ID: MRFR/A&D/1050-HCR | February 2021 | Region: Global | 103 pages
The governments of various countries are increasing their expenses in the aerospace industry, owing to the of modern aviation and growing demand for commercial aircraft. Governments and manufacturers are investing in advanced technologies, such as 3D printed engine components and ceramic matrix composite, of commercial aircraft gas turbine engine, which is expected to offer opportunities for the growth of the commercial aircraft gas turbine engine market. The market is driven by various factors such as rising demand for new aircraft and increasing demand for fuel-efficient engines. Also, the emergence of 3D printed engine components and use of nano-coating and ceramic matrix composites are opportunities for the growth of the commercial aircraft gas turbine engine market. The report aims to provide an overview of global commercial aircraft gas turbine engine market with detailed market segmentation by engine type, aircraft type, fit, and region. The global commercial aircraft gas turbine engine market is expected to witness significant growth during the forecast period.
Segmentation of the Global Commercial Aircraft Gas Turbine Engine Market
Based on aircraft type, the commercial aircraft gas turbine engine market is divided into fixed-wing and rotary-wing aircraft. The fixed-wing segment is estimated to account for the largest share during the forecast period. Fixed-wing aircraft offers various advantages such as long endurance, broad area coverage, and faster flight speed. Furthermore, fixed-wing aircraft forms a vital part of commercial aviation. Based on fit, the commercial aircraft gas turbine engine market is divided into line-fit and retrofit. The line-fit segment is estimated to account for the largest market share during the forecast period. The line-fit segment covers the commercial aircraft gas turbine engines procured by the aircraft manufacturers. These aircraft OEMs are predominantly present in Europe and North America, thereby resulting in higher market size in these regions. Asia-Pacific will be the fastest-growing market for commercial aircraft gas turbine engine during the forecast period. Over the years, with increasing incomes, there has been a high demand for air travel in the region, which stimulated more significant developments in planes. It is expected that by 2035, more than 16,000 aircraft would be delivered in the region. Moreover, due to the low labor rates, North American airlines outsource 60% of their retrofitting activities, to Asia, where it is a significant source of income. Furthermore, new airlines are sprouting every year in this region, which will positively impact the commercial aircraft gas turbine engine market in this region. Thus, the global commercial aircraft gas turbine engine market is estimated to grow at approximately a 5% CAGR from 2018 to 2025.
The key players in the global commercial aircraft gas turbine engine market are GE (US), Pratt & Whitney - United Technologies Corporation (US), Safran (France), Rolls Royce (UK), CFM International (US), Engine Alliance (US), MTU Aero Engines (Germany), International Aero Engines AG (US), and Honeywell International (US).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America, along with key countries in each region
Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
Regional attractiveness and related growth opportunities
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Key executive and strategy growth manager
Frequently Asked Questions (FAQ) :
A 5% CAGR is estimated to unlock opportunities in the market by 2025.
Rolls Royce (U.K.), Engine Alliance (U.S.), and CFM International (U.S.) are the front runners in the market.
An outstanding revenue level is estimated for the market in the forecast period.
The developing need for fuel-efficient engines is estimated to benefit the market in the future.
The regions of Europe and North America will have a notable effect on the global market.