Aircraft Turbofan Engine Market In 2029

aircraft turbofan engine industry insights

aircraft turbofan engine market drivers

The Business Research Company's Aircraft Turbofan Engine Market In 2029

Expected to grow to $4.33 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, December 18, 2025 /EINPresswire.com/ -- "Aircraft Turbofan Engine Market to Surpass $4 billion in 2029. In comparison, the Aircraft Engines market, which is considered as its parent market, is expected to be approximately $62 billion by 2029, with Aircraft Turbofan Engine to represent around 6% of the parent market. Within the broader Aerospace & Defense industry, which is expected to be $1,102 billion by 2029, the Aircraft Turbofan Engine market is estimated to account for nearly 0.4% of the total market value.

Which Will Be the Biggest Region in the Aircraft Turbofan Engine Market in 2029
North America will be the largest region in the aircraft turbofan engine market in 2029, valued at $2,009 million. The market is expected to grow from $1,470 million in 2024 at a compound annual growth rate (CAGR) of 6%. The strong growth can be attributed to the increasing number of air passengers.

Which Will Be The Largest Country In The Global Aircraft Turbofan Engine Market In 2029?
The USA will be the largest country in the aircraft turbofan engine market in 2029, valued at $1,748 million. The market is expected to grow from $1,269 million in 2024 at a compound annual growth rate (CAGR) of 7%. The strong growth can be attributed to the technological advancements and increasing mergers and acquisitions.

Request a free sample of the Aircraft Turbofan Engine Market report:
https://www.thebusinessresearchcompany.com/sample_request?id=10132&type=smp

What will be Largest Segment in the Aircraft Turbofan Engine Market in 2029?
The aircraft turbofan engine market is segmented by engine type into PW4000, GEnx, Trent 1000, F414 CFM LEAP, and other engines. The cubic feet per minute leading edge aviation propulsion (CFM LEAP) market will be the largest segment of the aircraft turbofan engine market segmented by engine type, accounting for 70% or $2,804 million of the total in 2029. The cubic feet per minute leading edge aviation propulsion (CFM LEAP) market will be supported by fuel efficiency, growing demand for modern wide-body aircraft, sustainability goals and rise in air travel.

The aircraft turbofan engine market is segmented by aircraft type into narrow-body aircraft, wide-body aircraft and other types. The narrow body aircraft market will be the largest segment of the aircraft turbofan engine market segmented by aircraft type, accounting for 64% or $2,567 million of the total in 2029. The narrow body aircraft market will be supported by rising air travel demand, fleet modernization, environmental regulations, low-cost carriers (LCCs).

The aircraft turbofan engine market is segmented by application into military aviation, commercial air transport and other applications. The commercial air transport market will be the largest segment of the aircraft turbofan engine market segmented by application, accounting for 70% or $2,798 million of the total in 2029. The commercial air transport market will be supported by global air travel trends, technological advancements in engine efficiency, environmental regulations and airline fleet renewal cycles.

What is the expected CAGR for the Aircraft Turbofan Engine Market leading up to 2029?
The expected CAGR for the Aircraft Turbofan Engine Global Market leading up to 2029 is 7%.

What Will Be The Growth Driving Factors In The Global Aircraft Turbofan Engine Market In The Forecast Period?
The rapid growth of the global aircraft turbofan engine global market leading up to 2029 will be driven by the following key factors that are expected to reshape airline operations, fleet economics, maintenance/repair/overhaul (MRO), and aerospace manufacturing processes worldwide.

Increasing Demand For Air Cargo - The increasing demand for air cargo will become a key driver of growth in the aircraft turbofan engine market by 2029. As global air cargo demand rises, driven by the growth of e-commerce, increasing expectations for faster delivery and evolving supply chain requirements, cargo airlines are expanding their fleets. This expansion typically involves acquiring new, more efficient aircraft equipped with advanced turbofan engines. As a result, the increasing demand for air cargo is anticipated to contributing to annual growth in the market.

Strong Economic Growth In Emerging Markets – The strong economic growth in emerging markets will emerge as a major factor driving the expansion of the market by 2029. As emerging markets experience economic expansion, disposable incomes increase, resulting in a heightened demand for air travel. This enables a larger segment of the population to afford flights for business and leisure purposes, prompting airlines to expand their fleets. Consequently, this growth in fleet size drives the demand for new aircraft and their associated components, including aircraft turbofan engine. As a result, the strong economic growth is anticipated to contributing to annual growth in the market.

Government Support – The government support will serve as a key growth catalyst for the market by 2029. As these governments invest in modernizing their military fleets, the demand for advanced turbofan engines grows to meet the operational needs of contemporary fighter jets, transport planes and surveillance aircraft. As a result, the government support is anticipated to contributing to annual growth in the market.

Access the detailed Aircraft Turbofan Engine Market report here:
https://www.thebusinessresearchcompany.com/report/aircraft-turbofan-engine-global-market-report

What Are The Key Growth Opportunities In The Aircraft Turbofan Engine Market in 2029?
The most significant growth opportunities are anticipated in the CFM LEAP aircraft turbofan engine market, the narrow-body aircraft turbofan engine market, and the aircraft turbofan engine for commercial air transport market. Collectively, these segments are projected to contribute over $2 billion in market value by 2029, driven by rising global air travel demand, increased fleet modernization initiatives, and continued emphasis on fuel-efficient, lower-emission propulsion technologies. This momentum reflects the aviation industry’s accelerating transition toward next-generation engine platforms that deliver improved performance, reduced operating costs, and enhanced sustainability, supporting transformative growth across the broader commercial aircraft propulsion sector.

The CFM LEAP aircraft turbofan engine market is projected to grow by $1,001 million, the aircraft turbofan engine for commercial air transport market by $817 million, the narrow-body aircraft turbofan engine market by $722 million over the next five years from 2024 to 2029.

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. We have published over 17,500 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package and much more.

Disclaimer: Please note that the findings, conclusions and recommendations that TBRC Business Research Pvt Ltd delivers are based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such TBRC Business Research Pvt Ltd can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect. Analysis and findings included in TBRC reports and presentations are our estimates, opinions and are not intended as statements of fact or investment guidance.

Contact Us:
The Business Research Company
Americas +1 310-496-7795
Europe +44 7882 955267
Asia & Others +44 7882 955267 & +91 8897263534
Email: info@tbrc.info

Oliver Guirdham
The Business Research Company
+44 7882 955267
info@tbrc.info
Visit us on social media:
LinkedIn
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.