Global Commercial Aircraft Turbofan Engines Market - 2024-2043 - Market Dynamics, Competitive Landscape, Strategies & Key Plans for OEMs, Trends & Growth Opportunities and Market Outlook - GE Aerospace, Pratt & Whitney, Rolls Royce, Safran
The Global Commercial Aviation Turbofan engines market has been in a state of flux post-pandemic with strong passenger traffic & fleet utilization recovery in commercial aviation which has now even surpassed the pre-2019 level, spearheaded by the narrow body segment, leading to surging demand for new engines as well as engine MRO activity while supply chain & capacity constraints along with skilled workforce shortages on the supply side, which are likely to persist at least through early to mid-2026, have rendered it almost impossible for the engine OEMs to be able to meet that level of demand. The situation has become further acute as the in-service, older generation engines, namely, CFM56-3, 5B & 7B and the V2500; are also due for maintenance simultaneously, ranging from initial shop visits for the V2500 to heavy maintenance for the CFM56; and given that the MRO activity volumes for these older generation engines are going to be substantial over near term.
Further, teething troubles & durability issues over latest generation engines, including, both CFM’s LEAP and Pratt & Whitney’s GTF engine family, have hit the carriers hard, especially over GTF's issues with almost 350 GTF engines scheduled to be grounded annually to receive fixes through 2026, as per regulatory mandates, which have compounded the issues being faced by the carriers as rental & spare engines, too, have become scarce. The in-service fleet of CFM’s LEAP engines, too, is receiving retrofit kits, featuring a reverse bleed system, to tackle carbon deposit issues to increase on-wing time while Airbus is exhorting CFM to stick to delivery schedules of the LEAP-1A engines to the A320neo family FALs to avoid further disruption to production. In the wide body segment, Rolls Royce, too, has been grappling with similar durability issues on its Trent 1000 & XWB-97 engine programs and is on track to resolve them by 2026 amid steadily improving fleet utilization levels in the wide body segment.
The surging demand for new aircrafts in the narrow body segment has spurred the need for production rate ramp-ups across OEMs who chalked out plans for ambitious rate increases over leading single aisle programs in 2022 & 2023. However, supply chain constraints, especially at the engine OEMs level, are not in a position to be able to support any kind of rate increases going forward as engine deliveries by them to the OEMs are still below the 2019 levels. Among narrow body aircraft programs, Airbus’ A321XLR is scheduled for certification and EIS in the second-half of 2024 while Boeing’s 737 MAX program is being produced at a level of 38 aircrafts per month, as per FAA’s mandate, to ensure quality improvements for enhanced safety. Airbus is, now, gunning ambitiously for a production rate increase to 75 aircrafts per month for the A320neo family in 2027, after having faltered over the same earlier owing to supply chain issues, while it will take another 2-3 years for Boeing to reach its former peak production level cumulatively while facing a plethora of issues ranging from regulatory, financial with rising debt & interest payouts, operational performance across programs to imminent leadership transition.
Thus, post-pandemic supply chain issues combined with durability issues on current generation engines and older generation engines becoming due for maintenance along with frantic demands from the aircraft OEMs to increase production levels while also being required to invest towards R&D to develop sustainable technology solutions for commercial aviation’s future; have collectively created a sort of Gordian knot for the engine OEMs, which will take at least another couple of years to be resolved. The engine OEMs, along with their industry partners, are currently investing substantially towards MRO capacity & capability addition to meet surging demand levels from the carriers. For instance, GE has just announced an investment of $1 billion through 2029 towards expanding capacity at its existing global MRO sites and setting up new facilities across key regions globally to equip itself for the upcoming, scheduled maintenance requirements of LEAP engines. The long-term market fundamentals, thus, remain bullish with strong long-term aircraft deliveries and fleet growth projections by the industry.
