Commercial Aircraft Gas Turbine Engine Market Size, Share and COVID-19 Impact Analysis, By Type (Light Commercial Aircraft, Heavy Commercial Aircraft, and Passenger Based Aircraft, Cargo Based Multi Model Aircraft), By Application (Turbojet, Turboshaft, Turbofan, and Turboprop), By Propulsion (Electric Based Commercial Aircraft, and Special Fuel Based Commercial Aircraft), and Regional Forecast, 2024-2032

In recent years, the aviation gas turbine engine for commercial applications has changed due to market involvement and integration, with the goal of having a sustainable development and better technological inheritance for future specifications. Advanced materials and technologies drive the commercial aircraft gas turbine engine market. 

To summarize, aircraft gas turbine engines have a lot of space for improvement, with the ability to enhance overall efficiencies by 30% or more over the best engines in service today, with propulsive efficiency potential being nearly double that of thermodynamic efficiency. This level of performance will necessitate a number of technological advancements, each of which will be in the form of a few percent or less increments rather than a single breakthrough technique.

Research and development activities are being conducted by a number of companies in order to provide highly advanced aviation gas turbines. This is also projected to propel the market for aviation gas turbines.

Innovation and manufacturing services facilitate to store all knowledge and deliver results to operators. Moreover, the increase in unpredictable region behaviour, because of the increase in demand will gradually increase the requirement of service providing facilities

The commercial aircraft gas turbine engine market showcases certain opportunities in forecast period with key drivers such as,

• Increase in number of AI and ML modules


• Requirement for efficient service


• Breakthroughs in terms of technology regarding propulsive efficiency and thermodynamic efficiency.


• This market also face some challenges such as,


• Low emission and combustion happening in chambers


• Manufacturing and simulation capability


• Aerodynamics structural concepts

An increase in the military budgets of several countries across the globe is fuelling the growth of the aviation industry, which, in turn, is poised to enhance the market for aviation gas turbines.

Commercial aircraft gas turbine engine market is also driven by the growth in number of facilities getting international accreditation, which encourages the investors to adopt the latest technologies and equipment, focus on providing higher standards of service and ensure higher levels of operation accuracy.

Impact of COVID-19 on the Commercial Aircraft Gas Turbine Engine Industry

The COVID-19 illness has spread to almost 180 countries around the world, prompting the World Health Organization to declare it a global health emergency. The global consequences of the Covid infection 2020 (COVID-19) are now being seen, and they will have a significant impact on the commercial aircraft gas turbine engine industry in 2020 and 2021. Supply chain was interrupted due to ban on remote trade services and shortage in raw materials affected the consistent R&D with growth of market.

• Shutting down of tech laboratories and research faculties has majorly affected the growth of market.

Various countries have started opening up their borders for foreign traders including tech manufacturers, the recovery is expected to take some time. Based on the published analytical survey.

Key Insights

The report will cover the following key insights:

• Requirement of efficient gas turbine system


• Neutral perspective on the market performance


• Recent industry trends and developments


• Competitive landscape and strategies of key players


• Potential and niche segments and regions exhibiting promising growth covered


• Historical, current, and projected market size, in terms of value.

Market Segmentation

The commercial aircraft gas turbine engine market is categorised into commercial and military. The commercial aircraft segment is anticipated to be the highest growing segment as the passenger travel is necessity based on the globalisation. The demand would rise for replacement of prior engines with technologically advanced and efficient engines in forecasted period. The rise in number of travellers across the globe has increased the demand for commercial aircraft.

Regional Commercial Aircraft Gas Turbine Engine Market Analysis

The Commercial Aircraft Gas Turbine Engine Market is segmented into North America, Europe, Asia Pacific, Middle  East and South America.

During the forecast period, Asia Pacific is expected to dominate the worldwide aircraft gas turbine engine market. During the projection period, the market in the region is expected to grow at a rapid pace. The number of air passengers has risen in Asia Pacific as a result of increased industrialization and urbanisation, as well as rising disposable income in emerging economies.

The market in North America is projected to show significant growth during the forecast period. The growth is attributed to the presence of well flourished aviation industry and highest aircraft fleet. Asia Pacific will witness substantial growth owing to rapid expansion of aviation sector and rising spending on modernization of aging aircraft from China and India.

Key Players Covered

• General Electric Co.


• GKN Aerospace Services Ltd.


• Honeywell International Inc.


• MTU Aero Engines AG


• Raytheon Technologies Corp.


• Rolls-Royce Plc


• Safran SA


• UEC-Aviadvigatel Joint Stock Co.


• UEC-Saturn


• Williams International Co. LLC


• International Aero Engines


• Avio Aero


• Engine Alliance

Segmentation

Key Industry Developments

• Feb 2021 –  North American Wave Corporation was awarded contract worth USD 1 Million by U.S air Force to demonstrate a Versatile Air Launched Platform.


• June 2021 –  Safran SA and GE company announced their collaboration to develop new generation jet engine technology.


• In June 2020 –  The eAircraft business of Siemens AG has been acquired by Rolls-Royce, a manufacturer of aero, marine, and industrial gas turbines for civil and military aircraft. Siemens AG's purchase of electric and hybrid-electric aerospace propulsion marks a major step forward to making greener engines.