Aircraft Turbofan Engine Market Soaring

  • Expansion of Commercial Aircraft Fleets Boding Well for Aircraft Turbofan Engine Market.
  • Global Aircraft Turbofan Engine Market to Witness a Healthy Growth of 7.35% over 2023.
  • North America has secured the pole position in the global aircraft turbofan engine market.

A turbofan engine is a type of jet engine which is used extensively for aircraft propulsion. The global aircraft turbofan engine market is driven by a variety of factors such as increasing investment on advanced technology solutions to achieve fuel efficiency.

Segmentation:

The global aircraft turbofan engine market has been segmented based on type and application.

By type, the aircraft turbofan engine market has been segmented into narrowbody, widebody, and others.

By application, the aircraft turbofan engine market has been segmented into commercial air transport and military aviation.

Regional Analysis:

By region, the aircraft turbofan engine market has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

North America has secured the pole position in the global aircraft turbofan engine market. The concentration of major market players in the region, and high demand from the commercial as well as the military aviation industry.

Growing air traffic in the APAC region due to a rise in disposable income, urbanization, and growing middle class demographic has translated high demand in the aircraft turbofan engine market. The emerging economies of the region are investing heavily on the procurement of turbofan engines to meet the capacity requirements of the burgeoning population.

Moreover, the growing demand for fuel-efficient aircraft and a heightened focus on energy efficiency has further boosted the growth of the market in the APAC. Moreover, India and China have initiated the development of various fighter aircraft programs which call for the procurement of aircraft turbofan engine market.

In Europe, the aircraft turbofan engine market is driven by emerging regulatory requirements to curtail greenhouse emissions.

Competitive Landscape:

Aviadvigatel, International Aero Engines AG, GE Aviation, Engine Alliance, CFM International, Rolls Royce, Safran Aircraft Engines, Honeywell International, EuroJet, Pratt & Whitney, and MTU Aero Engines are some of the prominent players in the aircraft turbofan engine market.

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Savni Pandit

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