Growth Projected To Be 4.68 Percent Compounded Annually

A new report projects the global aircraft engine market to reach $57.28 Billion by 2025, expanding at a Compound Annual Growth Rate (CAGR) of 4.68 percent through the period.

In a new report released by Valulates, the turbofan segment currently holds a significant share in the demand for aircraft engines and may continue to do so over the forecast period. Turbofan engines are most commonly used in the military and commercial sectors. New aircraft programs such as COMAC C919 and Boeing 777X, which are still in service, are powered by the latest generation turbofan engines.

With the development of technology, the global average price of aero-engines is in a decreasing trend, from $3.07 million per unit in 2011 to $2.91 million per unit in 2015. With the situation of global economy, prices will likely continue to fall in the next several years.

The increased need for efficient passenger travel and goods transportation is driving this market's development. Use in the military sector to combat terrorism, drug trafficking, and others is also expected to drive the aircraft engines market.

Top manufacturers in aircraft engine market include:

• General Electric
• Rolls-Royce Holdings
• United Technologies Corporation
• extron, Inc
• Safran SA
• Honeywell International
• CFM International SA
• International Aero Engines AG
• Engine Alliance LLC
• MTU Aero Engines AG

(Source: Valutates news release)

FMI: reports.valuates.com