Against this backdrop, the report analyses & provides comprehensive insights into the Global Commercial Aviation Turbofan Engines Market with focus on a blend of quantitative & qualitative analysis. The part 1 of the report takes a look at the current Market Size, Dynamics & Competitive Landscape for Commercial Aircraft Turbofan Engines. Part 2 provides detailed analysis on Engine OEMs, including, Comprehensive Analysis of Key Strategies & Plans, product portfolio & financial analysis and a SWOT analysis on them. Part 3 projects market evolution for Commercial Aircraft Engines over near to medium term with analysis of emerging market scenario, demand growth projections with identification of key growth markets, key market & technology trends, issues & challenges, potential growth opportunities and demand outlook for commercial aviation turbofan engines over the next two decades.
Relevance & Usefulness:
The report contains a comprehensive analysis on the Commercial Aviation Turbofan Engines Market and would be quintessential for those having strategic interest & stakes in the Global Commercial Aviation Market. The report will be extremely useful for Key Decision-Makers, Program Managers, Global Procurement Managers, Top Management of Industry Players & Other Companies, Industry OEMs, Suppliers, Vendors, MRO Services Providers, Technology & Other Services Solutions Providers and other Key Players in the Industry Value Chain. The report will also be useful for existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists, Financing & Leasing Companies, Researchers and all those associated with the industry/sector. The report is comprehensive, yet concise & compact at the same time, and is custom-built for meetings & presentations, in addition, to being a ready self-reckoner as well as a quick reference guide driving, enabling & ensuring prompt and informed decision making.
Further, teething troubles & durability issues over latest generation engines, including, both CFM’s LEAP and Pratt & Whitney’s GTF engine family, have hit the carriers hard, especially over GTF's issues with almost 350 GTF engines scheduled to be grounded annually to receive fixes through 2026, as per regulatory mandates, which have compounded the issues being faced by the carriers as rental & spare engines, too, have become scarce. The in-service fleet of CFM’s LEAP engines, too, is receiving retrofit kits, featuring a reverse bleed system, to tackle carbon deposit issues to increase on-wing time while Airbus is exhorting CFM to stick to delivery schedules of the LEAP-1A engines to the A320neo family FALs to avoid further disruption to production. In the wide body segment, Rolls Royce, too, has been grappling with similar durability issues on its Trent 1000 & XWB-97 engine programs and is on track to resolve them by 2026 amid steadily improving fleet utilization levels in the wide body segment.
The surging demand for new aircrafts in the narrow body segment has spurred the need for production rate ramp-ups across OEMs who chalked out plans for ambitious rate increases over leading single aisle programs in 2022 & 2023. However, supply chain constraints, especially at the engine OEMs level, are not in a position to be able to support any kind of rate increases going forward as engine deliveries by them to the OEMs are still below the 2019 levels. Among narrow body aircraft programs, Airbus’ A321XLR is scheduled for certification and EIS in the second-half of 2024 while Boeing’s 737 MAX program is being produced at a level of 38 aircrafts per month, as per FAA’s mandate, to ensure quality improvements for enhanced safety. Airbus is, now, gunning ambitiously for a production rate increase to 75 aircrafts per month for the A320neo family in 2027, after having faltered over the same earlier owing to supply chain issues, while it will take another 2-3 years for Boeing to reach its former peak production level cumulatively while facing a plethora of issues ranging from regulatory, financial with rising debt & interest payouts, operational performance across programs to imminent leadership transition.
Thus, post-pandemic supply chain issues combined with durability issues on current generation engines and older generation engines becoming due for maintenance along with frantic demands from the aircraft OEMs to increase production levels while also being required to invest towards R&D to develop sustainable technology solutions for commercial aviation’s future; have collectively created a sort of Gordian knot for the engine OEMs, which will take at least another couple of years to be resolved. The engine OEMs, along with their industry partners, are currently investing substantially towards MRO capacity & capability addition to meet surging demand levels from the carriers. For instance, GE has just announced an investment of $1 billion through 2029 towards expanding capacity at its existing global MRO sites and setting up new facilities across key regions globally to equip itself for the upcoming, scheduled maintenance requirements of LEAP engines. The long-term market fundamentals, thus, remain bullish with strong long-term aircraft deliveries and fleet growth projections by the industry.
