Aircraft Turbofan Engine Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Turbofan Engine (PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, F135), By Aircraft Type (Wide Body, Narrow Body, Others), By Application Type (Military Aviation, Commercial Air Transport), By Region, Competition, 2019-2029F

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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 3.07 Billion

CAGR (2024-2029)

6.20%

Fastest Growing Segment

Wide Body Aircraft

Largest Market

 North America

Market Size (2029)

USD 4.43 Billion





Market Overview

Global Aircraft Turbofan Engine Market was valued at USD 3.07 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.20% through 2029. The global aircraft turbofan engine market has been experiencing significant growth driven by advancements in aviation technology, rising air travel demand, and continuous improvements in fuel efficiency. Turbofan engines, known for their superior performance and efficiency, have become the preferred choice for commercial, military, and business aviation sectors. These engines offer a balance of thrust and fuel consumption, which is crucial for both short-haul and long-haul flights.

Key factors influencing the market include the increasing focus on reducing carbon emissions and enhancing engine efficiency. As environmental regulations become more stringent, there is a heightened emphasis on developing turbofan engines that can meet these requirements while still providing optimal performance. This has led to significant investments in research and development to innovate engine designs, materials, and manufacturing processes that contribute to lower emissions and better fuel economy.

Technological advancements are playing a crucial role in shaping the future of turbofan engines. Innovations such as the integration of advanced materials like composites and ceramics, the development of more efficient aerodynamics, and the implementation of digital twin technology for predictive maintenance are some of the key trends. These advancements not only improve engine performance and durability but also help in reducing maintenance costs and downtime, thereby enhancing the overall operational efficiency of aircraft.

The demand for newer, more efficient aircraft is also driving the turbofan engine market. Airlines and operators are increasingly looking to upgrade their fleets with modern aircraft equipped with the latest engine technologies to stay competitive and comply with evolving environmental standards. The replacement of aging aircraft with newer models that feature advanced turbofan engines is a significant contributor to market growth.

The rise in passenger traffic, particularly in emerging economies, is bolstering the market. As disposable incomes increase and air travel becomes more accessible, the aviation industry is witnessing a surge in demand for both domestic and international flights. This trend necessitates the expansion of airline fleets, subsequently increasing the demand for efficient and reliable turbofan engines.

Market Drivers

Increasing Demand for Air Travel

One of the primary drivers of the global aircraft turbofan engine market is the steadily increasing demand for air travel. As the global economy continues to grow and people become more connected, the aviation industry experiences a rise in passenger and cargo traffic. This heightened demand for air transportation leads to an increased need for new aircraft, subsequently driving the demand for advanced and efficient turbofan engines. Emerging markets, urbanization, and a growing middle class in various regions contribute to the expansion of the aviation sector. Airlines are constantly seeking ways to enhance their fleets to meet the rising demand for air travel, and the choice of engines significantly impacts the overall performance, fuel efficiency, and environmental footprint of an aircraft. In response to this demand, aircraft manufacturers and engine suppliers are engaged in the development of innovative turbofan engines that offer higher thrust, improved fuel efficiency, and lower emissions. This focus on meeting the demand for air travel propels investments in research and development within the aircraft turbofan engine market, as manufacturers strive to provide solutions that align with the evolving needs of the aviation industry.

Technological Advancements and Innovation

The relentless pursuit of technological advancements and innovation is a major driver of the aircraft turbofan engine market. To stay competitive and meet the evolving demands of the aviation industry, manufacturers invest heavily in research and development to introduce cutting-edge technologies in turbofan engine design and performance. Innovations in materials, such as the use of advanced composites and alloys, contribute to the development of lighter and more durable engine components. Improvements in aerodynamics, combustion efficiency, and cooling systems enhance overall engine performance and fuel efficiency. Additionally, advancements in digital technologies, such as artificial intelligence (AI) and data analytics, are integrated into engine systems for real-time monitoring, predictive maintenance, and optimization of operational parameters. The continuous pursuit of innovation is not only a response to market demands but also a means to address regulatory requirements related to emissions, noise reduction, and overall environmental impact. As manufacturers introduce state-of-the-art technologies, they gain a competitive edge in the market and contribute to the overall progress of the aircraft turbofan engine industry.

