Aircraft Turbofan Engine Market Trends

Growth Drivers

Rising Aircraft Orders and Demand for Fuel Efficient Engines

The rising environmental awareness is pushing aircraft turbofan engine manufacturers to focus on the efficiency. The focus is mainly on to reduce carbon emissions along with the delivery of high fuel efficiency. Since, the fuel has impact on the overall cost of the aircrafts; increase in efficiency will result in the reduction of maintenance cost. Further, the manufacturers are employing the application of the components in order to come up with different fuel efficient engines to reduce the weight of the engine.

Additionally, increasing passenger traffic along with the profitability for airline operators is driving the growth of the market. This rising traffic results in the shift in aircraft orders all over the globe and for the latest aircrafts the manufacturers are installing next generation turbofan engines with high bypass ratio to reduce fuel consumption along with noise and it further offers active duty service. Hence, these factors are anticipated to drive the growth of the market over the forecast period.

Challenges

Economic Growth Slowdown and Stringent Government Regulations

The tightening of regulatory instructions along with the reductions in carbon emissions is likely to put pressure on the profitability of the aircraft turbofan engine market. Further, surge in the crude oil prices with latest European environment taxes is expected to put more pressure on the profitability. In addition, the economic slowdown along with a lot of uncertainties is impacting the air traffic and aircraft growth. Hence, these factors are predicted to hamper the market growth over the forecast period.