25th February 2024

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Aircraft Turbofan Engine Market Is Expected To Grow at a






Farmington, Feb. 23, 2023 (GLOBE NEWSWIRE) — The Global Aircraft Turbofan Engine Market Is Expected to Register CAGR of Around 7.35% during the Forecast Period 2022 To 2030. Planes often move forward with the help of a turbofan engine. In other words, it is also called the modern version of basic gas turbine engines. Fans and fan turbines are made up of different shafts and blades that are connected to each other. It is also called the two-spool engine because of how it is made. More spools are used in many modern turbofan engines to make them more efficient and flexible. It is also a type of jet engine that runs on air, and during the research period, the Aircraft Turbofan Engine Market Growth was higher.

Most of the time, turbofan engines are used in different types of planes because they have many advantages that turboprop and turbojet engines don’t. There are two kinds of turbofan engines: high bypass engines and low bypass engines. High bypass engines are used in most commercial jet engines, while low bypass engines are mostly used in military jet engines. Also, a turbofan engine’s heart is made up of high and low pressure compressors, a combustor, and several stages of turbines. In this case, the bypass ratio shows how well the engine works.

Request Sample Copy of Report “Aircraft Turbofan Engine Market Size, Share & Trends Estimation Report By Aircraft Type (Narrowbody, Widebody, and others), Application (Commercial air transport and Military aviation), By Turbofan Engine (CFM56, PW4000, GEnx, Trent 1000, PW1000, CFM LeapX, GP7000, F135, F414, and V2500), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.

Recent Developments:

  • In March 2020, Air India Engineering Services Ltd (AIESL) and Pratt & Whitney have teamed up to maintain 4,056 engine models. AIESL is assigned to maintain the company’s geared turbofan engines in India.

Segment Overview

Turbofan Engine Insights:

The Aircraft Turbofan Engine Market Analysis report divides the global market into PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, and F135.

During the research period, the CFM56 engine segment is expected to make the most money and grow the fastest of all of them.

Aircraft Type Insights:

The global Aircraft Turbofan Engine Market is divided into wide-body, narrow-body, and other segments based on the type of aircraft.

Here, it was expected that the narrow-body aircraft segment would have the biggest share of the aircraft turbofan engine market in 2018, with 39.65%, and that it would grow at an annual rate of 8.69% during the research period.

Application Insights:

The global market for aircraft turbofan engines is split into two parts: the military aviation segment and the commercial air transport segment.

In 2018, most of the aircraft turbofan engine market is likely to come from the commercial air transport segment. This market is growing because there are more and more business fleets all over the world.

Regional Outlook:

During the time frame of the forecast, most sales of turbofan engines for aeroplanes are expected to take place in North America. There is a growing need for both commercial and military aircraft because there is more air travel around the world, especially in the U.S. This has made this local business grow.

Latin America is thought to be a possible opportunity area because countries like Brazil and Argentina are investing more and more in defence equipment and modernization programmes. Countries like Colombia are also becoming more important because they have a lot of private airlines that might want to grow (Finance). This will increase demand in Latin America over the next few years.

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Scope of Report:

Report Attributes Details
Growth Rate CAGR of 7.35% from 2023 to 2030.
By Turbofan Engine PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, F135, Other
By Application Military Aviation, Commercial Air Transport, Others
By Aircraft Type Wide Body, Narrow Body, Others
By Companies  Pratt & Whitney (US), GE Aviation (US), Rolls Royce (UK), CFM International (US), Honeywell International (UK), EuroJet (US), Aviadvigatel (Russia), Safran Aircraft Engines (France), International Aero Engines AG (US), MTU Aero Engines (Germany), Engine Alliance (US)
Regions and Countries Covered
  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America(Brazil, Argentina, Rest of Latin America)
  • Rest Of the World
Base Year  2022
Historical Year  2017 to 2022
Forecast Year  2023 to 2030

Drivers:

The Aircraft Turbofan Engine Market is growing and changing because turbofan engine technology is getting better, there are more planes that use less fuel, and people want planes that are lighter. The growth of the global market is also helped by the fact that more and more commercial planes are flying.

In 2018, the UK government proposed a fund of $392,7 million for research and development of electric planes and technology. This has made the world market grow even more. Also, during the time of the research, the Aircraft Turbofan Engine Industry Outlook is expected to have a higher rate of market growth.

Restraints:

The backlogs of Boeing and Airbus SAS for fuel-efficient planes could slow the growth of the global aircraft turbofan engine market.

Also, tight government rules and slowing economic growth can be big problems for the global market for aircraft turbofan engines.

Opportunities:

Aircraft Turbofan Engines are being used in the military and in business more and more. This could give the global Aircraft Turbofan Engine Market more chances to grow. Also, as turbofan engine technology gets better, it gives manufacturers and key players in the global market more chances to make money.

So, there are more opportunities, and the major players are working hard to boost the growth of the Aircraft Turbofan Engine Market in the coming years by using new strategies and marketing ideas.

Key Segments Covered:

Top Market Players:
Pratt & Whitney (US), GE Aviation (US), Rolls Royce (UK), CFM International (US), Honeywell International (UK), EuroJet (US), Aviadvigatel (Russia), Safran Aircraft Engines (France), International Aero Engines AG (US), MTU Aero Engines (Germany), Engine Alliance (US), and others.

By Turbofan Engine

  • Public
  • Private
  • Hybrid
  • Others

By Application

  • PW1000
  • F414
  • V2500
  • PW4000
  • CFM56
  • CFM LeapX
  • GP7000
  • GEnx
  • Trent 1000
  • F135
  • Others

By Aircraft Type

  • Wide Body
  • Narrow Body
  • Others

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America: (Brazil, Argentina, Rest of Latin America)
  • Rest Of the World

Check out more related studies published by Contrive Datum Insights:

  • Connected Tire Market – The global Connected Tire Market size was valued at USD 0.75 million in 2021. The market is projected to grow from USD 1.18 million in 2022 to USD 45.60 million by 2030, exhibiting a CAGR of 68.5% during the forecast period. 
  • Automotive Lubricants Market – The Global Automotive Lubricants Market Size Was Valued At USD 66.87 Billion In 2021. The Market Is Projected To Grow From USD 68.63 Billion In 2022 To USD 76.61 Billion In 2029, Exhibiting A CAGR Of 1.6% During The Forecast Period.
  • Automotive Battery Management System Market – The Global Automotive Battery Management System Market Size Was USD 5.14 Billion In 2021. The Market Is Projected To Grow From USD 5.56 Billion In 2022 To USD 15.18 Billion By 2030, Exhibiting A CAGR Of 15.4% During The Forecast Period.

Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on [email protected] or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.

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