The turbofan engine is a typical propulsion system for aircraft. In other words, it’s also referred to as the updated form of standard gas turbine engines. Different shafts and blades are connected together to form fans and fan turbines. It also goes by the name “two-spool engine” due to the way it is constructed. More spools are employed in many contemporary turbofan engines to increase flexibility and efficiency. Additionally, it is a sort of air-powered jet engine.
Because turbofan engines have several advantages that turboprop and turbojet engines do not, they are frequently utilized in various types of aircraft. The two types of turbofan engines are high bypass engines and low bypass engines. Low bypass engines are typically employed in military applications while high bypass engines are the norm for commercial jet engines. A combustor, high and low pressure compressor stages, numerous stages of turbines, as well as other components make up the core of a turbofan engine. Here, the bypass ratio is employed to assess the engine’s performance.
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Turbofan engines are used in a lot of military transport planes and fighter jets. For example, turbofan engines are used a lot in business jets and transport planes in the commercial sector. Upgraded, lighter materials like super alloys, composites, and ceramics are being used more and more in aircraft engines. And these lightweight materials can be used to make engines that are safer, work better at high temperatures, cost less to maintain, and weigh less. Also, it has an effect on the total weight of the plane. All of these things play a big role in the performance of the engine and help save money. According to the Aircraft Turbofan Engine Market Forecast report, there are many types of people who are interested in the global market. These include equipment or system suppliers, original equipment manufacturers (OEMs), end users, government institutions, technology investors, key executives, potential investors, and consulting firms.
Market Dynamics:
Drivers:
The Aircraft Turbofan Engine Market is growing and changing because of the improvements in turbofan engine technology, the rise in fuel-efficient planes, and the demand for lighter planes. Also, the growth of the global market is being helped by the fact that the number of commercial aircraft operations is going up.
In 2018, the UK government proposed a $392,7 million fund for research and development of electric planes and technology. This has led to more growth in the global market. Also, the Aircraft Turbofan Engine Industry Outlook is expected to have a higher rate of market growth during the time of the research.
Restraints:
The backlogs of Boeing and Airbus SAS for fuel-efficient aircraft could slow the growth of the global aircraft turbofan engine market.
Also, strict government rules and slowing economic growth can be big problems for the global market for aircraft turbofan engines.
Opportunities:
Aircraft Turbofan Engines are being used more and more in the military and in business, which could open up more opportunities for the global Aircraft Turbofan Engine Market. Also, as turbofan engine technology improves, it opens up good business opportunities for manufacturers and key players in the global market.
So, the opportunities are growing, and the key players are working hard to boost the growth of the Aircraft Turbofan Engine Market in the coming years by using new strategies and marketing ideas.
Segmentation Analysis:
By Turbofan Engine Analysis:
Based on a turbofan engine, the Aircraft Turbofan Engine Market Analysis report divides the global market into PW1000, F414, V2500, PW4000, CFM56, CFM LeapX, GP7000, GEnx, Trent 1000, and F135.
Among all of them, the CFM56 engine segment is expected to bring in the most money and grow at the fastest rate during the research period.
By Aircraft Type Analysis:
Based on the type of aircraft, the global Aircraft Turbofan Engine Market has been split into wide-body, narrow-body, and other segments.
Here, it was expected that the narrow-body aircraft segment would have the biggest share of the aircraft turbofan engine market in 2018 at 39.65%, and it is expected to grow at an annual rate of 8.69% during the research period.
By Application:
The global Aircraft Turbofan Engine Market is split into the military aviation segment and the commercial air transport segment.
The commercial air transport segment is expected to have the biggest share of the aircraft turbofan engine market in 2018. This market is growing because the number of commercial fleets around the world is growing.
Recent Development:
In March 2020, Air India Engineering Services Ltd (AIESL) and Pratt & Whitney have teamed up to maintain 4,056 engine models. AIESL is assigned to maintain the company’s geared turbofan engines in India.
Market Segmentation
By Turbofan Engine:
PW1000
F414
V2500
PW4000
CFM56
CFM LeapX
GP7000
GEnx
Trent 1000
F135
Others
By Application:
Military Aviation
Commercial Air Transport
Others
By Aircraft Type:
Wide Body
Narrow Body
Others
By Companies:
Pratt & Whitney (US)
GE Aviation (US)
Rolls Royce (UK)
CFM International (US)
Honeywell International (UK)
EuroJet (US)
Aviadvigatel (Russia)
Safran Aircraft Engines (France)
International Aero Engines AG (US)
MTU Aero Engines (Germany)
Engine Alliance (US)
Others
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic and non-economic factors;
- Provision of market value (USD Billion) data for each segment and sub-segment;
- Indicates the region and segment that is expected to witness the fastest growth and dominate the market;
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the market’s dominance by region;
- Analysis by product/service type
- A competitive landscape that includes the market ranking of the top competitors, as well as new service/product launches, collaborations, business expansions, and acquisitions of companies featured during the previous five years
- Extensive company profiles with business overview, company insights, product benchmarking, and SWOT analysis for the leading market players
- The current and future market outlook of the industry in light of recent developments (which include growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions)
- Includes an in-depth analysis of the market from multiple perspectives using Porter’s five forces analysis Provides market insight across the Value Chain
- Market dynamics situation, as well as development potential for the market in the coming years
- 6-month post-sale analyst assistance
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