Aircraft Engine Market Share and Value Analysis 2030

The global Aircraft Engine Market is projected to grow significantly, reaching an estimated value of USD 118.89 billion by 2030, with a compound annual growth rate (CAGR) of 9.8%.
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This growth is fueled by several key factors, including rising demand for air freight, expansion in the military sector, and increasing global air passenger traffic. However, the market faces challenges due to the high development costs associated with aviation engines, which can hinder progress. Despite this, emerging opportunities, such as the adoption of hydrogen-powered aircraft, present promising avenues for future expansion. Leading industry players like Mitsubishi Heavy Industries, Ltd. and Honeywell International Inc. are leveraging strategies such as product launches and partnerships to maintain their competitive edge. Additionally, the growing demand for air cargo is a major driver of market trends, as it necessitates the development of fuel-efficient engines capable of supporting higher payload capacities in aircraft.