Jet Engines Market Is Expected to Grasp the CAGR of 7.8% by 2032 | Safran Group, GE Honda Aero Engines
The global jet engine market is driven by factors such as rise in application of turbofan and surge in preference for civil aviation
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, July 1, 2024 /EINPresswire.com/ -- The global ๐๐๐ญ ๐๐ง๐ ๐ข๐ง๐๐ฌ ๐๐๐ซ๐ค๐๐ญ is driven by factors such as increasing operations in commercial aircraft industry, which fuels the demand for jet engines. In addition, the market is influenced by growth in commercial aircraft deliveries. However, high cost of jet engine hampers the market growth to a certain extent. Moreover, unmanned aerial vehicle industry provides lucrative opportunities for market growth.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A34506
OEMs and aircraft manufacturers are concentrating on creating fuel-efficient jet engines to lower fuel usage. The emphasis that manufacturers have placed on airplane fuel efficiency is a result of rising fuel prices. One way to improve an aircraft's fuel economy is to reduce its overall weight. In order to lower the aircraft's overall weight, a number of manufacturers have created lightweight engines. makes use of lightweight materials such as carbon fiber. The aircraft engine market is growing due to composite materials such lightweight, high-strength reinforced polymers.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
Williams International, PRATT & WHITNEY, MTU Aeroengines, Roll Royce, PBS Group, Safran Group, GE Honda Aero Engines, IHI Corporation, Honeywell Corporation, Kawasaki
By application, the civil aviation segment held the highest market share in 2022, accounting for nearly three-fifths of the global jet engine market size and is estimated to maintain its leadership status throughout the forecast period. However, the same segment is projected to manifest the highest CAGR of 8.15% from 2023 to 2032, the growing International or domestic travel with respect to commercial operations carried out by individuals is considered under commercial aviation. The civil aviation industry continues to embrace technological advancements.
The surge in advancements in sensor technology and the rise in demand for unmanned aerial vehicles. UAVs, or unmanned aerial vehicles, are vital in today's military. Globally, there is an increase in need for combat unmanned aerial vehicles due to the escalation of asymmetric warfare tactics and territorial conflicts. In addition, a variety of commercial and civil uses for these turbofans and turbojets are being embraced. As a result, the market will probably see profitable expansion due to the increase in demand for these electric vehicles.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/18164a13b15a516f92d4483c03117b6f
Eco-friendly solutions are developed as a result of the crucial focus on environmental sustainability. Sustainable aviation fuels (SAFs) are among the alternative fuels that turbojet engines are converting to lessen their environmental impact. Concerned about lowering carbon emissions, the aviation sector is also exploring electric and hybrid-electric power systems more, particularly for smaller aircraft.
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By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-fourth of the global jet engine market revenue and is likely to dominate the market during the forecast period. The booming aviation industries in the Asia-Pacific region have fuelled the demand for jet engine. Asia-Pacific is expected to witness highest growth in forecast period owing to increase in aviation demand in the emerging markets of India and China. However, the same region is expected to witness the fastest CAGR of 9.05% from 2023 to 2032.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A34506
The jet engine industry is segmented into type application and region. On the basis of type, the market is bifurcated into turbofan and turbojet. On the basis of application, the market is segmented into civil aviation and military aviation. Region wise, the jet engine market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Aircraft Engines Market - https://www.globenewswire.com/news-release/2022/08/18/2501020/0/en/Aircraft-Engines-Market-to-Generate-158-46-Billion-by-2031-Allied-Market-Research.html
Aircraft Manufacturing Market - https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html
Aircraft Electrification Market - https://www.globenewswire.com/en/news-release/2023/05/05/2662272/0/en/Aircraft-Electrification-Market-Predicted-to-Reach-21-8-Billion-Globally-by-2032-at-13-5-CAGR-Allied-Market-Research.html
Electric Aircraft Market - https://www.prnewswire.com/news-releases/electric-aircraft-market-size-to-reach-23-5-billion-globally-by-2031-at-10-9-cagr-allied-market-research-301794157.html
David Correa
Allied Market Research
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