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America Aircraft Engines Market Size (2024 - 2029)

The America Aircraft Engines Market is projected to experience significant growth, driven by rising aircraft orders and the need for engine replacements within the existing fleet in North America and Latin America. Regulatory pressures to reduce aircraft emissions are fueling demand for advanced engines, prompting aircraft OEMs and engine manufacturers to focus on enhancing performance and extending range. Investments in research and development are expected to improve market prospects, while innovations such as 3D printing and hybrid-electric jet engines are set to transform the manufacturing process and expand business opportunities.

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Market Size of America Aircraft Engines Industry

America Aircraft Engines Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 33.72 Billion
Market Size (2029) USD 47.45 Billion
CAGR (2024 - 2029) 7.07 %
Fastest Growing Market North America
Largest Market North America
Market Concentration High

Major Players

America Aircraft Engines Market Major Players

*Disclaimer: Major Players sorted in no particular order

America Aircraft Engines Market Analysis

The America Aircraft Engines Market size is estimated at USD 33.72 billion in 2024, and is expected to reach USD 47.45 billion by 2029, growing at a CAGR of 7.07% during the forecast period (2024-2029).

  • The demand for aircraft engines is primarily driven by two factors: an increase in aircraft orders (including business jets, commercial, or military aircraft) and the replacement of engines within the existing aircraft fleet in North America and Latin America. Regulatory bodies such as the Federal Aviation Administration (FAA), International Civil Aviation Organization, and International Air Transport Association (IATA), among others, are placing a growing emphasis on reducing emissions from aircraft.
  • This focus is generating demand for new-generation aircraft engines. Aircraft OEMs and engine manufacturers are intensively integrating efforts to enhance performance and extend aircraft range. Anticipated investments in the research and development of these technologies are expected to bolster market prospects during the forecast period.
  • The manufacturing cycle of aircraft engine original equipment manufacturers (OEMs) is expected to transform rapidly due to the increased utilization of 3D printing and ceramic matrix composites in constructing critical engine components. Additionally, the emergence of technologies like hybrid-electric jet engines is anticipated to expand current business opportunities for market players.

America Aircraft Engines Industry Segmentation

The study of the aircraft engines market includes all the new engines installed on fixed and rotary-wing aircraft used in military, commercial, and general aviation aircraft. The aftermarket sales of the engine and its parts and sales of auxiliary power units (APUs) are excluded from the study.

The America aircraft engine market is segmented by engine type and geography. By engine type, the market is segmented into turbofan, turboprop, turboshaft, and piston. The report also covers the market sizes and forecasts for the aircraft engines market in major countries across North America and Latin America.

For each segment, the market size is provided in terms of value (USD).

Engine Type
Turbofan
Turboprop
Turboshaft
Piston
Geography
North America
United States
Canada
Latin America
Mexico
Brazil
Rest of Latin America
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America Aircraft Engines Market Size Summary

The American aircraft engines market is poised for significant growth, driven by increasing aircraft orders and the need to replace engines in the existing fleet across North America and Latin America. The market is influenced by regulatory bodies emphasizing emission reductions, which is spurring demand for new-generation engines. Aircraft manufacturers and engine producers are focusing on enhancing performance and extending range, supported by anticipated investments in research and development. The adoption of advanced manufacturing techniques, such as 3D printing and ceramic matrix composites, is expected to transform the production cycle of aircraft engines. Additionally, the development of hybrid-electric jet engines is anticipated to create new business opportunities within the market.

The turbofan segment is expected to dominate the market, benefiting from orders and deliveries across commercial, military, and general aviation sectors. Military modernization and fleet expansion plans in North America and Latin America are key drivers of this segment's growth. The stringent regulatory standards for engine performance and security create barriers to entry, favoring established manufacturers who can invest in the necessary research and development. The North American region leads the market, supported by increasing passenger traffic and substantial military budgets. Major players like Honeywell, General Electric, Pratt & Whitney, Rolls-Royce, and Safran dominate the market, competing on technology, quality, and price. The competitive landscape is expected to intensify with technological innovations and strategic partnerships, further fueling market growth.

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America Aircraft Engines Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Engine Type

      1. 2.1.1 Turbofan

      2. 2.1.2 Turboprop

      3. 2.1.3 Turboshaft

      4. 2.1.4 Piston

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

      2. 2.2.2 Latin America

        1. 2.2.2.1 Mexico

        2. 2.2.2.2 Brazil

        3. 2.2.2.3 Rest of Latin America

America Aircraft Engines Market Size FAQs

The America Aircraft Engines Market size is expected to reach USD 33.72 billion in 2024 and grow at a CAGR of 7.07% to reach USD 47.45 billion by 2029.

In 2024, the America Aircraft Engines Market size is expected to reach USD 33.72 billion.

America Aircraft Engines Market Report Snapshots

America Aircraft Engines Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)