Aircraft Engine Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, Segmented By Engine Type, By Aircraft Type, By Platform, By Application, By Region & Competition, 2021-2031F

Description

The Global Aircraft Engine Market is projected to expand from USD 84.21 Billion in 2025 to USD 132.01 Billion by 2031, achieving a CAGR of 7.78%. This sector encompasses the engineering and manufacturing of various propulsion systems, such as turbofan, turboshaft, and piston engines, which serve commercial, military, and general aviation needs. Key growth drivers include the continued resurgence of global air travel demand and the strategic imperative for operators to upgrade aging fleets with fuel-efficient technology to reduce operating costs. Data from the General Aviation Manufacturers Association highlights this trend, noting that the value of airplane deliveries rose by 14.3 percent to 26.7 billion dollars in 2024, directly fueling demand for both original equipment engines and aftermarket maintenance services.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 84.21 Billion
Market Size 2031	USD 132.01 Billion
CAGR 2026-2031	7.78%
Fastest Growing Segment	Turbofan
Largest Market	North America

Despite these favorable market conditions, the industry grapples with significant supply chain instability that severely restricts production capabilities. Persistent shortages of essential raw materials, including titanium and high-temperature superalloys, combined with delays in sourcing components, create bottlenecks that impede manufacturing schedules. Consequently, engine manufacturers are forced to manage these logistical obstacles while simultaneously attempting to clear a growing backlog of orders from airframe manufacturers and defense contractors.

Market Driver

The ongoing recovery in global commercial air passenger traffic establishes a critical need for fleet expansion and increased engine utilization rates. As airlines restore routes and boost flight frequencies to accommodate traveler numbers, the operational pressure on current propulsion assets escalates, triggering an immediate demand for new engine procurement and aftermarket support. The International Air Transport Association's '2024 Full-Year Passenger Market Performance' report from January 2025 indicates that global revenue passenger kilometers (RPKs) increased by 10.4 percent year-over-year. This growth compels major propulsion manufacturers to accelerate production to meet aggressive delivery timelines, a trend reflected in GE Aerospace's financial results, where third-quarter orders in 2024 surged by 28 percent to 12.6 billion dollars.

Simultaneously, the market is significantly shaped by the growing requirement for fuel-efficient and low-emission propulsion architectures as operators aim to meet sustainability goals and curtail volatile fuel costs. Carriers are aggressively retiring older, less efficient aircraft, replacing them with next-generation platforms featuring advanced high-bypass turbofans that deliver substantial improvements in specific fuel consumption and carbon emissions. This strategic fleet renewal represents a financial necessity for long-term viability rather than just regulatory compliance. According to Boeing's '2024 Commercial Market Outlook' released in July 2024, approximately half of the projected 44,000 new commercial airplane deliveries through 2043 will serve to replace older jets with more efficient models, thereby ensuring sustained demand for advanced engine programs.

Market Challenge

Supply chain instability remains a critical obstacle to the growth of the Global Aircraft Engine Market, limiting production capacity and causing delays in delivery schedules. The continued scarcity of vital raw materials, specifically titanium and high-temperature superalloys, creates immediate bottlenecks in the manufacturing of complex propulsion systems. These material shortages compel original equipment manufacturers to decelerate their assembly lines, impeding their ability to convert record-high order backlogs into realized revenue.

In addition, these logistical difficulties adversely affect the aftermarket sector, where a shortage of spare parts extends maintenance turnaround times and diminishes overall fleet availability. Operators are frequently forced to ground aircraft or incur substantial costs to lease temporary powerplants. According to the International Air Transport Association, supply chain disruptions and the resulting shortage of available engines are expected to impose 2.6 billion dollars in excess engine leasing costs on the airline industry in 2025. This financial burden diverts capital that would otherwise be used for new fleet acquisitions, ultimately suppressing broader market expansion.

