What is Aircraft Engine & Parts Market?
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.
The market study is being classified by Type (Propeller, Landing Gear, Control System and Other), by Application (Military and Civil) and major geographies with country level break-up.
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.
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. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Engine & Parts market throughout the predicted period.
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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increased Manufacturing of Aircrafts Due to Rapidly Increasing Air Traffic Across the Globe
- Increasing Investment in R&D of Fuel-efficient and Lower Weight Aircraft Engines
- Volatility in the Raw Material Cost Due to Fluctuations in Currency Rates
- The Expansion of Airline Industry Across the Globe
- Some of the Engines and Parts Require Extensive Maintenance
Market Leaders and some 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.
Key Target AudienceNew 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
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Aircraft Engine & Parts Market?
"Increased Manufacturing of Aircrafts Due to Rapidly Increasing Air Traffic Across the Globe" is seen as one of major growth factors of Aircraft Engine & Parts Market in years to come.
2. Can we have customized study for Aircraft Engine & Parts Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Aircraft Engine & Parts Market?
United States will lead Aircraft Engine & Parts Market in coming years.