Stringent Environmental Regulations

Environmental regulations, aimed at reducing the carbon footprint of the aviation industry, serve as a powerful driver for advancements in aircraft turbofan engines. Regulatory bodies worldwide are imposing increasingly stringent emissions standards to address concerns about climate change and air quality. These regulations push manufacturers to develop engines that are not only more fuel-efficient but also produce fewer emissions. The International Civil Aviation Organization (ICAO) and regional aviation authorities set standards for emissions, noise levels, and overall environmental performance. Compliance with these standards is essential for market access and global competitiveness. As a result, manufacturers invest in research and development to design engines that meet or exceed these regulatory requirements. The focus on environmental sustainability has led to the exploration of alternative fuels, such as biofuels and sustainable aviation fuels, which can help reduce the carbon intensity of aviation. Manufacturers are working on engine designs compatible with these alternative fuels, contributing to the overall environmental objectives of the aviation industry.

Rising Airline Fleet Renewal

The global aviation industry is experiencing a trend of increasing airline fleet renewal, driven by the need to replace older, less fuel-efficient aircraft with newer and more technologically advanced models. Airlines are motivated to upgrade their fleets to improve operational efficiency, reduce maintenance costs, and enhance overall competitiveness in the market. As airlines invest in new aircraft, the demand for state-of-the-art turbofan engines increases. Manufacturers are thus presented with opportunities to provide engines that offer better fuel efficiency, increased range, and lower maintenance requirements. The desire for modern, fuel-efficient aircraft is particularly pronounced in regions where airlines are expanding their services and seeking to capitalize on the latest advancements in aviation technology. The trend of airline fleet renewal is closely linked to the quest for improved cost-effectiveness and sustainability. Newer aircraft, equipped with advanced turbofan engines, contribute to reduced fuel consumption per passenger-kilometer, lower emissions, and improved overall performance, aligning with both economic and environmental considerations.

Emerging Markets and Regional Growth

The growth of emerging markets and increasing regional connectivity contribute significantly to the demand for aircraft turbofan engines. As economies in Asia, Latin America, the Middle East, and Africa experience robust growth, there is a parallel increase in air travel demand within these regions. Airlines in emerging markets are expanding their fleets to cater to growing passenger and cargo transportation needs, leading to a surge in the demand for new aircraft and, consequently, aircraft turbofan engines. The expansion of regional air travel networks and the emergence of low-cost carriers in various parts of the world further fuel the demand for efficient and cost-effective turbofan engines. Regional growth also presents opportunities for manufacturers to establish partnerships and collaborations with local aviation stakeholders, enhancing their market presence and providing tailored solutions for regional requirements. Moreover, the development of new airports, the liberalization of air transport markets, and government initiatives to promote the aviation sector contribute to the growth of the aircraft turbofan engine market in emerging markets. Manufacturers recognize the strategic importance of these regions and often tailor their product offerings to meet the specific needs and operational conditions of airlines operating in these dynamic markets.

 

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Key Market Challenges

Technological Advancements and Innovation

The aviation industry is marked by rapid technological advancements, driven by the constant pursuit of enhanced performance, fuel efficiency, and environmental sustainability. In the context of aircraft turbofan engines, innovation is crucial for meeting increasingly stringent regulatory standards and customer demands. However, the fast pace of technological change presents a challenge for manufacturers who must invest significantly in research and development to stay competitive. Incorporating new materials, design concepts, and manufacturing processes adds complexity and cost to engine development. Furthermore, ensuring the reliability and safety of innovative technologies is a paramount concern, as any failure in an aircraft engine can have catastrophic consequences.

Stringent Environmental Regulations

The aviation industry faces growing pressure to reduce its environmental impact, driven by concerns over climate change and the aviation sector's contribution to greenhouse gas emissions. Aircraft turbofan engines are a major source of carbon dioxide (CO2) emissions, and regulatory bodies around the world are imposing increasingly strict emissions standards. Meeting these standards requires significant investments in new engine technologies, alternative fuels, and aerodynamic improvements. Manufacturers must balance the need for performance with environmental considerations, adding complexity to engine design and potentially impacting costs. As a result, the industry is challenged to find a balance between regulatory compliance and economic viability.

