Aircraft Engines Market Introduction & Dynamics
Aircraft engines are primary propulsion devices that produce the necessary thrust to generate lift for the aircraft to fly. These aircraft engines were synonymous in design to reciprocating engines used in automobiles but in the present world, a shift from reciprocating engines to jet aircraft engines has been observed. Manufacturers of aircraft engines are continuously engaged in innovating such systems in order to reduce the overall weight and improve fuel efficiency and performance.
Air transportation have been developing with a fast pace over the last few years and this is directly impacting the aircraft engines market. Presently, the commercial aircraft industry fleet consist of nearly ~28,000 aircrafts, with APAC equaling the almost the North America market size. This lucrative growth rate is estimated to fuel the demand for aircraft engines over the forthcoming years in the global market. Furthermore, with the increasing disposable income, a large chunk of population is finding air travel an affordable option which is in turn driving the aircraft engines market.
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Aircraft Engines Market Participants
Examples of some of the market participants in the global aircraft engines market, identified across the value chain include:
- Continental Motors Group
- Safran Aircraft Engines
- General Electric Co.
- Pratt & Whitney (United Technologies Corporation)
- IAE International Aero Engines AG
- United Engine Corporation
- Rolls-Royce plc
- Motor Sich JSC
- AVIC Aircraft Corporation Ltd.
- Aero Engine Corporation of China
- MTU Aero Engines AG
- Barnes Group Inc.
- Honeywell International Inc.
Aircraft Engines Market Segmentation
The aircraft engines market can be segmented in a number of ways. Some of the prominent basis of classification being product type, sales channel and application.
On the basis of product type, the aircraft engines market can be segmented into:
- Piston Based
On the basis of sales channel, the aircraft engines market can be segmented into:
- Line Fit
- Retro Fit
On the basis of application, the aircraft engines market can be segmented into:
- Commercial Aviation
- Narrow body aircraft
- Wide body aircraft
- Very large body aircraft
- Regional aircraft
- Business Aviation
- Military Aviation
- Recreational Aviation