whitney, Safran Aircraft Engines, and others are actively engaged in research and development, product innovation, and strategic partnerships to maintain their market positions. Competition is fierce, with companies focusing on enhancing engine performance, reliability, and cost-effectiveness to secure contracts. While some regional variations in growth rates are expected, the overall market shows consistent expansion due to the long-term trend of increasing air travel and military modernization. The market's growth, however, is not without challenges. Supply chain disruptions, fluctuating fuel prices, and stringent environmental regulations pose significant restraints. To navigate these challenges, manufacturers are investing heavily in supply chain diversification and the development of sustainable technologies. The market's future trajectory will largely depend on the continued growth in the airline industry, geopolitical stability, and advancements in engine technology, particularly in the area of reducing emissions and noise pollution. The regional breakdown shows substantial market share in North America and Europe due to established manufacturing bases and substantial air travel demands, but growth opportunities are significant in Asia-Pacific driven by rapid economic expansion and increasing air traffic.

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Aircraft Engine Market Size 2024-2028

The aircraft engine market size is forecast to increase by USD 65.4 billion, at a CAGR of 21.1% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing number of aircraft deliveries. This trend is expected to continue as the aviation industry recovers from the pandemic-induced downturn. However, the market faces challenges in the form of the rapid adoption of new technologies, which necessitates a skilled workforce for implementation and maintenance. The scarcity of skilled resources, particularly in areas such as advanced materials and engine design, poses a significant challenge for market participants. New technologies, including electric and hybrid engines, are gaining ground, offering opportunities for innovation and competitive differentiation. Also, airlines are focusing on enhancing the flying experience for passengers by investing in advanced engine technologies, such as jet engines and turboprop engines, to improve fuel efficiency and performance.
Companies must invest in workforce development and collaborate with educational institutions to address the skills gap. Embracing these technologies and adapting to the evolving market landscape will be essential for success in the market.

What will be the Size of the Aircraft Engine Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by the relentless pursuit of improved engine materials, high-bypass ratio, and engine life extension. Fuel efficiency remains a key focus, with engine leasing and data analysis playing crucial roles in optimizing fleet performance. Manufacturers innovate through advanced engine technologies, such as hybrid-electric propulsion and engine design, pushing the boundaries of aircraft range and aircraft safety. Military aviation, short-haul flights, business aviation, and commercial aviation all benefit from these advancements. Engine monitoring systems and emissions reduction are essential for aircraft regulations compliance. Noise abatement and aircraft payload optimization are also critical considerations.

General aviation, engine repair, and the engine aftermarket cater to diverse needs. Advanced engine technologies, including fan blades, turboprop engines, sustainable aviation fuels, and Electric Aircraft, are shaping the future of aviation. Long-haul flights, engine performance, and engine innovation are at the forefront of this transformation. Thrust-to-weight ratio, engine certification, testing, and engine diagnostics are essential components of engine manufacturing. Aircraft maintenance, engine financing, and engine financing ensure optimal engine performance and airworthiness standards. Aircraft operating costs and engine upgrades are ongoing concerns for Fleet Management. Electric propulsion systems, engine replacement, engine components, and engine overhaul are integral parts of the engine life cycle.

In the ever-changing landscape of the market, engine design, aircraft range, engine life cycle, and aircraft safety are interconnected and continuously unfolding. The market's dynamism is reflected in its applications across various sectors, from military aviation to commercial aviation, short-haul flights to long-haul flights, and from engine leasing to engine financing. The ongoing evolution of engine materials, high-bypass ratio, fuel efficiency, engine life extension, and engine manufacturing will continue to shape the future of aviation.

How is this Aircraft Engine Industry segmented?

The aircraft engine industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Commercial aviation
  Military aviation


Geography

  North America

    US


  Europe

    France
    Germany
    UK


  APAC

    China


  Rest of World (ROW)

.

By Application Insights

The commercial aviation segment is estimated to witness significant growth during the forecast period.

