Global Commercial Aircraft Engine Growth Opportunities

Global Commercial Aircraft Engine Growth Opportunities

Sustainable Aviation Fuel, Digital Capabilities, and Strategic Partnerships to Drive Future Growth Potential

RELEASE DATE
29-Apr-2022
REGION
Global
Research Code: PCD1-01-00-00-00
SKU: AE01581-GL-MT_26507
$4,950.00
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$4,950.00
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Description

The global commercial aircraft engine market is prioritizing solutions that increase aircraft fuel efficiency and help airlines achieve sustainability targets. This Frost & Sullivan study provides an 11-year market forecast from 2022 to 2032, covering aircraft engines used in commercial narrow-body, wide-body, regional jet, and turboprop aircraft. The total market was worth $29.94 billion in revenue in 2021 and, considering the COVID-19 pandemic impact, should witness a compound annual growth rate (CAGR) of 7.9% from 2021 to 2032. The study also examines revenues across the linefit, retrofit, and aftermarket segments. In 2021, linefit accounted for 84.3% of the market share, driven by the delivery of new aircraft to airlines. Demand for retrofit and aftermarket services comes from the airlines’ need to maintain existing aircraft fleets.

Demand for narrow-body aircraft like Boeing 737 Max and Airbus A320neo will spur demand for aircraft engines. However, pandemic-related air travel decline and weak demand for regional jets and turboprop aircraft have led Mitsubishi Aerospace and De Havilland Canada to cease the manufacture of SpaceJet and Dash-8, respectively. Furthermore, the Russo-Ukraine War limits the opportunities for aircraft engine manufacturers to market their equipment to Russian-built commercial aircraft.

The study includes regional analyses for Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Demand for new aircraft, which led to peak production levels in 2018, came from emerging economies, particularly China. Although it could take until 2024 to return to pre-pandemic levels of production, China and other Asian countries are expected to remain the largest customers ordering new aircraft. Airlines in the United States and Europe are more focused on restructuring their fleets by replacing old aircraft with more fuel-efficient ones to manage operational expenditure and maintenance costs.

GE Aviation, CFM, Rolls-Royce, and Pratt & Whitney are the four leading commercial aircraft engine manufacturers. They prioritize utilizing new technologies such as additive manufacturing and aircraft engine health monitoring systems to support airlines through maintenance, repair, and overhaul services. They also partner with other industry stakeholders to reduce their carbon footprint, primarily through sustainable aviation fuel research and usage.

Key Issues Addressed

  • What is the size and state of the global commercial aircraft engine market? 
  • How has the COVID-19 pandemic affected the market?
  • What are the market growth drivers and restraints?
  • How will the latest technology trends affect the market?
  • Who are the key market participants, and how well-positioned are they competitively?
  • What are the significant growth opportunities for commercial aircraft engine manufacturers?

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Commercial Aircraft Engine Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Key Market Participants

List of Commercial Aircraft Engines

List of Commercial Aircraft Engines (continued)

Key Growth Metrics

Linefit Market Value Chain

Retrofit and Aftermarket Market Value Chain

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Segment

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Competitive Environment

Revenue Share

Revenue Share Analysis

Patent Landscape—Additive Manufacturing for Aircraft Engine

Commercial Aircraft Health Monitoring

Commercial Aircraft Health Monitoring Process

Commercial Aircraft Health Monitoring Application

Patent Landscape—Aircraft Engine Health Monitoring

Sustainable Aviation Fuel Regulations

Sustainable Aviation Fuel Regulations (continued)

Sustainable Aviation Fuel Regulations (continued)

Sustainable Aviation Fuel Regulations (continued)

Sustainability Initiatives from Aircraft Engine OEMs

Sustainability Initiatives from Aircraft Engine OEMs (continued)

Sustainability Initiatives from Aircraft Engine OEMs (continued)