Supply Chain Disruptions

The global aircraft turbofan engine market is highly dependent on complex and interconnected supply chains. Disruptions to the supply chain can occur due to various factors, including geopolitical tensions, natural disasters, and global events such as the COVID-19 pandemic. The supply chain challenges are exacerbated by the fact that many components of aircraft engines are produced by specialized suppliers, and any disruption in the supply of critical components can lead to delays in engine production and delivery. This vulnerability was evident during the COVID-19 pandemic, which disrupted global supply chains and led to production slowdowns in the aviation industry. Companies in the aircraft turbofan engine market need to develop robust contingency plans and diversify their supplier base to mitigate the impact of potential disruptions.

Rising Development and Production Costs

The development and production of aircraft turbofan engines involve substantial investments in research, engineering, and manufacturing. As technological advancements continue, the costs associated with developing cutting-edge engines rise significantly. Manufacturers are faced with the challenge of balancing the pursuit of innovation with the need to maintain affordability for both them and their customers. Moreover, the aviation industry operates in a competitive environment where airlines are cost-sensitive and seek fuel-efficient engines to reduce operational expenses. The challenge for manufacturers is to optimize the cost-performance ratio, ensuring that the benefits of technological advancements outweigh the associated costs, while also maintaining profitability and competitiveness in the market.

Global Economic Uncertainty and Market Volatility

The aircraft turbofan engine market is influenced by global economic conditions and market volatility. Economic downturns, geopolitical tensions, and unexpected events can impact air travel demand, which, in turn, affects the market for new aircraft and engines. During economic downturns, airlines may delay or cancel orders, leading to reduced production rates for aircraft and engines. Market volatility can also impact the financial stability of both manufacturers and suppliers. Additionally, fluctuations in currency exchange rates can affect the cost of materials and components, further complicating financial planning for companies in the aircraft turbofan engine market. Managing these uncertainties requires companies to adopt flexible business strategies, closely monitor market trends, and be prepared to adjust production plans in response to changing economic conditions.

Key Market Trends

Transition to More Efficient and Sustainable Engines

One of the prominent trends in the aircraft turbofan engine market is the industry-wide commitment to developing and adopting more efficient and sustainable engine technologies. With increasing awareness of environmental concerns and a growing emphasis on reducing carbon emissions, manufacturers are investing heavily in research and development to create engines that are not only more fuel-efficient but also environmentally friendly. This trend is driven by the need to comply with stringent emissions standards imposed by regulatory bodies worldwide. Manufacturers are exploring innovative design concepts, materials, and manufacturing processes to improve the overall efficiency of turbofan engines. Advancements in aerodynamics, lightweight materials, and propulsion systems are being pursued to enhance fuel efficiency and reduce the environmental impact of air travel. Additionally, alternative fuels such as biofuels and hydrogen are gaining attention as potential solutions to further reduce the carbon footprint of aviation. The trend towards sustainable aviation is reshaping the landscape of the aircraft turbofan engine market, with companies focusing on creating engines that not only meet performance expectations but also align with global efforts to mitigate climate change.

Digitalization and Smart Technologies

The aviation industry, including the aircraft turbofan engine market, is experiencing a digital transformation. The integration of digital technologies, data analytics, and connectivity is becoming increasingly prevalent, offering new opportunities for efficiency improvements, predictive maintenance, and overall performance optimization. Digital twin technology, which involves creating virtual replicas of physical engines, enables real-time monitoring and analysis of engine performance. This allows for proactive maintenance and the identification of potential issues before they lead to failures, ultimately increasing the reliability and lifespan of turbofan engines. Additionally, the Internet of Things (IoT) is playing a crucial role in data collection and communication between different components of an aircraft and its engines. This connectivity facilitates real-time communication between the aircraft and ground-based systems, enabling more efficient operations and providing valuable insights for both manufacturers and airlines. The use of artificial intelligence (AI) and machine learning (ML) algorithms is also on the rise in the aircraft turbofan engine market. These technologies can analyze vast amounts of data to optimize engine performance, predict maintenance needs, and enhance overall operational efficiency.

Rise of Electric and Hybrid Propulsion

Another significant trend in the aircraft turbofan engine market is the exploration of electric and hybrid propulsion systems. While traditional turbofan engines powered by fossil fuels remain the dominant propulsion method, there is a growing interest in electric and hybrid-electric propulsion as a means to address environmental concerns and reduce dependency on traditional aviation fuels. Electric propulsion systems use electric motors powered by batteries or fuel cells to drive propellers or fans, providing a cleaner and potentially more sustainable alternative to traditional jet engines. Hybrid-electric systems combine traditional combustion engines with electric propulsion, offering a transitionary approach toward more sustainable aviation. Several companies are investing in the development of electric and hybrid propulsion technologies for smaller aircraft and urban air mobility applications. While widespread adoption in commercial aviation may still be in the future, the trend is indicative of the industry's commitment to exploring alternative propulsion methods that align with evolving environmental and sustainability goals.

