Jet Engines Market
Jet Engines Market Forecasts to 2032 - Global Analysis By Engine Type (Turbofan, Turbojet, Turboprop, Turboshaft, Ramjet and Other Engine Types), Component, Platform, Thrust Capacity, Technology and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $182.80 BN |
|
Projected Year Value (2032) |
US $340.66 BN |
|
CAGR (2025-2032) |
9.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Jet Engines Market is accounted for $182.80 billion in 2025 and is expected to reach $340.66 billion by 2032 growing at a CAGR of 9.3% during the forecast period. One kind of response engine that produces thrust is a jet engine, which releases exhaust gases at a high speed. It functions according to Newton's third law, which states that every action has an equal and opposite response. The engine draws air, compresses it, combines it with fuel, and ignites it. The aeroplane is propelled forward by the high-pressure exhaust gases that are released through a nozzle. Because of their tremendous speed and efficiency at altitude, jet engines are frequently found in aeroplanes.
Market Dynamics:
Driver:
Surging global air travel and fleet expansion
Airlines are growing their fleets in both established and emerging economies to handle the increase in passenger demand. In order to meet supply deadlines, manufacturers are forced to increase jet engine output due to this rise. The use of contemporary jet engines with reduced emissions and increased fuel efficiency is growing. The need for engine maintenance, repair, and overhaul services is also fuelled by fleet expansion. Overall, there is a significant and ongoing need for jet engines worldwide due to rising air traffic and fleet modernisation.
Restraint:
High R&D and compliance costs
Advanced jet engine development necessitates a large investment in materials, testing, and innovation. Strict safety, pollution, and noise regulations necessitate ongoing compliance activities, which drives up expenses even more. These costs delay down product launches and restrict the entry of new competitors. As a result of lower profitability and slower technological developments, market growth is constrained.
Opportunity:
Military modernization and defense demand
High-performance jet engines are necessary for the modern fighter planes, unmanned aerial vehicles, and transport aircraft that nations are investing in. Next-generation propulsion system development is being driven by the need for efficiency, speed, and stealth. Manufacturers of jet engines are concentrating on developing technology that improve fuel efficiency and thrust-to-weight ratios. The acquisition of improved air fleets is being driven by border tensions and strategic military partnerships. The market for jet engines is expected to increase strongly and steadily due to the ongoing defence requirement.
Threat:
Geopolitical and trade disruptions
Tariffs and trade restrictions hinder important manufacturers' access to markets and raise production costs. Political unrest in important areas that produce or consume aeroplanes discourages investment and lowers demand for new jet engines. Export restrictions and penalties may hinder global partnerships and joint ventures that are vital to innovation. In the end, these interruptions result in project delays, lower profitability, and limited worldwide expansion.
Covid-19 Impact
The COVID-19 pandemic significantly disrupted the jet engines market due to widespread travel restrictions and reduced air passenger traffic. Airlines postponed or canceled aircraft orders, leading to decreased demand for new jet engines and maintenance services. Supply chain disruptions further delayed production and delivery schedules. Additionally, financial constraints forced several aerospace companies to cut costs, affecting R&D investments. However, gradual recovery began post-2021 as air travel resumed, and market players adapted operations to new safety and efficiency standards.
The combustion chamber segment is expected to be the largest during the forecast period
The combustion chamber segment is expected to account for the largest market share during the forecast period, due to enhanced fuel efficiency and thrust output. It plays a critical role in improving thermal efficiency, enabling better performance and lower emissions. Advancements in combustion technology support the development of lightweight and durable materials that withstand extreme temperatures. Demand for low-emission and high-performance aircraft further drives innovation in this segment. Consequently, the combustion chamber remains a vital component in meeting evolving regulatory and operational standards.
