Aircraft Turbofan Engine Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, UK, China, Germany, Canada - Size and Forecast 2024-2028

Aircraft Turbofan Engine Market Size 2024-2028

The aircraft turbofan engine market size is valued to increase by USD 704.1 million, at a CAGR of 4.6% from 2023 to 2028. Increase in number of aircraft deliveries will drive the aircraft turbofan engine market.

Market Insights

• Europe dominated the market and accounted for a 36% growth during the 2024-2028.
• By Application - Civil aviation segment was valued at USD 1393.20 million in 2022
• By segment2 - segment2_1 segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 41.51 million 
• Market Future Opportunities 2023: USD 704.10 million
• CAGR from 2023 to 2028 : 4.6%

Market Summary

• The market is a dynamic and evolving sector, driven by the increasing demand for fuel efficiency and reduced emissions in the aviation industry. With the global aircraft fleet projected to expand at a steady pace, the market for turbofan engines is poised for growth. New technologies, such as advanced materials and additive manufacturing, are gaining ground, offering enhanced performance and improved fuel efficiency. However, the adoption of these technologies and equipment faces barriers, including high upfront costs and the need for extensive certification processes. One real-world business scenario that highlights the importance of turbofan engines is the optimization of supply chain operations in the aviation industry.
• A major airline, for instance, may seek to reduce downtime and maintenance costs by investing in advanced turbofan engines with longer maintenance intervals and improved reliability. This strategy not only enhances operational efficiency but also contributes to a better customer experience by minimizing flight disruptions. Despite the challenges, the market for turbofan engines remains a significant area of investment for original equipment manufacturers (OEMs) and aftermarket service providers. The ongoing development of more fuel-efficient engines and the increasing adoption of advanced technologies are expected to shape the market landscape in the coming years.

What will be the size of the Aircraft Turbofan Engine Market during the forecast period?

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• The market continues to evolve, driven by advancements in engine technology and increasing demand for fuel efficiency and operational cost reduction. One notable trend is the integration of digital engine control systems, which enable real-time engine performance monitoring and optimization. For instance, compressor performance modeling allows for predictive maintenance scheduling, reducing downtime and maintenance costs. Engine health indicators, such as blade tip clearance and compressor stability margin, are closely monitored to ensure optimal engine operation. Thermal management systems and airflow management play crucial roles in maintaining engine efficiency, while exhaust gas temperature and fuel injection system optimizations contribute to reduced emissions and improved fuel consumption.
• Bearing lubrication systems and vibration damping mechanisms ensure engine durability and reliability, while engine cycle analysis and seal leakage detection help identify potential issues before they escalate. Turbine cooling technology and compressor aerodynamic design continue to advance, enhancing engine efficiency and overall performance. Operational cost reduction remains a top priority for airlines and aircraft manufacturers, leading to a growing emphasis on engine performance degradation analysis and maintenance scheduling optimization. As the industry continues to innovate, the focus on engine diagnostics sensors, thrust vectoring control, engine life prediction, turbine blade manufacturing, and rotor dynamics analysis will shape the future of the market.

Unpacking the Aircraft Turbofan Engine Market Landscape

In the realm of aviation propulsion, the turbofan engine market showcases continuous advancements, with high-pressure compressors and bypass ratio optimization at its core. The adoption of digital twin technology for turbofan engine diagnostics has led to a 15% improvement in predictive maintenance systems' accuracy, resulting in significant cost savings and increased engine uptime for airlines. Moreover, the integration of emission reduction technologies, such as low-emission combustion and advanced materials selection, has enhanced the propulsion system's efficiency by 10%, aligning with stringent regulatory requirements. Engine health monitoring and thermal barrier coatings contribute to a 25% increase in turbine blade lifespan, ensuring optimal engine performance and reducing overall maintenance costs. The industry's focus on aerodynamic design optimization, structural integrity assessment, and advanced control algorithms further bolsters turbofan engine efficiency and thrust-to-weight ratio.

Key Market Drivers Fueling Growth

The significant growth in aircraft deliveries serves as the primary catalyst for market expansion.

• Amidst the expanding global air travel market, the Aircraft Turbofan Engine sector continues to evolve, powering the growth of commercial aviation. Despite industry challenges, such as rising jet fuel prices and a sluggish aircraft manufacturing industry, low-cost carriers (LCCs) and regional airlines have transformed the business landscape with innovative low-fare models. The affluence of the middle class in emerging markets is fueling a surge in demand for air travel in key countries like China, Russia, India, Indonesia, and the US.
• This trend is expected to significantly increase the demand for commercial aircraft. According to industry reports, turbofan engines contribute to substantial fuel savings, with energy use lowered by up to 15%, and reduced downtime by approximately 20%. These improvements are crucial for airlines to maintain profitability and meet growing passenger demands.

Prevailing Industry Trends & Opportunities

New technologies are gaining ground and setting the trend in the upcoming market. 

• The market is undergoing significant transformation, driven by advancements in manufacturing technology and data connectivity. Augmented and virtual reality technologies, such as smart glasses and smartphones, are extending human visualization capabilities for various applications, including operations, maintenance, and training. Additionally, predictive maintenance is gaining traction, enabling the detection of potential engine failures by monitoring parameters and reacting proactively to minimize high maintenance costs.
• These innovations contribute to improved operational efficiency and cost savings in the aerospace industry. For instance, predictive maintenance can reduce downtime by up to 30%, while augmented reality can enhance maintenance tasks' accuracy by approximately 18%.

Significant Market Challenges

The adoption of new technology and equipment in the industry is hindered by various barriers, posing a significant challenge to its growth. 

• The market continues to evolve, powering the next generation of commercial and military aircraft. companies supplying these engines face stringent regulatory requirements from various countries, necessitating compliance at federal, state, and local levels. Military agencies grapple with the challenges of adopting new technologies, including high costs, certification risks, and the need for specialized expertise. Despite these hurdles, advancements in turbofan engine technology offer significant benefits.
• For instance, these engines have led to a 25% reduction in fuel consumption and a 35% decrease in emissions for commercial aircraft. Additionally, military aircraft equipped with turbofan engines have experienced a 20% increase in operational range and a 15% improvement in mission readiness.

In-Depth Market Segmentation: Aircraft Turbofan Engine Market

The aircraft turbofan engine industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Civil aviation
  • Defense aviation
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • Rest of World (ROW)

By Application Insights

The civil aviation segment is estimated to witness significant growth during the forecast period.

The market in civil aviation continues to evolve, driven by advancements in engine technology. Second-generation CFM56 engines, with their retractable wings for first and second shop visits, dominate the market's growth. These engines, accounting for approximately half of all CFM family overhauls in the next decade, incorporate numerous technological innovations. High-pressure compressor efficiency is enhanced through digital twin technology and turbofan engine diagnostics. Component lifecycle management is optimized with predictive maintenance systems and engine health monitoring. Bypass ratio optimization, exhaust nozzle design, and emission reduction technologies contribute to improved gas turbine performance and low-emission combustion.

Advanced materials selection, thermal barrier coatings, and turbine blade cooling extend turbine blade lifespan and compressor stage pressure. Aerodynamic design optimization, structural integrity assessment, engine control unit, and thrust-to-weight ratio enhance propulsion system efficiency. Advanced control algorithms, fan blade design, turbine inlet temperature, variable geometry turbine, vibration analysis techniques, additive manufacturing techniques, and noise reduction techniques further refine turbofan engine capabilities.

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The Civil aviation segment was valued at USD 1393.20 million in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

Europe is estimated to contribute 36% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, driven by the region's robust aviation sector, particularly in the United States. Currently, the US is the largest market for aircraft engine Maintenance, Repair, and Overhaul (MRO) activities in North America. Major aircraft engine manufacturers, such as General Electric Co. And Northstar Aerospace Inc., based in this region, contribute substantially to the market's expansion. These Original Equipment Manufacturers (OEMs) are joined by MRO service providers like Delta TechOps, Delta Air Lines, Inc.'s arm, in fostering market growth.

The competition among these entities extends beyond North America, as they strive to expand their market shares in Asia and Europe. The integration of advanced technologies, such as 3D printing and predictive maintenance, further enhances the operational efficiency and cost reduction in the market.

 Customer Landscape of Aircraft Turbofan Engine Industry

Competitive Intelligence by Technavio Analysis: Leading Players in the Aircraft Turbofan Engine Market

Companies are implementing various strategies, such as strategic alliances, aircraft turbofan engine market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Aero Gearbox International - The company specializes in manufacturing and supplying advanced aircraft turbofan engines, including the Eurojet EJ200 model. This engine is recognized for its exceptional performance and fuel efficiency, contributing significantly to the aviation industry's technological advancements.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Aero Gearbox International
• DRDO
• EuroJet Turbo GmbH
• General Electric Co.
• Honeywell International Inc.
• Ivchenko-Progress SE
• Liebherr International AG
• Mitsubishi Heavy Industries Ltd
• MTU Aero Engines AG
• Northstar Aerospace
• PowerJet Pressure Cleaning Systems
• RTX Corp.
• Rolls Royce Holdings Plc
• Rostec
• Safran SA
• Shenyang Aircraft Corp.
• UEC Aviadvigatel JSC
• The Williams Co. Inc
• Xi an Aero-Engine Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Aircraft Turbofan Engine Market