Increased Focus on Additive Manufacturing

Additive manufacturing, commonly known as 3D printing, is gaining prominence in the aircraft turbofan engine market as a transformative manufacturing process. This trend involves the layer-by-layer construction of components using materials such as metals, polymers, and composites. Additive manufacturing offers several advantages, including reduced weight, increased design flexibility, and shorter production lead times. In the context of aircraft turbofan engines, additive manufacturing allows for the production of complex components with intricate geometries that were previously challenging or impossible to manufacture using traditional methods. This can lead to improvements in engine efficiency, performance, and overall reliability. The adoption of additive manufacturing in the aircraft turbofan engine market is driven by the desire to streamline the manufacturing process, reduce waste, and enhance the overall lifecycle of engines. Manufacturers are increasingly leveraging this technology to produce prototypes, optimize designs, and even manufacture critical components for production engines.

Growing Importance of Aftermarket Services

The aftermarket services segment of the aircraft turbofan engine market is witnessing increased attention and growth. As airlines and operators seek to optimize operational costs and extend the lifespan of their fleets, the demand for reliable and cost-effective aftermarket services has risen significantly. Aftermarket services encompass a range of activities, including maintenance, repair, and overhaul (MRO), spare parts supply, and engine upgrades. With advancements in predictive maintenance enabled by digital technologies, aftermarket service providers can proactively identify potential issues, schedule maintenance activities, and reduce unplanned downtime. The trend towards more efficient aftermarket services is driven by the increasing complexity of modern turbofan engines. Airlines are looking for comprehensive service solutions that not only address immediate maintenance needs but also consider long-term performance optimization and lifecycle management. Additionally, the emphasis on sustainability is influencing aftermarket services, with a focus on recycling and repurposing components to minimize waste. The growing importance of aftermarket services represents a shift in the industry's mindset from a product-centric approach to a more holistic, service-oriented model that aligns with the evolving needs of aircraft operators.

Segmental Insights

Turbofan Engine Analysis

The global aircraft turbofan engine market encompasses a diverse range of engines, each distinguished by unique technological attributes and applications. The PW1000, a part of Pratt & Whitney's PurePower engine family, stands out for its geared turbofan design. This innovative approach separates the fan from the low-pressure turbine, allowing each to operate at optimal speeds, resulting in significant improvements in fuel efficiency, noise reduction, and emissions. The PW1000's advanced materials and aerodynamic features further contribute to its performance, making it suitable for modern, fuel-conscious aircraft.

The F414 engine, developed by General Electric, is known for its high thrust-to-weight ratio and reliability. Primarily used in military applications, it incorporates advanced technologies such as Full Authority Digital Engine Control (FADEC), which enhances operational performance and ease of maintenance. The F414's design focuses on delivering superior power and efficiency, making it a critical component in next-generation fighter jets.

Another significant player in the market is the V2500 engine, a product of the International Aero Engines consortium. Renowned for its versatility and efficiency, the V2500 is commonly used in single-aisle commercial aircraft. Its advanced high-bypass ratio and optimized fuel consumption are key features that appeal to airlines aiming for cost-effective operations and reduced environmental impact.

The PW4000 engine series, also by Pratt & Whitney, has established itself as a reliable workhorse for wide-body aircraft. Known for its durability and robust performance, the PW4000 features advanced materials and a high-efficiency core, providing airlines with a dependable engine choice for long-haul flights. Its ability to handle high thrust levels while maintaining fuel efficiency underscores its importance in the market.

The CFM56, a joint venture between GE Aviation and Safran Aircraft Engines, is one of the most widely used turbofan engines in commercial aviation. Its reliability, efficiency, and widespread adoption across various aircraft models have cemented its position in the industry. Continuous improvements and upgrades have ensured the CFM56 remains competitive, meeting the evolving demands of the aviation sector.

CFM LeapX, the successor to the CFM56, represents the latest in turbofan technology. Featuring advanced composite materials, a higher bypass ratio, and innovative cooling techniques, the LeapX offers substantial improvements in fuel efficiency and emissions reduction. Its design reflects a commitment to sustainable aviation, addressing modern environmental concerns.

