Jet Engines Market Forecasts to 2032 - Global Analysis By Engine Type (Turbofan, Turbojet, Turboprop, Turboshaft, Ramjet and Other Engine Types), Component, Platform, Thrust Capacity, Technology and By Geography

According to Stratistics MRC, the Global Jet Engines Market is accounted for $182.80 billion in 2025 and is expected to reach $340.66 billion by 2032 growing at a CAGR of 9.3% during the forecast period. One kind of response engine that produces thrust is a jet engine, which releases exhaust gases at a high speed. It functions according to Newton's third law, which states that every action has an equal and opposite response. The engine draws air, compresses it, combines it with fuel, and ignites it. The aeroplane is propelled forward by the high-pressure exhaust gases that are released through a nozzle. Because of their tremendous speed and efficiency at altitude, jet engines are frequently found in aeroplanes.

Market Dynamics:

Driver:

Surging global air travel and fleet expansion

Airlines are growing their fleets in both established and emerging economies to handle the increase in passenger demand. In order to meet supply deadlines, manufacturers are forced to increase jet engine output due to this rise. The use of contemporary jet engines with reduced emissions and increased fuel efficiency is growing. The need for engine maintenance, repair, and overhaul services is also fuelled by fleet expansion. Overall, there is a significant and ongoing need for jet engines worldwide due to rising air traffic and fleet modernisation.

Restraint:

High R&D and compliance costs

Advanced jet engine development necessitates a large investment in materials, testing, and innovation. Strict safety, pollution, and noise regulations necessitate ongoing compliance activities, which drives up expenses even more. These costs delay down product launches and restrict the entry of new competitors. As a result of lower profitability and slower technological developments, market growth is constrained.

Opportunity:

Military modernization and defense demand

High-performance jet engines are necessary for the modern fighter planes, unmanned aerial vehicles, and transport aircraft that nations are investing in. Next-generation propulsion system development is being driven by the need for efficiency, speed, and stealth. Manufacturers of jet engines are concentrating on developing technology that improve fuel efficiency and thrust-to-weight ratios. The acquisition of improved air fleets is being driven by border tensions and strategic military partnerships. The market for jet engines is expected to increase strongly and steadily due to the ongoing defence requirement.

Threat:

Geopolitical and trade disruptions

Tariffs and trade restrictions hinder important manufacturers' access to markets and raise production costs. Political unrest in important areas that produce or consume aeroplanes discourages investment and lowers demand for new jet engines. Export restrictions and penalties may hinder global partnerships and joint ventures that are vital to innovation. In the end, these interruptions result in project delays, lower profitability, and limited worldwide expansion.

Covid-19 Impact

The COVID-19 pandemic significantly disrupted the jet engines market due to widespread travel restrictions and reduced air passenger traffic. Airlines postponed or canceled aircraft orders, leading to decreased demand for new jet engines and maintenance services. Supply chain disruptions further delayed production and delivery schedules. Additionally, financial constraints forced several aerospace companies to cut costs, affecting R&D investments. However, gradual recovery began post-2021 as air travel resumed, and market players adapted operations to new safety and efficiency standards.

The combustion chamber segment is expected to be the largest during the forecast period

The combustion chamber segment is expected to account for the largest market share during the forecast period, due to enhanced fuel efficiency and thrust output. It plays a critical role in improving thermal efficiency, enabling better performance and lower emissions. Advancements in combustion technology support the development of lightweight and durable materials that withstand extreme temperatures. Demand for low-emission and high-performance aircraft further drives innovation in this segment. Consequently, the combustion chamber remains a vital component in meeting evolving regulatory and operational standards.

The conventional jet engines segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the conventional jet engines segment is predicted to witness the highest growth rate, due to its widespread use in commercial and military aviation. These engines are well-established, reliable, and benefit from decades of technological advancements. Their compatibility with existing aircraft infrastructure ensures continued demand and ease of maintenance. Increasing global air travel and defense budgets further boost production and replacement needs. Additionally, ongoing enhancements in fuel efficiency and performance keep conventional jet engines relevant in modern aviation.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share due to rising air passenger traffic, increasing defense budgets, and expanding commercial aviation fleets, particularly in countries like China, India, and Japan. The region benefits from growing airline networks, new airport developments, and a shift toward fuel-efficient and next-gen engine technologies. Government support and domestic manufacturing initiatives are also accelerating local production and technology adoption, making Asia Pacific a major hub for future jet engine demand and innovation.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to the established aerospace giants and sustained defense spending. The market's growth is steady, supported by demand for advanced military aircraft, upgrades to existing fleets, and investments in sustainable aviation technologies like hybrid-electric propulsion. The presence of major OEMs and R&D facilities ensures continued technological leadership. However, commercial growth is relatively slower compared to Asia Pacific due to market saturation and aging infrastructure challenges.

Key players in the market

Some of the key players profiled in the Jet Engines Market include Pratt & Whitney, GE Aviation, CFM International, Safran Aircraft Engines, Rolls-Royce plc, Honeywell Aerospace, MTU Aero Engines AG, International Aero Engines (IAE), Engine Alliance, United Engine Corporation (Rostec), Aero Engine Corporation of China (AECC), IHI Corporation, Mitsubishi Heavy Industries Aero Engines, Textron Inc., Williams International, Klimov, Motor Sich and Centrax.

Key Developments:

In April 2025, Pratt & Whitney expanded its collaboration with MTU Aero Engines to boost MTU's annual GTF engine overhaul capacity to 600 shop visits across all engine variants. This strategic move strengthens the global MRO network, ensuring faster turnaround times and enhanced support for the growing GTF fleet worldwide.

In March 2025, GE expanded its additive manufacturing capabilities by investing $51 million in Auburn, Alabama, and $14 million in West Chester, Ohio. The investment supports scaling up production of 3D-printed components, including FAA-certified Catalyst turboprop engine parts, which are now composed of 30% 3D-printed elements.

Engine Types Covered:

• Turbofan
• Turbojet
• Turboprop
• Turboshaft
• Ramjet
• Pulsejet
• Other Engine Types

Components Covered:

• Compressor
• Turbine
• Combustion Chamber
• Nozzle
• Fan
• Gearbox
• Shaft
• Other Components

Platforms Covered:

• Commercial Aviation
• Military Aviation
• General Aviation
• Unmanned Aerial Vehicles (UAVs)
• Other Platforms

Thrust Capacities Covered:

• Less than 10 kN
• 10-20 kN
• 20-50 kN
• 50-100 kN
• More than 100 kN

Technologies Covered:

• Conventional Jet Engines
• Hybrid-Electric Jet Engines
• Electric Jet Engines

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances