The Aircraft Engine 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 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 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.

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.

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 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.

The aircraft engine market can be segmented by engine type and aircraft type. Engine Type:

Turbofan engines are the most common type of aircraft engine. They are used in both commercial and military aircraft. Turbofan engines are more efficient than other types of engines, and they produce less noise. Turboprop engines are used in smaller aircraft, such as regional airliners and business jets. Turboprop engines are less efficient than turbofan engines, but they are more powerful. Turboshaft engines are used in helicopters. Turboshaft engines are similar to turboprop engines, but they produce more power. Piston engines are used in small aircraft, such as private planes and ultralights. Piston engines are less powerful than other types of engines, but they are more affordable.

Aircraft Type:

Commercial aircraft are used to transport passengers and cargo. Commercial aircraft are the most common type of aircraft, and they account for the majority of aircraft engine sales. Military aircraft are used for combat and other military purposes. Military aircraft are typically equipped with more powerful engines than commercial aircraft. Business and general aviation aircraft are used for private and business purposes. Business and general aviation aircraft are typically smaller than commercial or military aircraft. Recent developments include: In April 2024, Rolls-Royce announced that IndiGo had placed an order for 60 Trent XWB-84 engines, marking their first agreement with the prominent Indian airline. The deal included Rolls-Royce's TotalCare service for engine health and maintenance. The engines from this order were intended to support IndiGo's expansion efforts, especially on international routes, bolstering the airline's operational capabilities. , In May 2024, Pratt & Whitney inaugurated its new manufacturing facility, Pratt & Whitney Maroc (PWM), dedicated to producing precision machined parts for aircraft engines like the PT6. The investment underscored confidence in Morocco's industrial capabilities, enhancing the country's aeronautical sector with advanced technological capabilities and contributing to its competitive edge in global aerospace manufacturing. , In June 2024, Safran Helicopter Engines and MTU Aero Engines collaborated to establish EURA, a 50/50 joint venture named after the European Military Rotorcraft Engine Alliance. The venture aimed to lead a broader program involving industrial and technological partners from multiple European countries. This strategic initiative marked a significant milestone in enhancing European aerospace capabilities through collaborative innovation and industrial cooperation. .

The global commercial aircraft engines market is booming, projected to reach $166.7 billion by 2033 with a 13.02% CAGR. Discover key drivers, trends, and leading companies shaping this dynamic industry. Learn more about regional market share and future growth projections. Key drivers for this market are: Increase in Internet of Things (IoT) and Autonomous Systems, Rise in Demand for Military and Defense Satellite Communication Solutions. Potential restraints include: Cybersecurity Threats to Satellite Communication, Interference in Transmission of Data. Notable trends are: Wide-Body Aircraft Segment is Anticipated to Grow with the Highest CAGR During the Forecast Period.

The global aircraft engine market, valued at $40.76 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 21.1% from 2025 to 2033. This significant expansion is driven by several key factors. The increasing demand for air travel, particularly in emerging economies, fuels a surge in aircraft production, directly impacting the need for new and replacement engines. Furthermore, advancements in engine technology, focusing on improved fuel efficiency, reduced emissions, and enhanced performance, are driving market growth. The rising adoption of more fuel-efficient engines is a crucial trend, spurred by increasing fuel costs and stringent environmental regulations. Stringent safety regulations and the complexity of engine manufacturing act as restraints on market growth, demanding significant investments in research and development and sophisticated manufacturing processes. The market is segmented by application, primarily encompassing commercial and military aviation, with commercial aviation currently holding a larger market share. Key players like Airbus SE, General Electric, Pratt & Whitney, and Safran SA are engaged in intense competition, employing various strategies such as mergers and acquisitions, strategic partnerships, and technological innovations to gain a competitive edge. The regional distribution of the market shows significant contributions from North America and Europe, with the Asia-Pacific region exhibiting substantial growth potential due to increasing air travel demand in countries like China and India. The forecast period (2025-2033) promises continued market expansion. While the precise contribution of each segment (commercial vs. military) and region requires more granular data, the overall market trajectory indicates a substantial increase in market size. The competitive landscape will remain dynamic, with companies focusing on technological advancements to improve engine performance and efficiency while navigating the challenges of stringent regulations and high production costs. The market's sustained growth hinges on continued investment in research and development, a steady rise in global air travel, and a supportive regulatory environment that encourages innovation within the aerospace sector.

