Market Size of Asia-Pacific Aircraft Engine Industry
| 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
*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, requiring newer 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 developing new models results in weight reduction, fewer noise footprints, fewer emissions, high thrust, reduced maintenance operations, etc. The development of battery technology boosts hybrid propulsion commercial aircraft engines in areas such as weight reduction, less space requirement, and high power. Factors such as these will fuel the growth of aircraft engines in the Asia-Pacific region.
