Aero Turbofan Engine Market 2018 Key Players Safran Aircraft Engines, General Electric, Honda Aero, Lufthansa, IHI Corporation, MTU Aero Engines, Pratt & Whitney, CFM International, UEC PERM Engines, Rolls-Royce Holdings, and Honeywell International

(I-TravelNewswire.Com, August 07, 2018 ) Aero Turbofan Engine Market driven by aircraft such as light fighters, business jets, single aisle transports, heavy jet transports, and trainer aircrafts. Increasing air traffic due to growth in tourism, rising middle class population, and high living standards significantly contributes industry demand over the forecast timeline.

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Electrification of primary power in the aircrafts is gaining interest owing to intrinsic limitations of turbofan technology. Electric products offer light weight, compact, modular unit, easy control, minimal maintenance, ease of integration, low noise level, reduced operating costs, and designed with inherent robustness. Targeted applications include flight training and air taxi for private pilots. This may negatively affect the aero turbofan engine market share over the next eight years.

Technological innovations are driving the product acceptance across the aviation industry over the projected time span. Incorporation of geared turbofan concept in the basic form will minimize thrust specific fuel consumption, fan blade tip speed, and overall product weight. Airbus, Mitsubishi, Irkut, Bombardier, and Embraer are few industry participants who have chosen the geared turbofan for their short & medium haul aircraft and new regional jet planes.

Industry players focus on improving the product performance to conform to the stringent emission regulations. Players are consistently working on developing requisite technologies to improve product efficiency. Increasing research activities may open new growth opportunities for the manufacturers over the forecast timeframe.

Asia Pacific aero turbofan engine market size is estimated to be the fastest growing region owing to emerging economies such as India and China. For instance, in December 2016, China powered up its military jet engines technology to wean itself off from Russia imports. Advancements in product design, radar systems, and home-grown turbofan technology showcased that the country is no more reliant on Russian products for next generation of fighter planes. In addition, India introduced Hindustan Turbofan Engine 25 (HTFE-25) in Aero India-2017 that will be ready for first flight by 2018. This was pitched and designed to power business jets and trainer aircrafts in the twin engine configuration.

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Global industry players are Safran Aircraft Engines, General Electric, Honda Aero, Lufthansa, IHI Corporation, MTU Aero Engines, Pratt & Whitney, CFM International, UEC PERM Engines, Rolls-Royce Holdings PLC, and Honeywell International Inc.

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