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).

Jet Engines Market Outlook

The global jet engines market size was valued at approximately USD 79 billion in 2023 and is projected to reach around USD 130 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.7% over the forecast period. This robust growth in the jet engines market is primarily driven by the increasing demand for fuel-efficient engines, advancements in engine technology, and the burgeoning growth in air travel, particularly in emerging economies. As the aerospace sector continues to evolve with innovations aimed at increasing performance and reducing environmental impacts, the jet engines market is poised for significant expansion.

One of the primary growth factors of the jet engines market is the increasing global demand for air travel, particularly in developing regions where emerging middle classes are contributing to a surge in passenger numbers. Airlines are expanding their fleets, necessitating the acquisition of more efficient and reliable jet engines. Furthermore, the resurgence of travel post-pandemic and the growing preference for air transport over other modes due to its time efficiency is likely to propel the market forward. As airlines strive to maximize profitability, there is a continuing shift towards purchasing fuel-efficient engines, which offer considerable savings on fuel costs over the lifespan of the aircraft.

Technological advancements are another significant contributor to the market's growth. Innovations such as the development of composite materials, advanced manufacturing techniques like additive manufacturing, and the integration of digital technologies for enhanced engine performance and maintenance are revolutionizing the industry. These advancements not only improve fuel efficiency but also enhance engine reliability and reduce emissions, aligning with global environmental goals. The implementation of AI and IoT in engine diagnostics and predictive maintenance is further enhancing the operational efficiency and lifespan of jet engines, supporting market growth.

Additionally, defense spending in various countries is a vital growth driver for the jet engines market. Military aviation demands high-performance engines for fighter jets, transport aircraft, and helicopters, contributing significantly to the market. Geopolitical tensions and the subsequent demand for advanced military capabilities are prompting many governments to invest heavily in modernizing their air forces, thereby boosting demand for next-generation jet engines. Moreover, the drive towards the development of supersonic commercial aircraft and urban air mobility solutions is anticipated to create new opportunities for market expansion in the near future.

Aspirated Ducted Jet Engines are an emerging technology in the aerospace sector, offering a promising avenue for enhancing engine efficiency and reducing environmental impact. These engines utilize a unique design that incorporates a ducted fan system, which helps in optimizing airflow and minimizing drag. By aspirating air through the duct, these engines can achieve higher thrust levels while maintaining lower fuel consumption, making them an attractive option for both commercial and military applications. The integration of aspirated ducted technology is aligned with the industry's goals of achieving greater sustainability and performance. As research and development in this field continue, aspirated ducted jet engines are poised to play a significant role in the future of aviation propulsion systems.

The regional outlook for the jet engines market indicates a varied growth trajectory across different geographies. North America currently holds a significant share of the market, driven by the presence of major aerospace manufacturers and a well-established aviation sector. However, the Asia Pacific region is anticipated to witness the fastest growth, supported by rising air passenger traffic, increased defense spending, and the expansion of low-cost carriers. Europe also presents substantial growth potential, particularly with the ongoing efforts towards sustainability and the development of eco-friendly aviation technologies. Meanwhile, the Middle East and Africa, with their strategic investments in aviation infrastructure and hub development, are expected to contribute to market growth.

Engine Type Analysis

The jet engines market is segmented by engine type, comprising turbojet, turbofan, turboprop, and turboshaft engines. Each engine type ser

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.

Snapshot img

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?

Request Free Sample

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.

Get a glance at the market share of various segments Request Free Sample

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

Aircraft Jet Engine Market Outlook

The global aircraft jet engine market size was valued at approximately USD 86 billion in 2023 and is projected to reach nearly USD 137 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period. This impressive growth can be attributed to several factors, including rising air passenger traffic, advancements in jet engine technology, and increased military aviation spending.

One of the primary growth factors driving the aircraft jet engine market is the rapid increase in global air passenger traffic. As more people travel by air, airlines are expanding their fleets and upgrading their existing aircraft with more fuel-efficient and powerful jet engines. This surge in air travel demand is particularly pronounced in emerging economies, where middle-class populations are growing and disposable incomes are increasing. Consequently, airlines in these regions are placing significant orders for new aircraft equipped with advanced jet engines.

Technological advancements in jet engine design and manufacturing are also contributing to market growth. Innovations such as the development of next-generation turbofan engines, which offer superior fuel efficiency and reduced emissions, are gaining traction. Additionally, the incorporation of advanced materials and additive manufacturing techniques is enhancing engine performance and durability, further driving the adoption of modern jet engines. These technological strides are essential for meeting stringent environmental regulations and achieving operational cost savings.

Another critical growth factor is increased defense spending by various countries, which is bolstering the demand for military aviation jet engines. Modernization programs aimed at upgrading military aircraft fleets are being implemented globally, leading to higher procurement of advanced jet engines. The strategic importance of maintaining air superiority and enhancing defense capabilities is prompting governments to invest heavily in new and more efficient jet engines for their air forces.

