Market Size of General Aviation Engines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 0.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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General Aviation Engines Market Analysis
The general aviation engines market is anticipated to increase from USD 5.57 billion in 2022 to USD 5.71 billion in 2028, registering a CAGR of 0.69% during the forecast period.
- The market of general aviation engines was highly affected by the COVID-19 pandemic due to a downturn in the aviation industry, which resulted in reduced deliveries of general aviation engines in 2020 and 2021. However, the large-scale backlog of aircraft original equipment manufacturers (OEMs) in the general aviation sector is expected to drive the market during the forecast period.
- The general aviation market experienced steady growth in 2022 compared to 2021. The reason for this growth was the increase in deliveries of business jets and piston-engine aircraft. The global rotorcraft fleet also experienced a growth of over 8.5% in 2022. The necessity to reduce aviation emissions is fueling the development of fuel-efficient and lightweight engines.
- One such technology is hybrid engines for aircraft that will witness growth during the forecast period. Prominent players such as Safran and Rolls Royce have already unveiled their hybrid engine prototypes and are significantly investing in this technology. Such advancements will support the growth of the market during the forecast period.
