GLOBAL AIRCRAFT ENGINES MARKET was valued at USD 68.20 Billion in the year 2019. Global Aircraft Engines market is further estimated to grow at a CAGR of 5.09% from 2019 to reach USD 91.9 Billion by the year 2025. North America region holds the highest market share in 2019 and Europe market is considered as the fastest growing market in the forecasted period. At a country level, the U.S. is projected to grow at a strongly in the coming years.
Honeywell International Inc. (U.S.), The Boeing Company (U.S.), Hindustan Aeronautics Limited (HAL) (India), General Electric Co. (U.S.), Rolls-Royce plc. (U.K.), Extron Inc. (U.S.), GE Aviation (U.S.), MTU Aero Engines AG (Germany), Safran SA (France), United Technologies Corporation?Pratt & Whitney Division (U.S.), are some of the top players in the Global Aircraft Engines market. Rising research and development expenses to cater changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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Increase in production of aircraft due to development in the tourism sector
Balancing production and demand capacity
Rising demand in private jet
Changing government norms and regulations
The major shares of the market come from turbofan engine segment in Global Aircraft Engines Market. On the other hand, Commercial Aviation, by application for this market is expected to grow at highest CAGR during the year 2019-2025.
Key Benefits for Stakeholders
Aircraft Engines Manufacturers, Distributors and Retailers
Research and Consulting Organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors, and consumers.
Key Market Players
Honeywell International Inc.
Hindustan Aeronautics Limited (HAL)
General Electric Co.
MTU Aero Engines AG
United Technologies Corporation?Pratt & Whitney Division
(A brief overview of 13 companies is also provided.)
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