Commercial Aircraft Gas Turbine Engine Global Market – Synopsis & Scenario
The commercial aircraft gas turbine engine market is largely reflective of prevailing global macro-economic conditions and also trends within the overall aviation industry. Given that demand for air travel is set to see a surge, particularly from emerging regional markets, suppliers and manufacturers of aircraft engines should see considerable opportunities for growth in recent future.
For gas turbine engines, the primary engineering metrics are overall efficiency, weight, additional drag, and reliability. Overall efficiency here refers to the efficiency with which the engine converts the power in the fuel flow to propulsive power. Gas turbine engines have several characteristics that distinguish them in important ways from other power plants such as internal combustion engines or electric drives. All engines produce waste heat that must be rejected. The penalties associated with such heat rejection increase with airspeed. One distinguishing characteristic of a gas turbine that is especially relevant to high-speed aircraft is that the heat from the fuel lost to inefficiency in gas turbines for the most part travels out as the exhaust and, indeed, produces positive thrust.
Commercial Aircraft Gas Turbine Engine Global Market – Key Players
The consolidation in aviation-related industries, both in manufacturing and in the supply chain, has always been strong. Now, with the demand for broader offerings, it is obvious that bigger and more diversified companies can provide more comprehensive services to customers. By growing in scale and market presence, a vendor can offer more services at more locations globally.
- CFM International
- General Electric
- Pratt & Whitney Division
- Avio Aero
- Engine Alliance
- International Aero Engines
- MTU Aero Engines
- NPO Saturn
- Power Jet
- Williams International
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Commercial Aircraft Gas Turbine Engine Global Market – Report Segment
Global Commercial Aircraft Gas Turbine Engine Market has been segmented in to 2 key dynamics for an enhanced understanding and convenience of the report.
Segmentation by Engine Type: Comprises – Turbojet, Turbofan, and Turboprop
Segmentation by Geography: Comprising – Geographical Regions eg. North America, Europe, Asia-Pacific & RoW
As per the MRFR analysis, the APAC region will continue its dominance in the forecast period valuing in billions of USD with a CAGR of 8%.
EMEA will grow at a CAGR of 5.5% during the forecast period.
Commercial Aircraft Gas Turbine Engine Global Market – Overview
Aircraft Engine refers to the device that converts the energy in fuel into shaft power and the shaft power into propulsive power. In current implementations, engines are highly integrated and take the form of a turbofan engine or a turboprop engine with propeller.
All commercial aircraft designed in the last 4 decades (other than small aircraft) are powered by gas turbine engines, either turbofan or turboprop. Commercial aircraft are mostly powered by turbojets or turbofans. Turbojets are primarily used in small transport aircraft. Turbofans are more efficient than turboprops and are found in many modern commercial aircraft. More time and money is spent on the Aircraft engine than on any other component and it is not surprising that considerable developments in technology have made the modern-day engine vastly different to those engines which were designed around 1940s.
According to a recent study report published by the Market Research Future, the Global Commercial Aircraft Gas Turbine Engine Market is expected to grow at a CAGR of around 6% during 2016-2021.
As per the MRFR analysis the key factors driving the growth are improved fuel efficient gas turbine engines, growth in aircraft fleet and new models, and growth in PMA. However, factors restraining the market growth are custom duties and taxes, carbon emission, and issues related to spare part pricing, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 103 pages.
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