Aircraft Turbofan Engine Market Report 2026

The aircraft turbofan engine market size has grown strongly in recent years. It will grow from $3.35 billion in 2025 to $3.58 billion in 2026 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growing adoption of turbofan engines to achieve higher fuel efficiency and lower noise levels, early deployment of low and medium bypass ratio engines in commercial and military platforms, rising demand for high bypass ratio turbofans to support wide-body and long-haul aircraft, development of geared turbofan technologies to improve propulsion efficiency, expansion of global air travel driving large-scale production of turbofan engines.

The aircraft turbofan engine market size is expected to see strong growth in the next few years. It will grow to $4.66 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing demand for next-generation turbofan engines with reduced emissions and improved efficiency, increasing adoption of advanced materials and cooling technologies to support higher operating temperatures, rising investment in geared turbofan platforms for enhanced performance and lower operating costs, expansion of aircraft fleet modernization programs requiring new propulsion systems, technological advancements enabling hybrid-electric integration and further noise reduction in turbofan engines. Major trends in the forecast period include demand for high-efficiency, low-noise turbofan engines, growth in commercial air transport driving engine sales, adoption of geared turbofan technology for fuel efficiency, expansion of military aviation programs and upgrades, increasing maintenance, repair, and overhaul (mro) services.

Rising aircraft orders are expected to drive the growth of the aircraft turbofan engine market going forward. The growing demand for air travel is prompting airlines to invest in new aircraft to expand their fleets and replace older, less fuel-efficient models. This has resulted in an increase in commercial airliner orders, which in turn is boosting demand for aircraft engines. For example, in January 2024, a report published by Aircraft Interiors International, a UK-based media company, indicated that aircraft orders surged by 91% in 2023 compared with 2022, driven by a 78% rise in single-aisle aircraft orders and a 169% increase in widebody aircraft orders. Additionally, new aircraft deliveries reached 1,265 units in 2023, representing an 11% year-over-year increase. Therefore, rising aircraft orders are fueling the growth of the aircraft turbofan engine market.

The increasing number of air passengers is expected to support the expansion of the aircraft turbofan engine market. An air passenger refers to a person or business primarily involved in the transportation of people by aircraft in interstate commerce. As air travel becomes more accessible and affordable, more individuals are choosing to fly, leading to growing demand for air transportation. This has, in turn, created a heightened need for more efficient and reliable aircraft engines, with turbofan engines being among the most widely used options for commercial airliners. For instance, in December 2024, Eurostat, a Luxembourg-based government agency, reported that in 2023, a total of 973 million passengers traveled by air within the EU - a 19.3% increase from 2022, when 816 million passengers were recorded. The data indicated that all EU member states experienced a rise in air passenger numbers compared with the previous year. Therefore, the rising number of air passengers is driving the growth of the aircraft turbofan engine market.

Product innovation is a key trend gaining momentum in the aircraft turbofan engine market. Major companies operating in this market are focusing on developing innovative products to remain competitive. For example, in October 2024, Raghu Vamsi Machine Tools, an India-based aerospace and defense company, introduced a fully indigenous micro turbojet engine named INDRA RV25: 240N, representing a major advancement in India's aerospace capabilities. This milestone aligns with the country’s Atma Nirbhar Bharat initiative, which aims to promote self-reliance across sectors, including defense and aerospace. The engine is designed and manufactured entirely in India, demonstrating local engineering expertise and technological progress.

Major companies operating in the aircraft turbofan engine market are Pratt & Whitney Canada Corp., Rolls-Royce Holdings plc, CFM International SA, Safran SA, GE Aviation, Honeywell International Inc., MTU Aero Engines AG, Eurojet Turbo GmbH, United Engine Corporation, International Aero Engines AG, Engine Alliance GP, Aero Engine Corporation of China, Aviation Industry Corporation of China, Raytheon Technologies Corporation, Snecma, Ishikawajima-Harima Heavy Industries Co. Ltd., JSC Aviadvigatel, NPO Saturn, Williams International, Ivchenko-Progress Design Bureau, Klimov JSC, Motor Sich JSC, Hindustan Aeronautics Limited, Shenyang Liming Aero-Engine (Group) Co. Ltd., Kuznetsov Design Bureau, IHI Corporation, Avio Aero.

North America was the largest region in the aircraft turbofan engine market in 20254. Asia-Pacific is expected to be the fastest-growing region in the global aircraft turbofan engine market report during the forecast period. The regions covered in the aircraft turbofan engine market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have affected the aircraft turbofan engine market by raising costs of imported engine components, precision alloys, and turbine materials, impacting production timelines and increasing overall expenses. High-value engine segments like GEnx, Trent 1000, and PW4000 are particularly affected, especially in North America, Europe, and Asia-Pacific regions where manufacturing and assembly hubs are concentrated. While tariffs create cost pressures, they also encourage local sourcing, domestic manufacturing, and development of alternative supply chains, benefiting regional suppliers and incentivizing innovation in engine design.

The aircraft turbofan engine market research report is one of a series of new reports that provides aircraft turbofan engine market statistics, including aircraft turbofan engine industry global market size, regional shares, competitors with a aircraft turbofan engine market share, detailed aircraft turbofan engine market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft turbofan engine industry. This aircraft turbofan engine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An aircraft turbofan engine is a type of jet engine powering modern commercial and military aircraft. Engineered for high efficiency and reduced noise levels compared to earlier jet engine designs, the turbofan is a pivotal component in contemporary aviation.

The primary models of aircraft turbofan engines include PW4000, GEnx, Trent 1000, F414, GP7000, among others. The PW4000 represents the initial iteration of high-thrust engines, featuring a 94-inch fan engine. This particular aircraft turbofan engine delivers thrust within the range of 74,000 to 98,000 pound-force. Aircraft, categorized as narrow-body and wide-body, may have fixed wings or rotary wings, and are utilized in various applications such as military aviation, commercial air transport, and others. The turbofan engine plays a crucial role in powering these aircraft, enabling their efficient and low-noise operation.

The countries covered in the aircraft turbofan engine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aircraft turbofan engine marker consists of the sale of low bypass ratio turbofan engines, medium bypass ratio turbofan engines, high bypass ratio turbofan engines, and geared turbofan engines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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