The regional outlook for the aircraft jet engine market highlights significant growth opportunities across different geographic areas. North America continues to be a dominant player, driven by the presence of major jet engine manufacturers and substantial investments in both commercial and military aviation. Meanwhile, the Asia Pacific region is experiencing rapid market growth due to increasing air travel, expanding airline fleets, and rising defense budgets. Europe, too, remains a crucial market, characterized by a strong aerospace industry and ongoing technological advancements. The Middle East & Africa and Latin America regions are also witnessing growing demand, primarily driven by emerging economies and regional connectivity initiatives.

The demand for Commercial Aircraft Engine is significantly influenced by the continuous expansion of the global aviation industry. As airlines strive to enhance their fleets with more efficient and reliable engines, the role of commercial aircraft engines becomes increasingly pivotal. These engines are designed to meet the rigorous demands of commercial aviation, offering enhanced fuel efficiency, reduced emissions, and improved performance. With the aviation sector's focus on sustainability and cost-effectiveness, commercial aircraft engines are at the forefront of technological advancements that aim to balance operational efficiency with environmental responsibility. This evolution is crucial for airlines seeking to maintain competitiveness in a rapidly changing market landscape.

Engine Type Analysis

The aircraft jet engine market is segmented by engine type into four main categories: turbofan, turbojet, turboprop, and turboshaft engines. Each of these engine types serves distinct applications within the aviation industry and has unique characteristics that make them suitable for specific uses.

Turbofan engines are the most widely used type of jet engines in commercial and military aviation. These engines are known for their high thrust-to-weight ratio, fuel efficiency, and reduced noise levels. The demand for turbofan engines is driven by the increasing number of commercial aircraft, including narrow-body and wide-body jets, which rely heavily on these engines for their long-haul capabilities. In addition, the development of next-generation turbofan engines, such as Pratt & Whitney's Geared Turbofa

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

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).

The Europe Aircraft Engines Market is segmented by Powerplant Type (Piston, Turbine), End-user (Civil and Commercial Aviation, Military Aviation), and Geography.

Jet Engines Sales Market Outlook

The global jet engines sales market size was valued at an estimated USD 78.5 billion in 2023 and is forecasted to expand to USD 110.2 billion by 2032, growing at a robust CAGR of 3.9% during the forecast period. The market growth is primarily driven by increasing air travel, advancements in technology, and rising defense expenditures across various countries. The continuous innovations in jet engine designs and the need for more fuel-efficient engines also play a significant role in propelling the market.

One of the primary growth factors for the jet engines sales market is the steady increase in global air travel demand. As emerging economies develop further, the number of air passengers has been on the rise, necessitating more aircraft and, consequently, more jet engines. The International Air Transport Association (IATA) projects a significant surge in the number of global air travelers, which is expected to nearly double by 2032. This surge is bolstered by rising disposable incomes, especially in regions like Asia Pacific, where middle-class populations are expanding rapidly.

Technological advancements have also significantly contributed to the market's growth. Innovations such as more fuel-efficient engines, better aerodynamics, and lighter materials have made modern jet engines more efficient and environmentally friendly. Manufacturers are focusing on developing engines that offer better performance while emitting fewer pollutants. The introduction of new materials, such as carbon composites, and advancements in turbine technology are expected to drive the market further. Furthermore, the development of electric and hybrid-electric aircraft engines represents a significant leap toward sustainable aviation.

Another critical factor fueling the market is the increase in defense expenditures by various countries, which has led to higher demand for military aircraft. Nations are investing heavily in modernizing their air fleets to incorporate advanced technology and improve defense capabilities. Military aviation requires sophisticated and high-performance jet engines, thereby driving the market for advanced jet engine manufacturing. Various governments are also providing significant funding for research and development activities aimed at enhancing engine performance and reducing operational costs.

The evolution of Aircraft Jet Engine technology has been pivotal in meeting the demands of modern aviation. These engines are at the heart of both commercial and military aircraft, providing the necessary thrust and efficiency required for various operations. The focus on developing engines that are not only powerful but also fuel-efficient has led to significant advancements in materials and design. Aircraft Jet Engines are now being crafted with cutting-edge technologies that allow for better performance, reduced emissions, and lower operational costs. As the aviation industry continues to grow, the role of these engines becomes increasingly critical, driving further innovation and investment in this sector.

On a regional basis, North America currently dominates the jet engines sales market, accounting for the largest market share due to the presence of major players and high defense spending. Europe also holds a significant market share, driven by technological advancements and robust commercial aviation activities. The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to increasing air travel, rising defense budgets, and rapid economic development. The Middle East & Africa and Latin America are also emerging markets with considerable potential, attributed to expanding aviation sectors and investments in infrastructure.