Against this backdrop, the report analyses & provides comprehensive insights into the Global Commercial Aviation Turbofan Engines Market with focus on a blend of quantitative & qualitative analysis. The part 1 of the report takes a look at the current Market Size, Dynamics & Competitive Landscape for Commercial Aircraft Turbofan Engines. Part 2 provides detailed analysis on Engine OEMs, including, Comprehensive Analysis of Key Strategies & Plans, product portfolio & financial analysis and a SWOT analysis on them. Part 3 projects market evolution for Commercial Aircraft Engines over near to medium term with analysis of emerging market scenario, demand growth projections with identification of key growth markets, key market & technology trends, issues & challenges, potential growth opportunities and demand outlook for commercial aviation turbofan engines over the next two decades.
Relevance & Usefulness:
- Strategic Planning, Assessment & Decision-Making Processes
- Competitor Analysis & Comparative Analysis of covered Industry Players
- Identification of & Insights into Potential Growth Opportunities & Avenues
- Analysis of Near to Medium Term Strategy Focus and Key Strategies & Plans for Engine OEMs
- Analysis of Emerging Industry, Market & Technology Trends
- Medium Term Strategic Outlook, Inputs on Market Evolution & Demand Growth Projections
The report contains a comprehensive analysis on the Commercial Aviation Turbofan Engines Market and would be quintessential for those having strategic interest & stakes in the Global Commercial Aviation Market. The report will be extremely useful for Key Decision-Makers, Program Managers, Global Procurement Managers, Top Management of Industry Players & Other Companies, Industry OEMs, Suppliers, Vendors, MRO Services Providers, Technology & Other Services Solutions Providers and other Key Players in the Industry Value Chain. The report will also be useful for existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists, Financing & Leasing Companies, Researchers and all those associated with the industry/sector. The report is comprehensive, yet concise & compact at the same time, and is custom-built for meetings & presentations, in addition, to being a ready self-reckoner as well as a quick reference guide driving, enabling & ensuring prompt and informed decision making.
SECTION – 1: GLOBAL COMMERCIAL AIRCRAFT TURBOFAN ENGINES MARKET BACKDROP & OVERVIEW
1.1 Introduction & Market Overview
1.2 Global Aviation Gas Turbine Engines Market – Key Segments
1.3 Global Commercial Aircraft Turbofan Engines Market
1.4 Market Size – Commercial Aircraft Turbofan Engines in Units & Value
1.5 Global Commercial Aircraft Turbofan Engines Fleet – Distribution by Engine Manufacturers
1.6 Global Commercial Jet Aircraft Fleet – Share of Engine Manufacturers
1.7 Global Commercial Aircraft Market Key Drivers
SECTION – 2: GLOBAL COMMERCIAL AIRCRAFT TURBOFAN ENGINES MARKET: COMPETITIVE LANDSCAPE
2.1 Global Commercial Aircraft Turbofan Engines Market Competitive Landscape
2.2 Global Commercial Aircraft Turbofan Engines Market – Market Shares for Engine OEMs In Units & Value
2.3 Market Shares for Engine OEMs across Narrow Body Aircraft Segment
2.4 Market Shares for Engine OEMs across Wide Body Aircraft Segment
2.5 Market Shares for Engine Manufacturers Regional Aircraft Segment
2.6 Market Shares for Engine Manufacturers across key Aircraft Programs – In Units
Engine Deliveries Share
Backlog Share
2.7 Market Shares for Engine Manufacturers for Key Geographic Regions
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Part – 2: Analysis on Engine OEMs