The conventional jet engines segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the conventional jet engines segment is predicted to witness the highest growth rate, due to its widespread use in commercial and military aviation. These engines are well-established, reliable, and benefit from decades of technological advancements. Their compatibility with existing aircraft infrastructure ensures continued demand and ease of maintenance. Increasing global air travel and defense budgets further boost production and replacement needs. Additionally, ongoing enhancements in fuel efficiency and performance keep conventional jet engines relevant in modern aviation.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to rising air passenger traffic, increasing defense budgets, and expanding commercial aviation fleets, particularly in countries like China, India, and Japan. The region benefits from growing airline networks, new airport developments, and a shift toward fuel-efficient and next-gen engine technologies. Government support and domestic manufacturing initiatives are also accelerating local production and technology adoption, making Asia Pacific a major hub for future jet engine demand and innovation.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to the established aerospace giants and sustained defense spending. The market’s growth is steady, supported by demand for advanced military aircraft, upgrades to existing fleets, and investments in sustainable aviation technologies like hybrid-electric propulsion. The presence of major OEMs and R&D facilities ensures continued technological leadership. However, commercial growth is relatively slower compared to Asia Pacific due to market saturation and aging infrastructure challenges.
Key players in the market
Some of the key players profiled in the Jet Engines Market include Pratt & Whitney, GE Aviation, CFM International, Safran Aircraft Engines, Rolls-Royce plc, Honeywell Aerospace, MTU Aero Engines AG, International Aero Engines (IAE), Engine Alliance, United Engine Corporation (Rostec), Aero Engine Corporation of China (AECC), IHI Corporation, Mitsubishi Heavy Industries Aero Engines, Textron Inc., Williams International, Klimov, Motor Sich and Centrax.
Key Developments:
In April 2025, Pratt & Whitney expanded its collaboration with MTU Aero Engines to boost MTU’s annual GTF engine overhaul capacity to 600 shop visits across all engine variants. This strategic move strengthens the global MRO network, ensuring faster turnaround times and enhanced support for the growing GTF fleet worldwide.
In March 2025, GE expanded its additive manufacturing capabilities by investing $51 million in Auburn, Alabama, and $14 million in West Chester, Ohio. The investment supports scaling up production of 3D-printed components, including FAA-certified Catalyst turboprop engine parts, which are now composed of 30% 3D-printed elements.
Engine Types Covered:
• Turbofan
• Turbojet
• Turboprop
• Turboshaft
• Ramjet
• Pulsejet
• Other Engine Types
Components Covered:
• Compressor
• Turbine
• Combustion Chamber
• Nozzle
• Fan
• Gearbox
• Shaft
• Other Components
Platforms Covered:
• Commercial Aviation
• Military Aviation
• General Aviation
• Unmanned Aerial Vehicles (UAVs)
• Other Platforms
Thrust Capacities Covered:
• Less than 10 kN
• 10–20 kN
• 20–50 kN
• 50–100 kN
• More than 100 kN
Technologies Covered:
• Conventional Jet Engines
• Hybrid-Electric Jet Engines
• Electric Jet Engines
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Jet Engines Market, By Engine Type
