Global Commercial Aircraft Gas Turbine Engine Market by Engine Type (Turbojet, Turbofan, and Turboprop), and by Geography – Forecast To 2021
Market Synopsis of Global Commercial Aircraft Gas Turbine Engine Market
The Global Commercial Aircraft Gas Turbine Engine Market is expected to grow at a CAGR of around 6% during 2016-2021. The key factors driving the growth are improved fuel efficient gas turbine engines, growth in aircraft fleet and new models, and growth in PMA.
As per the MRFR analysis, factors restraining the market growth are custom duties and taxes, carbon emission, and issues related to spare part pricing.
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Some of the key players in the Global Commercial Aircraft Gas Turbine Engine Market are CFM International, General Electric, Pratt & Whitney Division, Rolls-Royce, Avio Aero, Engine Alliance, International Aero Engines, MTU Aero Engines, NPO Saturn, Power Jet, Snecma, and Williams International
Commercial Aircraft Gas Turbine Engine Market –Segmentation
The global commercial aircraft gas turbine engine market is segmented in to 2 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Engine Type : Turbojet, Turbofan, and Turboprop.
Segmentation by Fit : Line Fit and Retro Fit
Segmentation by Regions : Comprises Geographical regions – North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Commercial Aircraft Gas Turbine Engine Market: Regional Analysis
The high cost of material is the major factor curbing the growth of commercial aircraft gas turbine market. The industrial aircraft turbine engine market is extremely competitive thanks to the presence of an oversized range of vendors. Factors like the engine’s price, reliableness, and quality area unit a number of the key factors the vendors sometimes view on. To enhance their market positions, the vendors area unit more and more specializing in giving cost-effective and superior quality engines with new generation technologies.
Though the key regions of commercial gas turbine engine market are North America, Europe, APAC, Latin America, and MEA. APAC is the fastest growing region in aircraft market, the growth is due the increase in manufacturing of commercial aircraft in countries like China and Japan.
Deregulation has altered the structure of the broader aviation business, this can be not the case within the industrial craft turbine engine market. The business remains heavily focused on 3 main firms – GE Aviation, Pratt & Whitney and Rolls Royce, including many venture partnerships that manage specific engine programmes. High barriers to entry, the importance placed on establishing a reputation for quality, and appreciable sums earned from after sales services mean that this market structure for new jet engines is unlikely to vary.
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