Market Trends

The development of hydrogen-combustion and fuel cell powertrains marks a significant technological shift toward achieving absolute zero emissions, moving beyond the incremental efficiency gains of traditional gas turbines. Industry leaders are validating new architectures that employ cryogenic liquid hydrogen and fuel cell stacks to eliminate in-flight carbon output. This transition requires significant capital investment to address complex engineering hurdles involving fuel storage, thermal management, and power-to-weight ratios for future commercial aircraft. As reported by Flying Magazine in April 2025, Airbus has invested over 1.7 billion dollars in its hydrogen initiative to date, highlighting the substantial financial commitment needed to advance these propulsion technologies despite adjustments to the roadmap.

Concurrently, the implementation of AI-driven digital twins for predictive maintenance is reshaping the aftermarket landscape by creating virtual models that replicate physical engine performance in real time. By synthesizing sensor data with advanced analytics, operators can accurately forecast component degradation and arrange servicing before failures happen, moving maintenance strategies from reactive to proactive. This digitization of the maintenance, repair, and overhaul (MRO) sector enhances fleet availability and optimizes lifecycle costs through data verification across extensive historical sets. According to the '2024 Annual Report' from GE Aerospace in February 2025, the company successfully digitized 18 million past MRO records, allowing artificial intelligence models to systematically validate data and identify discrepancies to improve service reliability.

Key Market Players

General Electric Company
Safran SA
Rolls-Royce Holdings plc
RTX Corporation
CFM International
MTU Aero Engines AG
Honeywell International Inc
IAE International Aero Engines
Textron Inc
Aero Engine Corporation of China

Report Scope

In this report, the Global Aircraft Engine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Aircraft Engine Market, By Engine Type

Turbofan
Piston
Turboprop
Turboshaft

Aircraft Engine Market, By Aircraft Type

Narrow Body
Rotocrafts
Business Aircrafts
Fighter Aircrafts
Wide Body Aircrafts
Regional Aircrafts

Aircraft Engine Market, By Platform

Fixed Wing
Rotary Wing

Aircraft Engine Market, By Application

Commercial
Military

Aircraft Engine Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aircraft Engine Market.

Available Customizations:

Global Aircraft Engine Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Aircraft Engine Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Engine Type (Turbofan, Piston, Turboprop, Turboshaft)
- 5.2.2. By Aircraft Type (Narrow Body, Rotocrafts, Business Aircrafts, Fighter Aircrafts, Wide Body Aircrafts, Regional Aircrafts)
- 5.2.3. By Platform (Fixed Wing, Rotary Wing)
- 5.2.4. By Application (Commercial, Military)
- 5.2.5. By Region
- 5.2.6. By Company (2025)
5.3. Market Map

6. North America Aircraft Engine Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Engine Type
- 6.2.2. By Aircraft Type
- 6.2.3. By Platform
- 6.2.4. By Application
- 6.2.5. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Aircraft Engine Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Engine Type
    - 6.3.1.2.2. By Aircraft Type
    - 6.3.1.2.3. By Platform
    - 6.3.1.2.4. By Application
- 6.3.2. Canada Aircraft Engine Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Engine Type
    - 6.3.2.2.2. By Aircraft Type
    - 6.3.2.2.3. By Platform
    - 6.3.2.2.4. By Application
- 6.3.3. Mexico Aircraft Engine Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Engine Type
    - 6.3.3.2.2. By Aircraft Type
    - 6.3.3.2.3. By Platform
    - 6.3.3.2.4. By Application

7. Europe Aircraft Engine Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Engine Type
- 7.2.2. By Aircraft Type
- 7.2.3. By Platform
- 7.2.4. By Application
- 7.2.5. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Aircraft Engine Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Engine Type
    - 7.3.1.2.2. By Aircraft Type
    - 7.3.1.2.3. By Platform
    - 7.3.1.2.4. By Application
- 7.3.2. France Aircraft Engine Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Engine Type
    - 7.3.2.2.2. By Aircraft Type
    - 7.3.2.2.3. By Platform
    - 7.3.2.2.4. By Application
- 7.3.3. United Kingdom Aircraft Engine Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Engine Type
    - 7.3.3.2.2. By Aircraft Type
    - 7.3.3.2.3. By Platform
    - 7.3.3.2.4. By Application
- 7.3.4. Italy Aircraft Engine Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Engine Type
    - 7.3.4.2.2. By Aircraft Type
    - 7.3.4.2.3. By Platform
    - 7.3.4.2.4. By Application
- 7.3.5. Spain Aircraft Engine Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Engine Type
    - 7.3.5.2.2. By Aircraft Type
    - 7.3.5.2.3. By Platform
    - 7.3.5.2.4. By Application

8. Asia Pacific Aircraft Engine Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Engine Type
- 8.2.2. By Aircraft Type
- 8.2.3. By Platform
- 8.2.4. By Application
- 8.2.5. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Aircraft Engine Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Engine Type
    - 8.3.1.2.2. By Aircraft Type
    - 8.3.1.2.3. By Platform
    - 8.3.1.2.4. By Application
- 8.3.2. India Aircraft Engine Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Engine Type
    - 8.3.2.2.2. By Aircraft Type
    - 8.3.2.2.3. By Platform
    - 8.3.2.2.4. By Application
- 8.3.3. Japan Aircraft Engine Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Engine Type
    - 8.3.3.2.2. By Aircraft Type
    - 8.3.3.2.3. By Platform
    - 8.3.3.2.4. By Application
- 8.3.4. South Korea Aircraft Engine Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Engine Type
    - 8.3.4.2.2. By Aircraft Type
    - 8.3.4.2.3. By Platform
    - 8.3.4.2.4. By Application
- 8.3.5. Australia Aircraft Engine Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Engine Type
    - 8.3.5.2.2. By Aircraft Type
    - 8.3.5.2.3. By Platform
    - 8.3.5.2.4. By Application

9. Middle East & Africa Aircraft Engine Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Engine Type
- 9.2.2. By Aircraft Type
- 9.2.3. By Platform
- 9.2.4. By Application
- 9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Aircraft Engine Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Engine Type
    - 9.3.1.2.2. By Aircraft Type
    - 9.3.1.2.3. By Platform
    - 9.3.1.2.4. By Application
- 9.3.2. UAE Aircraft Engine Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Engine Type
    - 9.3.2.2.2. By Aircraft Type
    - 9.3.2.2.3. By Platform
    - 9.3.2.2.4. By Application
- 9.3.3. South Africa Aircraft Engine Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Engine Type
    - 9.3.3.2.2. By Aircraft Type
    - 9.3.3.2.3. By Platform
    - 9.3.3.2.4. By Application

10. South America Aircraft Engine Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Engine Type
- 10.2.2. By Aircraft Type
- 10.2.3. By Platform
- 10.2.4. By Application
- 10.2.5. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Aircraft Engine Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Engine Type
    - 10.3.1.2.2. By Aircraft Type
    - 10.3.1.2.3. By Platform
    - 10.3.1.2.4. By Application
- 10.3.2. Colombia Aircraft Engine Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Engine Type
    - 10.3.2.2.2. By Aircraft Type
    - 10.3.2.2.3. By Platform
    - 10.3.2.2.4. By Application
- 10.3.3. Argentina Aircraft Engine Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Engine Type
    - 10.3.3.2.2. By Aircraft Type
    - 10.3.3.2.3. By Platform
    - 10.3.3.2.4. By Application

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Aircraft Engine Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. General Electric Company
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Safran SA
15.3. Rolls-Royce Holdings plc
15.4. RTX Corporation
15.5. CFM International
15.6. MTU Aero Engines AG
15.7. Honeywell International Inc
15.8. IAE International Aero Engines
15.9. Textron Inc
15.10. Aero Engine Corporation of China