Turbofan Analysis

Turbofan engines are the most widely used jet engines in commercial aviation due to their high fuel efficiency and thrust capabilities. These engines are predominantly installed in large commercial aircraft, making them a central component of the aviation industry's backbone. The demand for turbofan engines is expected to grow significantly, driven by the increasing number of commercial flights and the need for more efficient engines. Recent innovations, such as geared turbofans, have further optimized fuel consumption and reduced noise, making them highly desirable for commercial airlines.

The rise in urbanization and the subsequent increase in air passenger traffic have g

Get key insights from Market Research Intellect's Jet Engines Market Report, valued at USD 80 billion in 2024, and forecast to grow to USD 120 billion by 2033, with a CAGR of 5.2% (2026-2033).

Military Jet Engine Market Outlook

The military jet engine market size is expected to reach $XX billion by 2032, up from $YY billion in 2023, growing at a compound annual growth rate (CAGR) of Z% during the forecast period. This promising growth is driven by several factors, including increased defense spending, technological advancements, and the rising geopolitical tensions across various regions, which necessitate the modernization of military fleets.

One of the primary growth factors for the military jet engine market is the significant increase in global defense budgets. Major economies like the United States, China, and India are continuously ramping up their military expenditure to enhance their aerial combat capabilities. This surge in spending has led to increased procurement and development of advanced military jet engines. Many countries are focusing on next-generation jet engines that promise higher performance, efficiency, and reliability, thus driving the market's expansion.

Technological advancements in jet engine design and manufacturing are another critical driver for market growth. Innovations such as additive manufacturing, advanced materials, and propulsion technologies are enabling the development of more efficient and powerful engines. These technologies help in reducing the overall weight of the aircraft, improving fuel efficiency, and increasing the thrust-to-weight ratio. Moreover, advancements in hybrid and electric propulsion systems are opening new avenues for sustainable and energy-efficient military jet engines.

Geopolitical tensions and regional conflicts are compelling several countries to upgrade their air force capabilities. The modernization of existing military aircraft fleets and the development of new fighter jets necessitate the inclusion of state-of-the-art jet engines. Countries in volatile regions are particularly focused on enhancing their aerial defense systems to ensure national security. This ongoing arms race is expected to contribute significantly to the market's growth over the forecast period.

From a regional perspective, North America is anticipated to hold the largest market share due to its substantial defense budget and the presence of leading aircraft and engine manufacturers. Asia Pacific is also expected to witness significant growth, driven by increasing defense expenditures in countries like China and India. Europe, Latin America, and the Middle East and Africa are also projected to see steady growth, supported by modernization initiatives and strategic defense partnerships.

Engine Type Analysis

Within the military jet engine market, engine type is a vital segment that includes turbojet, turbofan, turboshaft, and turboprop engines. Turbojet engines, being the oldest and most straightforward jet engines, have primarily been used in early military aircraft. However, despite their high speed and thrust capabilities, turbojets are gradually being phased out in favor of more advanced engines due to their lower fuel efficiency and higher noise levels.

Turbofan engines represent the most commonly used engine type in modern combat aircraft. They offer a balanced combination of high thrust and fuel efficiency, making them ideal for both fighter jets and larger military transport aircraft. Turbofans are designed to operate efficiently across a wide range of speeds and altitudes, which enhances the versatility of the aircraft they power. This adaptability has led to increased investments in the development and production of advanced turbofan engines, contributing significantly to the market's growth.

Turboshaft engines are primarily used in helicopters and unmanned aerial vehicles (UAVs). These engines are known for their high power-to-weight ratio and reliability, which are crucial for rotary-wing aircraft operating in diverse and demanding environments. The rising use of military helicopters for various missions, including search and rescue, medical evacuation, and close air support, is driving the demand for turboshaft engines. Additionally, the growing application of UAVs in reconnaissance, surveillance, and combat operations is further boosting this segment.

Turboprop engines, while less common in modern military jets, are still used in specialized aircraft that require short takeoff and landing capabilities. These engines are highly efficient at lower speeds and altitudes, making them suitable for tactical and transport aircraft. The demand for turboprop engines is driven by their operational efficiency and the ne

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.

