Turbofan Engines Market: Introduction
Turbofan engines are the modern variant of basic gas turbine engines. In turbofan engines, the core of the engine is surrounded by a fan placed in the front of the engine and an additional turbine placed at the rear. The fan turbine and fans are composed of many blades and an additional shaft is connected to them. This type of design is called a two-spool engine. Some of the advanced turbofan engines have more spools for greater efficiency.
Additionally, turbofan engines have various advantages over other engines such as turbojet and turboprop engines. Turbojet engines are comparatively more efficient and the operation is quieter than other engines. Due to these advantages, turbofan engines are used in various aircraft. In the commercial segment, turbofan engines are used in transportation aircraft and business jets. In the military segment, turbofan engines are used in fighter jets and transportation aircraft.
However, turbofan engines also have some disadvantages. They are heavier than turbojet engines and have a larger frontal area. Additionally, turbofan engines are not efficient at very high altitudes.
Turbofan Engines Market: Dynamics
The growing urbanization and increasing global passenger traffic need a faster and more comfortable way to travel. In order to fulfill this need, the airline industry is continuously growing at a significant rate. Additionally, the growing transportation sector also needs a faster way to transport goods. Air transportation is the most efficient method. The growing airline industry is increasing the demand for new technologies and fuel-efficient engines. This factor is expected to drive the turbofan engines market at a significant rate over the forecast period.
Furthermore, in the military sector, the demand for next-generation engines and improved technologies is increasing which is expected to increase the demand for turbofan engines over the forecast period.
However, turbofan engines have high manufacturing costs as compared to other aircraft engine types. Additionally, some disadvantages such as inefficiency at very high altitudes and larger frontal area, are expected to hinder the growth of the turbofan engines market over the forecast period.
Turbofan Engines Market: Regional Outlook
North America is expected to be the most lucrative market for turbofan engines owing to the continuously growing demand for new technologies in airline industries and the increasing demand for efficient engines. The region is expected to register significant growth in the turbofan engines market over the forecast period. The Asia Pacific is anticipated to have significant growth in the turbofan engines market, owing to emerging economies such as China, India, and Japan. The growing population and air traffic are projected to increase the demand for fuel-efficient engines in aircraft. The increasing number of airports and the demand for new aircraft with better and efficient engines for transportation as well as travel are expected to significantly increase the demand for turbofan engines in the region.
Furthermore, Europe is projected to have prominent growth in the turbofan engines market owing to the increasing demand for aircraft in military and commercial sectors. The Middle East and Africa region is expected to show promising growth in the turbofan engines market over the forecast period owing to the increasing air traffic and the growing airline industry in the region.
Turbofan Engines Market: Market Participants
Some of the market participants in the global turbofan engines market are:
- GE Aviation
- Rolls-Royce plc
- United Technologies Corporation - Pratt & Whitney Division
- CFM International
- Engine Alliance LLC
- International Aero Engines
- Williams International
- SE Ivchenko-Progress
- United Engine Corporation
- EUROJET Turbo GmbH
- IHI Corporation
- Safran SA
The research report presents a comprehensive assessment of the turbofan engines market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Turbofan Engines Market Segments
- Turbofan Engines Market Dynamics
- Turbofan Engines Market Size
- Turbofan Engines Supply & Demand
- Turbofan Engines Current Trends/Issues/Challenges
- Turbofan Engines Competition & Companies involved
- Turbofan Engines Technology
- Turbofan Engines Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Turbofan Engines Market: Segmentation
The turbofan engines market can be segmented into type, end use, and region.
On the basis of type, the global turbofan engines market is segmented into:
- Wide Body Aircrafts
- Narrow Body Aircrafts
On the basis of end use, the global turbofan engines market is segmented into:
- Transportation Aircrafts
- Business Jets
- Transport Aircrafts
- Fighter Jets
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.