This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Rising Demand for Zero-emission Aircraft
Increasingly strict emission regulations have prompted manufacturers to adopt the zero-emission concept. The engine manufacturers will play a crucial role in the aviation industry’s transition to the new concept. Sustainable aviation fuel (SAF) is an integral element of the aviation industry’s plan to reduce CO2 emissions, as corporations such as Airbus and Boeing aim for 100% SAF flights.
The pressing issue of mitigating carbon emissions remains a significant concern for the industry, and all parties acknowledge and appreciate the urgency of prompt intervention. The aviation industry is currently facing several noteworthy challenges, including the implementation of environmental levies and regulations, and the growing emphasis on Environment, Social, and Governance (ESG) concerns among investors.
Whilst aviation accounts for roughly 2.5% of worldwide carbon dioxide emissions, the means by which it can effectively mitigate its carbon footprint is less apparent in comparison to other sectors. Offsetting represents a potential strategy for mitigating present carbon emissions, albeit one that necessitates heightened oversight and regulation and is generally regarded as a provisional rather than a lasting remedy.
Aircraft engines traditionally rely on conventional jet fuel, which is derived from fossil fuels. However, the combustion of fossil fuels releases significant amounts of carbon dioxide (CO2) and other greenhouse gases into the atmosphere, contributing to climate change. To address this issue, Sustainable aviation fuel (SAF) has emerged as a sustainable alternative that can help reduce the aviation sector’s carbon footprint.
Integrating SAF into aircraft engines is relevant not only from an environmental perspective but also in terms of regulatory compliance and industry sustainability goals. Airlines and aircraft manufacturers are actively exploring and adopting SAF as part of their efforts to achieve carbon neutrality and reduce their carbon emissions. Governments and regulatory bodies are also supporting the use of SAF through incentives, mandates, and policy frameworks to accelerate its adoption in the aviation sector.
The primary immediate concern pertains to Sustainable aviation fuel (SAF), however, there exist noteworthy obstacles in terms of supply and cost. Certain lessors have investigated intriguing collaborations concerning Sustainable aviation fuel (SAF), however, a collaborative and more synchronised endeavour is imperative throughout the entire aviation industry, as well as from governments worldwide, if SAF is to fulfil the carbon reduction objectives envisioned by the International Air Transport Association (IATA).
Stringent Regulatory Environment for Aircraft Engine Manufacturing to Restrain Industry Growth
The aerospace industry has extremely stringent passenger and aircraft safety regulations. As a result, the aviation industry has created regulatory standards to address these issues and continues to modify them to attain the highest safety standard for the industry’s safety and development. Therefore, aircraft engine manufacturers must also develop new products to meet these requirements.
One of these regulatory requirements is the replacement of bulkier engine components with lighter metal components. Thus, maintenance services provided by key participants in the market for aircraft engines are required to maintain the safety and regulatory standards of the aviation industry.
Several countries have regulatory agencies responsible for ensuring the safety standards of aviation. For example, the safety regulation division of the Irish Aviation Authority (IAA) oversees the regulatory functions related to certifying and registering aircraft engine components and services, licensing individuals and organizations involved in component maintenance, and supervising aircraft engine operating standards. This division also conducts audits & inspections of airports, airport vendors, & inflight service providers.
On a global scale, the International Civil Aviation Organization (ICAO) has established rules that must be universally followed. These regulations are essential for maintaining the safety of aircraft operations and mitigating risks associated with faulty components. All aircraft systems & components must meet the regulatory standards set by the ICAO to ensure adherence to safety requirements. Hence, such factors are anticipated to restrain industry growth over the forecast period.
What Questions Should You Ask before Buying a Market Research Report?
- How is the aircraft engine market evolving?
- What is driving and restraining the aircraft engine market?
- How will each aircraft engine submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
- How will the market shares for each aircraft engine submarket develop from 2023 to 2033?
- What will be the main driver for the overall market from 2023 to 2033?
- Will leading aircraft engine markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
- Who are the leading players and what are their prospects over the forecast period?
- What are the aircraft engine projects for these leading companies?
- How will the industry evolve during the period between 2023 and 2033? What are the implications of
- aircraft engine projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the aircraft engine market?
- Where is the aircraft engine market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the aircraft engine market today, and over the next 10 years:
- Our 304-page report provides 111 tables and 157 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them – NOW.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the aircraft engine market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, our new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, and restraints), Porter’s Five Forces Analysis, PEST Analysis and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
Segments Covered in the Report
- Piston Engine
- Exhaust System
- Fuel System
- Commercial Aviation
- General Aviation
- Military Aviation