Global Aero Turbofan Engine Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Aircraft Type;

Narrow Body, Widebody and Others.

By Application;

Commercial Air Transport and Military Aviation.

By Turbofan Engine;

CFM56, PW4000, GEnx, PW1000, CFM LeapX and GP7000.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn052238796 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Aero Turbofan Engine Market (USD Million), 2021 - 2031

In the year 2024, the Global Aero Turbofan Engine Market was valued at USD 25,302.62 million. The size of this market is expected to increase to USD 40,365.41 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.9%.

The global aero turbofan engine market serves as the cornerstone of the aerospace industry, providing the power necessary for propulsion in a wide range of aircraft, from commercial airliners to military jets. Turbofan engines are renowned for their efficiency, reliability, and performance, making them indispensable components of modern aviation. This market segment is characterized by intense competition among key players, driven by continuous innovation, stringent regulatory standards, and evolving customer demands.

Key drivers propelling the growth of the global aero turbofan engine market include the expanding commercial aviation sector, driven by rising passenger demand for air travel and the increasing need for fuel-efficient aircraft. With airlines seeking to optimize operational costs and reduce carbon emissions, there is a growing preference for next-generation turbofan engines that offer improved fuel efficiency and reduced environmental impact. Moreover, the modernization of military fleets worldwide, coupled with geopolitical tensions and security concerns, fuels demand for advanced turbofan engines featuring enhanced performance, durability, and stealth capabilities.

Despite these opportunities, the aero turbofan engine market faces several challenges, including high development costs, stringent regulatory certification requirements, and geopolitical uncertainties affecting international trade and collaboration. Additionally, the emergence of alternative propulsion technologies, such as electric and hybrid-electric propulsion systems, poses a long-term threat to traditional turbofan engines. To remain competitive, market players must invest in research and development to innovate new engine designs, improve fuel efficiency, and incorporate advanced materials and manufacturing processes. Furthermore, strategic partnerships, mergers, and acquisitions are becoming increasingly common as companies seek to expand their market presence and leverage synergies to address evolving customer needs and regulatory requirements.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Aircraft Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Turbofan Engine
    4. Market Snapshot, By Region
  4. Global Aero Turbofan Engine Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Commercial Aviation Expansion
        2. Demand for Fuel-Efficient Aircraft
        3. Military Fleet Modernization
      2. Restraints
        1. High Development Costs
        2. Stringent Regulatory Certification
        3. Geopolitical Uncertainties
      3. Opportunities
        1. Innovation in Engine Designs
        2. Adoption of Advanced Materials
        3. Strategic Partnerships and Collaborations
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Aero Turbofan Engine Market, By Aircraft Type, 2021 - 2031 (USD Million)
      1. Narrow Body
      2. Widebody
      3. Others
    2. Global Aero Turbofan Engine Market, By Application, 2021 - 2031 (USD Million)
      1. Commercial Air Transport
      2. Military Aviation
    3. Global Aero Turbofan Engine Market, By Turbofan Engine, 2021 - 2031 (USD Million)
      1. CFM56
      2. PW4000
      3. GEnx
      4. PW1000
      5. CFM LeapX
      6. GP7000
    4. Global Aero Turbofan Engine Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. General Electric Aviation (GE Aviation)
      2. Rolls-Royce Holdings plc
      3. Pratt & Whitney (United Technologies Corporation)
      4. Safran Aircraft Engines (formerly known as Snecma)
      5. CFM International (joint venture between GE Aviation and Safran Aircraft Engines)
      6. MTU Aero Engines AG
      7. International Aero Engines AG (IAE)
      8. Honeywell Aerospace
      9. Engine Alliance (joint venture between General Electric Aviation and Pratt & Whitney)
      10. Aero Engine Corporation of China (AECC)
  7. Analyst Views
  8. Future Outlook of the Market