Press release
Commercial Aircraft Gas Turbine Engine Market: Estimated Growth Curve, Trends, Size, Share, and Analysis Report 2024-2033
Commercial Aircraft Gas Turbine Engine Market
The commercial aircraft gas turbine engine market size is expected to see rapid growth in the next few years. It will grow to $104.49 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to continued air travel expansion, stringent environmental regulations, rising demand for wide-body aircraft, technological innovations in engine design, increasing focus on sustainable aviation. Major trends in the forecast period include application of advanced cooling technologies, focus on noise reduction solutions, integration of artificial intelligence (ai) in engine control, expansion of sustainable aviation fuels (saf), global shift toward more efficient engine architectures.
Market Overview -
The commercial aircraft gas turbine engine is a type of engine with internal combustion that runs aircraft. The engine absorbs reactive energy from fuel and transforms it into mechanical force by using the working fluid's gaseous energy (air) to power the engine and propeller, which in turn moves the airplane.
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Fuel-Efficient Aircraft Drive Growth In Commercial Aircraft Gas Turbine Engine Market
The increasing demand for a new generation of fuel-efficient airplanes is expected to propel the growth of the commercial aircraft gas turbine engine market in the coming future. Fuel-efficient airplanes refer to airplane engines or airplanes that consume less fuel than comparable engines or airplanes. The increasing demand for a new generation of fuel-efficient airplanes drives the commercial aircraft gas turbine engine market as greater fuel efficiency, ultimately contributing to lower prices and emissions resulting in environmental damage. For instance, in April 2021, according to ThinkPaper published by Eurocontrol, a Belgium-based government agency, predicted that by 2030, up to 4,286kg of CO2 emissions (25.8%) might be avoided in every flight compared to 2019, out of a total flight CO2 of 16,632 kilograms in the ECAC the region, an enormous advancement towards a perfect green getaway. Furthermore, 10% SAF use by 2030 would result in a CO2 savings of 1,331 kg or 8%. Therefore, increasing demand for a new generation of fuel-efficient airplanes drives the market.
Competitive Landscape -
Major companies operating in the commercial aircraft gas turbine engine market report are GE Aviation LLC, GKN Aerospace Services Ltd., Honeywell International Inc., MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce Holdings plc, International Aero Engines AG, Engine Alliance LLC, CFM International Inc., Powerjet Plastic Machinery CO. LTD., Pratt and Whitney Co., Safran S.A., Williams International Co. LLC, EuroJet Turbo GmbH, Textron Inc., Ishikawajima-Harima Heavy Industries Co.Ltd., Siemens Energy Inc., Mitsubishi Heavy Industries Ltd., Ansaldo Energia SpA, MAPNA Group, Caterpillar Inc., UEC NPO Saturn, Rotax Aircraft Engines, Solar Turbines Incorporated, Destinus Energy, MAN Energy Solutions SE, PBS Group, Teledyne Continental Motors, Spirit AeroSystems, Magellan Aerospace
The Surge Of Technological Innovations In The Commercial Aircraft Gas Turbine Engine Market
Technological advancements are the key trend gaining popularity in the commercial aircraft gas turbine engine market. Major companies operating in the commercial aircraft gas turbine engine market are focused on developing innovative technologies to strengthen their position in the market. For instance, in November 2022, Airbus SE, a Netherlands-based aircraft manufacturing corporation, revealed hydrogen-powered fuel cell engine development as hydrogen combustion in a gas turbine. The propulsion system is being examined as one of the viable alternatives for equipping its zero-emission aircraft, which is expected to enter service by 2035. The A380 MSN1 flight test aircraft is now being adapted to hold liquid hydrogen tanks and their related distribution systems for future hydrogen technologies.
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Key Segments -
The commercial aircraft gas turbine engine market covered in this report is segmented -
1) By Type: Narrow-Body, Wide-Body, Regional Jet
2) By Propulsion: Electric Based Commercial Aircraft, Special Fuel Based Commercial Aircraft
3) By Technology: Turbofan, Turbojet, Turboprop, Other Technology
4) By Aircraft Type: Light Commercial Aircraft, Heavy Commercial Aircraft, Passenger Based Aircraft, Cargo Based Multi-Model Aircraft
5) By Application: Commercial, Military
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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