The Global Aircraft Engines Market Size is projected to reach USD 85.44 billion by the end of 2027. The increasing investments in technological integration will play a huge role in the growth of the market in the coming years. The presence of several large scale companies across the world will have a huge impact on the growth of the overall market. According to a report published by Fortune Business Insights, titled “Aircraft Engine Market Size, Share & Industry Analysis, By Engine Type (Turboprop, Turboshaft, Turbofan, and Piston Engine), By Technology (Conventional Engine, Electric/Hybrid Engine), By Component (Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel System, and Others), By End-Use (Commercial and Military), and Regional Forecast, 2020-2027,
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Aircraft engines are products that are associated with any type of propulsion system in the aircraft and are the power component for the entire system. These engines are responsible for the performance of the aircraft and are directly proportional to the operating efficacies of the engine with regard to speed, propulsion, thrust, and flight. The massive investments in the development of efficient aircraft engine will have a massive impact on the growth of the overall aircraft engine market in the coming years. The presence of several large scale manufacturers will also emerge in favor of the growth of the overall market in the foreseeable future.
List of companies profiled in the report:-
- CFM International SA (Paris, France)
- Honeywell International Inc. (North Carolina, The U.S.)
- GE Aviation (Ohio, The U.S.)
- Rolls-Royce Holdings Plc. (London, The U.K.)
- Safran SA (Paris, France)
- International Aero Engines AG (Connecticut, The U.S.)
- MTU Aero Engines AG (Munich, Germany)
- Textron Inc. (Rhode Island, The U.S.)
- United Technologies Corporation (Connecticut, The U.S.)
Reduction in Production Rates during the Covid-19 Pandemic will have a Negative Impact on Market Growth:-
The recent coronavirus outbreak has created a sense of panic across the world. Accounting to the increasing cases of coronavirus and the rapid spread of the disease, governments across the world have been compelled to impose strict lockdowns and advise social distancing practises. The efforts taken to curb the spread of the disease, although for the brighter cause, have had a negative impact on the aircraft engine market. The reduction in production rates as well as capacities will prove denting to the overall market in the coming years.
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Key Questions Answered:-
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
North America to Emerge Dominant; Presence of Several Large Scale Companies will Aid Market Growth:-
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The product applications have provided the platform for the companies operating in the market. The presence of several large scale companies will also bode well for the growth of the market in this region. As of 2019, the market in North America was worth 29.01 billion and this value is projected to increase at a considerable pace in the coming years. The market in Asia Pacific will rise at the highest CAGR in the coming years, driven by the increasing aircraft production in several countries across this region.
April 2020 – GE Aviation announced that it has bagged a contract from the US Air Force. The contract is said to be worth USD 707 million and is aimed at building F110 turbofan fighter aircraft engines for Slovakia, Taiwan, Bulgaria, and Qatar.
Aircraft Engine Market was worth 74.76 USD billion and will exhibit a CAGR of 11.53% during the forecast period, 2020-2027. Aircraft Engine Industry Technological advancements in manufacturing processes as well as the equipment used in the production side will bode well for market growth.
Browse Detailed Summary of Research Report With TOC:
Global Aircraft Engine Market-Industry Objectives:-
- A comprehensive summary of several areas: Growth Drivers, Opportunities, Size, Share.
- Exhaustive information about new products launch, scope, application and uses.
- Complete Assessment of geographies, recent developments, and investments.
- Throughout analysis of regional & global market with necessary information to take critical decisions.
- The extensive spectrum of analysis regarding the impact of these advancements on the future of market growth.
- Comprehensive information on the product portfolios of the top players and Competitive analysis.
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