The global aircraft engine market, valued at $82.96 billion in 2025, is projected to experience robust growth, driven by a burgeoning aviation industry, increasing air travel demand, and technological advancements leading to more fuel-efficient and powerful engines. The Compound Annual Growth Rate (CAGR) of 6.06% from 2025 to 2033 indicates a significant expansion, with the market expected to surpass $130 billion by 2033. Key drivers include the rising demand for new aircraft, particularly in emerging economies, the increasing adoption of narrow-body and wide-body aircraft, and the growing focus on reducing carbon emissions through improved engine technology. Furthermore, the replacement of aging aircraft engines is creating a substantial market opportunity. While some restraints exist, such as supply chain disruptions and potential geopolitical instability, the overall market outlook remains positive. The market segmentation likely encompasses various engine types (e.g., turbofan, turboprop, turbojet), aircraft size (e.g., narrow-body, wide-body), and application (e.g., commercial, military). Major players such as General Electric, Safran, Rolls-Royce, RTX, and Honeywell dominate the market, leveraging their technological expertise and established supply chains to maintain a strong competitive advantage. The competitive landscape is marked by intense R&D investment to develop advanced engine technologies focusing on fuel efficiency, noise reduction, and emissions control. This technological evolution is a significant factor shaping market dynamics, driving innovation, and fostering collaboration among manufacturers and suppliers. The continued growth in air travel, particularly in Asia-Pacific and other developing regions, presents vast expansion opportunities for market players. Strategic partnerships, mergers, and acquisitions are likely to increase as companies strive to gain a larger share of this lucrative and rapidly evolving market. The market’s trajectory is closely linked to the broader macroeconomic factors influencing global air travel, including economic growth, fuel prices, and governmental regulations. Sustained growth in these areas will be crucial for further market expansion in the forecast period. Recent developments include: October 2023: Sikorsky (Lockheed Martin Company) was in the process of installing a new Improved Turbine IITP aboard its Raider X aircraft for the United States Army. The Raider X aircraft was built for the Future Attack Reconnaissance (FARA) program. Sikorsky's engineers and the US military 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 the approval of the first two T901-GE-900 flight test engines by the Defense Contract Management Agency to the US Army, which was to support the Future Attack Reconnaissance Aircraft (FARA) Competitive Prototype program. The next-generation rotorcraft engines were to power the UH-60 Black Hawk, AH-64 Apache, and FARA.. Notable trends are: Commercial Aviation to Dominate the Global Market Share During the Forecast Period.

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.

Market Dynamics of Small Aircraft Engine Market

Key Drivers for Small Aircraft Engine Market

Increasing Demand for General Aviation and Private Air Travel: The rising interest in leisure flying and ownership of private aircraft is propelling the purchase of small aircraft. This expansion stimulates the need for efficient, lightweight, and dependable small aircraft engines.

Expansion of Pilot Training Schools and Flight Academies: A worldwide increase in pilot training initiatives is enhancing the utilization of small training aircraft. These aircraft necessitate robust engines with minimal operational expenses, thereby sustaining steady market demand.

Technological Progress in Engine Efficiency and Weight Reduction: Recent engine innovations emphasize fuel efficiency, noise reduction, and enhanced power-to-weight ratios. Developments such as electronic fuel injection and turbocharging improve overall performance.

Key Restraints for Small Aircraft Engine Market

High Initial Costs and Maintenance Requirements: Engines for small aircraft require a considerable initial investment and continuous maintenance. The overall ownership cost may dissuade potential buyers and operators with limited budgets.

Strict Regulatory Approvals and Certification Procedures: Aviation engines are required to comply with stringent airworthiness and safety regulations prior to their deployment. Delays in certification and compliance expenses can impede quicker product development and market entry.

Limited Infrastructure and Skilled Workforce in Emerging Markets: In areas with underdeveloped aviation industries, the availability of maintenance services and qualified technicians is restricted. This limitation hampers the utilization of small aircraft and slows the demand for engines.

Key Trends for Small Aircraft Engine Market

Electrification and Hybrid Propulsion in Light Aircraft: Manufacturers are investigating electric and hybrid engines to minimize emissions and noise. These technologies are becoming increasingly popular in the ultralight and training aircraft sectors.

Adoption of Digital Engine Monitoring and Predictive Maintenance: Contemporary small aircraft engines are now equipped with integrated diagnostic and monitoring systems. These technologies enhance flight safety and decrease unplanned downtime through early fault detection.

Customization and Modular Engine Platforms for Diverse Aircraft Types: Engine makers are offering modular designs that can be adapted for UAVs, air taxis, and sport planes. This flexibility supports emerging aviation trends and diversified market applications.

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

The COVID-19 pandemic significantl...

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).

The commercial aircraft engine market is booming, projected to reach $550.1 million in 2025 and grow at a CAGR of 5.7% through 2033. Discover key drivers, trends, and leading companies shaping this dynamic sector. Learn more about market size, growth forecasts, and regional insights.

In 2020, CFM International held ** percent of the commercial aircraft engine market in North America. General Electric Aviation came third, with ** percent of the North American market.

