Latest News- Commercial Aircraft Gas Turbine Engine Market: Turbofan is expected to lead the Technology segment during 2024-2028

The Commercial Aircraft Gas Turbine Engine Market is being driven by Advancements in engine technologies

The Commercial Aircraft Gas Turbine Engine Market is expected to grow at a CAGR of 26.05% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 96102.3 million. In the commercial aircraft gas turbine engine market, the adoption of ceramic-matrix composites (CMCs) is gaining significant traction. These advanced materials, consisting of a ceramic-based oxide or non-oxide matrix reinforced with treated carbon fibers or whiskers, offer substantial weight reduction, approximately 66% lighter than nickel superalloys, and enhanced operational capabilities. CMCs can operate at temperatures surpassing 500 degrees Fahrenheit, exceeding the endurance threshold of nickel superalloys. This temperature advantage enables engines to deliver higher service temperatures and greater efficiency through either reduced cooling air requirements or lower fuel consumption due to increased engine temperatures. Consequently, CMCs contribute to improved engine performance by increasing the thrust generated per unit of fuel, thereby enhancing overall engine efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Turbofan
  • Turboprop
• Type
  • Narrow-body aircraft
  • Widebody aircraft
  • Regional aircraft
• Geography
  • Europe
    • Germany
    • UK
    • France
  • North America
    • US
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advancements in engine technologies
• Rise in procurement rate of new-generation aircraft
• Increase in aircraft deliveries

However, the market also witnesses some limitations, which are as follows:

• Grounding of fleets due to technical issues
• High production costs and delays in engine deliveries
• Fluctuations in customs and import duties

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Market Scope in Commercial Aircraft Gas Turbine Engine Market Research Report

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Research Analysis Overview

The Commercial Aircraft Gas Turbine Engine Market involves the production and sale of gas turbine engines for modern commercial aircraft, including Turbofans, Turbojets, and Turboprops. These engines convert fuel energy into mechanical energy, powering aircraft for travel. Superchargers and accessories are essential components. Pre-pandemic levels of craft leasing activities and investment in new aircraft orders have been disrupted by travel restrictions and passenger demand disruptions, leading to financial losses and engine replacement projects. Maintenance and operation of these engines continue, with funding facilities and GTF engine technology playing key roles. Cargo and freight sectors remain active.

Market Research Overview

The commercial aircraft gas turbine engine market is a significant segment of the global aerospace and defense industry. This market involves the production and sale of mechanical energy-generating engines for commercial aircraft, encompassing superchargers and various accessories. The operational engines power modern aviation craft, contributing to the overall cost and fuel efficiency of commercial aircraft leasing activities. Engine manufacturers play a pivotal role in this market, providing high-performance engines that meet the demands of the commercial aviation sector. The global capital goods market, which includes industries such as aerospace and defense, machinery, and trading companies, generates substantial revenue from the production and sale of these engines.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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