About Military Aircraft Engines
The global military aircraft engines market is expected to grow at a sluggish pace during the foorecast period, according to the AMA study. The growing worldwide defense spending and increasing demand for acquisition of new generation miliatry combat aircraft by different defense forces are some of the major drivers of this market. However, the outbreak of COVID-19 pandemic across the world is one of the major challenge for the aerospace & defense industry which has created a worldwide economic crisis due to shutting down of aerospace industry production & services for an ambiguous period of time.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on development of new & innovative aircraft engines to cater to market's demand to remain competitive in the global market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Military Aircraft Engines market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rolls-Royce plc (United Kingdom), Raytheon Technologies Corporation (United States), Honeywell International Inc. (United States), CFM International (United States), Safran (France), GE (United States) and Hindustan Aeronautics Limited (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Military Aircraft Engines market by Type (Turbojet, Turboshaft, Turbofan and Turboprop), Application (Combat Aircraft, Tankers & Carriers, UAVs and Helicopters) and Region.
On the basis of geography, the market of Military Aircraft Engines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. OEMs will boost the Military Aircraft Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing Adoption & Deployment of Military UAVs and Development of Fuel Efficient Military Aircraft Engines
Market Growth Drivers:
The Growing Worldwide Defense Expenditure and Introduction of Next Generation Combat Aircraft & Helicopters
Challenges:
The Current Economic Crisis Across Different Countries & Aerospace Industry Due to Outbreak of COVID-19 Pandemic Across the World is Expected to Impact the Global Defense Expenditure for the Next Few Years
Restraints:
The Outbreak of COVID-19 Pandemic is One of the Major Factors Impacting the Overall Aerospace & Defense Industry by Creating a Economic Crisis with Huge Losses to the Industry
Market Leaders and their expansionary development strategies
In April 2020, Raytheon Company announced that it has completed the previously announced equal merger with United Technologis Corporation.
In December 2022, Raytheon Technologies announced the successful first engine run of the company's regional hybrid-electric flight demonstrator. Hybrid-electric propulsion technology offers significant potential to optimize efficiency across a range of different aircraft applications, helping our industry meet its ambitious goal for achieving net zero CO2 emission.
Stringent Government Aviation Regulations Regarding Fuel & Power Efficiency of Military Aircraft Engines
Analyst View
North America region dominated the military aircraft engines market in 2019 due to the presence of largest number of fleet of military aircraft and the requirement of periodic maintenance and replacement of aircraft engines which is one of the major drivers for North American military aircraft engines market.
Key Target Audience
Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.