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).

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.

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.

Global Aircraft Engines market size is expected to reach $62.55 billion by 2029 at 3.6%, surging air passenger traffic fuels aircraft engine market growth

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Americas Aircraft Engines Market Size 2024-2028

The Americas aircraft engines market size is forecast to increase by USD 7.94 billion at a CAGR of 5.6% between 2023 and 2028.

The aircraft engines market In the Americas is experiencing significant growth due to several key factors. The region's growing urbanization and increasing global passenger traffic are driving the demand for more efficient and reliable aircraft engines, with travel trends and analytics playing a key role in shaping future innovations. Additionally, the integration of advanced technological innovations in turbofan engines is enhancing engine performance and fuel efficiency.
However, the lack of skilled labor in aircraft engine manufacturing poses a challenge to market growth. To address this issue, companies are investing in training programs and partnerships with educational institutions to develop a skilled workforce. Overall, the market is expected to witness steady growth In the coming years as these trends continue to shape the industry landscape.

What will be the size of the Americas Aircraft Engines Market during the forecast period?

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The aircraft engines market In the Americas is driven by the increasing demand for thrust and power from fan, compressor, combustor, turbine, mixer, and nozzle components in both commercial and military aircraft operations. Consumption of jet fuel remains a significant cost factor, leading to a focus on fuel efficiency and reducing carbon footprint through advanced combustion chambers and exhaust air management systems. The growth of aviation, driven by passenger traffic and air travel, fuels the demand for new and innovative aircraft engines. UAVs and unmanned aerial vehicles are also gaining traction, creating new opportunities for the aircraft engines industry. Digital technologies, including intelligent scheduling, real-time analytics, and remote working, are transforming the industry, enabling more efficient operations and maintenance.
The shift towards electric and hybrid engines is another emerging trend, as the industry explores sustainable alternatives to traditional jet fuel.

How is this market segmented and which is the largest segment?

The market 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.

Type

  Turbofan
  Turboprop
  Turboshaft
  Piston


Application

  Commercial aircraft
  Business jet
  Military aircraft


Geography

  Americas

By Type Insights

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

The aircraft engines market In the Americas is driven by the increasing demand for fuel-efficient turbofan engines. Airline profitability relies heavily on fuel consumption, making fuel efficiency a top priority for manufacturers of aircraft engines. Turbofan engines offer several advantages, including improved fuel efficiency and quieter operation, making them the preferred choice for airlines. Manufacturers are focusing on reducing carbon emissions and engine weight by developing advanced fuel-efficient engines. The growth of air traffic and aircraft orders further boosts the market. Real-time analytics, intelligent scheduling, and digital technologies are also transforming the aircraft engine manufacturing and Maintenance, Repair, and Overhaul (MRO) industries.

The regulatory environment plays a significant role in market trends, with regulations encouraging the adoption of more sustainable and efficient engine technologies. Overall, these factors are expected to fuel the growth of the aircraft engines market In the Americas during the forecast period.

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The Turbofan segment was valued at USD 13.26 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Americas Aircraft Engines Market?

Growing urbanization and increasing global passenger traffic is the key driver of the market.

The Aircraft Engines Industry In the Americas is experiencing significant growth due to increasing air passenger traffic and the expansion of various aviation sectors. The demand for more efficient aircraft is on the rise, as the number of passengers using commercial flights continues to increase. This trend is expected to drive the growth of the aircraft engines market In the region, as new and advanced engines are developed to meet the demand for fuel efficiency and reduced carbon

Global Aircraft Engines Market size valued at US$ 66.94 Billion in 2023, set to reach US$ 143.00 Billion by 2032 at a CAGR of about 8.8% from 2024 to 2032.

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).

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.

Military Aircraft Engines Market Outlook 2032

The global military aircraft engines market size was USD 10.45 Billion in 2023 and is likely to reach USD 16.37 Billion by 2032, expanding at a CAGR of 5.27% during 2024–2032. The market growth is attributed to the rising technological advancements across the globe.



