Aircraft Turbofan Market, By Type (High-pressure Turbine and Low-pressure Turbine), By Application (Civil Aircraft and Military Aircraft), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Aircraft Turbofan Market was valued at US$ 3.1 billion in 2024 and is projected to grow at a CAGR of 7.1% to reach US$ 5.8 billion by 2034.

Aircraft Turbofan is an engine that burns fuel in a jet engine with a huge impeller, using some of the air to create a low-velocity exhaust jet and mixing the remaining air with the combustion products. To power the fan, only a small portion of the air must go through the compressor blades, past the combustor, and through the turbines due to turbofans and air flow separation. A separate nozzle produces most of the thrust at low acceleration by compressing the air primarily due to the action of the fan.

The two main market factors boosting market growth are the large volume of shipments among commercial aircraft and the rise in demand for domestic travel. Many military transport aircraft and fighter aircraft have turbofan engines. For instance, business jets and aircraft transported by commercial aviation frequently utilize turbofan engines. Aircraft engines increasingly use advanced, lighter materials, including super alloys, composites, and ceramics. In recent years, one of the main drivers propelling the aviation turbofan engine industry is the growing need for lightweight, fuel-efficient engines.

Leading companies prioritize ongoing enhancement, capitalizing on technological breakthroughs to provide innovative turbofan engines. Although challenges like obstacles to adopting new technology and equipment may limit market growth, the increase in aircraft deliveries is notably fueling the expansion of the aviation turbofan engine industry.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Aircraft Turbofan Market Key Drivers:

Growth in the number of air travelers   

• Aircraft turbofan engine sales are anticipated to rise in tandem with the growth in passenger volume. The term "air passenger" describes an individual or organization specializing in the interstate commerce of human transportation via aircraft. A rise in the number of individuals preferring to fly is a result of air travel becoming more widely available and reasonably priced. Turbofan engines are among the most often used options for commercial airplanes due to the increased need for more dependable and efficient aircraft engines.
• For instance, in March 2024, according to an article published by the Economic Times, in February, domestic aviation traffic reached 126.48 lakh, up 4.8% annually from 120.69 lakh in the same month the previous year, according to the Directorate General of Civil Aviation (DGCA). According to DGCA, the number of passengers transported by domestic airlines between January and February 2024 was 257.78 lakh, compared to 246.11 lakh in the same period the previous year. This represents an annual growth of 4.74 percent and a monthly growth of 4.80 percent.

Growing market for innovative turbofan engines worldwide   

• The market for aviation turbofan engines is expected to increase significantly as industry advancements, driven by the need for economical and ecologically responsible air transport, continue to grow. Turbofan engines are becoming quieter, cleaner, and more efficient as a result of ongoing developments in materials science, aerodynamics, and engine design.
• For instance, in December 2023, to support ongoing technological development for the upcoming generation of commercial aircraft engines, which aims to significantly improve fuel efficiency and reduce emissions compared to engines of the present, NASA awarded GE Aerospace a contract for Phase 2 of the Hybrid Thermally Efficient Core (HyTEC) program. The work accomplished in HyTEC Phase, 1 for the combustor, high-pressure compressor, and high-pressure turbine advanced aerodynamics, is expanded upon in this new contract.

Aircraft Turbofan Market Restrains:

Costly maintenance expenses for engines, in addition to the stringent rules required to be obeyed

• One of the greatest obstacles to developing these engines in the target market is the high maintenance costs and complex regulatory framework that surrounds them. Although turbofan engine longevity and dependability are increasing, airlines may still incur high maintenance and repair costs for these engines. Additionally, the safety, pollution, and noise levels of aircraft engines are subject to stringent rules set by aviation authorities.

Aircraft Turbofan Market is segmented based on type, application, and region.

Type Insights

• High-pressure Turbine: In this category, the compressor operates under the power of the high-pressure turbine. The engine's efficiency will continue to rise in the years to come owing to the implementation of sophisticated technologies like air cooling, novel materials, and creative ideas.
• Low-pressure Turbine: The low-pressure turbine produces most of the thrust by powering the low-pressure compressor and fan.

Application Insights

• Civil Aircraft: Civil aircraft as an application type is expected to dominate this sector's segment of the target market. The increasing need is attributed to the rise in modern engines to replace outdated ones with higher sophistication. Increased passenger traffic has also led to a surge in the demand for new civil aircraft. In recent years, there has been a remarkable transformation in the civil aviation sector, resulting in lower operating costs and the grounding of less-emissions-efficient airliners, which has boosted the growth of the aircraft turbofan engine market.
• Military Aircraft: Turbofan engines are also used in some military aircraft, especially maritime patrol aircraft. Because they use less fuel and produce fewer noise emissions, turbofan engines are a desirable choice for extended marine patrol operations.

Regional Insights:

Aircraft Turbofan Market Regional Insights

• The North American market is estimated to witness a significantly high revenue share over the forecast period due to notable growth factors in the region, including increased defense spending, the purchase of military aircraft, and the need for additional commercial aircraft.
• Asia Pacific market is estimated to witness the fastest revenue share owing to an increase in air travel and rising defense spending by numerous governments. The Asia Pacific region's growing domestic aviation sector generates demand for new aircraft powered by turbofan engines.
• The European market is expanding steadily and growing further as it develops more sustainable and productive aircraft technologies. This is due to ecological and ethical issues in the region.
• The Latin American market is an emerging region that offers scope for development in the years to come, and it will likely do so as the aerospace sector grows and infrastructure is developed.
• The Middle East and Africa market is in its developmental stages and is observing growth mostly due to factors like the notable increase in air traffic, especially on local and regional routes. These factors boost the market for new aircraft with turbofan engines.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Aircraft Turbofan Market report based on type, application and region:

Aircraft Turbofan Market, By Type:

• High-pressure Turbine
• Low-pressure Turbine

Aircraft Turbofan Market, By Application:

• Civil Aircraft
• Military Aircraft

Aircraft Turbofan Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Aircraft Turbofan Market include CFM International, Pratt & Whitney, General Electric, Inc., IAE, Soloviev, Motor Sich, Rolls-Royce, Honeywell Aerospace, Williams International, and Klimov.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In May 2023, Rolls-Royce PLC, an aerospace and defense firm in the United Kingdom, introduced UltraFan, the largest turbofan engine in the world. With a 140-inch fan diameter, it is the largest aero engine in the world and is intended to provide a 25% fuel-burn improvement over the Trent engines' initial generation. The engine has been successfully operated at maximum power, generating thrust exceeding 85,000 lbs. From delivery, the engine is built to run exclusively on Sustainable Aviation Fuel (SAF).

• CFM International *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Pratt & Whitney
• General Electric, Inc.
• IAE
• Soloviev
• Motor Sich
• Rolls-Royce
• Honeywell Aerospace
• Williams International
• Klimov

"*" marked represents similar segmentation in other categories in the respective section.