The global aircraft engines market revenue is expected to expand at a significant CAGR over the forecast period. Aircraft engines use a propulsion system to generate mechanical power for the functioning of aircrafts. Aircraft engines can be divided into two types- shaft engines and reaction engines. Piston engines and turbine engines come under the category of shaft engine, whereas pulse jets, jets, rockets are few types of reaction engines.
The global aircraft engines market report has been segmented on the basis of engine type, wing type, end-user, and region. On the basis of product type, the market is segmented into piston, turbofan, turboprop, and turboshaft. Turbofan segment is expected to register a fastest growth in terms of revenue in the near future. Increasing adoption of turbofan engines due to its fuel efficiency is a key factor propelling the demand of the turbofan engine.
On the basis of wing type, the market is segmented into rotary and fixed. On the basis of end-user, the market is segmented into military aviation and civil aviation. The civil aviation segment is further sub-segmented into commercial aviation and general aviation. The civil aviation segment is expected to witness a significant growth, owing to increasing demand for civil commercial aircrafts and rising number of air travel passengers.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America is expected to dominate the global market in terms of revenue over the forecast period, due to rising air traffic and increasing demand for aircrafts in the region. The Asia Pacific market is expected to witness significant growth in terms of revenue in the near future, owing to the increasing adoption of new aircraft engines for advanced aircrafts. The increasing number of manufacturing companies in emerging economies, is another factor fueling the growth of the global aircraft engine market over the forecast period.
Key players operating in the global aircraft engines market include Alma Lasers Ltd., Cutera Inc., Cynosure Inc., Fotona d.d., Lumenis Ltd., Lutronic Corporation, Lynton Lasers Ltd., Sciton Inc., Solta Medical Inc., and Syneron Medical Ltd.