A jet engine is a kind of internal combustion engine that uses high-speed exhaust gases created by the engine's fuel burning to push itself and other vehicles ahead. In addition to powering airplanes and helicopters, jet engines are frequently utilized in land-based and maritime applications in aviation.
The growth of an jet engine market is driven by factors such as increase in passenger traffic across the globe, rise in infrastructure investment, efforts by regional government to develop indigenous manufacturing capacities, and extensive R&D efforts taken by global players to improve operational efficiency of an aircraft engine & reduce overall carbon footprint. The manufacturing and supply chain industry is expected to play a major role in defining the market consolidation of jet engines. With respect to current Russia and Ukraine war, major aircraft engine manufacturers such as Boeing, General Electric, Rolls Royce, and CFM international have withdrawn from the Russian market. These players are actively looking for new raw material suppliers from Africa, Asia-Pacific, or North America regions in an effort to reduce their dependency on Europe.
The global jet engine market was affected by the COVID-19 pandemic, which led to disturbances in the supply chain and production procedures. The dynamics of the market were impacted by fluctuating demand and economic uncertainty. Despite these obstacles, the market quickly rebounded due to the defense industry's increased investment in the purchase of aerial, land, and marine vehicles for its defense personnel.
Industries and key players are actively working towards enhancing transportation safety and reliability. Consequently, the commercial aviation sector has experienced significant growth. According to Boeing’s commercial market prediction for 2020-2039, there is an expansion of over 4% in airline traffic, with the Asia Pacific region leading in growth. Projections also indicate the delivery of 43,110 new commercial airplanes across seven regions, with the highest number of deliveries expected in the Asia Pacific area. This anticipated development is poised to fuel the growth of both the sector and the jet engine market throughout the specified timeframe. Moreover, technological developments in the fields of aerodynamics, materials science, and manufacturing are propelling the development of more powerful and efficient turbofan engines. Manufacturers are investing in the development of engines that limit carbon emissions and noise levels. The growing popularity of hybrid-electric propulsion technology and sustainable aviation fuels is a reflection of the industry's commitment to more ecologically responsible and greener air travel. Furthermore, continuing partnerships between established aerospace companies and up-and-coming firms spur continual innovation. The world of jet engines has changed, with efforts to reduce environmental impact, increase energy efficiency, and investigate alternate propulsion sources, all influencing the direction of aviation technology.
With the surge in demand for fuel-efficient engines, the industry has witnessed a spike in demand for jet engines that provide improved fuel efficiency and lower emissions as fuel prices rise and environmental concerns intensify. Technological developments in engine design such as cutting-edge jet engine designs have been introduced as a result of the unwavering quest for innovation. These developments include lighter materials, better functionality, and increased dependability.
Some of the main factors propelling market growth are rise in international passenger traffic, the expansion of infrastructure spending, the initiatives taken by regional governments to build up their own manufacturing sectors, and the significant R&D efforts undertaken by the major global players to decrease the overall carbon footprint & increase the operational efficiency of jet engines. The significant technological innovations fuel the market expansion. The jet engine market is segmented into type, application, and region. On the basis of type, the market is bifurcated into turbofan and turbojet. On the basis of application, the market is divided into civil aviation and military aviation. By region, the market is analyzed in North America, Europe, Asia Pacific, and LAMEA. Region wise, the jet engine market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive analysis and profiles of the major global jet engine market players that have been provided in the report include GE Honda; Safran Group; Roll Royce; Honeywell Corporation; Kawasaki; Williams International; MTU Aeroengines; PBS Group; PRATT & WHITNEY, IHI Corporation. The key strategies adopted by the major players of the global jet engine market are product launch, mergers, and acquisitions.