The GP7000 engine, a collaboration between GE and Pratt & Whitney, is designed for the Airbus A380. It combines the best technologies from both companies, resulting in an engine that delivers high thrust, efficiency, and reliability. The GP7000's robust performance characteristics make it a vital component for one of the world's largest commercial aircraft.

The GEnx engine, developed by General Electric, is utilized in Boeing's 787 Dreamliner and 747-8 aircraft. Its composite fan blades, advanced aerodynamics, and low-emission technologies make the GEnx one of the most efficient engines in its class. The focus on reducing fuel consumption and emissions aligns with the industry's shift towards greener aviation solutions.

Rolls-Royce's Trent 1000 engine powers the Boeing 787 Dreamliner, offering significant advancements in fuel efficiency, noise reduction, and reliability. The Trent 1000 incorporates cutting-edge materials and design features that enhance performance while lowering maintenance costs, making it a preferred choice for long-haul travel.

The F135 engine, developed by Pratt & Whitney for the F-35 Lightning II, is a state-of-the-art military turbofan. Its advanced propulsion technology, including a unique three-stream design, provides exceptional thrust and efficiency. The F135's innovative features and superior performance capabilities underscore its critical role in modern defense aviation.

 

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Regional Insights

The North American aircraft turbofan engine market is driven by a strong presence of established aerospace manufacturers and advanced research facilities. The United States, being home to major players such as GE Aviation and Pratt & Whitney, leads in the development and production of cutting-edge turbofan technologies. Additionally, the region benefits from significant defense spending and commercial aviation demand, particularly with the rise of low-cost carriers. The ongoing modernization of existing fleets and the introduction of more fuel-efficient engines further stimulate market growth. Efforts towards reducing carbon emissions and improving engine efficiency are key trends influencing the North American market.

Europe & CIS regions showcase a robust aircraft turbofan engine market due to the presence of aerospace giants like Rolls-Royce and Safran. Europe, in particular, emphasizes eco-friendly aviation solutions, driving innovation in low-emission and high-efficiency turbofan engines. Collaborative projects under the European Union's Clean Sky initiatives and significant investments in research and development strengthen the market. Additionally, the CIS region, led by Russia, focuses on modernizing its aviation fleet with advanced turbofan engines to enhance performance and reliability. The market is also influenced by the increasing adoption of advanced materials and manufacturing technologies.

The Asia Pacific aircraft turbofan engine market is experiencing rapid growth owing to the burgeoning air travel demand and expanding aviation infrastructure. Countries like China, India, and Japan are at the forefront, with China making significant strides in developing its own turbofan engines to reduce dependency on Western manufacturers. The rise of budget airlines and increasing air passenger traffic necessitate the procurement of new, efficient aircraft, thereby driving the market. Additionally, government initiatives and investments in aviation research and technology play a crucial role in supporting market expansion. The region's focus on reducing operational costs and improving engine performance is also noteworthy.

South America's aircraft turbofan engine market is characterized by gradual growth, primarily driven by increasing air travel within the continent and to international destinations. Brazil stands out with Embraer, a leading regional aircraft manufacturer, influencing market dynamics. The market sees investments aimed at fleet renewal and the adoption of more fuel-efficient engines to cater to the rising demand for cost-effective and reliable air travel. Additionally, the region is focusing on enhancing its aviation infrastructure and capabilities, which includes upgrading existing fleets with advanced turbofan engines. Economic fluctuations and political factors also play a role in shaping the market landscape.

The Middle East & Africa region presents a dynamic aircraft turbofan engine market, supported by significant investments in aviation infrastructure and the strategic positioning of Middle Eastern countries as global aviation hubs. Airlines in the Middle East, known for their extensive international networks, drive demand for state-of-the-art turbofan engines to ensure operational efficiency and passenger comfort. In Africa, the market is gradually developing, with a focus on improving air connectivity and modernizing fleets to support economic growth. Initiatives aimed at enhancing aviation safety and performance, along with the adoption of advanced technologies, are pivotal in driving the market forward in this region.

