Global Aircraft Engines Industry was valued at USD 68.21 Billion in the year 2017. Global Aircraft Engines Industry is further estimated to grow at a CAGR of 5.09% from 2019 to reach USD 101.48 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Europe Industry is considered as the fastest growing Industry in the forecast period. At a country level, the U.S. is projected to grow at a strongly in the coming years.
Major market players in Aircraft engines Industry are Key Industry Players Honeywell International Inc., Boeing, Hindustan Aeronautics Limited (HAL), General Electric Co., Rolls-Royce plc, Extron Inc., GE Aviation, MTU Aero Engines AG, Safran SA, United Technologies Corporation—Pratt & Whitney Division, and other 12 companies detailed information is provided in research report. Rising research and development expenses to cater changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Aircraft Engines Industry:
Increase in production of aircraft due to development in the tourism sector
Balancing production and demand capacity
Rising demand in private jet
Changing government norms and regulations
The major shares of the Industry come from turbofan engine segment in Global Aircraft Engines Industry. On the other hand, Commercial Aviation, by application for this Industry is expected to grow at highest CAGR during the year 2018-2025.
Aircraft Engines Industry Segmentation:
• Rotary Wing
• Fixed Wing
• Piston Engine
• General Aviation
• Commercial Aviation
• Military Aviation
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa