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

The Global Aircraft Engine Shaft Market is projected to expand from USD 0.95 Billion in 2025 to USD 1.27 Billion by 2031, achieving a CAGR of 4.96%. This sector centers on the fabrication of high-strength rotating elements essential for transferring torque between the turbine and compressor sections of propulsion systems. Because these shafts are vital to engine operation, they must possess extraordinary durability to endure intense rotational velocities and thermal pressures. The market is principally propelled by the rising necessity for new military and commercial aircraft, a trend driven by the global increase in air passenger numbers and the extensive modernization of aging fleets. Furthermore, the industry's focus on enhanced fuel efficiency forces airlines to adopt next-generation engines, thereby directly intensifying the demand for these crucial components.

However, the market faces a substantial obstacle due to supply chain instability, specifically regarding the scarcity of aerospace-grade raw materials and limited specialized forging capabilities. These operational disruptions frequently lead to manufacturing delays and increased costs, complicating the ability of suppliers to adhere to delivery timelines. This pressure is exacerbated by the industry's immense backlog; according to the International Air Transport Association, the cumulative volume of unfulfilled new aircraft orders hit a record 17,000 units in 2024. This profound gap between current manufacturing capacities and sustained demand presents a formidable barrier to seamless market progression.

Market Driver

The growth of commercial aircraft fleets acts as a major driver for the Global Aircraft Engine Shaft Market, drastically influencing production schedules. As carriers aggressively update their operations to handle increasing passenger numbers and retire older, less efficient models, the manufacturing rates for turbofan engines have reached historic highs. This scale-up requires a concurrent boost in the production of essential low-pressure and high-pressure shafts capable of handling intricate structural loads and rotational dynamics. As noted by Boeing in their 'Commercial Market Outlook 2024-2043' released in July 2024, the aviation industry anticipates a long-term global requirement for 43,975 new commercial airplanes over the coming two decades to manage capacity growth and replace aging stock.

Simultaneously, rising defense budgets focused on aerial warfare capabilities are significantly increasing the need for high-performance engine parts. Governments are prioritizing the procurement of next-generation fighter jets and military transport aircraft, which demand specialized engine shafts built to endure greater thermal loads and torque compared to standard civilian versions. According to the Stockholm International Peace Research Institute's April 2024 'Trends in World Military Expenditure, 2023' Fact Sheet, global military spending rose by 6.8 percent in real terms to 2,443 billion USD, indicating increased investment in defense technologies like aerial propulsion. This purchasing surge supports the entire propulsion supply chain; for instance, GE Aerospace reported total full-year orders of 79.2 billion USD for 2023, highlighting the strong financial momentum underpinning engine component production.

Market Challenge

Supply chain instability, particularly the shortage of specialized forging capacity and aerospace-grade raw materials, represents a critical hurdle that directly impedes the Global Aircraft Engine Shaft Market's expansion. These shafts necessitate high-performance inputs, such as nickel-based superalloys and titanium, combined with precision forging to survive extreme rotational stresses. Existing deficits in these specific resources result in severe production bottlenecks, as manufacturers are unable to finalize propulsion system assemblies without these vital parts. Consequently, the failure to secure forging slots and raw materials stops suppliers from transforming the industry's massive order backlog into actual revenue, effectively limiting market growth.

This operational strain disrupts the entire aerospace value chain, resulting in substantial delays in end-product delivery despite strong demand. The severity of this limitation is highlighted by recent output data. According to the International Air Transport Association, global aircraft deliveries in 2024 dropped to 1,254 units, a figure roughly 30% lower than pre-pandemic production highs. This decline in deliveries, caused primarily by the inability to source critical engine components like shafts rather than a scarcity of orders, illustrates how supply chain fractures are actively restraining the market's growth potential.

Market Trends

The advancement of specialized shafts for Geared Turbofan (GTF) engine configurations is significantly reshaping the technological dynamics of the market. In contrast to traditional direct-drive systems, geared turbofan engines separate the fan from the low-pressure turbine and compressor, requiring an intricate arrangement of gearboxes and high-performance shafts to handle differing rotational speeds. This design greatly improves propulsive efficiency and lowers noise levels, fueling a rise in demand for the robust, high-torque shafts needed for these modern propulsion systems. The commercial success of this trend is clear; according to an RTX press release in July 2024, Pratt & Whitney accumulated over 950 orders and commitments for their GTF engines within the year, indicating a lasting production need for these unique shaft components.

At the same time, the adoption of Digital Twin technology for predictive shaft maintenance is becoming a vital value-added service for engine operators. This innovation involves using sensor-equipped shafts that relay real-time information regarding thermal stress, vibration, and torque to a virtual replica, allowing operators to shift from fixed schedules to condition-based maintenance. By anticipating component fatigue before failure, airlines can extend the lifespan of these costly rotating parts and minimize unplanned downtime. The financial drive for such monitoring tools is highlighted by the thriving aftermarket; GE Aerospace reported in January 2025 that total orders for commercial engines and services increased by 38 percent for the full year 2024, creating a vast installed base that requires efficient, data-led maintenance strategies to ensure operational reliability.

Key Market Players

• Rolls-Royce Holdings
• General Electric Aerospace
• Safran Aircraft Engines
• Pratt & Whitney
• MTU Aero Engines
• Kawasaki Heavy Industries
• GKN Aerospace
• IHI Corporation
• Parker Hannifin
• Collins Aerospace

Report Scope

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

Aircraft Engine Shaft Market, By Engine Type

• Turboprop
• Turbofan
• Turboshaft
• Piston

Aircraft Engine Shaft Market, By Material

• Steel
• Iron

Aircraft Engine Shaft Market, By Aircraft Type

• Narrow Body Aircrafts
• Wide Body Aircrafts
• Regional Aircrafts
• Business Aircrafts
• Rotorcrafts
• Fighter aircrafts

Aircraft Engine Shaft Market, By Application

• Commercial
• Military

Aircraft Engine Shaft 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 Shaft Market.

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