Asia Pacific Aircraft Engine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Asia-Pacific Aircraft Engine Market Report is segmented by engine type (turbofan, turboprop, turboshaft, piston), end user (commercial aviation, military aviation, general aviation), and geography (China, India, Japan, Singapore, South Korea, and the rest of Asia-Pacific). The market size and forecasts have been provided in value (USD) for all the above segments.

Asia-Pacific Aircraft Engine Market Size

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Asia-Pacific Aircraft Engine Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 26.93 Billion
Market Size (2029) USD 33.01 Billion
CAGR (2024 - 2029) 4.15 %
Market Concentration High

Major Players

Asia-Pacific Aircraft Engine Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Asia-Pacific Aircraft Engine Market Analysis

The Asia-Pacific Aircraft Engine Market size is estimated at USD 26.93 billion in 2024, and is expected to reach USD 33.01 billion by 2029, growing at a CAGR of 4.15% during the forecast period (2024-2029).

The substantial rise in passenger traffic and the imposition of new emission regulations have led to a significant increase in the demand for new-generation aircraft purchases over the last decade. Aircraft manufacturers are developing new aircraft models in commercial, military, and general aviation sectors, which require newer generation engines with better performance, low weight, better fuel efficiency, and lesser emissions. As a result, the emphasis on newer material technologies like composites is increasing.

Technological innovations are significantly fueling market growth, and the development of new models is resulting in weight reduction, less noise footprints, less emissions, high thrust, reduction in maintenance operations, etc. Hybrid propulsion commercial aircraft engines are boosted by the development of battery technology in areas such as weight reduction, less space requirement, and high power. factors such as these will be fueling the growth of aircraft engines in the Asia-Pacific


Asia-Pacific Aircraft Engine Market Trends

Turbofan Engine is expected to Dominate the Market during the Forecasted Period

The turbofan segment is expected to dominate the aircraft engines market and is anticipated to dominate the market during the forecast period. Turbofan engines are most widely used in commercial and military segments. Major investments have developed the next generation of highly efficient jet engines. In most cases, these engines will be equipped with long-range aircraft that travel long distances without stopping, including intercontinental flights. For instance, in June 2021, General Electric, an aircraft engine manufacturer, and Safran unveiled plans to test-build an open-bladed jet engine that can reduce fuel use and emissions by 20%. The RISE engine, positioned as a successor to the LEAP model used on the Airbus A320neo and Boeing B737 MAX, would feature a design with visible fan blades known as open-rotor and could enter service by the mid-2030s. Air passenger traffic in the Asia-Pacific has witnessed significant improvements and growth in recent times owing to the robust vaccination programs in several countries, which has helped the governments ease air travel regulations, and this will lead to increased opportunities in terms of air travel in the Asia-Pacific region. With growing aircraft orders in the commercial aircraft segment, which is majorly dominated by the turbofan engine segment, the turbofan engine segment is anticipated to register the highest CAGR during the forecasted period.

Asia-Pacific Aircraft Engine Market: Number of air passenger traffic, by country, in million pax, 2022

India is Projected to Exhibit the Highest Growth Rate in the Market

India is one of the fastest-growing aviation markets globally and has significant potential for growth in the future. India is the world’s fourth-largest military spender and Asia’s second-largest military spender as of 2022. India is one of the fastest-growing aviation markets in the world and has a significant potential for growth in the coming years. Also, an increase in the budget allocation for improving airport infrastructure and the establishment of new airports will support the growth of the aviation sector over the next decade. Indigo is the largest airline in the country (in terms of passengers carried and fleet), and as of March 2022, the airline had a domestic market share of 59%. The business jet purchases in the country comprise mostly pre-owned aircraft as the country is an emerging economy with comparatively lower disposable incomes. This factor is currently hindering the growth of the market in the country. India has a total fleet of 253 business jets as of March 2023. Considering the developments, the passenger and defense aviation sector of the country is in a sweet spot. Thus, the demand for aircraft engines is likely to grow during the forecast period.

Asia-Pacific Aircraft Engine Market: Air Passenger Traffic, India, In Millions, (2018-2022)

Asia-Pacific Aircraft Engine Industry Overview

The Asia-Pacific aircraft engine market is highly consolidated, with a majority of the market share being held by Pratt & Whitney (RTX Corporation), Rolls-Royce plc, Safran SA, UEC Aviadvigatel JSC, and General Electric Company. The engine manufacturers and aircraft OEMs often prefer long-term contracts, thereby making it difficult for new players to enter the market. The significant investment toward R&D of advanced technologies, like additive manufacturing and incorporation of AI to increase the production rate, is expected to help the players ramp up their production capacity, thereby maximizing their profits. For instance, in June 2023, India and the US are set to collaborate on the production of fighter jet engines. The deal will be signed between General Electric and Hindustan Aeronautics Limited (HAL) for the transfer of approximately 80% of the jet engine technology by value.