Recent Developments

  • In June 2024, China announced a revolutionary advancement in aviation technology. Researchers introduced a turbofan engine featuring a shark skin-inspired design. This new fighter jet engine could potentially outpace US innovations.
  • In May 2024, Türkiye successfully tested its first indigenous turbofan aircraft engine, the TF6000. This milestone was achieved through a project initiated by the Secretariat of Defense Industries (SSB) and executed by TEI. The TF6000 was developed to showcase technological capabilities for Türkiye's inaugural fighter jet, KAAN.

Key Market Players

  • RTX Corporation
  • GE Aerospace (General Electric Company)
  • Rolls-Royce plc
  • MTU Aero Engines AG
  • Honeywell International Inc.
  • Eurojet Turbo GmbH
  • Safran SA
  • IHI Corporation

By Turbofan Engine

By Aircraft Type

By Application Type

By Region
  • PW1000
  • F414
  • V2500
  • PW4000
  • CFM56
  • CFM LeapX
  • GP7000
  • GEnx
  • Trent 1000
  • F135
  • Wide Body
  • Narrow Body
  • Others
  • Military Aviation
  • Commercial Air Transport
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Aircraft Turbofan Engine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Aircraft Turbofan Engine Market, By Turbofan Engine:

o   PW1000

o   F414

o   V2500

o   PW4000

o   CFM56

o   CFM LeapX

o   GP7000

o   GEnx

o   Trent 1000

o   F135

  • Aircraft Turbofan Engine Market, By Aircraft Type:

o   Wide Body

o   Narrow Body

o   Others

  • Aircraft Turbofan Engine Market, By Application Type:

o   Military Aviation

o   Commercial Air Transport

  • Aircraft Turbofan Engine Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aircraft Turbofan Engine Market.

Available Customizations:

Global Aircraft Turbofan Engine market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Aircraft Turbofan Engine Market

5.    Global Aircraft Turbofan Engine Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Turbofan Engine Market Share Analysis (PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, F135)

5.2.2.     By Aircraft Type Market Share Analysis (Wide Body, Narrow Body, Others)

5.2.3.     By Application Type Market Share Analysis (Military Aviation, Commercial Air Transport)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia-Pacific Market Share Analysis

5.2.4.2.         Europe & CIS Market Share Analysis

5.2.4.3.         North America Market Share Analysis

5.2.4.4.         South America Market Share Analysis

5.2.4.5.         Middle East & Africa Market Share Analysis

5.2.5.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Aircraft Turbofan Engine Market Mapping & Opportunity Assessment

5.3.1.     By Turbofan Engine Market Mapping & Opportunity Assessment

5.3.2.     By Aircraft Type Market Mapping & Opportunity Assessment

5.3.3.     By Application Type Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Aircraft Turbofan Engine Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value  

6.2.  Market Share & Forecast

6.2.1.     By Turbofan Engine Market Share Analysis

6.2.2.     By Aircraft Type Market Share Analysis

6.2.3.     By Application Type Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         China Market Share Analysis

6.2.4.2.         India Market Share Analysis

6.2.4.3.         Japan Market Share Analysis

6.2.4.4.         Indonesia Market Share Analysis

6.2.4.5.         Thailand Market Share Analysis

6.2.4.6.         South Korea Market Share Analysis

6.2.4.7.         Australia Market Share Analysis

6.2.4.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Aircraft Turbofan Engine Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value  

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Turbofan Engine Market Share Analysis

6.3.1.2.2.             By Aircraft Type Market Share Analysis

6.3.1.2.3.             By Application Type Market Share Analysis

6.3.2.     India Aircraft Turbofan Engine Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value  

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Turbofan Engine Market Share Analysis

6.3.2.2.2.             By Aircraft Type Market Share Analysis

6.3.2.2.3.             By Application Type Market Share Analysis

6.3.3.     Japan Aircraft Turbofan Engine Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value  

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Turbofan Engine Market Share Analysis

6.3.3.2.2.             By Aircraft Type Market Share Analysis

6.3.3.2.3.             By Application Type Market Share Analysis

6.3.4.     Indonesia Aircraft Turbofan Engine Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value  

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Turbofan Engine Market Share Analysis

6.3.4.2.2.             By Aircraft Type Market Share Analysis

6.3.4.2.3.             By Application Type Market Share Analysis

6.3.5.     Thailand Aircraft Turbofan Engine Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value  

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Turbofan Engine Market Share Analysis