The global jet engine market is poised for significant growth, projected to reach $80.47 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 5.7% from 2025 to 2033. This robust expansion is driven by several key factors. The increasing demand for air travel, particularly in emerging economies, fuels the need for new and more fuel-efficient aircraft, directly impacting jet engine demand. Furthermore, advancements in engine technology, such as the development of more efficient turbofan engines and the integration of advanced materials, contribute to improved performance and reduced operating costs, stimulating market growth. Military modernization programs across the globe also represent a significant driver, as nations invest in upgrading their air forces with advanced aircraft equipped with cutting-edge jet engines. Competition among major players like GE Aviation, Pratt & Whitney, Rolls-Royce, and Safran further accelerates innovation and drives down costs, benefiting both commercial and military sectors. While growth is expected, the market faces some challenges. Fluctuations in fuel prices and geopolitical uncertainties can influence airline investment decisions and potentially impact demand. Stringent environmental regulations aimed at reducing aircraft emissions necessitate ongoing technological advancements and significant investment in research and development. However, the industry is proactively addressing these concerns through the development of more sustainable and environmentally friendly engine technologies. The segmentation of the market, encompassing various engine types (turbojet, turbofan, turboprop) and applications (commercial and military aircraft), offers diverse growth opportunities across different geographic regions. The robust demand from the Asia-Pacific region, fueled by rapid economic growth and expanding air travel infrastructure, is anticipated to be a major contributor to overall market expansion. This report provides an in-depth analysis of the global jet engine market, valued at over $100 billion in 2023, projecting significant growth to surpass $150 billion by 2030. This detailed study examines market dynamics, key players, and future trends impacting this vital sector of aerospace. Keywords: Jet Engine Market, Turbofan Engine, Turboprop Engine, Turbojet Engine, Commercial Aircraft Engines, Military Aircraft Engines, GE Aviation, Pratt & Whitney, Rolls-Royce, Safran, Aerospace Market.

Snapshot img

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.
Request Free Sample

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

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.

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 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.

Ducted Jet Engines Market Outlook

The ducted jet engines market size is projected to reach USD 135 billion by 2032, up from USD 80 billion in 2023, growing at a CAGR of 5.8%. This growth is primarily driven by advancements in aerospace technology and rising demand for fuel-efficient engines. The increasing number of air passengers coupled with the expansion of airline fleets worldwide is significantly contributing to market growth.

Several growth factors contribute to the market's expansion. Firstly, the resurgence in air travel post the COVID-19 pandemic has stimulated the demand for newer, more efficient aircraft engines. Airlines are modernizing their fleets to incorporate fuel-efficient and environmentally-friendly engines to comply with stringent emission regulations. Additionally, governments around the world are investing heavily in aviation infrastructure, which encompasses the development of advanced jet engines. Technological innovations, such as composite materials and advanced cooling techniques, are also playing a crucial role in enhancing the performance and efficiency of ducted jet engines.

Another significant factor propelling the market is the military sector's continued investment in advanced jet engines. With increasing geopolitical tensions and the need for superior air defense capabilities, military forces globally are prioritizing the upgrade of their aviation fleets. Modern military jet engines are designed to offer superior thrust, reduced radar detection, and enhanced fuel efficiency, which are critical in modern warfare. Furthermore, collaborations between defense contractors and engine manufacturers are driving innovations in this sector, further bolstering market growth.

The rise of low-cost carriers and regional airlines is also a critical driver. These airlines are expanding their reach to previously underserved markets, necessitating the purchase of new aircraft equipped with efficient ducted jet engines. Growth in tourism, especially in emerging markets, is another contributing factor. As disposable incomes rise in regions such as Asia Pacific and Latin America, more people are opting for air travel, thereby boosting the demand for new aircraft and engines.

Regionally, North America and Europe are leading the market due to their established aerospace industries and the presence of major aircraft manufacturers. However, the Asia Pacific region is expected to witness the highest growth rate, driven by rising disposable incomes, expanding middle-class population, and increasing investments in aviation infrastructure. Latin America and the Middle East & Africa are also emerging as significant markets, thanks to their growing economies and strategic initiatives to enhance connectivity and tourism.

The commercial aviation sector is a significant driver for the ducted jet engines market, and within this sector, Commercial Jet Engines play a pivotal role. These engines are the backbone of the airline industry, providing the necessary thrust and efficiency required for long-haul flights. As airlines strive to meet increasing passenger demand and reduce operational costs, the adoption of advanced commercial jet engines becomes crucial. These engines are designed to offer superior fuel efficiency and reduced emissions, aligning with the industry's sustainability goals. Moreover, ongoing innovations in engine technology are enabling airlines to enhance their fleet performance, thus supporting the market's growth trajectory.

Engine Type Analysis

Under the engine type segment, turbojet engines are witnessing a resurgence, particularly for military applications. Turbojets are known for their high-speed performance, making them ideal for fighter jets and reconnaissance aircraft. Innovations in materials science, such as the use of advanced composites and high-temperature alloys, are enhancing the durability and performance of turbojet engines. Additionally, the increasing focus on supersonic and hypersonic travel is driving research and development efforts in this segment, promising exciting advancements in the near future.

Turbofan engines dominate the commercial aviation sector due to their superior fuel efficiency and reduced noise levels. These engines are continually evolving to meet the stringent environmental regulations imposed by governing bodies worldwide. The introduction of geared turbofan technology has marked a significant milestone, offering substan