Market Size of Europe Aircraft Engines Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 20.73 Billion |
| Market Size (2029) | USD 25.01 Billion |
| CAGR (2024 - 2029) | 3.82 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aircraft Engines Market Analysis
The Europe Aircraft Engines Market size is estimated at USD 20.73 billion in 2024, and is expected to reach USD 25.01 billion by 2029, growing at a CAGR of 3.82% during the forecast period (2024-2029).
The demand for aircraft engines is driven primarily by an increase in the order book of aircraft (business jet, commercial, or military aircraft) or as a replacement for the engines for the existing aircraft fleet. Aircraft OEMs and engine manufacturers are engaging in extensive integration efforts to enhance performance and extend the range of aircraft. The investments towards the R&D of such technologies are anticipated to bolster the market prospects during the forecast period.
The manufacturing cycle of aircraft engine OEMs is expected to undergo rapid transformation due to the increasing use of 3D printing and ceramic matrix composites to construct critical components of an aircraft engine. Aircraft operators are engrossed in employing operational engines with increased fuel efficiency and reduced overall operational costs. This has made aircraft OEMs and engine manufacturers engage in extensive integration efforts to enhance performance and extend the range of aircraft. New engines are technological marvels composed of advanced materials with increased durability to ensure performance without compromising their service life. Furthermore, emerging technologies such as a hybrid-electric jet engine are anticipated to enhance the current business opportunities for the market players.
