Aircraft Propulsion System Market - By Type (Air Breathing Engine, Non-air Breathing Engine), By Application (Aircraft, Missiles, UAVs, Spacecraft), By End-use Industry (Aerospace & Defense, General Aviation, Commercial Aviation) & Forecast, 2023 - 2032

Aircraft Propulsion System Market Size

Aircraft Propulsion System Market was valued at over USD 250.7 million in 2022 and is anticipated to grow at a CAGR of over 10.4% between 2023 and 2032.

The market for aviation propulsion systems is expanding due to the rising trend of electrification in aircraft propulsion. There are various benefits to electrification as it is consistent with international environmental goals and drastically lowers greenhouse gas emissions. In addition to being quieter, electric propulsion technologies improve passenger comfort and lessen noise pollution in the vicinity of airports.

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As they require less maintenance and are energy-efficient, they minimize running costs. The need for electric propulsion systems is growing as aviation aims to become more economical and environmentally friendly, thus encouraging innovation and investment in the aircraft propulsion business. For instance, in June 2023, Japan’s Nidec Corporation and Brazil’s Embraer signed an agreement to establish a joint venture company called Nidec Aerospace LLC to develop electric propulsion systems for the aerospace sector. The transaction combined the complementary synergies and distinct areas of expertise of both companies to spearhead a new era of air mobility.
 

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An aircraft propulsion system is a mechanism that generates thrust to propel aircraft forward. It typically includes engines, such as jet engines or propellers, which convert fuel into mechanical energy, producing the necessary thrust for flight. These systems are essential for the movement an control of aircraft in various aerospace applications.

Longer timescales may cause delays in the adoption of cutting-edge propulsion technologies, which will make it more difficult for the sector to adapt to the changing efficiency and environmental requirements. Prolonged development periods also raise research and development costs, which have an impact on manufacturers' total profitability. In the fiercely competitive aviation sector, protracted manufacturing schedules can cause businesses to lag or lose market share to rivals. Furthermore, due to lengthier timescales, it is difficult to adjust to quickly shifting market and regulatory conditions, which are crucial in the aviation industry.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the aircraft propulsion system market. The number of aircraft orders & deliveries fell drastically as a result of travel restrictions, decreased passenger demand, and airline financial issues. Manufacturers of propulsion systems were impacted by airlines deferring or canceling orders. The epidemic sharpened airlines' attention to fuel economy and cost containment, which may have stimulated interest in more sophisticated propulsion systems. On the other hand, it also caused delays in R&D and certification procedures for new technology. Overall, there was a brief downturn in the market, and its recovery will depend on how quickly the aviation sector recovers & how long sustainable aviation solutions continue to trend.

Aircraft Propulsion System Market Trends

The development of electric & hybrid-electric propulsion systems, which provide more economical and ecologically friendly substitutes for conventional engines, is a key component of the electrification movement. Electric propulsion is becoming more & more common, especially in smaller regional aircraft and urban air mobility. These technologies offer quieter, more environmentally friendly flight solutions by using electric motors & batteries to minimize pollutants and fuel usage. With the need for energy-efficient air travel and to address environmental issues, the aviation sector is making significant investments in electric propulsion.

Advanced materials are increasingly being used in airplane propulsion systems to save weight and increase performance. Current engine components are manufactured using lightweight, strong materials such as sophisticated alloys and carbon composites. In addition to improving fuel economy, these materials help aircraft lose their overall weight, which is essential for improving performance and lowering fuel consumption. The industry's continuous quest for innovation to improve propulsion systems' efficiency and environmental friendliness is demonstrated by the move toward sophisticated materials.

Aircraft Propulsion System Market Analysis

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Based on end user, the market is divided into aerospace & defense, general aviation, and commercial aviation. The commercial aviation segment dominated the global market with a share of over 50% in 2022.

• The global demand for air travel continues to rise, driven by factors such as population growth, urbanization, and the growing middle class. As more people opt for air travel, airlines are expanding their fleets, thus driving the demand for advanced propulsion systems. New propulsion technologies, such as more fuel-efficient turbofan engines and alternative propulsion systems (e.g., electric or hybrid-electric), are being developed to enhance fuel efficiency. This not only reduces operating costs but also aligns with sustainability goals.
• Airlines are replacing older, less efficient aircraft with newer, more technologically advanced models. These modern aircraft are often equipped with state-of-the-art propulsion systems for better performance. With the growing popularity of long-haul flights, airlines are investing in aircraft with advanced propulsion systems that offer greater range and fuel efficiency, thus catering to the needs of global travelers.

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Based on type, the market is segmented into air breathing engine [turbojet engines, ramjets, scramjets, and IC engines], non-air breathing engine [electric propulsion, solid propulsion, and liquid propulsion]. The non-air breathing segment is anticipated to register a CAGR of over 10% through 2032.

• Non-air breathing systems, especially electric propulsion, are highly efficient and offer reduced carbon emissions. They align with the aviation industry's increasing focus on sustainability and environmental responsibility. Electric & some solid propulsion systems are quieter compared to traditional jet engines, making them ideal for urban air mobility and reducing noise pollution in densely populated areas.
• Ongoing advancements in battery technology, electric motor efficiency, and the development of advanced materials enable non-air breathing systems to offer better performance, longer ranges & improved safety. Increasing interest from both consumers & industries for urban air mobility, drone delivery services, and smaller, more sustainable regional aircraft drives the demand for non-air breathing propulsion systems.

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North America dominated the global aircraft propulsion system market with a share of over 30% in 2022. North America hosts major aviation manufacturers including Boeing and Airbus, leading to a continuous demand for advanced propulsion systems. Second, the region's commitment to aviation safety and technological innovation drives the need for the latest propulsion technologies. Third, the substantial domestic airline industry, along with military aviation requirements, generates consistent demand for cutting-edge propulsion systems. Furthermore, ongoing investments in research & development, especially in electrification and sustainable aviation fuels, ensure that North America remains at the forefront of propulsion system development and fuel the overall market growth.

Aircraft Propulsion System Market Share

Players operating in the aircraft propulsion system industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market. Some major players operating in the aircraft propulsion system industry are mentioned below

• 3W International GmbH
• Bombardier Recreational Products Inc.
• Busek Co. Inc.
• General Electric Company
• Honeywell International Inc.
• NPO Energomash
• Rolls-Royce Holdings plc.

Aircraft Propulsion System Industry News

• In March 2023, LAKELAND, Fla., a subsidiary of BRP Inc., launched the Rotax 916iS/c aircraft propulsion system, which is suitable for four-seater planes and high-performance two-seaters.
• In June 2021, Rolls-Royce completed the first fuel burn of a small gas turbine specifically designed to power hybrid-electric flight. The engine uses novel combustion technology to produce ultra-low emissions, and this significant achievement confirms the effectiveness of the compact, power-dense turbine.

The aircraft propulsion system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments

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Market, By Type

• Air Breathing Engine
  • Turbojet Engines
  • Ramjets
  • Scramjets
  • IC Engines
• Non-air Breathing Engine
  • Electric Propulsion
  • Solid Propulsion
  • Liquid Propulsion
• Others

Market, By Application

• Aircraft
• Missiles
• UAVs
• Spacecraft

Market, By End-use Industry

• Aerospace & Defense
• General Aviation
• Commercial Aviation

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA