What is Aircraft Engine & Parts Market Scope?
An aircraft Engine or aero-engine is the power component of an aircraft propulsion system. The aircraft engine provides mechanical force to power the aircraft and associated accessories necessary for flight. Different types of engines are used according to the desired performance. However, engines can be placed either on the front or back of an aircraft and are encased in a cover called a cowling, which direct airflow and assist powerplant cooling systems.
Influencing Trend:
Increasing Investment in R&D of Fuel-efficient and Lower Weight Aircraft Engines
Market Growth Drivers:
Increased Manufacturing of Aircrafts Due to Rapidly Increasing Air Traffic Across the Globe
Challenges:
Some of the Engines and Parts Require Extensive Maintenance
Restraints:
Volatility in the Raw Material Cost Due to Fluctuations in Currency Rates
Opportunities:
The Expansion of Airline Industry Across the Globe
The Aircraft Engine & Parts market study is being classified by Type (Propeller, Landing Gear, Control System and Other), by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Aircraft Engine & Parts market throughout the predicted period.
GE Aviation (United States), Pratt & Whitney (United States), Kawasaki Heavy Industries (Japan), Rolls-Royce (United Kingdom), Zodiac Aerospace (France), Thales Group (France), Safran S.A. (France), DuPont (United States), The Boeing Company (United States) and Lockheed Martin Corporation (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Aircraft Engine & Parts market by Type, Application and Region.
On the basis of geography, the market of Aircraft Engine & Parts 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).
Market Influencers and their Development Strategies
In March 2021, GE Aviation announced the combination of GECAS and AerCap to strengthen GE's performance, operations, and culture. The combined company will be one of aviation leasing’s leading franchises, bringing together complementary portfolios across aircraft, engines, and helicopters
In June 2021, GE and Safran decided to develop a new open-bladed jet engine to reduce fuel use and emissions. The system will contain hybrid-electric propulsion and be capable of running on 100% sustainable fuel or hydrogen, an energy source favored by Airbus. According to the CEO of GE Aviation, the new engine would be ready to compete for whatever jet might be launched and challenged other engine makers to compete with the technology.
The Pilot Records Database (PRD) is a clearinghouse administered by the Federal Aviation Administration that facilitates the sharing of pilot records among air carriers and operators. Before making a hiring decision, all air carriers and operators listed by Part 111 can register to access the PRD and assess the available FAA data for each individual pilot candidate. Pilots with a current medical certificate and an FAA Commercial, Airline Transport Pilot, or Remote Pilot certificate can register in PRD and view their FAA records. Air carriers that have decided to use PRD as part of their employment process may ask pilots to use PRD to obtain consent for them to look at their FAA records as part of the hiring process.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Aircraft Engine & Parts Manufacturers, Suppliers and Distributors of Aircraft Engine & Parts, Raw Material Manufacturers of Aircraft Engine & Parts, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
Aircraft Engine & Parts Market Study: Important Years
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 |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Aircraft Engine & Parts Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Aircraft Engine & Parts industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.