Jet engines are internal combustion reaction engines used to power aircraft and rockets. These engines work on the jet propulsion principle, which creates thrust by forcing hot exhaust gases out of a narrow nozzle. This creates lift in airplanes and rockets. Several types of jet engines such as turbojets, ramjets, pulsejets, turbofan, and turboprop are available in the market. These jet engines are used to power civil aircraft, cargo aircraft, military aircraft, and rockets.

Jet engines offer substantial advantages over other engine technologies such as rotary piston engines and Wankel engines. Jet engines deliver higher speeds and better performances compared to their counterparts. Furthermore, the technology does not have any direct substitute due to the myriad advantages it offers. However, internal substitution exists in the industry. Each type of engine offers a specific advantages and performs better under definite conditions. Furthermore, rise in air traffic and improvement in standard of living in developing countries such as India, China, and Brazil are anticipated to boost the demand for new aircraft. This is estimated to directly propel the demand for jet engines during the forecast period.   

On the downside, aviation jet engines emit 2% to 2.5% of the total greenhouse gases globally. This number is projected to rise at a rate of 3.5% to 4% year-on-year due to the increase in air traffic and commute. The International Civil Aviation Organization (ICAO) has enacted several air pollution and safety norms that are mandatory for aircraft and jet engine manufacturers. The governing body has implemented the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to lower emissions caused by civil and cargo aircraft.

Based on technology, the jet engines market can be segmented into turbojet engine, turbofan engine, turboprop engine, pulsejet engine, and others. Each type of the engine works on a different technology and has different airflow, combustion, and components for its operation. A jet engine is suitable for different applications. Each engine operates at different rotational and aircraft speeds. Aircraft designed to travel at supersonic speeds usually are mounted with turbofan or turbojet engines. However, turbojet engines have the highest thrust and hence are used for aircraft that travel at mach 4 speed. In terms of application, the jet engines market can be divided into commercial/civilian and military. The commercial and civilian category is a lucrative market primarily due to the sheer volume of the aircraft, while military applications require specific and niche development programs.

In terms of geography, the global jet engines market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are major markets for jet engines, led by the presence of key aircraft manufacturers such as Boeing, Airbus, Lockheed Martin, and Bombardier in these regions. Asia Pacific is also a prominent market for jet engines owing to the rise in air travel and passenger count, which calls for commissioning of new aircraft in the region. In recent years, Asia Pacific has witnessed substantially high new airplane deliveries. Thus, Asia Pacific is projected to be a prominent region of the jet engines market in the near future. It is likely to create significant growth opportunities for jet engine manufactures.

Major players operating in the global jet engines market include Rolls Royce, General Electric Aviation, Safran, and Pratt & Whitney. These four companies have oligopoly in the jet engines market. Thus, the jet engines market is highly consolidated.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Jet Engines Market