Global Jet engine market is anticipated to grow at a CAGR of 6.37% during the forecast period (2024-2031). The global Jet engine industry is experiencing a period of dynamic growth fueled by a confluence of diverse factors. The market is propelled by a complex interplay of military and civil aviation factors. In the civil domain, increasing global prosperity and a corresponding demand for air travel and cargo transport drive the need for larger and more efficient commercial aircraft fleets. This translates to a demand for higher-performance jet engines that prioritize fuel efficiency and reduced emissions to address both economic and environmental sustainability concerns.
Browse the full report description of “Jet Engine Market Size, Share & Trends Analysis Report by Type (Turbofan Engine, Turbojet Engine and Others) and by Application (Military Aviation and Civil Aviation) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/jet-engine-market
In January 2024, in an effort to improve intercontinental connectivity between Asia Pacific and the Americas, DHL Express, an express service provider, has started operating the last Boeing 777 freighter stationed at the South Asia Hub in Singapore. This aircraft joins the other four Boeing 777 freighters already in Singapore.
In October 2023, The Pearl 15, the first engine in the Pearl engine family, powers Bombardier's Global 5500 and 6500 aircraft, while the Pearl 10X will power Dassault's ultra-long-range flagship aircraft, the Falcon 10X. Rolls-Royce has announced the successful completion of a series of tests with 100% Sustainable Aviation Fuel (SAF) on its latest generation of business aviation engines, the Pearl 15 and the Pearl 10X. Tests on the Pearl 700, which powers Gulfstream's G700 and G800 business jets, have already been completed in 2021.
In September 2023, Safran’s Aneto engine offers the optimum propulsion solution for the Leonardo AW149 that will enable the UK New Medium Helicopter (NMH) to operate unconstrained by environmental conditions at maximum payload whilst offering the additional power margin for through-life weight growth.
On the military side, advancements in jet engine technology are critical for maintaining air superiority. Nations invest heavily in research and development for engines with greater power, thrust-to-weight ratios, and lower maintenance requirements, enabling next-generation fighter aircraft and strategic airlifters with enhanced capabilities. These military developments often influence commercial engine technology, creating a beneficial cycle of innovation for the overall jet engine market.
In June 2023, as part of the Light Combat Aircraft Mk2 program of the Indian Air Force, GE Aerospace announced the signing of a Memorandum of Understanding (MOU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force. This is a significant step during Indian Prime Minister Narendra Modi's official state visit to the United States and a critical component in enhancing defense cooperation between the two nations. The agreement includes the potential joint production of GE Aerospace's F414 engines in India, and GE Aerospace continues to work with the U.S. government to obtain the required export authorization for this.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Honeywell International Inc., GE Aerospace (The General Electric Company), Pratt & Whitney (RTX Corporation), Safran SA, Rolls-Royce plc, among others.
Key questions addressed by the report
Global Jet engine Market Report Segment
By Type
By Application
Global Jet engine Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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