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36% of Growth to Originate from Europe for Aircraft Turbofan Engine Market | Evolving Opportunities with EuroJet Turbo GmbH and General Electric Co. | 17000+ Technavio Reports

·5 min read

NEW YORK, Dec. 24, 2021 /PRNewswire/ -- 36% of the growth will originate from Europe for the aircraft turbofan engine market. The UK and Germany are the key markets for aircraft turbofan engines in Europe. Market growth in this region will be faster than the growth of the market in North America. The global aircraft turbofan engine market is expected to grow by USD 629.51 million from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 4.37% as per the latest report by Technavio.

Attractive Opportunities in Aircraft Turbofan Engine Market by Application and Geography - Forecast and Analysis 2022-2026
Attractive Opportunities in Aircraft Turbofan Engine Market by Application and Geography - Forecast and Analysis 2022-2026

For more insights on the aircraft turbofan engine market- View FREE sample report in MINUTES

Read the 120-page report with TOC on "Aircraft Turbofan Engine Market Analysis Report by Application (defense aviation and civil aviation) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts,2022-2026." Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/aircraft-turbofan-engine-market-industry-analysis

Aircraft Turbofan Engine Market - Driver & Challenge

The demand for air travel is expected to be boosted by the rising affluence of the middle-class population in emerging markets. Also, the demand for commercial aircraft is likely to witness a surge due to the growth in air travel in key countries like China, Russia, India, Indonesia, and the US. The year-over-year increase in air traffic has made the induction of new aircraft necessary to cater to the growing demand. Hence, aircraft OEMs and their suppliers are revamping their production facilities to ensure that aircraft deliveries take place as scheduled.

However, countries cannot afford to adopt every new technology that emerges as it will result in downtime in their defense aircraft. Several other challenges that come with the introduction of new technology are its prohibitive cost, technology risks that are driven by stringent certification requirements, and the need for the required expertise. Technologically advanced equipment must also go through a rigorous testing and evaluation process prior to certification. In addition, innovations require substantial backing and support from prominent manufacturers and MRO service providers in the defense market.

To know more about drivers & challenges - Download a free sample now!

Some of key Aircraft Turbofan Engine Players:

The aircraft turbofan engine market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

  • EuroJet Turbo GmbH

  • General Electric Co.

  • Honeywell International Inc.

  • Ivchenko-Progress SE

  • Liebherr-International AG

  • PowerJet Pressure Cleaning Systems

  • Raytheon Technologies Corp.

  • Rolls-Royce Plc

  • Rostec State Corp.

  • Safran SA

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Aircraft Turbofan Engine Market Application Outlook (Revenue, USD mn, 2021-2026)

  • Defense aviation - size and forecast 2021-2026

  • Civil aviation - size and forecast 2021-2026

Aircraft Turbofan Engine Market Geography Outlook (Revenue, USD mn, 2021-2026)

  • North America - size and forecast 2021-2026

  • Europe - size and forecast 2021-2026

  • APAC - size and forecast 2021-2026

  • MEA - size and forecast 2021-2026

  • South America - size and forecast 2021-2026

For additional information on segmentation - Grab an Exclusive Free Sample Report

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Aircraft Turbofan Engine Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.37%

Market growth 2022-2026

USD 629.51 million

Market structure

Fragmented

YoY growth (%)

4.77

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

Europe at 36%

Key consumer countries

US, UK, China, Germany, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

EuroJet Turbo GmbH, General Electric Co., Honeywell International Inc., Ivchenko-Progress SE, Liebherr-International AG, PowerJet Pressure Cleaning Systems, Raytheon Technologies Corp., Rolls-Royce Plc, Rostec State Corp., and Safran SA

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio