▶ 調査レポート

世界の航空機用エンジン市場2022年-2027年:成長・動向・新型コロナの影響・市場予測

• 英文タイトル:Aircraft Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Mordor Intelligenceが調査・発行した産業分析レポートです。世界の航空機用エンジン市場2022年-2027年:成長・動向・新型コロナの影響・市場予測 / Aircraft Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) / MRC2203A675資料のイメージです。• レポートコード:MRC2203A675
• 出版社/出版日:Mordor Intelligence / 2022年1月
• レポート形態:英文、PDF、110ページ
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• 産業分類:航空
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レポート概要
Mordor Intelligence社は、2020年に424.3億ドルであった世界の航空機用エンジン市場規模が、2021年から2026年の間に年平均7.6%以上成長し、2026年までに750億ドルに達すると予測しています。本調査資料では、航空機用エンジンの世界市場について調査・分析し、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、エンジンタイプ別(ターボファン、ターボプロップ、ターボシャフト、ピストン)分析、航空機タイプ別(商用機、軍用機、一般航空機)分析、地域別(北米、ヨーロッパ、アジア太平洋、中南米、中東・アフリカ)分析、競争状況、市場機会・将来の傾向、新型コロナウイルス感染症の影響分析などの項目を掲載しています。
・イントロダクション
・調査手法
・エグゼクティブサマリー
・市場動向
・世界の航空機用エンジン市場規模:エンジンタイプ別(ターボファン、ターボプロップ、ターボシャフト、ピストン)
・世界の航空機用エンジン市場規模:航空機タイプ別(商用機、軍用機、一般航空機)
・世界の航空機用エンジン市場規模:地域別(北米、ヨーロッパ、アジア太平洋、中南米、中東・アフリカ)
・競争状況(General Electric Company、Safran SA、Rolls-Royce Holding PLC、...)
・市場機会・将来の傾向
・新型コロナウイルス感染症の影響分析

The aircraft engines market was valued at USD 42.43 billion in 2020, and it is projected to reach about USD 75 billion by 2026, registering a CAGR of over 7.6% during the forecast period (2021-2026).

The market of aircraft engines has been highly affected by the COVID-19 pandemic due to a downturn in the aviation industry and issues in the supply chains (halt of manufacturing of components and materials), leading to an overall decrease in the total aircraft engine deliveries in 2020. This resulted in engine OEMs witnessing huge losses and implementing new cost-cutting strategies.

The planned fleet modernization and expansion plans of airlines, aircraft operators, armed forces, and charter operators are expected to generate new engines’ demand during the forecast period.

The growth of the market is also driven by the demand for new generation engines with low emissions and lower weight, which will enhance the fuel efficiency of aircraft. Due to this trend, the companies are investing in the research and development of new engine models with the latest technologies like additive manufacturing and use of composite technologies.

However, the growing concerns over the failure of aircraft engines during operation and delays in deliveries are some of the factors hampering the growth of the market.

Key Market Trends

The Commercial Aircraft Segment may Record Higher Growth During the Latter Half of the Forecast Period

The commercial aircraft segment currently dominates the market in terms of revenue share. By the end of 2020, Airbus reported a backlog of 7,184 jets. On the other hand, by the end of 2020, Boeing’s backlog was 4,223 aircraft. These numbers represent the fact that despite the reduction in demand from the airlines, commercial aircraft deliveries will continue at a healthy rate during the forecast period. Technological advancements in newer generation passenger aircraft are making it possible for them to fly longer distances. Players are emphasizing increasing the fuel efficiency of passenger aircraft while increasing their range, as the airlines are looking to procure such aircraft for their fleets. Several airlines have already placed aircraft orders in the last few years to expand their fleet sizes to cater their services to more passengers, with a positive outlook for the regional and global air passenger traffic numbers in the past. As a result, the existing order backlog with the OEMs is still high. The demand for narrow-body aircraft is expected to recover faster than wide-body aircraft as domestic demand is expected to return to pre-COVID-19 levels earlier than the international passenger demand. Also, the return of the 737 MAX into service in late 2020 will help the growth of the narrow-body segment. Such robust plans of the airlines and aircraft operators are expected to propel the growth of the market.

However, the outbreak of the COVID-19 pandemic has put brakes on the growth of the commercial aviation market globally. The passenger traffic is estimated to take 3-4 years to recover fully, and hence, the orders for new commercial aircraft in the next three years are projected to be lesser than the pre-COVID-19 levels. Also, in 2020, major aircraft OEMs have trimmed their production rates as the pandemic decreased the demand for new aircraft. Since engine market growth is dependent on new aircraft orders, the demand for new engines from this segment may be less between 2020-2022.

The Asia-Pacific Region is Expected to Witness the Highest Growth During the Forecast Period

The Asia-Pacific region is expected to witness the highest growth during the forecast period due to the strong demand for domestic air travel in developing economies. The COVID-19 pandemic greatly affected airlines’ revenues in the region due to a sharp decline in passenger traffic. According to IATA, the international passenger traffic reduced by approximately 80% in 2020 compared to the previous year. However, the domestic passenger traffic in countries like China, India, and Japan has been gradually recovering from the second half of 2020. Due to this, the major domestic airlines in the region are expected to receive new aircraft scheduled (from the existing order book) to be delivered during the forecast period. Indigo, the largest domestic airline in India, has a huge aircraft order backlog of more than 600 aircraft, including ATR 72 and A320 family of aircraft. The airline received 44 Airbus A320neo family aircraft, similar to aircraft deliveries in 2019. Such robust aircraft orders as part of fleet modernization plans of the airlines in the region are expected to accelerate the demand for aircraft engines in the coming years. Furthermore, due to geopolitical tensions in the region, countries are increasing their investments to strengthen their aerial capabilities with the procurement of advanced aircraft and replace their aging aircraft. The Indian Air Force is planning to acquire 450 fighter aircraft for deployment on the northern and western frontiers of the country by 2035 as part of its plan to bridge the gap between the existing number of squadrons and required number of squadrons. Such fleet modernization plans will likely generate demand for advanced lightweight fuel-efficient engines in the coming years.

Competitive Landscape

The market of aircraft engines is highly consolidated, with few players dominating the market in the commercial and military aircraft segments. Some of the prominent players in the aircraft engines market are General Electric Company (through GE Aviation), Raytheon Technologies Corporation (through Pratt & Whitney), Rolls-Royce Holding PLC, Safran SA, and MTU Aero Engines AG. The aforementioned players, along with their joint ventures such as CFM International (GE Aviation and Safran), International Aero Engines (Pratt & Whitney, Japanese Aero Engine Corporation, and MTU Aero Engines), and Engine Alliance (General Electric and Pratt & Whitney), provide engines for major commercial and military aircraft programs. Rolls-Royce, Raytheon Technologies Corporation, Honeywell International Inc., and Textron Inc. (through Lycoming Engines) are major players in the general aviation sector. However, the players suffered losses in 2020 due to the slowdown of aircraft deliveries and lack of new aircraft orders. The companies are implementing new strategies to mitigate these losses. In addition to this, the companies are investing in the development of advanced eco-friendly engines with reduced fuel consumption, higher fuel efficiency, and lightweight.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
レポート目次

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size by Value – USD billion)
5.1 Engine Type
5.1.1 Turbofan
5.1.2 Turboprop
5.1.3 Turboshaft
5.1.4 Piston
5.2 Aircraft Type
5.2.1 Commercial Aviation
5.2.1.1 Narrow-body Aircraft
5.2.1.2 Wide-body Aircraft
5.2.1.3 Regional Aircraft
5.2.2 Military Aviation
5.2.2.1 Combat Aircraft
5.2.2.2 Non-combat Aircraft
5.2.3 General Aviation
5.2.3.1 Business Jet
5.2.3.2 Helicopter
5.2.3.3 Turboprop Aircraft
5.2.3.4 Piston Engine Aircraft
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Rest of Latin America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 General Electric Company
6.2.2 Safran SA
6.2.3 Rolls-Royce Holding PLC
6.2.4 Raytheon Technologies Corporation
6.2.5 Honeywell International Inc.
6.2.6 Rostec
6.2.7 MTU Aero Engines AG
6.2.8 IHI Corp.
6.2.9 Textron Inc.
6.2.10 Williams International Co. LLC
6.2.11 Mitsubishi Heavy Industries Aero Engines Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 ASSESSMENT OF THE IMPACT OF COVID-19 ON THE MARKET