Analysis on Top 4 Engine Manufacturers – Commercial Aircraft Turbofans –
GE Aviation
Pratt & Whitney
Rolls Royce
Safran (CFM International)
SECTION3
Business Structure & Snapshot – On Top 4 Engine OEMs
a) Founded
b) Headquartered
c) Business Segments
d) Employees
e) Product Portfolio Major Engine Families, Presence on Aircraft Programs and Key Competitors
f) Market Capitalization
g) Key Executives
h) Shareholding Pattern & Structure
SECTION –
Financial Performance Snapshot –Charts & Analysis for each Company:
1. Revenue Base & Growth Trend
2. Revenues Split by Key Segments
3. Revenues Split by Key Geographic Markets & Regions
4. Gross Earnings & Margin Trend
5. Operating Earnings & Operating Margin Trend
6. Return on Sales Trend
7. Profitability Growth Trend
8. Cash Flow from Operations
9. R&D Expenditure Trend
10. CAPEX Trend
SECTION – 5 STRATEGIC POSITIONING & SWOT ANALYSIS – FOR EACH OF THE TOP 4 ENGINE MANUFACTURERS
-Strengths to be Leveraged
-Weaknesses to Overcome
-Opportunities for Growth
-Threats to be Mitigated
SECTION –
Key Strategies & Plans – For Each of the Top 4 Commercial Aircraft Turbofan Engine Manufacturers
Comprehensive Analysis of Key Strategies & Plans for each Engine Manufacturer
Product & Services Portfolio Strategies & Plans
Market Specific Strategies & Plans
R&D Strategies & Plans
Growth Strategies & Plans
Business & Corporate Strategies & Plans
Sales & Marketing Strategies & Plans
Production/Manufacturing Strategies & Plans
Financial Strategies & Plans
Acquisitions, Strategic Alliances & JVs
Other Strategies & Strategic Initiatives
Part –
SECTION –
Global Commercial Aircraft Turbofan Engines Market Force Field Analysis –
Analysis of Driving & Restraining Forces and their Overall Dynamics
-Driving Forces
-Restraining Forces
SECTION –
Key Trends
-Industry Trends
-Market Trends
-Technology Trends
SECTION –
Key Issues, Challenges & Risk Factors
SECTION –
Strategic Market Outlook – Commercial Aircraft Turbofan Engines Market 2024-2043
10.1 Analysis of Emerging Market Scenario for the Commercial Aviation Market
10.2 Global Demand Outlook – Commercial Aircrafts – 2024-2043
10.3 Demand Growth Projections for Commercial Aircrafts through 2043 across Segments –
10.3.1 Narrowbodies
10.3.2 Widebodies
10.3.3 Regional Jets
10.4 Demand Growth Projections for Aviation Turbofan Engines: 2024-2043
10.4.1 Engines Demand Forecasts In Units
10.4.2 Value of Projected Engines sales over the forecast period In Value Terms
10.5 Commercial Aviaton Turbofan Engine Delivery Projections for Market Segments – In Units and Value – Through 2043
10.5.1 Narrowbody
10.5.2 Widebody
10.5.3 Regional Jets
10.6 Commercial Aviaton Turbofan Engine Delivery Forecasts by Thrust Class In Units and Value – Through 2043
10.6.1 Low Thrust
10.6.2 Medium Thrust
10.6.3 High Thrust
10.7 Commercial Aviaton Turbofan Engine Delivery Forecasts for Key Geographic Regions Through 2043 In Units and Value
North America
Europe
Asia-Pacific
South America
Middle East & Africa
1.1 Introduction & Market Overview
1.2 Global Aviation Gas Turbine Engines Market – Key Segments
1.3 Global Commercial Aircraft Turbofan Engines Market
1.4 Market Size – Commercial Aircraft Turbofan Engines in Units & Value
1.5 Global Commercial Aircraft Turbofan Engines Fleet – Distribution by Engine Manufacturers
1.6 Global Commercial Jet Aircraft Fleet – Share of Engine Manufacturers
1.7 Global Commercial Aircraft Market Key Drivers
SECTION – 2: GLOBAL COMMERCIAL AIRCRAFT TURBOFAN ENGINES MARKET: COMPETITIVE LANDSCAPE
2.1 Global Commercial Aircraft Turbofan Engines Market Competitive Landscape
