Global aircraft engine market - Statistics & Facts
The aircraft engine manufacturing industry provides the most important component of an aircraft to enable its desired functioning. Since an aircraft engine is highly complex and sophisticated, globally the manufacturing procedure is heavily controlled by the governments. In 2019, the aircraft engine market was sized at almost 80 billion U.S. dollars. As the global interconnectedness increases, this figure is forecasted to exceed over 97 billion U.S. dollars by 2026 due to increasing demand for air travel and cargo.
Narrowbody and widebody are two types of aircraft utilized in the aviation sector. Considering these two aircraft types, the market share division amongst engine manufacturers varies. As of May 2019, CFM International provided 71 percent of the global narrowbody aircraft engine market. Although CFM international is leading the commercial aircraft engine market in terms of overall market share, General Electric Aviation is the primary manufacturer of widebody aircraft engines, holding 51 percent of the widebody engine market worldwide. In the widebody aircraft engine market, General Electric Aviation is followed by Rolls-Royce, with 30 percent of the global market share.
Aircraft engine manufacturers
When it comes to manufacturers of aircraft engines, CFM International is the leading commercial aircraft engine manufacturer, with 39 percent of the engine market worldwide as of December 2019. It is followed by Pratt & Whitney, Rolls-Royce and General Electric Aviation. Together, these four companies make up 99 percent of the global market. As of December 31, 2019, over 4,900 of Airbus aircraft had CFM International-built engines. On the other hand, during that same time, there were 2,854 General Electric Aviation-built engines installed on Boeing aircraft.Narrowbody and widebody are two types of aircraft utilized in the aviation sector. Considering these two aircraft types, the market share division amongst engine manufacturers varies. As of May 2019, CFM International provided 71 percent of the global narrowbody aircraft engine market. Although CFM international is leading the commercial aircraft engine market in terms of overall market share, General Electric Aviation is the primary manufacturer of widebody aircraft engines, holding 51 percent of the widebody engine market worldwide. In the widebody aircraft engine market, General Electric Aviation is followed by Rolls-Royce, with 30 percent of the global market share.
