Global Military Aerospace Engine Market Overview:
Military aircraft are heavy-duty machines which are built for extreme stresses and breathtaking manoeuvres. Considering the pace with technology is evolving, there would be major changes in aircraft engine attributed by economic and environmental concerns of fossils fuels. Accordingly, the requirements imposed on engines are very stringent.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Demand for Unmanned Aerial Vehicles and Market Players are Focusing on the Development of Fifth-Generation Fighter Aircraft
Market Growth Drivers:
The Emergence of Aircraft Manufacturers in Asia-Pacific and Latin America and Increase in Demand for Lightweight Aircraft Engines
Challenges:
High Cost Associated With New Technology and Stringent Government Regulation Regarding Aircraft Engine Manufacturing and Import & Export
Restraints:
Decreasing Defense Budgets Due to Economic Slowdown
Opportunities:
The Growth in Number of Military Aircraft Orders from Developing Nations and Increasing Demand for Fuel-Efficient Engines Worldwide
Competitive Landscape:
The competitive landscape of military aerospace engines is characterized by key players such as Rolls-Royce, General Electric (GE), Pratt & Whitney, and Safran. These companies dominate the market with their advanced engine technologies and extensive experience in the military aerospace sector. Competition is driven by factors such as engine performance, fuel efficiency, reliability, maintenance requirements, and lifecycle costs. Continuous research and development, strategic partnerships, and government contracts play a crucial role in shaping the competitive landscape of military aerospace engines.
Some of the key players profiled in the report are United Technologies (United States), MTU Aero Engines (Germany), Honeywell Aerospace (United States), Rostec (Russia), Rolls-Royce plc (United Kingdom), General Electric (United States), Safran S.A. (France), Hindustan Aeronautics Limited (India) and Aero Engine Corporation of China (China). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global Military Aerospace Engine market by 2028. Considering Market by Platform Type, the sub-segment i.e. Fixed Wing will boost the Military Aerospace Engine market.
Latest Market Insights:
In June 2019, it was announced that Raytheon and United Technologies Corporation (UTC) merged to create a new company called Raytheon Technologies Corporation. This merger created a major military-industrial behemoth, bringing together Raytheon's expertise in defense technology and UTC's aerospace capabilities. The merger aimed to enhance the combined company's ability to provide comprehensive solutions in the military aerospace and defense sectors. The new entity became a significant player in the industry, offering a wide range of products and services to meet the demands of global defense and aerospace markets.
In February 2022, Honeywell launched ultra-rugged inertial measurement units (IMUs) designed for both commercial and military customers. IMUs are critical components used for measuring and maintaining the position, orientation, and motion of various vehicles, including aircraft, unmanned systems, and ground vehicles. Honeywell's ultra-rugged IMUs are built to withstand harsh environments and deliver accurate and reliable data in real time. This launch demonstrates Honeywell's commitment to providing advanced navigation and motion-sensing solutions to meet the needs of diverse industries, including commercial and military applications.
The US Federal Aviation Administration and Europe’s EASA have mandated aircraft governing bodies to limit ETOPS (Extended Range, Twin Engined, Operation, Performance, Standards) to 140 or even 60 minutes from the 330 minutes certified originally amid incidents of 32 Boeing 787s grounded because problems with the Rolls-Royce Trent 1000-C engines.
What Can be Explored with the Military Aerospace Engine Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Military Aerospace Engine Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Military Aerospace Engine
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Military Aerospace Engine market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Military Aerospace Engine market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Aircraft Engines Manufacturer, Engines Parts Manufacturers, Turboshaft Engine manufacturers, Turboprop Engine Manufacturers, Turbofan Engine Manufacturers, Piston Engine Manufacturers, MRO Service Providers and Engine Distributors, Technology Support Providers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.