Aircraft Engines Market in America Size to grow by USD 7573.11 million between 2023-2027

Technavio, a leading provider of market research reports, has released its latest study on Aircraft Engines Market in America. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The aircraft engines market in the Americas is a significant segment of the global aerospace and defense market, which falls under the broader category of capital goods. This market comprises companies involved in the manufacturing and provision of engines for commercial and general aviation applications, as well as defense platforms in naval, land, and air domains. The global capital goods market, according to Technavio, is determined by the total revenue generated by industry players in sectors such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. The aerospace and defense market encompasses not only the production of aerial and defense platforms but also the crucial maintenance, overhaul, and repair (MRO) activities related to both commercial and defense sectors. - The Aircraft Engines Market in America is experiencing significant growth, fueled by the Growing urbanization and increasing global passenger traffic. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing urbanization and increasing global passenger traffic
  • High spending on aircraft
  • Lack of skilled labor
  • High cost associated with engine manufacturing
• Growth Projections

The market size is estimated to grow by USD 7573.11 million, at a CAGR of 5.63% during the forecast period. In the American aircraft engines market, technological innovations in turbofan engines, driven by the demand for light aircraft with superior fuel efficiency, are projected to fuel market expansion. The adoption of lightweight materials in engine and aircraft construction offers significant benefits, including enhanced safety, reduced maintenance costs, and improved performance at elevated temperatures. Major Original Equipment Manufacturers (OEMs) and aircraft manufacturers globally are prioritizing the development of fuel-efficient aircraft to mitigate the impact of escalating fuel prices. By reducing the overall weight of the aircraft through the implementation of lightweight engines, manufacturers can significantly enhance fuel efficiency and competitiveness in the industry.

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• Regional Insights

The aircraft engines market in America has experienced significant growth, driven primarily by increased spending in both the commercial aviation and defense sectors. Commercial growth factors include global economic expansion, rising demand for air travel, and lower oil prices, leading to increased purchases of fuel-efficient aircraft. Conversely, defense spending is influenced by political environments and government budgets, resulting in demand for advanced, high-performance engines for military aircraft. However, fluctuating oil prices and air travel trends could potentially impact future aircraft orders, affecting engine backlogs and canceled orders.

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