Aircraft Engine Market Size to Grow by USD 57.07 bn | Increase in Aircraft Deliveries to Boost Market Growth | 17,000+ Technavio Research Reports
NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The "Aircraft Engine Market by Application and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the aircraft engine market between 2021 and 2026 is USD 57.07 billion. The report identifies the market to witness a decelerating CAGR of 18.83% during this period.
To get the exact yearly growth variance and the Y-O-Y growth rate, Read our Sample Report.
Key Market Dynamics:
- Market Driver
The increase in aircraft deliveries is notably driving the aircraft engine market growth. With the regional airlines using strategies such as introducing low-fare business models, the demand for air travel in the middle-class population is estimated to rise. Moreover, the year-on-year increase in air traffic has encouraged the induction of new aircraft to serve the demand.
- Market Challenges
The lack of skilled resources is a key challenge for the aircraft engine market share growth during the forecast period. A large number of resources is required to achieve desired performance on a consistent basis. The lack of skilled human resources organizations is expected to limit the aircraft engine market growth during the forecast period.
To learn about additional key drivers, trends, and challenges available with Technavio. Download Sample Report Now!
Key Market Segment Analysis:
The aircraft engine market report is segmented by Application (Commercial aviation and Military aviation) and Geography (Europe, North America, APAC, South America, and MEA). The commercial aviation application segment held the largest aircraft engine market share in 2021. The segment will continue to account for the largest share by 2026 mainly owing to surge in both general aviation and regular air travel.
Europe will be the leading region with 32% of the market's growth during the forecast period. The growth of this region can be attributed to the presence of one of the most successful aircraft manufacturing industries in Russia. The UK is the leading exporter of aerospace parts and services and accounts for approximately one-third of total exports in Europe. The manufacturing industry for aircraft, engines, and parts in the UK is the second-largest in the world after the US. The technical knowledge of the aerospace industry has progressed in a few European Union (EU) member countries like Italy, France, the UK, Germany, Sweden, and Spain. This will further drive regional growth during the next few years.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
- Airbus SE
- BMW AG
- General Electric Co.
- Honeywell International Inc.
- Mitsubishi Heavy Industries Ltd.
- MTU Aero Engines AG
- PowerJet Pressure Cleaning Systems
- Pratt and Whitney
- Safran SA
- Williams International Co. LLC
- To gain access to more vendor profiles with their key strategic initiatives in a tailor-made report, Speak to Our Analysts
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Aircraft Engine Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Decelerate at a CAGR of 18.83% |
Market growth 2022-2026 | $ 57.07 billion |
Market structure | Fragmented |
YoY growth (%) | 26.96 |
Regional analysis | Europe, North America, APAC, South America, and MEA |
Performing market contribution | Europe at 32% |
Key consumer countries | US, France, Germany, UK, and China |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Airbus SE, BMW AG, General Electric Co., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, PowerJet Pressure Cleaning Systems, Pratt and Whitney, Safran SA, and Williams International Co. LLC |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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