Jet Engines Market
The global jet engine market is driven by factors such as rise in application of turbofan and surge in preference for civil aviation
PORTLAND, OR, US, February 5, 2024 /EINPresswire.com/ -- Jet Engine Market by Type (Turbofan and Turbojet) and Application (Military Aviation and Civil Aviation): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the global jet engine market was valued at $67.0 Billion in 2022, and is projected to reach $140.0 Billion by 2032, registering a CAGR of 7.84% from 2023 to 2032.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A34506
Technological developments, environmental concerns, and changing consumer needs foster transformative trends in the global turbojet engine market. The constant quest for improved effectiveness and performance is one such trend. To maximize fuel efficiency and increase thrust-to-weight ratios, manufacturers are investing in materials such as lightweight composites and sophisticated aerodynamics, which is expected to lead to the creation of turbojet engines that are more potent and efficient.
By type, the turbofan segment held the highest market share in 2022, accounting for more than half of the global jet engine market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the rapid urbanization and industrialization in the developing countries including India and China drives the growth of this market, primarily fostering the growth of the overhead segment. The rise in efforts to develop indigenous turbofan engines by developing nations in Asia Pacific region to support the segment demand. Properties like ease of maintenance and better fuel efficiency has allowed the turbofan engine to cater a wider market.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/jet-engines-market/purchase-options
By application, the civil aviation segment held the highest market share in 2022, accounting for nearly three-fifths of the global jet engine market and is estimated to maintain its leadership status throughout the forecast period. However, the same segment is projected to manifest the highest CAGR of 8.15% from 2023 to 2032, the growing International or domestic travel with respect to commercial operations carried out by individuals is considered under commercial aviation. The civil aviation industry continues to embrace technological advancements.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
GE Honda
Safran Group
Roll Royce
Honeywell Corporation
Kawasaki
Williams International
MTU Aeroengines
PBS Group
PRATT & WHITNEY
The report provides a detailed analysis of these key players in the global jet engine market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A34506
These jet engines enable high-speed flight and efficient propulsion. Some types of jet engines such as turbojets offer high speeds, while turbofans prioritize fuel efficiency for commercial aircraft. Jet engines are vital for military aviation and powering fighters & bombers. Their versatility extends to maritime and industrial applications, showcasing adaptability across diverse fields. These engines illustrate efficiency, engineering excellence, combining power, and reliability to drive modern air travel and various technological advancements. Such factors drive the demand in the jet engine market.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-fourth of the global jet engine market revenue and is likely to dominate the market during the forecast period. The booming aviation industries in the Asia-Pacific region have fuelled the demand for jet engine. Asia-Pacific is expected to witness highest growth in forecast period owing to increase in aviation demand in the emerging markets of India and China. However, the same region is expected to witness the fastest CAGR of 9.05% from 2023 to 2032.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
The turbofan segment was the highest revenue contributor with $37.0 billion in 2022, and is estimated to reach $83.0 billion by 2032, with a CAGR of 8.46%.
The civil aviation segment is estimated to reach $90.0 billion by 2032, at a significant CAGR of 8.15% during the forecast period.
Asia-Pacific was the highest revenue contributor, accounting for $21.0 billion in 2022, and is estimated to reach $50.0 billion by 2032, with a CAGR of 9.05%.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Satellite Payload Market - https://www.globenewswire.com/en/news-release/2023/10/23/2764395/0/en/Satellite-Payload-Market-to-Generate-17-6-Billion-by-2030-with-8-3-CAGR-states-Allied-Market-Research.html
Aircraft Micro Turbine Engine Market - https://www.globenewswire.com/news-release/2021/12/09/2348772/0/en/Aircraft-Micro-Turbine-Engine-Market-to-Generate-75-9-Million-in-2030-Allied-Market-Research.html
Aircraft Manufacturing Market - https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html
Aircraft Fuel Systems Market - https://www.prnewswire.com/news-releases/aircraft-fuel-systems-market-to-reach-15-7-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301867967.html
David Correa
Allied Market Research
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