Market Size of Commercial Aircraft Engines Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 61.82 Billion |
| Market Size (2029) | USD 113.99 Billion |
| CAGR (2024 - 2029) | 13.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Commercial Aircraft Engines Market Analysis
The Commercial Aircraft Engines Market size is estimated at USD 61.82 billion in 2024, and is expected to reach USD 113.99 billion by 2029, growing at a CAGR of 13.02% during the forecast period (2024-2029).
The rise in global air passenger traffic is leading to a growth in the demand for new commercial aircraft, driving the growth of the commercial aircraft engines market. The development of new medium- and small-sized airports in cities across Asia-Pacific and Middle East and Africa is propelling the demand for new aircraft to serve the new routes, thereby driving related growth of the commercial aircraft engines market.
Technological innovations are significantly fueling the growth of the market studied. The development of new models results in weight reduction, fewer noise footprints, fewer emissions, high thrust, reduction in maintenance operations, etc. However, the market is marred by economic fluctuations as the tenuous R&D cycle of advanced engines renders the players vulnerable to global economic disparities. In the future, hybrid propulsion engines will be developed and adopted until full electrification is achieved through the development of battery technology in areas such as weight reduction, less space requirement, and high power.