The market is witnessing significant growth, particularly in the commercial aviation sector. This segment is driving market expansion due to the increasing number of aircraft deliveries and the rising demand for air travel worldwide. Airlines are prioritizing fuel efficiency and environmental compliance, leading to a preference for advanced turbofan engines. Manufacturers are investing heavily in research and development to create lightweight materials and innovative turbine designs, enhancing engine performance. Engine life extension and data analysis are critical trends in the market, enabling predictive maintenance and o

Aeroengine Compressor Disc Market Outlook

The global market size for aeroengine compressor discs was valued at approximately USD 2.5 billion in 2023 and is expected to reach around USD 4.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period. The increasing demand for fuel-efficient and lightweight aeroengine components is a significant growth factor propelling the market forward.

The growth of the aeroengine compressor disc market is primarily driven by advancements in aerospace technology and the increasing adoption of fuel-efficient engines. Modern aeroengines are required to perform at higher efficiencies and with reduced fuel consumption, leading to significant investments in R&D for lightweight and high-performance materials. Furthermore, the growing demand for commercial aircraft due to the rise in air travel and cargo transportation is boosting the need for advanced compressor discs. Another critical factor contributing to market growth is the increasing focus on reducing greenhouse gas emissions, which is pushing manufacturers to develop more efficient aeroengines.

Another driver of growth is the expanding military aviation sector. Governments around the world are significantly investing in upgrading their existing fleets with advanced engines, which require high-performance compressor discs. This segment is also experiencing growth due to increased defense budgets and the need for sophisticated aircraft for modern warfare. Moreover, the general aviation segment, including private jets and smaller aircraft, is also seeing an uptick in demand, further contributing to the market's expansion. The development of new materials and manufacturing processes, such as additive manufacturing, is also playing a vital role in driving market growth by enabling the production of more complex and efficient designs.

Additionally, the aftermarket segment is expected to witness substantial growth. As the global fleet of commercial and military aircraft continues to age, the demand for maintenance, repair, and overhaul (MRO) services is on the rise. This has led to an increased focus on producing durable and reliable compressor discs that require fewer replacements, thereby reducing the overall lifecycle cost of aeroengines. The continuous evolution in material science is also allowing for the development of more robust and longer-lasting components, which is advantageous for the aftermarket segment.

From a regional perspective, North America holds a significant share of the market, driven by the presence of major aerospace manufacturers and a strong emphasis on technological advancements. Europe is also a key player due to its robust aerospace sector and focus on innovation. The Asia Pacific region is expected to witness the highest growth rate due to rapid industrialization, increasing air travel, and rising defense expenditures. Latin America and the Middle East & Africa regions are also projected to grow, albeit at a slower pace, as they continue to invest in their aerospace capabilities.

Material Type Analysis

The material type segment of the aeroengine compressor disc market includes titanium alloys, nickel alloys, stainless steel, and others. Titanium alloys are the most widely used material due to their excellent strength-to-weight ratio and high corrosion resistance. These properties make titanium alloys ideal for use in high-stress environments like those found in aeroengines. The demand for titanium alloys is further driven by their ability to withstand high temperatures and their compatibility with modern manufacturing techniques such as additive manufacturing.

Nickel alloys are also a crucial material in the production of aeroengine compressor discs. Known for their superior high-temperature performance and exceptional strength, nickel alloys are commonly used in the hottest sections of the engine. The high cost of these materials is often offset by their durability and performance benefits. Continued advancements in metallurgy are expected to improve the properties of nickel alloys, making them even more attractive for use in next-generation aeroengines.

Stainless steel, while not as prevalent as titanium or nickel alloys, still holds a significant share of the market. Stainless steel is often used in applications where cost is a critical factor and where the operating conditions are less demanding. Advances in stainless steel formulations have made it more competitive, particularly in the aftermarket segment where cost-effective solutions are highly sought aft