Aircraft engines are the engine which converts fuel energy into useful mechanical energy that is used for propelling the aircraft. The functioning of aircraft depends on turbo superchargers, appurtenances, and accessories. In an aircraft engine, air is drawn in the front through an inlet, compressed by a fan, combined with fuel and combusted, and then fired out as a hot, fast moving exhaust at the back, which propels the plane ahead.
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Aircraft engines are either light-weight piston engines or gas turbines, except for small multicopter UAVs (Unmanned Aerial Vehicle) which are always electric aircraft. The engine used for propelling an aircraft are jet engines or rocket engines. The important factor of gas turbine engine is that gas turbine engines have a extremely good energy-to-weight ratio compared to reciprocating engines.
Market Growth Factors :
The increasing demand for relax and less time taking tour of passengers and transportation of products drives the development of the market. It is used in military sector for countering terrorism, illegal infiltration, drug trafficking, and others are also major driving factors for the growth of aircraft engine market. The market is also growing due to the increasing aircraft orders, and demand for fuel efficient engines. Increase in demand for lightweight aircraft engines is a great opportunity for the market.
Market Segmentation :
Aircraft engine market is segmented on the basis of type, application, platform, and region. By type the market is segmented into turboprop engine, turbofan engine, turboshaft engine, and piston engine. The application segment is divided into commercial aviation, military aviation, and general aviation. The platform for this market are fixed wing and rotary wing.
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Regional Analysis :
The key regions of aircraft engine market are North America, Europe, APAC, Latin America, and MEA. APAC is the fastest growing region in aircraft market, the growth is due the increase in manufacturing of commercial aircraft in countries like China and Japan.
Competitive Analysis :
The aircraft engine market has different competitive players like Rolls-Royce plc, GE Aviation, Pratt & Whitney, CFM International, Engine Alliance, IAE International Aero Engines AG, MTU Aero Engines, Safran, and Honeywell Aerospace. In future, there may be new entrance of players in the market. To gain a competitive side in the market, players adopt different growth factors like development, acquisition, merger, and others
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