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Aircraft Engine Market by Type (Turboprop, Turbofan, Turboshaft,
Piston Engine), Platform (Fixed wing, Rotary Wing, UAV),
Component(Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel
System), Technology, and Region - Forecast to 2026
[222 Pages Report] The aircraft engine market size is projected to grow from USD 60.8 billion in
2021 to USD 92.9 billion by 2026, at a CAGR of 8.9% from 2021 to 2026. The market is driven by
various factors, such as the increasing commercial aviation industry and rising demand for fuel-
efficient aircraft engines.
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COVID-19 Impact on the Aircraft Engine Market
The aircraft engine market includes major players General Electric Company (US), Safran SA
(France), Honeywell International Inc (US), MTU Aero Engine (Germany), and Rolls Royce PLC (UK).
These players have spread their business across various countries includes North America, Europe,
Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well.
Industry experts believe that COVID-19 has affected the aviation industry in production and
services globally in 2020.
The COVID-19 pandemic has impacted the industrial verticals adversely, resulting in a sudden dip in
2020 aircraft engines orders and deliveries. This is expected to negatively impact the aircraft
engine market in the short term, with slow recovery expected in Q1 of 2021.
Aircraft Engine Market Dynamics
Driver: Increasing operations in commercial aircraft industry
The commercial aircraft industry majorly consists of two segments which are the passenger aircraft
industry and cargo aircraft industry. In recent times both industries have seen a rapid rise in
operations which provided a boost to the commercial aircraft indust