6.3.5.2.2.             By Aircraft Type Market Share Analysis

6.3.5.2.3.             By Application Type Market Share Analysis

6.3.6.     South Korea Aircraft Turbofan Engine Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Value  

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Turbofan Engine Market Share Analysis

6.3.6.2.2.             By Aircraft Type Market Share Analysis

6.3.6.2.3.             By Application Type Market Share Analysis

6.3.7.     Australia Aircraft Turbofan Engine Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Value  

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Turbofan Engine Market Share Analysis

6.3.7.2.2.             By Aircraft Type Market Share Analysis

6.3.7.2.3.             By Application Type Market Share Analysis

7.    Europe & CIS Aircraft Turbofan Engine Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value  

7.2.  Market Share & Forecast

7.2.1.     By Turbofan Engine Market Share Analysis

7.2.2.     By Aircraft Type Market Share Analysis

7.2.3.     By Application Type Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         Germany Market Share Analysis

7.2.4.2.         Spain Market Share Analysis

7.2.4.3.         France Market Share Analysis

7.2.4.4.         Russia Market Share Analysis

7.2.4.5.         Italy Market Share Analysis

7.2.4.6.         United Kingdom Market Share Analysis

7.2.4.7.         Belgium Market Share Analysis

7.2.4.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Aircraft Turbofan Engine Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value  

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Turbofan Engine Market Share Analysis

7.3.1.2.2.             By Aircraft Type Market Share Analysis

7.3.1.2.3.             By Application Type Market Share Analysis

7.3.2.     Spain Aircraft Turbofan Engine Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value  

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Turbofan Engine Market Share Analysis

7.3.2.2.2.             By Aircraft Type Market Share Analysis

7.3.2.2.3.             By Application Type Market Share Analysis

7.3.3.     France Aircraft Turbofan Engine Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value  

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Turbofan Engine Market Share Analysis

7.3.3.2.2.             By Aircraft Type Market Share Analysis

7.3.3.2.3.             By Application Type Market Share Analysis

7.3.4.     Russia Aircraft Turbofan Engine Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value  

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Turbofan Engine Market Share Analysis

7.3.4.2.2.             By Aircraft Type Market Share Analysis

7.3.4.2.3.             By Application Type Market Share Analysis

7.3.5.     Italy Aircraft Turbofan Engine Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value  

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Turbofan Engine Market Share Analysis

7.3.5.2.2.             By Aircraft Type Market Share Analysis

7.3.5.2.3.             By Application Type Market Share Analysis

7.3.6.     United Kingdom Aircraft Turbofan Engine Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value  

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Turbofan Engine Market Share Analysis

7.3.6.2.2.             By Aircraft Type Market Share Analysis

7.3.6.2.3.             By Application Type Market Share Analysis

7.3.7.     Belgium Aircraft Turbofan Engine Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value  

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Turbofan Engine Market Share Analysis

7.3.7.2.2.             By Aircraft Type Market Share Analysis

7.3.7.2.3.             By Application Type Market Share Analysis

8.    North America Aircraft Turbofan Engine Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value  

8.2.  Market Share & Forecast

8.2.1.     By Turbofan Engine Market Share Analysis

8.2.2.     By Aircraft Type Market Share Analysis

8.2.3.     By Application Type Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.         United States Market Share Analysis

8.2.4.2.         Mexico Market Share Analysis

8.2.4.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States Aircraft Turbofan Engine Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value  

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Turbofan Engine Market Share Analysis

8.3.1.2.2.             By Aircraft Type Market Share Analysis

8.3.1.2.3.             By Application Type Market Share Analysis

8.3.2.     Mexico Aircraft Turbofan Engine Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value  

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Turbofan Engine Market Share Analysis

8.3.2.2.2.             By Aircraft Type Market Share Analysis

8.3.2.2.3.             By Application Type Market Share Analysis

8.3.3.     Canada Aircraft Turbofan Engine Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value  

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Turbofan Engine Market Share Analysis

8.3.3.2.2.             By Aircraft Type Market Share Analysis

8.3.3.2.3.             By Application Type Market Share Analysis

9.    South America Aircraft Turbofan Engine Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value  

9.2.  Market Share & Forecast

9.2.1.     By Turbofan Engine Market Share Analysis

9.2.2.     By Aircraft Type Market Share Analysis

9.2.3.     By Application Type Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.         Brazil Market Share Analysis

9.2.4.2.         Argentina Market Share Analysis

9.2.4.3.         Colombia Market Share Analysis

9.2.4.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil Aircraft Turbofan Engine Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value  