Role of Key Stakeholders in Increasing Sustainable Aviation Fuel Use

GE Aviation’s MRO Program

Rolls-Royce’s MRO Program

Pratt & Whitney’s MRO Program

Key Growth Metrics for Asia-Pacific

Revenue Forecast for Asia-Pacific

Revenue Forecast Analysis for Asia-Pacific

Key Growth Metrics for North America

Revenue Forecast for North America

Revenue Forecast Analysis for North America

Key Growth Metrics for Europe

Revenue Forecast for Europe

Revenue Forecast Analysis for Europe

Key Growth Metrics for Latin America

Revenue Forecast for Latin America

Revenue Forecast Analysis for Latin America

Key Growth Metrics for the Middle East and Africa

Revenue Forecast for the Middle East and Africa

Revenue Forecast Analysis for the Middle East and Africa

Growth Opportunity 1: Increase R&D in Manufacturing Aircraft Engines Fully Powered by Sustainable Aviation Fuel

Growth Opportunity 1: Increase R&D in Manufacturing Aircraft Engines Fully Powered by Sustainable Aviation Fuel (continued)

Growth Opportunity 2: Enhance Digital Capabilities to Provide Valuable Insights to Airlines

Growth Opportunity 2: Enhance Digital Capabilities to Provide Valuable Insights to Airlines (continued)

Growth Opportunity 3: Form Strategic Partnerships with Independent MRO Vendors to Expand Footprint

Growth Opportunity 3: Form Strategic Partnerships with Independent MRO Vendors to Expand Footprint (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

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Related Research
The global commercial aircraft engine market is prioritizing solutions that increase aircraft fuel efficiency and help airlines achieve sustainability targets. This Frost & Sullivan study provides an 11-year market forecast from 2022 to 2032, covering aircraft engines used in commercial narrow-body, wide-body, regional jet, and turboprop aircraft. The total market was worth $29.94 billion in revenue in 2021 and, considering the COVID-19 pandemic impact, should witness a compound annual growth rate (CAGR) of 7.9% from 2021 to 2032. The study also examines revenues across the linefit, retrofit, and aftermarket segments. In 2021, linefit accounted for 84.3% of the market share, driven by the delivery of new aircraft to airlines. Demand for retrofit and aftermarket services comes from the airlines’ need to maintain existing aircraft fleets. Demand for narrow-body aircraft like Boeing 737 Max and Airbus A320neo will spur demand for aircraft engines. However, pandemic-related air travel decline and weak demand for regional jets and turboprop aircraft have led Mitsubishi Aerospace and De Havilland Canada to cease the manufacture of SpaceJet and Dash-8, respectively. Furthermore, the Russo-Ukraine War limits the opportunities for aircraft engine manufacturers to market their equipment to Russian-built commercial aircraft. The study includes regional analyses for Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Demand for new aircraft, which led to peak production levels in 2018, came from emerging economies, particularly China. Although it could take until 2024 to return to pre-pandemic levels of production, China and other Asian countries are expected to remain the largest customers ordering new aircraft. Airlines in the United States and Europe are more focused on restructuring their fleets by replacing old aircraft with more fuel-efficient ones to manage operational expenditure and maintenance costs. GE Aviation, CFM, Rolls-Royce, and Pratt & Whitney are the four leading commercial aircraft engine manufacturers. They prioritize utilizing new technologies such as additive manufacturing and aircraft engine health monitoring systems to support airlines through maintenance, repair, and overhaul services. They also partner with other industry stakeholders to reduce their carbon footprint, primarily through sustainable aviation fuel research and usage.--BEGIN PROMO--

Key Issues Addressed

  • What is the size and state of the global commercial aircraft engine market 
  • How has the COVID-19 pandemic affected the market
  • What are the market growth drivers and restraints
  • How will the latest technology trends affect the market
  • Who are the key market participants, and how well-positioned are they competitively
  • What are the significant growth opportunities for commercial aircraft engine manufacturers
More Information
Author Waseem Ahmed Khan
Industries Aerospace, Defence and Security
No Index No
Is Prebook No
Podcast No
WIP Number PCD1-01-00-00-00