Asia-Pacific Aircraft Engine Market Leaders

  1. Rolls-Royce plc

  2. Safran SA

  3. JSC UEC-Aviadvigatel

  4. Pratt & Whitney (RTX Corporation)

  5. General Electric Company

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Aircraft Engine Market Concentration
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Asia-Pacific Aircraft Engine Market News

  • February 2023: Air India placed a definitive order for 40 GEnx-1B and 20 GE9X engines, as well as a multi-year TrueChoice engine services agreement with GE Company.
  • June 2022: ST Engineering announced that their Commercial Aerospace business signed a five-year agreement with Safran Aircraft Engines, a world-leading aerospace engine manufacturer, for ST Engineering to provide engine maintenance (shop visit) offload for the CFM56-5B and -7B engines. This multi-year agreement was expected to allow ST Engineering and Safran Aircraft Engines to meet the forecasted rise of engine MRO activities as air travel gradually recovered from the pandemic.

Asia-Pacific Aircraft EngineMarket Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Engine Type

      1. 5.1.1 Turbofan

      2. 5.1.2 Turboprop

      3. 5.1.3 Turboshaft

      4. 5.1.4 Piston

    2. 5.2 End User

      1. 5.2.1 Commercial Aviation

      2. 5.2.2 Military Aviation

      3. 5.2.3 General Aviation

    3. 5.3 Country

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. Singapore

        5. South Korea

        6. Rest of Asia-Pacific


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Aero Engine Corporation Of China

      2. 6.2.2 JSC UEC-Aviadvigatel

      3. 6.2.3 Hindustan Aeronautics Limited

      4. 6.2.4 Tata Advanced Systems Limited (Tata Sons Private Limited)

      5. 6.2.5 Safran SA

      6. 6.2.6 Pratt and Whitney (RTX Corporation)

      7. 6.2.7 CFM International

      8. 6.2.8 Ishikawajima Harima Heavy Industries Co. Limited

      9. 6.2.9 Thompson Aero Seating Limited

      10. 6.2.10 MTU Aero Engines AG

      11. 6.2.11 General Electric Company

      12. 6.2.12 Rolls-Royce plc


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Asia-Pacific Aircraft Engine Industry Segmentation

An aircraft engine, often referred to as an aero engine, is the power component of an aircraft propulsion system. Additionally, an aircraft engine also refers to the element of an aircraft that offers thrust to an aircraft during taxing or the course of the flight. The major components of an aircraft engine encompass a fan, compressor, combustor, turbine, mixer, and nozzle, and each component plays a crucial role in the working of the aircraft engine.

The Asia-Pacific aircraft engine market is segmented by engine type, end user, and geography. Based on the engine type, the market is segmented into turboprop, turbofan, turboshaft, and piston. By End-user, the market is segmented into commercial, general, and military aviation. By geography, the market is segmented into China, India, Japan, South Korea, Singapore, and the rest of Asia-Pacific. The market sizing and forecasts have been provided in value (USD) for all the above segments.

Engine Type
End User
Commercial Aviation
Military Aviation
General Aviation
South Korea
Rest of Asia-Pacific
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Asia-Pacific Aircraft EngineMarket Research FAQs

The Asia-Pacific Aircraft Engine Market size is expected to reach USD 26.93 billion in 2024 and grow at a CAGR of 4.15% to reach USD 33.01 billion by 2029.

In 2024, the Asia-Pacific Aircraft Engine Market size is expected to reach USD 26.93 billion.

Rolls-Royce plc, Safran SA, JSC UEC-Aviadvigatel , Pratt & Whitney (RTX Corporation) and General Electric Company are the major companies operating in the Asia-Pacific Aircraft Engine Market.

In 2023, the Asia-Pacific Aircraft Engine Market size was estimated at USD 25.86 billion. The report covers the Asia-Pacific Aircraft Engine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Aircraft Engine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific Aircraft EngineIndustry Report

Statistics for the 2024 Asia-Pacific Aircraft Engine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Aircraft Engine analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Asia Pacific Aircraft Engine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)