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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 optimizing

The Aircraft, Engine and Parts Manufacturing industry’s revenue is forecast to dip at a compound annual rate of 2.8% to £39.9 billion over the five years through 2024-25, including an estimated revenue jump of 0.4% in 2024-25. The industry has been swiftly recovering from the pandemic-induced slump in 2020-21. The industry is a major investment, research and development source for global aircraft production. Orders for aircraft and related equipment are typically placed years in advance, meaning deliveries are relatively stable and can curb economic headwinds. A big backlog of orders held by Airbus and Rolls Royce has aided deliveries and revenue in recent years. Revenue plunged in 2020-21 due to the pandemic, leading to a near standstill in global travel. Commercial airlines cancelled or deferred orders as most of their fleet was grounded. Airbus reported that deliveries fell to 566 in 2020, notably lower than the 863 delivered in 2019. Revenue began bouncing back in 2021-22 as commercial orders recovered due to rising air passengers. Airbus recorded its most successful year ever in 2023, reporting 2,094 gross new orders for aircraft, signalling the companies robust financial health. Revenue is forecast to expand at a compound annual rate of 5.5% to £52.2 billion over the five years through 2029-30. Growing international competition is projected to squeeze profit. The ongoing Russia-Ukraine war and changing US policies in Europe are causing a sharp surge in defence spending in the continent over the coming years as European countries are enhancing their security and pursuing security independence from the US. Rejuvenated public spending on defence will drive revenue for Airbus, Rolls Royce and BAE Systems, major European defence contractors. Global air travel will continue to soar, generating aircraft maintenance and replacement orders. With growing environmental concerns, the development of greener jets will be at the forefront of aircraft making. Established manufacturers with the scope to invest heavily in green tech are best placed to take advantage, but it will be an opportunity for new competitors to gain a foothold in the market, especially from high-tech regions like East Asia.

Commercial Aircraft Engine Market Outlook

The global commercial aircraft engine market size was valued at approximately USD 81 billion in 2023 and is projected to reach around USD 130 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period. This growth is primarily driven by the increasing demand for new-generation fuel-efficient aircraft, advancements in aviation technology, and the burgeoning air travel industry. The commercial aviation sector is poised for substantial growth due to rising disposable incomes, globalization, and heightened connectivity, all of which contribute to the increasing number of air travelers worldwide.

One of the primary growth factors in the commercial aircraft engine market is the significant technological advancements in engine design and manufacturing. The development of more efficient, quieter, and environmentally friendly engines is a major driver. Manufacturers are investing heavily in research and development to produce engines that consume less fuel and emit fewer pollutants, meeting stringent environmental regulations. These technological advancements not only enhance the performance and efficiency of aircraft but also reduce operational costs for airlines, making new engine technologies highly attractive.

The rising demand for air travel, particularly in emerging economies, is another crucial growth factor. Countries in the Asia Pacific and Latin America regions are experiencing rapid economic growth, leading to increased disposable incomes and a burgeoning middle class. This has resulted in a surge in air travel demand, necessitating the expansion of airline fleets. Airlines are increasingly investing in newer, more efficient aircraft to cater to this growing passenger base, thereby driving the demand for commercial aircraft engines.

Additionally, the growing focus on sustainability and reducing carbon footprints is fostering the development of green aviation technologies. Governments and regulatory bodies worldwide are imposing stricter emissions regulations, pushing the aviation industry to adopt cleaner technologies. The introduction of biofuels and hybrid-electric propulsion systems in aircraft engines is a significant step towards achieving sustainability goals. This trend is expected to further boost the demand for next-generation aircraft engines that are not only efficient but also environmentally friendly.

Wide-body Aircraft Engine technology is a critical component in the aviation industry, particularly for long-haul international flights. These engines are designed to power larger aircraft that carry more passengers and cargo over extended distances. The development of wide-body aircraft engines focuses on enhancing fuel efficiency and reducing emissions, aligning with the industry's sustainability goals. Innovations in materials and aerodynamics contribute to the improved performance of these engines, making them a preferred choice for airlines operating intercontinental routes. As the demand for international travel grows, the need for advanced wide-body aircraft engines continues to rise, driving further research and development in this segment.

Regionally, the Asia Pacific is anticipated to witness the highest growth rate in the commercial aircraft engine market. The region's rapid economic development, coupled with increasing urbanization and a burgeoning middle class, is driving the demand for air travel. North America and Europe also hold significant market shares, given the presence of major aircraft manufacturers and established airline networks. The Middle East & Africa and Latin America are expected to witness moderate growth, driven by economic development and increasing tourism. Overall, the global commercial aircraft engine market is poised for robust growth, supported by technological advancements, rising air travel demand, and a growing focus on sustainability.

Engine Type Analysis

The commercial aircraft engine market is segmented by engine type into turbofan, turboprop, turboshaft, and piston engines. Turbofan engines dominate the market due to their widespread use in commercial aviation, particularly in large passenger and cargo aircraft. These engines offer a high thrust-to-weight ratio, fuel efficiency, and lower noise levels, making them ideal for long-haul flights. The development of advanced turbofan engines with higher bypass ratios further enhances their efficiency and performance, leading to their con

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 booming commercial aircraft engine market, valued at $50 billion in 2025, is projected to reach $75 billion by 2033, driven by rising air travel, fuel efficiency demands, and technological advancements. Explore key players, market trends, and regional growth in this comprehensive analysis.