Increasing technological advancements serve as a significant driver for the military aircraft engines market. In the race to achieve air superiority, nations are investing heavily in research and development to create engines that are efficient, powerful, and reliable.

Innovations in engine design and performance are propelling the market. Advancements in materials science have led to the development of lighter and durable engine components, which enhance fuel efficiency and reduce maintenance costs.



Improvements in combustion technology have resulted in engines that deliver greater power output while minimizing emissions. These technological advancements are crucial in enhancing the operational capabilities of military aircraft, thereby increasing their demand in the global defense sector.

Impact of Artificial Intelligence (AI) in Military Aircraft Engines Market

The use of artificial intelligence is anticipated to expand at a rapid pace in the military aircraft engines market. AI has revolutionized the way military aircraft engines are designed, manufactured, and maintained. It has enabled the development of efficient and reliable engines, leading to significant improvements in aircraft performance and operational efficiency.



AI-powered predictive analytics tools are being used to monitor engine performance in real-time and predict potent

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

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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

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...

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.

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.

As of May 2019, CFM International held ** percent of the narrowbody aircraft engine market, making it by far the leading engine manufacturer in the world. In 2020, the global aircraft engine MRO market is expected to reach *** billion U.S. dollars,

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 North American aircraft engines market, valued at $33.72 billion in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 7.07% from 2025 to 2033. This expansion is fueled by several key factors. The resurgence of air travel post-pandemic, coupled with increasing demand for new and more fuel-efficient aircraft, is a major catalyst. Furthermore, advancements in engine technology, such as the development of more powerful and environmentally friendly turbofan engines, are stimulating market growth. The increasing adoption of electric and hybrid-electric propulsion systems, although currently a niche segment, presents a significant long-term opportunity. Government initiatives promoting sustainable aviation and investments in aerospace research and development are also contributing to this positive outlook. Regional variations exist within North America; the United States, possessing a larger and more developed aerospace industry, holds a dominant market share compared to Canada and other Latin American countries. However, growth in Latin America is anticipated, driven by increasing air travel within the region and investments in upgrading aging fleets. The market faces certain constraints, including supply chain disruptions, increasing raw material costs, and the potential for geopolitical instability impacting international trade and collaboration in the aerospace sector. Competition in the North American aircraft engines market is intense, with major players like General Electric, Rolls-Royce, Safran, Pratt & Whitney, and Honeywell vying for market share. These established companies are leveraging their technological expertise and strong distribution networks to maintain their leadership positions. Smaller players, such as BRP-Rotax and Continental Aerospace Technologies, are focusing on niche segments and leveraging innovation to gain traction. The market's segmentation by engine type (turbofan, turboprop, turboshaft, piston) further highlights the diverse applications and technological advancements within the industry. Turbofan engines currently dominate the market, given their prevalence in large commercial and military aircraft. However, the demand for turboprop and turboshaft engines in regional and general aviation sectors provides continued opportunities for market players. Strategic collaborations, mergers, and acquisitions are expected to reshape the competitive landscape in the coming years. Recent developments include: October 2023: Sikorsky (Lockheed Martin Company) installed a new, improved turbine IITP aboard its Raider X aircraft for the US Army. The Raider X aircraft is built for the Future Attack Reconnaissance (FARA) program. Sikorsky's engineers and the US military have performed a detailed inspection of the engine after landing at Lockheed Martin's West Palm Beach facility. The plane is expected to make its first flight in late 2024., October 2023: GE Aerospace announced that the Defense Contract Management Agency approved the first two T901-GE-900 flight test engines for the US Army. These engines will support the Future Attack Reconnaissance Aircraft (FARA) Competitive Prototype program. The next-generation rotorcraft engines will power the UH-60 Black Hawk, AH-64 Apache, and FARA.. Notable trends are: Turbofan Segment is Expected to Grow with the Highest CAGR During the Forecast Period.

The America Aircraft Engines Market is Segmented by Engine Type (Turbofan, Turboprop, Turboshaft, and Piston) and Geography (North America and Latin America). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

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.