Global Commercial Aircraft Gas Turbine Engine Market Overview:
Commercial aircraft gas turbines is the workhorses of the Morden aviation industry. A gas turbine is a rotary engine that can extract energy from a flow of combustion gases. A gas turbine referred as the jet engine. A commercial aircraft gas turbines are constantly being refined and improved. This efficient technology plays a significant role in modern transportation and energy production. Commercial aircraft gas turbines are likely to remain the powerplant of choice for commercial aviation. There are a wide range of advantages they present, including a high-power weight ratio, quick start and response, flexibility in fuels, fast charging and loading, low capital cost, etc.; they provide the motive power for jet propulsion. Increasing modernization in the commercial aviation sector is the key factor driving this market.
Attributes | Details |
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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:
Sustainable aviation fuels are rapidly gaining traction and The usage of ceramic matrix composites
Market Growth Drivers:
Increasing government support in the form of grants, subsidies, and favourable polies.
Challenges:
High initial cost of development and manufacturing of advanced gas turbine engine. and Geopolitical factors such as, political instability, trade tension.
Restraints:
Fluctuation of fuel prices can impact the aviation industry and Limited capabilities in aircraft airframes.
Opportunities:
Enhance the fuel efficiency of gas turbine engines. and Innovation in material and manufacturing process can lead to lighter, more durable engine components.
Competitive Landscape:
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.
Some of the key players profiled in the report are General Electric (United States), Eurojet (Germany), Honeywell international Inc (United States), IHI corporation (Japan), Williams International (United States), JSC klimove (Russia), Kawasaki heavy industries Ltd (Japan), Mitsubishi heavy industries Ltd (Japan), Lockheed Martin corporation (United States), MTU aero engine AG (Germany) and Safran (France). Additionally, following companies can also be profiled that are part of our coverage like GKN aerospace service limited (United Kingdom), Pratt and Whitney (United States), Rolls- Royce (United Kingdom), CFM international (United States), Lufthansa Technik (Germany) and RTX (United States). Considering Market by Type, the sub-segment i.e. Narrow-Body Aircraft will boost the Commercial Aircraft Gas Turbine Engine market. Considering Market by Technology, the sub-segment i.e. Turbofan will boost the Commercial Aircraft Gas Turbine Engine market. Considering Market by Component, the sub-segment i.e. Compressor will boost the Commercial Aircraft Gas Turbine Engine market.
Latest Market Insights:
In June 2023, Oerlikon and MTU aero engine have entered five-year partnership to developed materials and coatings for aero engines. In this acquisition will focus on the development of coatings and materials for engine parts for aspects of manufacturing such as automation, digitization, and for the maintenance sector.
In June 2021, GE aviation and Safran has launched the bold technology development program targeting more than 20% lower fuel consumption and CO2 emission compared to today’s engines. and In august 2023, Safran aero booster has launched the new Safran compressor blade plant for aircraft engine. There are hundreds of blades in the compressor. They are a key component in our supply chain. Managing their production in both technical and logistical terms will guarantee our performance”.
What Can be Explored with the Commercial Aircraft Gas Turbine Engine Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Commercial Aircraft Gas Turbine Engine Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Commercial Aircraft Gas Turbine 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 Commercial Aircraft Gas Turbine 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 Commercial Aircraft Gas Turbine 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 Supplier, Manufacturer, Research organization, Government Regulatory 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.