Commercial Aircraft Gas Turbine Engine Market Forecast 2024-2033

Overview and Scope
The commercial aircraft gas turbine engine is a type of engine with internal combustion that runs aircraft. The engine absorbs reactive energy from fuel and transforms it into mechanical force by using the working fluid’s gaseous energy (air) to power the engine and propeller, which in turn moves the airplane.

Sizing and Forecast
The commercial aircraft gas turbine engine market size has grown rapidly in recent years. It will grow from $48.97 billion in 2023 to $57.53 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to air travel demand growth, fuel efficiency requirements, globalization and connectivity needs, regulatory emissions standards, airline fleet modernization.

The commercial aircraft gas turbine engine market size is expected to see rapid growth in the next few years. It will grow to $104.49 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to continued air travel expansion, stringent environmental regulations, rising demand for wide-body aircraft, technological innovations in engine design, increasing focus on sustainable aviation. Major trends in the forecast period include application of advanced cooling technologies, focus on noise reduction solutions, integration of artificial intelligence (ai) in engine control, expansion of sustainable aviation fuels (saf), global shift toward more efficient engine architectures.

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Segmentation & Regional Insights
The commercial aircraft gas turbine engine market covered in this report is segmented –

1) By Type: Narrow-Body, Wide-Body, Regional Jet
2) By Propulsion: Electric Based Commercial Aircraft, Special Fuel Based Commercial Aircraft
3) By Technology: Turbofan, Turbojet, Turboprop, Other Technology
4) By Aircraft Type: Light Commercial Aircraft, Heavy Commercial Aircraft, Passenger Based Aircraft, Cargo Based Multi-Model Aircraft
5) By Application: Commercial, Military

Asia-pacific was the fastest growing region in the commercial aircraft gas turbine engine market in 2023. The regions covered in the commercial aircraft gas turbine engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing demand for a new generation of fuel-efficient airplanes is expected to propel the growth of the commercial aircraft gas turbine engine market in the coming future. Fuel-efficient airplanes refer to airplane engines or airplanes that consume less fuel than comparable engines or airplanes. The increasing demand for a new generation of fuel-efficient airplanes drives the commercial aircraft gas turbine engine market as greater fuel efficiency, ultimately contributing to lower prices and emissions resulting in environmental damage. For instance, in April 2021, according to ThinkPaper published by Eurocontrol, a Belgium-based government agency, predicted that by 2030, up to 4,286kg of CO2 emissions (25.8%) might be avoided in every flight compared to 2019, out of a total flight CO2 of 16,632 kilograms in the ECAC the region, an enormous advancement towards a perfect green getaway. Furthermore, 10% SAF use by 2030 would result in a CO2 savings of 1,331 kg or 8%. Therefore, increasing demand for a new generation of fuel-efficient airplanes drives the market.

Key Industry Players

Major companies operating in the commercial aircraft gas turbine engine market report are GE Aviation LLC, GKN Aerospace Services Ltd., Honeywell International Inc., MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce Holdings PLC, International Aero Engines AG, Engine Alliance LLC, CFM International Inc., Powerjet Plastic Machinery CO. LTD., Pratt and Whitney Co., Safran S.A., Williams International Co. LLC, EuroJet Turbo GmbH, Textron Inc., Ishikawajima-Harima Heavy Industries Co.Ltd., Siemens Energy Inc., Mitsubishi Heavy Industries Ltd., Ansaldo Energia SpA, MAPNA Group, Caterpillar Inc., UEC NPO Saturn, Rotax Aircraft Engines, Solar Turbines Incorporated, Destinus Energy, MAN Energy Solutions SE, PBS Group, Teledyne Continental Motors, Spirit AeroSystems, Magellan Aerospace

The commercial aircraft gas turbine engine market report table of contents includes:

1. Executive Summary
2. Commercial Aircraft Gas Turbine Engine Market Characteristics
3. Commercial Aircraft Gas Turbine Engine Market Trends And Strategies
4. Commercial Aircraft Gas Turbine Engine Market – Macro Economic Scenario
5. Global Commercial Aircraft Gas Turbine Engine Market Size and Growth
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31. Global Commercial Aircraft Gas Turbine Engine Market Competitive Benchmarking
32. Global Commercial Aircraft Gas Turbine Engine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Commercial Aircraft Gas Turbine Engine Market
34. Commercial Aircraft Gas Turbine Engine Market Future Outlook and Potential Analysis
35. Appendix

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