Press Releases

The global Aircraft Engine Market is projected to grow from USD 73.4 billion in 2023 to USD 112 billion in 2030 at a CAGR of 7.9% during the forecast period from 2025 to 2030.

During the pandemic of 2020 the aviation industry face lot of crisis due to deficiency in passenger demand. Lately the market recovered. Rising aviation passenger traffic will add upon the expansion of the aircraft engine market over the forecast period. Also there is increase in the demand for new generation engines with low emissions and light weight, which will enhance aircraft fuel efficiency

Various companies are investing in research and development of new engine models with the latest technologies, which will boost the aircraft engine market. However, high maintenance cost of aircraft engines, failure of aircraft engines during operation and delays in deliveries are the factors affecting the market's growth over the forecast period.

Browse 75 market data Tables and 45 Figures spread through 192 Pages and in-depth TOC on "Aircraft Engine Market by Engine Type (Turbofan, Turboprop, Turboshaft and Piston), by Component (Compressor, Turbine, Gear Box, Exhaust, Nozzle and Fuel System), by Platform Type (Fixed Wing, Rotary Wing and Unmanned Aerial Vehicle - UAV), by Technology Type (Conventional and Hybrid), by End-User (Commercial, Military and General Aviation), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America) - Global Forecast to 2030

Global Aircraft Engine Market Segmentation and Key Players

By engine type, turbofan dominate the global aircraft engine market.

On the basis of engine type, the Aircraft Engine Market is segmented into turbofan, turboprop, turboshaft, and piston. Turbofan segment is likely to dominate the market because of its capability of flying at the higher altitude compared to other engines. 

“The Asia-Pacific (APAC) is expected to register the fastest CAGR during the forecast period, i.e., 2025-2030 in the aircraft engine market.”

The Asia Pacific is expected to dominate the aircraft engine market due to its growth over the forecast period. The increase in demand for domestic air travel and investments by the countries to strengthen their aerial capabilities shall probably result into the growing demand for light weight and fuel efficient motors in the coming years.

Major key players in this market include General Electric Company (US), Pratt & Whitney (US), Rolls Royce (UK), Honeywell International Inc (US), Textron Inc. (US), IHI Corp., Mitsubishi Heavy Industries Aero Engines Ltd, MTU Aero Engine (Germany), IAE International Aero Engines AG (US), Raytheon Technologies Corporation (US), Boeing (US), United Technologies Corporation (US), Hindustan Aeronautics Limited (India), Rostec

Recent developments by Key Players

Recently, Rostec has delivered the First Batch of Import-Substituted Spark Plugs for SaM146 Aircraft Engines. “SaM146 engines are real workhorses that are widely used on the SSJ-100 jets by Russian airlines. The company created, tested and manufactured these products in the shortest possible time, and delivered the first batch to the operators

Mitsubishi Heavy Industries Aero Engines, Ltd. (MHIAEL), a group company of Mitsubishi Heavy Industries, Ltd. (MHI), has completed its first maintenance of the PW1100G-JM aero engine for the Airbus A320neo family. The company is working to meet MRO needs for the PW1100G-JM as there is steady increase in demand. The engines are more fuel efficient with less noise than conventional engines. MHIAEL is also contributing to development and production by developing these aero engines.

Global Aircraft Engine Market Coverage (By Value)

• Engine Type Insight and Forecast 2025-2030
  • Turbofan
  • Turboprop
  • Turboshaft
  • Piston

• Component Insight and Forecast 2025-2030

  • Compressor
  • Turbine
  • Gear Box
  • Exhaust
  • Nozzle
  • Fuel System
• Platform Type Insight and Forecast 2025-2030
  • Fixed wing
  • Rotary wing
  • Unmanned Aerial Vehicle (UAV)
• End-user Type Insight and Forecast 2025-2030
  • Commercial
  • Military
  • General Aviation

Geographical Segmentation

Global Aircraft Engine Market by Region

• North America

  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Turkey
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA