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Europe Aircraft Engines Market Size (2024 - 2029)

The Europe Aircraft Engines Market is projected to experience growth driven by an increasing demand for new aircraft and engine replacements. This growth is supported by extensive integration efforts by aircraft OEMs and engine manufacturers to enhance performance and extend aircraft range. The market's expansion is further bolstered by investments in research and development of advanced technologies, including 3D printing and ceramic matrix composites, which are transforming the manufacturing cycle. Additionally, the focus on fuel efficiency and reduced operational costs is prompting innovations such as hybrid-electric jet engines, creating new business opportunities within the market.

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Market Size of Europe Aircraft Engines Industry

Europe Aircraft Engines Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 20.73 Billion
Market Size (2029) USD 25.01 Billion
CAGR (2024 - 2029) 3.82 %
Market Concentration High

Major Players

Europe Aircraft Engines Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Aircraft Engines Market Analysis

The Europe Aircraft Engines Market size is estimated at USD 20.73 billion in 2024, and is expected to reach USD 25.01 billion by 2029, growing at a CAGR of 3.82% during the forecast period (2024-2029).

The demand for aircraft engines is driven primarily by an increase in the order book of aircraft (business jet, commercial, or military aircraft) or as a replacement for the engines for the existing aircraft fleet. Aircraft OEMs and engine manufacturers are engaging in extensive integration efforts to enhance performance and extend the range of aircraft. The investments towards the R&D of such technologies are anticipated to bolster the market prospects during the forecast period.

The manufacturing cycle of aircraft engine OEMs is expected to undergo rapid transformation due to the increasing use of 3D printing and ceramic matrix composites to construct critical components of an aircraft engine. Aircraft operators are engrossed in employing operational engines with increased fuel efficiency and reduced overall operational costs. This has made aircraft OEMs and engine manufacturers engage in extensive integration efforts to enhance performance and extend the range of aircraft. New engines are technological marvels composed of advanced materials with increased durability to ensure performance without compromising their service life. Furthermore, emerging technologies such as a hybrid-electric jet engine are anticipated to enhance the current business opportunities for the market players.

Europe Aircraft Engines Industry Segmentation

An aircraft engine is a component of the aircraft’s advanced propulsion system that generates mechanical power. 

Based on the engine type, the market is segmented into piston and turbine. The aircraft engine market is also segmented on aircraft type into civil and commercial aviation, and military aviation. The report also offers the market size and forecasts for six countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD). 

Powerplant Type
Piston
Turbine
End-user
Civil and Commercial Aviation
Military Aviation
Geography
United Kingdom
France
Germany
Spain
Poland
Russia
Rest of Europe
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Europe Aircraft Engines Market Size Summary

The Europe Aircraft Engines Market is poised for growth, driven by increasing demand for aircraft across various segments, including business jets, commercial, and military aircraft. This demand is further fueled by the need to replace engines in the existing aircraft fleet. Aircraft original equipment manufacturers (OEMs) and engine manufacturers are heavily investing in research and development to enhance engine performance and extend aircraft range. The adoption of advanced manufacturing techniques, such as 3D printing and ceramic matrix composites, is expected to transform the manufacturing cycle, allowing for the production of engines with improved fuel efficiency and reduced operational costs. Emerging technologies, including hybrid-electric jet engines, are anticipated to create new business opportunities, further bolstering market growth.

The European aircraft engine market is characterized by a consolidated landscape, with major players like Safran SA, Rostec, Rolls-Royce plc, Pratt & Whitney, General Electric Company, and CFM International leading the industry. These companies are focusing on developing sustainable and high-quality gas turbine engines to maintain a competitive edge. Strategic partnerships between engine manufacturers and aircraft OEMs are being forged to create lightweight engines with reduced emissions. Notably, France's aviation sector, with key players like Airbus and Dassault, continues to drive market growth, supported by international collaborations and fleet modernization efforts. The market's competitive nature and the emphasis on innovation and sustainability are expected to enhance the presence of these companies in the coming years.

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Europe 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 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Powerplant Type

      1. 2.1.1 Piston

      2. 2.1.2 Turbine

    2. 2.2 End-user

      1. 2.2.1 Civil and Commercial Aviation

      2. 2.2.2 Military Aviation

    3. 2.3 Geography

      1. 2.3.1 United Kingdom

      2. 2.3.2 France

      3. 2.3.3 Germany

      4. 2.3.4 Spain

      5. 2.3.5 Poland

      6. 2.3.6 Russia

      7. 2.3.7 Rest of Europe

Europe Aircraft Engines Market Size FAQs

The Europe Aircraft Engines Market size is expected to reach USD 20.73 billion in 2024 and grow at a CAGR of 3.82% to reach USD 25.01 billion by 2029.

In 2024, the Europe Aircraft Engines Market size is expected to reach USD 20.73 billion.

Europe Aircraft Engines Market Report Snapshots

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