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Turbofan Engine Market Share Analysis

9.3.1.2.2.             By Aircraft Type Market Share Analysis

9.3.1.2.3.             By Application Type Market Share Analysis

9.3.2.     Colombia Aircraft Turbofan Engine Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value  

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Turbofan Engine Market Share Analysis

9.3.2.2.2.             By Aircraft Type Market Share Analysis

9.3.2.2.3.             By Application Type Market Share Analysis

9.3.3.     Argentina Aircraft Turbofan Engine Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value  

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Turbofan Engine Market Share Analysis

9.3.3.2.2.             By Aircraft Type Market Share Analysis

9.3.3.2.3.             By Application Type Market Share Analysis

10.  Middle East & Africa Aircraft Turbofan Engine Market Outlook

10.1.             Market Size & Forecast

10.1.1.  By Value   

10.2.             Market Share & Forecast

10.2.1.  By Turbofan Engine Market Share Analysis

10.2.2.  By Aircraft Type Market Share Analysis

10.2.3.  By Application Type Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1.      South Africa Market Share Analysis

10.2.4.2.      Turkey Market Share Analysis

10.2.4.3.      Saudi Arabia Market Share Analysis

10.2.4.4.      UAE Market Share Analysis

10.2.4.5.      Rest of Middle East & Africa Market Share Analysis

10.3.             Middle East & Africa: Country Analysis

10.3.1.  South Africa Aircraft Turbofan Engine Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value  

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Turbofan Engine Market Share Analysis

10.3.1.2.2.           By Aircraft Type Market Share Analysis

10.3.1.2.3.           By Application Type Market Share Analysis

10.3.2.  Turkey Aircraft Turbofan Engine Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value  

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Turbofan Engine Market Share Analysis

10.3.2.2.2.           By Aircraft Type Market Share Analysis

10.3.2.2.3.           By Application Type Market Share Analysis

10.3.3.  Saudi Arabia Aircraft Turbofan Engine Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value  

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Turbofan Engine Market Share Analysis

10.3.3.2.2.           By Aircraft Type Market Share Analysis

10.3.3.2.3.           By Application Type Market Share Analysis

10.3.4.  UAE Aircraft Turbofan Engine Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value  

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Turbofan Engine Market Share Analysis

10.3.4.2.2.           By Aircraft Type Market Share Analysis

10.3.4.2.3.           By Application Type Market Share Analysis

11.  SWOT Analysis

11.1.             Strength

11.2.             Weakness

11.3.             Opportunities

11.4.             Threats

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.             Company Profiles (Up to 10 Major Companies)

14.1.1.  RTX Corporation

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  GE Aerospace (General Electric Company)

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  Rolls-Royce plc

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.   MTU Aero Engines AG

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  Honeywell International Inc.

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  Eurojet Turbo GmbH

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  Safran SA

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  IHI Corporation

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

15.  Strategic Recommendations

15.1.             Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target Aircraft Type

15.1.3.  Target Application Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Aircraft Turbofan Engine Market was estimated to be USD 3.07 billion in 2023.

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The aviation turbofan engine market is divided into segments based on the turbofan engines, which include PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, and F135. The market was dominated by the CFM LeapX sector, and its growth was caused by the fleet of CFIV's first LEAP engines. It has generated 15% more fuel efficiency, produced world-class daily utilization rates, and significantly decreased noise and emissions signatures—all while preserving CFM's industry-leading reliability and total cost of ownership.

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The demand for efficient engines and the aviation industry's constant need for new and creative technologies will drive the market for aircraft turbofan engines in North America. The US and Canada are the two biggest markets in North America for turboprop aircraft. The United States is expected to grow because of a rise in orders and deliveries of turboprop aircraft in the commercial, military, and general aviation sectors.

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Surging air travel demand necessitating fleet expansion, stricter environmental regulations pushing for fuel efficiency, and continuous advancements in engine technology promising better performance and noise reduction are the major drivers for the Global Aircraft Turbofan Engine Market.

Related Reports

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Srishti Verma

Business Consultant
Press Release

Aircraft Turbofan Engine Market to Grow with a CAGR of 6.20% Globally through to 2029

Jun, 2024

Growing demand for fuel-efficient engines, expanding aviation infrastructure, and increasing air passenger traffic are the factors driving the market in the forecast period 2025-2029.

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