Global Aircraft Engine Market Size, Share, Growth, and Trend Analysis Report, 2032

Summary
Market Landscape
Methodology
Table of Contents

Global Aircraft Engine Market Size, Share & Trends Analysis Report, By Engine Type, By Platform, By Component, By End-User, By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), and Forecasts 2025 - 2032

The Aircraft Engine Market relates to the development, manufacturing, and maintenance of aircraft engines used in commercial, military, and general aviation aircraft. The market is driven by increasing air passenger traffic, advancements in fuel-efficient airline engines, and the expansion of aircraft fleets by major airlines and defense sectors.

The Aircraft Engine Market was valued at approximately USD XX billion in 2024. It is projected to grow to USD XX billion by 2032, with an estimated compound annual growth rate (CAGR) of around 9% from 2025 to 2032.

Industry Trends

The Aircraft Engine Market is evolving with the increasing demand for fuel-efficient and low-emission aeroplanes engines. Aircraft engine manufacturers are investing in hybrid-electric propulsion, sustainable aviation fuel (SAF)-compatible engines, and lightweight materials to enhance performance and reduce environmental impact.

Market growth is driven by rising aircraft deliveries, advancements in aircraft engine types including turbofan and turboprop engines, and the growing adoption of AI-driven predictive maintenance.

Major aviation engine manufacturers are focusing on next-generation propulsion technologies, including hydrogen-powered and electric engines.

Additionally, increased spending on military aviation and UAV propulsion systems is expanding market opportunities. However, there are challenges such as high development costs, stringent emission regulations, and supply chain disruptions. As aircraft engine companies collaborate with airlines and defense organizations to optimize fuel efficiency and operational costs, the market is set to witness sustained growth.

Industry Expert’s Opinion

Guillaume Faury, Airbus Chief Executive Officer

"We are optimistic about the potential of open fan engine designs to enhance efficiency and reduce emissions. However, it's still uncertain whether this technology will be commercially viable "

Chris Schlegel, Maintenance, Jetstar's Melbourne hangar

"We've reduced the time required to change an A320 aircraft engine from 96 hours to just 36 hours, with a target of 12-14 hours in the future."

TT Consultants’ Perspective

The Aircraft Engine Market is experiencing transformative growth, fueled by advancements in propulsion technologies, rising aircraft production, and increasing global air travel demand.

Airlines and defense organizations are shifting towards fuel-efficient and sustainable commercial aircraft engines to meet regulatory and environmental goals. Innovations in electric and hybrid propulsion, AI-driven maintenance, and SAF adoption are redefining the industry landscape.

As major jet engine manufacturers invest in R&D for next-generation engines, the market is poised for long-term expansion. However, aircraft engine suppliers must navigate supply chain disruptions and stringent emissions regulations to remain competitive in an evolving market.

Market Segmentation

1. By Engine Type (Turbofan, Turboprop, Piston Engine, Turboshaft)

The Turbofan segment holds the largest aircraft engine market share of XX% in 2024, driven by the dominance of commercial jetliners and the increasing adoption of high-bypass jet engines for fuel efficiency. Leading airplane turbine manufacturers such as Boeing and Airbus rely on turbofan engines for their long-haul and narrow-body aircraft, boosting demand for advanced propulsion systems.

The Turboprop segment is witnessing steady growth in the aircraft engine industry, particularly in regional and short-haul aviation. Fuel efficiency, cost-effectiveness, and growing demand for commuter aircraft are driving the adoption of turboprop engines.

Meanwhile, Piston Engine demand is concentrated in general aviation and light aircraft, while Turboshaft engines are integral to helicopters and unmanned aerial vehicles (UAVs), supporting their operational capabilities in military and civil applications.

2. By Platform (Commercial, Military, General Aviation, Unmanned Ariel Vehicles (UAV))

The Commercial Aviation segment holds the largest commercial aircraft engine market share of XX% in 2024, driven by rising global air traffic, fleet expansion by airlines, and the increasing need for fuel-efficient airline engines. Aircraft engine manufacturers are prioritizing next-generation turbofan engines to improve operational efficiency and reduce carbon emissions.

The Military Aviation segment is experiencing significant growth in the aircraft engine market, due to increasing defense budgets and the development of advanced fighter jets with high-thrust jet engines. Nations worldwide are investing in new-generation combat aircraft powered by largest aircraft engine manufacturers.

Meanwhile, the General Aviation and UAV segments are growing due to increasing applications in business aviation, air taxis, and military reconnaissance missions, driving demand for innovative propulsion systems from aeroplane engine companies.

3. By Component (Compressor, Combustor, Turbine, Fan, and Others)

The Turbine segment dominates the aircraft engine market, accounting for the largest revenue share of XX% in 2024, due to its critical role in power generation and thrust production. Advancements in turbine blade cooling by engine design companies are improving efficiency and durability.

The Compressor segment is expanding with the growing demand for high-pressure ratio designs that enhance fuel efficiency. The Combustor and Fan components are also evolving, with jet engine manufacturers adopting lightweight composites and additive manufacturing techniques to enhance performance.

Competitive Scenario

The global Aircraft Engine Market is highly competitive, with key players including GE Aviation, Rolls-Royce, Pratt & Whitney, Safran Aircraft Engines, Honeywell Aerospace, and MTU Aero Engines, among others. GE Aviation and Rolls-Royce lead the market with advanced turbofan and military jet engine technologies.

Pratt & Whitney’s Geared Turbofan (GTF) engines are revolutionizing fuel efficiency, while Safran focuses on turboprop advancements. Leading manufacturers are investing in hybrid-electric propulsion, AI-based predictive maintenance, and 3D-printed engine components to maintain their market position. Strategic collaborations with aircraft OEMs and airlines are driving innovation and expanding market reach.

Strategic Activities:

In February 2025, Hyderabad's Azad Engineering to make critical civil aircraft engine parts for Rolls Royce.
In February 2025, Honeywell Aerospace, an international company that manufactures aircraft engines, avionics, and other aviation products has partnered with Execujet Nigeria Free Trade Enterprises, a leading Fixed Based Operator (FBO) and Maintenance, Repair, and Overhaul (MRO) facility in Lagos on avionic and engine installations on aircraft.
In February 2025, At the Aero India trade show in Bengaluru, India, Safran Aircraft Engines, the world's leading French engine manufacturer in the design, development and production of aircraft engines, signed a contract with Hindustan Aeronautics Limited (HAL), India's leading aviation company, for the production of turbine forged parts for LEAP engines.
In June 2024, Safran Helicopter Engines and MTU Aero Engines formed EURA, a 50/50 joint venture named after the European Military Rotorcraft Engine Alliance. This initiative aimed to lead a broader program involving industrial and technological partners from various European nations. The collaboration represented a key milestone in advancing European aerospace capabilities through innovation and industrial synergy.
In May 2024, Pratt & Whitney inaugurated Pratt & Whitney Maroc (PWM), a new manufacturing facility dedicated to producing precision-machined components for aircraft engines such as the PT6. This investment reflected confidence in Morocco's industrial capabilities, strengthening the nation's aeronautical sector with advanced technology and enhancing its global competitiveness in aerospace manufacturing.
In April 2024, Rolls-Royce revealed that IndiGo had ordered 60 Trent XWB-84 engines, marking the airline’s first agreement with the company. The deal also included Rolls-Royce's TotalCare service for engine maintenance and health monitoring. These engines were set to support IndiGo’s expansion, particularly on international routes, enhancing the airline’s operational efficiency.