Global
Wide-body
Aircraft Engine Market is expected to grow at a significant CAGR in the
upcoming years as the scope and its applications are rising enormously across
the globe. A wide-body aircraft is termed as a jet airliner that has a fuselage
wide enough to accommodate two walkways in the cabin. It is also termed as
twin-aisle aircraft having seven or more seats abreast. These aircrafts
consists of two or four engines that have undergone a great transformation over
the years with the development of turbofan engines and advanced technology that
support fuel economy. Numerous manufacturers are investing in wide-body
aircraft to increase the passenger traffic.
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The
factors that are playing a major role in the growth of Wide-body Aircraft
Engine Market are modernization in aircraft and engine leasing opportunities,
rising passenger traffic, great investment by manufacturers, and development in
existing gas turbine technologies. On the other hand, high cost of production
is estimated to affect the overall market growth of the industry. Wide-body
Aircraft Engine Market is segmented based on product types, applications, and
region. Product types such as Turbo Fan Engine, and Turbojet Engine, and others
classify Wide-body Aircraft Engine Industry. Applications into Large Wide-Body
Aircraft, Small and Medium Wide Body Aircraft, and others classify the market.
Small
and Medium Wide Body Aircraft segment accounts for the largest market share of
Wide-body Aircraft Engine Market and is estimated to lead the overall market in
the years to come. The reason being, to accommodate numerous passengers in
domestic and international flights to decrease their operational costs and to
cater to the growing passenger traffic. In addition, these aircrafts acquire
advanced wide-body engines and better return on investment.
Wide-body
Aircraft Engine Market is segmented geographically into Americas (North America,
Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin
America, Middle East and Africa. Globally, Europe accounts for the largest
market share of Wide-body Aircraft Engine Industry and is estimated to lead the
overall market in the upcoming years. The reason being, rising investment by
airline industries in new aircrafts with fuel-efficient engines to increase air
passenger traffic. In addition, growing international and domestic traffic
influences the request for next-generation aircraft. EMEA is estimated to grow
at fastest pace in the upcoming years, as it has strong technical and
production abilities.
The
key players of Wide-body Aircraft Engine Market are Rolls-Royce, GE Aviation,
Pratt & Whitney, and others classify industry. These players are
concentrating on inorganic growth to sustain themselves amongst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of
the hour.
Market Segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Wide-body Aircraft Engine in these regions,
from 2012 to 2022 (forecast), covering
•
North America
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
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