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Global Airplane engine Market InsightJanuary 5, 2022 Comments
Global Airplane engine Market has witnessed growing treads over the five years. According to the World Knowledge Information (WKI)Global Airplane engine Market Report 2021, Forecast to 2026. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.5% base on WKI regression analysis model.
“With the continuous development of technology, there is a demand for engines with higher fuel efficiency, smaller size and lighter weight. With the gradual control of COVID-19, the increase of air travel has promoted the increase in aircraft sales, thereby driving the sales of aircraft engines.”said Wikky, Senior analyst, Global Airplane Market Research Center in WKI.
Airplane engine manufacturers are increasing their R&D and investment in high-end products,the key players focus on product expansion to enhance their market share.According to Market News：GE Aviation has developed and advanced turboprop engine.which is the first commercial aircraft engine with a large number of 3D printed components. The engine designers have reduced 855 separate parts down to 12 parts. This is expected to reduce the engine weight. which will require less fuel to achieve the same speed. Additive manufacturing makes the product durable and stronger. CFM international SA is developing an advanced LEAP engine that will be installed in The Boeing Company’s and Airbus’s new aircraft fleet of narrow-body aircraft 15% reduction in fuel burn and emissions is resulted by deploying complex 3D printed fuel nozzles on the engine.
The global Airplane engines market is dominated by major players such as CFM International SA ,Honeywell and GE Aviation, among others.These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.
Segmentation of Airplane engine Market:
Based on technology, the market is classified into a conventional engine and electric/hybrid engine. The conventional enginesegment is anticipated to hold the largest market share owing to the increasing adoption of the conventional engine in currentcommercial and military aircrafte. However, the electric/hybrid engine segment is predicted to be the fastest-growingsegment during the forecast period owing to the rising investment in research & development of electric/hyorid enginetechnology to reduce the carbon footprint and fuel consumption.
Airplane engine Market: Regional Analysis
In terms of geography, the Global Airplane engine market has been segmented into: North America, Asia-Pacific, Europe, South America, and the Middle East and Africa. The North American region is estimated to be the largest market for Airplane engine systems . The Airplane engine system market is expected to witness considerable growth in the Asia Pacific region during the forecast period due to the rising defense spending by the India Government.
Largest share area：North America
Largest share country：USA