aircraft galley Market Expansion 2025-2034: Growth Drivers and Dynamics

What Does the Soaring Demand Translate to in Terms of Market Size and Growth?

The aircraft turbofan engine market size has grown significantly in recent years. The market is projected to soar from $3.15 billion in 2024 to $3.36 billion in 2025, a commendable compound annual growth rate (CAGR) of 6.7%. This robust growth in the historic period can be attributed to various factors such as aircraft fleet expansion, fuel efficiency requirements, environmental regulations, increase in air travel demand, and replacement of aging engines.

In the coming years, the aircraft turbofan engine market is expected to experience strong growth, anticipating to reach $4.41 billion by 2029 at a CAGR of 7.0%. Key growth factors during the forecast period include increased demand for sustainable aviation, investments in research and development, and the rise in global air traffic growth, among others. Major trends anticipated in the forecast period are advancements in engine technology, high-bypass ratio engines dominance, digitalization and engine health monitoring, and electric aviation.

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What are the Key Market Growth Drivers?

The aircraft turbofan engine market growth is driven by rising aircraft orders due to increasing demand for air travel. Airlines are investing in new aircraft to expand their fleets and replace older, less fuel-efficient planes. This investment has led to an increase in orders for commercial airliners, driving demand for aircraft engines. According to data by the Aviation Manufacturers Association, a Belgium-based association of aircraft manufacturers, turboprop aircraft deliveries increased by 10.4% in 2022 as compared to 2021, and that of business aircrafts increased by 7.12%. Therefore, the rise in aircraft orders is expected to boost the growth of the aircraft turbofan engines market.

What Are the Major Segments in the Aircraft Turbofan Engine Market?

The major segments in the aircraft turbofan engine market include:

1) By Engine Type – PW4000, GEnx, Trent 1000, F414, GP7000, Other Engines
2) By Aircraft Type – Narrow Body Aircraft, Wide Body Aircraft
3) By Platform – Fixed Wing, Rotary Wing
4) By Application – Military Aviation, Commercial Air Transport, Other Applications

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Who Are the Major Players in the Aircraft Turbofan Engine Market?

Major companies operating in the aircraft turbofan engine market include Pratt & Whitney Canada Corp., Rolls-Royce Holdings plc, CFM International SA, Safran SA, GE Aviation, Honeywell International Inc., and MTU Aero Engines AG, among others.

What Trends Are Emerging in the Aircraft Turbofan Engine Market?

Innovation is gaining traction in the aircraft turbofan engine market, with companies focusing on developing cutting-edge products to remain competitive. For instance, Raghu Vamsi Machine Tools, an India-based aerospace and defense company, unveiled a fully indigenous micro turbojet engine in October 2024, marking a significant advancement in India’s aerospace capabilities.

Which Region Offers the Most Opportunity for the Aircraft Turbofan Engine Market?

North America held the largest share of the aircraft turbofan engine market in 2024, while Asia-Pacific is anticipated as the fastest-growing region during the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, Middle East, and Africa.

What Does The Aircraft Turbofan Engine Global Market Report 2025 Report Offer?

The aircraft turbofan engine is a jet engine that powers both modern commercial and military aircrafts. Designed to offer high efficiency and low noise compared to earlier jet engine designs, it contributes significantly to the global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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