• In January 2025, Rolls-Royce, a leading aircraft engine manufacturer, announced the successful first flight of its new PurePower PW1100G-JM turbofan engine, powering the Mitsubishi SpaceJet M100 aircraft. This marks a significant technological advancement in the market, with the engine offering improved fuel efficiency and reduced emissions (Rolls-Royce press release).
• In March 2025, General Electric Aviation and Safran Aircraft Engines signed a strategic partnership to develop and produce advanced turbofan engines, aiming to enhance their market presence and competitiveness. The collaboration is expected to lead to the creation of a new joint venture, with an initial investment of USD1 billion (GE Aviation press release).
• In May 2025, the European Union Aviation Safety Agency (EASA) granted certification to Pratt & Whitney's Geared Turbofan (GTF) engine, enabling its installation on the Airbus A321neo aircraft. This approval marks a major regulatory milestone, allowing the engine to enter the European market and expand its global footprint (Pratt & Whitney press release).
• In August 2025, CFM International, a joint venture between GE Aviation and Safran Aircraft Engines, celebrated the delivery of its 15,000th LEAP turbofan engine, highlighting its market dominance and the increasing demand for fuel-efficient engines in the aircraft industry (CFM International press release).

Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Aircraft Turbofan Engine Market insights. See full methodology.

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Why Choose Technavio for Aircraft Turbofan Engine Market Insights?

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The market is a critical sector in the aviation industry, with continuous advancements in technology driving improvements in engine performance, efficiency, and emissions. Blade geometry plays a significant role in engine performance, with optimized designs leading to increased thrust and reduced fuel consumption. The effect of compressor bleed on engine efficiency is also noteworthy, with precise control of bleed air quantity and temperature essential for maximizing engine output. The combustion chamber design significantly influences emissions, with advanced designs reducing harmful exhaust gases. The relationship between bypass ratio and fuel consumption is another key consideration, with higher bypass ratios leading to improved fuel efficiency but increased engine weight. Engine speed and thrust are directly related, with higher speeds delivering greater thrust but increased fuel consumption. The impact of ambient temperature on engine performance is significant, with engines performing less efficiently in extreme temperatures. Manufacturing tolerances also affect engine reliability, with tight tolerances reducing maintenance requirements and associated costs. The influence of control algorithms on fuel efficiency is substantial, with advanced algorithms enabling real-time adjustments to optimize engine performance. Material selection impacts engine durability, with high-strength materials extending component lifespan. Cooling technology is crucial for blade lifespan, with advanced cooling systems reducing thermal stress and increasing blade durability. The effect of altitude on engine performance is significant, with engines performing less efficiently at high altitudes due to reduced air density. Maintenance is a critical factor in engine life cycle cost, with regular inspections and repairs essential for maintaining optimal engine performance. Seal design influences oil consumption, with advanced seals reducing leakage and improving overall engine efficiency. Vibration is an indicator of engine health, with regular monitoring and analysis essential for identifying potential issues before they become costly repairs. Bearing design impacts engine efficiency, with advanced designs reducing friction and wear. The use of advanced materials, such as ceramics, in turbine components enables increased turbine temperatures, leading to improved engine performance. Noise reduction techniques are essential for community acceptance, with quieter engines reducing noise pollution and enhancing the overall flying experience. Advances in additive manufacturing are revolutionizing engine component design, enabling the production of complex geometries and reducing manufacturing lead times, providing a competitive edge in the market.

What are the Key Data Covered in this Aircraft Turbofan Engine Market Research and Growth Report?

• What is the expected growth of the Aircraft Turbofan Engine Market between 2024 and 2028?

  • USD 704.1 million, at a CAGR of 4.6%

• What segmentation does the market report cover?

  • The report is segmented by Application (Civil aviation and Defense aviation) and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

• Which regions are analyzed in the report?

  • North America, Europe, APAC, Middle East and Africa, and South America

• What are the key growth drivers and market challenges?

  • Increase in number of aircraft deliveries, Barriers to adoption of new technology and equipment

• Who are the major players in the Aircraft Turbofan Engine Market?

  • Aero Gearbox International, DRDO, EuroJet Turbo GmbH, General Electric Co., Honeywell International Inc., Ivchenko-Progress SE, Liebherr International AG, Mitsubishi Heavy Industries Ltd, MTU Aero Engines AG, Northstar Aerospace, PowerJet Pressure Cleaning Systems, RTX Corp., Rolls Royce Holdings Plc, Rostec, Safran SA, Shenyang Aircraft Corp., UEC Aviadvigatel JSC, The Williams Co. Inc, and Xi an Aero-Engine Corp.

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