5.1 Introduction
5.2 Turbofan
5.3 Turbojet
5.4 Turboprop
5.5 Turboshaft
5.6 Ramjet
5.7 Pulsejet
5.8 Other Engine Types
6 Global Jet Engines Market, By Component
6.1 Introduction
6.2 Compressor
6.3 Turbine
6.4 Combustion Chamber
6.5 Nozzle
6.6 Fan
6.7 Gearbox
6.8 Shaft
6.9 Other Components
7 Global Jet Engines Market, By Platform
7.1 Introduction
7.2 Commercial Aviation
7.3 Military Aviation
7.4 General Aviation
7.5 Unmanned Aerial Vehicles (UAVs)
7.6 Other Platforms
8 Global Jet Engines Market, By Thrust Capacity
8.1 Introduction
8.2 Less than 10 kN
8.3 10–20 kN
8.4 20–50 kN
8.5 50–100 kN
8.6 More than 100 kN
9 Global Jet Engines Market, By Technology
9.1 Introduction
9.2 Conventional Jet Engines
9.3 Hybrid-Electric Jet Engines
9.4 Electric Jet Engines
10 Global Jet Engines Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Pratt & Whitney
12.2 GE Aviation
12.3 CFM International
12.4 Safran Aircraft Engines
12.5 Rolls-Royce plc
12.6 Honeywell Aerospace
12.7 MTU Aero Engines AG
12.8 International Aero Engines (IAE)
12.9 Engine Alliance
12.10 United Engine Corporation (Rostec)
12.11 Aero Engine Corporation of China (AECC)
12.12 IHI Corporation
12.13 Mitsubishi Heavy Industries Aero Engines
12.14 Textron Inc.
12.15 Williams International
12.16 Klimov
12.17 Motor Sich
12.18 Centrax
List of Tables
1 Global Jet Engines Market Outlook, By Region (2024-2032) ($MN)
2 Global Jet Engines Market Outlook, By Engine Type (2024-2032) ($MN)
3 Global Jet Engines Market Outlook, By Turbofan (2024-2032) ($MN)
4 Global Jet Engines Market Outlook, By Turbojet (2024-2032) ($MN)
5 Global Jet Engines Market Outlook, By Turboprop (2024-2032) ($MN)
6 Global Jet Engines Market Outlook, By Turboshaft (2024-2032) ($MN)
7 Global Jet Engines Market Outlook, By Ramjet (2024-2032) ($MN)
8 Global Jet Engines Market Outlook, By Pulsejet (2024-2032) ($MN)
9 Global Jet Engines Market Outlook, By Other Engine Types (2024-2032) ($MN)
10 Global Jet Engines Market Outlook, By Component (2024-2032) ($MN)
11 Global Jet Engines Market Outlook, By Compressor (2024-2032) ($MN)
12 Global Jet Engines Market Outlook, By Turbine (2024-2032) ($MN)
13 Global Jet Engines Market Outlook, By Combustion Chamber (2024-2032) ($MN)
14 Global Jet Engines Market Outlook, By Nozzle (2024-2032) ($MN)
15 Global Jet Engines Market Outlook, By Fan (2024-2032) ($MN)
16 Global Jet Engines Market Outlook, By Gearbox (2024-2032) ($MN)
17 Global Jet Engines Market Outlook, By Shaft (2024-2032) ($MN)
18 Global Jet Engines Market Outlook, By Other Components (2024-2032) ($MN)
19 Global Jet Engines Market Outlook, By Platform (2024-2032) ($MN)
20 Global Jet Engines Market Outlook, By Commercial Aviation (2024-2032) ($MN)
21 Global Jet Engines Market Outlook, By Military Aviation (2024-2032) ($MN)
22 Global Jet Engines Market Outlook, By General Aviation (2024-2032) ($MN)
23 Global Jet Engines Market Outlook, By Unmanned Aerial Vehicles (UAVs) (2024-2032) ($MN)
24 Global Jet Engines Market Outlook, By Other Platforms (2024-2032) ($MN)
25 Global Jet Engines Market Outlook, By Thrust Capacity (2024-2032) ($MN)
26 Global Jet Engines Market Outlook, By Less than 10 kN (2024-2032) ($MN)
27 Global Jet Engines Market Outlook, By 10–20 kN (2024-2032) ($MN)
28 Global Jet Engines Market Outlook, By 20–50 kN (2024-2032) ($MN)
29 Global Jet Engines Market Outlook, By 50–100 kN (2024-2032) ($MN)
30 Global Jet Engines Market Outlook, By More than 100 kN (2024-2032) ($MN)
31 Global Jet Engines Market Outlook, By Technology (2024-2032) ($MN)
32 Global Jet Engines Market Outlook, By Conventional Jet Engines (2024-2032) ($MN)
33 Global Jet Engines Market Outlook, By Hybrid-Electric Jet Engines (2024-2032) ($MN)
34 Global Jet Engines Market Outlook, By Electric Jet Engines (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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