The global aircraft engine market share is expected to continue growing rapidly over the next several years. Industry analysts project the market size will reach $112.61 billion by 2029, representing a strong compound annual growth rate of 10.87% during that forecast period.
The driving factors behind this projected growth include increasing deliveries of commercial aircraft as well as rising adoption of more fuel-efficient and cost-effective engine technologies. As airlines and aircraft manufacturers seek to improve fuel efficiency and reduce operating costs, the demand for advanced aircraft engines is expected to surge.
Additionally, advancements in 3D printing are enabling the development of innovative new engine components. This emerging 3D printing capability is anticipated to create further growth opportunities for the overall aircraft engine market in the coming years.
In summary, the aircraft engine industry is poised for substantial expansion, fueled by growing commercial aviation activity and the push for more efficient, cost-effective engine technologies, including those enabled by 3D printing innovations.
Get More Details:
https://www.fortunebusinessinsights.com/industry-reports/aircraft-engine-market-101766