The growth of an jet engine market is driven by factors such as increase in passenger traffic across the globe, rise in infrastructure investment, efforts by regional government to develop indigenous manufacturing capacities, and extensive R&D efforts taken by global players to improve operational efficiency of an aircraft engine & reduce overall carbon footprint. The manufacturing and supply chain industry is expected to play a major role in defining the market consolidation of jet engines. With respect to current Russia and Ukraine war, major aircraft engine manufacturers such as Boeing, General Electric, Rolls Royce, and CFM international have withdrawn from the Russian market. These players are actively looking for new raw material suppliers from Africa, Asia-Pacific, or North America regions in an effort to reduce their dependency on Europe.
The global jet engine market was affected by the COVID-19 pandemic, which led to disturbances in the supply chain and production procedures. The dynamics of the market were impacted by fluctuating demand and economic uncertainty. Despite these obstacles, the market quickly rebounded due to the defense industry's increased investment in the purchase of aerial, land, and marine vehicles for its defense personnel.
Industries and key players are actively working towards enhancing transportation safety and reliability. Consequently, the commercial aviation sector has experienced significant growth. According to Boeing’s commercial market prediction for 2020-2039, there is an expansion of over 4% in airline traffic, with the Asia Pacific region leading in growth. Projections also indicate the delivery of 43,110 new commercial airplanes across seven regions, with the highest number of deliveries expected in the Asia Pacific area. This anticipated development is poised to fuel the growth of both the sector and the jet engine market throughout the specified timeframe. Moreover, technological developments in the fields of aerodynamics, materials science, and manufacturing are propelling the development of more powerful and efficient turbofan engines. Manufacturers are investing in the development of engines that limit carbon emissions and noise levels. The growing popularity of hybrid-electric propulsion technology and sustainable aviation fuels is a reflection of the industry's commitment to more ecologically responsible and greener air travel. Furthermore, continuing partnerships between established aerospace companies and up-and-coming firms spur continual innovation. The world of jet engines has changed, with efforts to reduce environmental impact, increase energy efficiency, and investigate alternate propulsion sources, all influencing the direction of aviation technology.
With the surge in demand for fuel-efficient engines, the industry has witnessed a spike in demand for jet engines that provide improved fuel efficiency and lower emissions as fuel prices rise and environmental concerns intensify. Technological developments in engine design such as cutting-edge jet engine designs have been introduced as a result of the unwavering quest for innovation. These developments include lighter materials, better functionality, and increased dependability.
Some of the main factors propelling market growth are rise in international passenger traffic, the expansion of infrastructure spending, the initiatives taken by regional governments to build up their own manufacturing sectors, and the significant R&D efforts undertaken by the major global players to decrease the overall carbon footprint & increase the operational efficiency of jet engines. The significant technological innovations fuel the market expansion. The jet engine market is segmented into type, application, and region. On the basis of type, the market is bifurcated into turbofan and turbojet. On the basis of application, the market is divided into civil aviation and military aviation. By region, the market is analyzed in North America, Europe, Asia Pacific, and LAMEA. Region wise, the jet engine market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive analysis and profiles of the major global jet engine market players that have been provided in the report include GE Honda; Safran Group; Roll Royce; Honeywell Corporation; Kawasaki; Williams International; MTU Aeroengines; PBS Group; PRATT & WHITNEY, IHI Corporation. The key strategies adopted by the major players of the global jet engine market are product launch, mergers, and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the jet engines market analysis from 2022 to 2032 to identify the prevailing jet engines market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the jet engines market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global jet engines market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Turbofan Engine
- Turbojet Engine
By Application
- Military Aviation
- Civil Aviation
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- GE Honda Aero Engines
- Safran Group
- Roll Royce
- Honeywell Corporation
- Kawasaki
- Williams International
- MTU Aeroengines
- PBS Group
- PRATT & WHITNEY
- IHI Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: JET ENGINES MARKET, BY TYPE
CHAPTER 5: JET ENGINES MARKET, BY APPLICATION
CHAPTER 6: JET ENGINES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- GE Honda Aero Engines
- Safran Group
- Roll Royce
- Honeywell Corporation
- Kawasaki
- Williams International
- MTU Aeroengines
- PBS Group
- PRATT & WHITNEY
- IHI Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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