2.2 Global Commercial Aircraft Turbofan Engines Market – Market Shares for Engine OEMs In Units & Value
2.3 Market Shares for Engine OEMs across Narrow Body Aircraft Segment
2.4 Market Shares for Engine OEMs across Wide Body Aircraft Segment
2.5 Market Shares for Engine Manufacturers Regional Aircraft Segment
2.6 Market Shares for Engine Manufacturers across key Aircraft Programs – In Units
Engine Deliveries Share
Backlog Share
2.7 Market Shares for Engine Manufacturers for Key Geographic Regions
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Part – 2: Analysis on Engine OEMs
Analysis on Top 4 Engine Manufacturers – Commercial Aircraft Turbofans –
GE Aviation
Pratt & Whitney
Rolls Royce
Safran (CFM International)
SECTION3
Business Structure & Snapshot – On Top 4 Engine OEMs
a) Founded
b) Headquartered
c) Business Segments
d) Employees
e) Product Portfolio Major Engine Families, Presence on Aircraft Programs and Key Competitors
f) Market Capitalization
g) Key Executives
h) Shareholding Pattern & Structure
SECTION –
Financial Performance Snapshot –Charts & Analysis for each Company:
1. Revenue Base & Growth Trend
2. Revenues Split by Key Segments
3. Revenues Split by Key Geographic Markets & Regions
4. Gross Earnings & Margin Trend
5. Operating Earnings & Operating Margin Trend
6. Return on Sales Trend
7. Profitability Growth Trend
8. Cash Flow from Operations
9. R&D Expenditure Trend
10. CAPEX Trend
SECTION – 5 STRATEGIC POSITIONING & SWOT ANALYSIS – FOR EACH OF THE TOP 4 ENGINE MANUFACTURERS
-Strengths to be Leveraged
-Weaknesses to Overcome
-Opportunities for Growth
-Threats to be Mitigated
SECTION –
Key Strategies & Plans – For Each of the Top 4 Commercial Aircraft Turbofan Engine Manufacturers
Comprehensive Analysis of Key Strategies & Plans for each Engine Manufacturer
Product & Services Portfolio Strategies & Plans
Market Specific Strategies & Plans
R&D Strategies & Plans
Growth Strategies & Plans
Business & Corporate Strategies & Plans
Sales & Marketing Strategies & Plans
Production/Manufacturing Strategies & Plans
Financial Strategies & Plans
Acquisitions, Strategic Alliances & JVs
Other Strategies & Strategic Initiatives
Part –
SECTION –
Global Commercial Aircraft Turbofan Engines Market Force Field Analysis –
Analysis of Driving & Restraining Forces and their Overall Dynamics
-Driving Forces
-Restraining Forces
SECTION –
Key Trends
-Industry Trends
-Market Trends
-Technology Trends
SECTION –
Key Issues, Challenges & Risk Factors
SECTION –
Strategic Market Outlook – Commercial Aircraft Turbofan Engines Market 2024-2043
10.1 Analysis of Emerging Market Scenario for the Commercial Aviation Market
10.2 Global Demand Outlook – Commercial Aircrafts – 2024-2043
10.3 Demand Growth Projections for Commercial Aircrafts through 2043 across Segments –
10.3.1 Narrowbodies
10.3.2 Widebodies
10.3.3 Regional Jets
10.4 Demand Growth Projections for Aviation Turbofan Engines: 2024-2043
10.4.1 Engines Demand Forecasts In Units
10.4.2 Value of Projected Engines sales over the forecast period In Value Terms
10.5 Commercial Aviaton Turbofan Engine Delivery Projections for Market Segments – In Units and Value – Through 2043
10.5.1 Narrowbody
10.5.2 Widebody
10.5.3 Regional Jets
10.6 Commercial Aviaton Turbofan Engine Delivery Forecasts by Thrust Class In Units and Value – Through 2043
10.6.1 Low Thrust
10.6.2 Medium Thrust
10.6.3 High Thrust
10.7 Commercial Aviaton Turbofan Engine Delivery Forecasts for Key Geographic Regions Through 2043 In Units and Value
North America
Europe
Asia-Pacific
South America
Middle East & Africa
