Market Share of Asia-Pacific Aircraft Engine Industry
The Asia-Pacific aircraft engine market is consolidated, with most of the market share being held by Pratt & Whitney (RTX Corporation), Rolls-Royce plc, Safran, UEC Aviadvigatel JSC, and General Electric Company. The engine manufacturers and aircraft OEMs often prefer long-term contracts, making it difficult for new players to enter the market.
Significant investment in 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 planned to collaborate on producing fighter jet engines. The deal will be signed between General Electric and Hindustan Aeronautics Limited (HAL) to transfer approximately 80% of the jet engine technology by value.
Asia-Pacific Aircraft Engine Market Leaders
Rolls-Royce plc
JSC UEC-Aviadvigatel
Pratt & Whitney (RTX Corporation)
General Electric Company
Safran
*Disclaimer: Major Players sorted in no particular order
