Europe Aircraft Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Europe Aircraft Engines Market is projected to grow at a CAGR of over 4% during the forecast period.
Key HighlightsSince the advent of commercial aviation, airlines have been engrossed in employing operational engines with increased fuel efficiency and reduced overall operational costs. Thus, the selection of advanced materials with increased durability is preferred to ensure performance without compromising on service life aspect of aircraft engines. The present generation of engines are digitally controlled, and the power output is controlled using sensors at different levels of flight. Sensors are located at various key locations, and multi-dimensional data such as temperature, pressure, vibration, and oil debris are collected in real-time. Aircraft OEMs and engine manufacturers are engaging in extensive integration efforts to enhance performance and extend the range of aircraft. For instance, Pratt & Whitney, a leading aircraft engine manufacturer, has been offering a high-bypass GTF called PW1000G (under the brand name PurePower) as a powerplant option to aircraft such as Embraer's second-generation E-Jets and MRJs. This family of engine incorporates an improved gearbox that empowers the fans to rotate at a slower speed than the blades of the driving internal turbine, leading to increased efficiency. The manufacturer claims that PW1000G can ensure a 12%-15% reduction in fuel consumption, around 15% reduction in CO2 emissions, and a decrease of 50% in nitrogen oxide (NOx) emissions, besides operating with a much lower level of noise. Also, due to the high number of forecasted deliveries, the civil and commercial aviation segment would overshadow the military aviation segment of the market in focus during the forecast period.
Western European Countries to Dominate the Market During the Forecast PeriodThe European Union (EU) is predominantly involved in R&D activities in the aerospace domain and houses several aircraft engine OEMs. The efforts to partner with suppliers have led to the formation of global networks, which have boosted the overall capabilities of the industry further. France is one of the leading testbeds for new engine technologies. Hence, in February 2019, Safran inaugurated a new research center near Paris to develop next-generation very-high-performance turbine blades. The advanced turbine blades research facility is part of the corporate Research & Technology center, Safran Tech. Similarly, in July 2018, Safran inaugurated a new LEAP engine parts plant in Poland to fabricate low-pressure turbine blades for the LEAP turbofan engine. With market players expanding their research and production base in Western Europe, a positive outlook is anticipated for the market in focus in the region.
Competitive LandscapeThe aircraft engine market in Europe is consolidated in nature, with a handful of engine OEMs such as Safran SA, United Engine Corporation (Rostec State Corporation), Rolls-Royce plc, Pratt & Whitney (Raytheon Technologies Corporation), General Electric Company, and CFM International dominating the market. Vendors must provide advanced and high-quality gas turbine engines to survive and succeed in the intensely competitive market environment. In-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and a strong client base are the key areas to have the edge over competitors.
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