Middle-East And Africa Aircraft Engine Market Size

Middle-East and Africa Aircraft Engine Market Analysis

The Middle-East And Africa Aircraft Engine Market size is estimated at USD 19.28 billion in 2024, and is expected to reach USD 25.46 billion by 2029, growing at a CAGR of 5.72% during the forecast period (2024-2029).

An increase in air passenger traffic leads to increasing demand for new aircraft. Growing procurement of aircraft and rising number of aircraft modernization programs drive the growth of the market. Rising aircraft orders and replacement of old aircraft engine creates demand for new engines. The new engines are lightweight and fuel-efficient with more thrust generation capability compared to old engines and this factor is driving the market growth for the aircraft engine in this region.

Furthermore, increasing defense expenditure by major regional economic powers and the procurement of new fighter aircraft for fleet modernization are propelling the growth of the aircraft engine market in the Middle East and Africa region. Countries are also trying to develop new military aircraft and engines indigenously. In February 2017, Russia and the United Arab Emirates announced the joint development of a fifth-generation twin-engine aircraft that would enter the service from 2025.

Engine manufacturers are targeting the region due to its high potential and are expecting several new orders during the forecast period. Local firms are collaborating with international players to enhance their production capabilities. The aircraft engine market in the region has tremendous growth potential but is also marred by certain challenges, one of them being adherence to stringent regulatory and environmental standards in the aviation industry. Engine manufacturers need to invest in research and development to meet these requirements, which makes them vulnerable to cyclic demand fluctuations and economic crises.