Volume Insights on Aircraft Propulsion Systems Sector
Volume Insight Strategic Overview
Allied Market Research announces the release of its comprehensive analysis of the global number of aircraft propulsion systems. Aircraft propulsion systems are designed to generate the necessary thrust to overcome aerodynamic drag and lift the aircraft into flight. An aircraft propulsion system achieves the required thrust by converting energy from fuel, electricity, or other sources into mechanical or reactive force which propels the aircraft forward.
The report highlights the growing demand for aircraft propulsion systems. Propulsion systems allow pilots to control the speed of the aircraft during different phases of flight, such as takeoff, cruising, and landing. Advanced propulsion systems also aid in precision maneuvering, which is crucial in both commercial and military aviation.
The moderate growth in the number of aircraft propulsion systems volume share is attributed to the growing advancement in electric and hybrid aircraft, increase in air travel, and growing orders of new aircraft from developing countries.This rapid expansion is supported by modernization of military aircraft programs around the world, and growing demand for personal aircraft.
Regional Aircraft Propulsion System Sector Volume Growth
North America dominated the aircraft propulsion system sector sales with 42.4% share in 2023 with a 4.9% CAGR, while Europe, Asia-Pacific and LAMEA show strong growth at 3.4%, 4.1%, and 4.5% CAGR, respectively from 2024-2033, driven by growing regional urban air mobility trends and increasing sustainability efforts.
The regional analysis highlights significant variations in adoption trends and sector potential across the globe. North America leads the aircraft propulsion system sector volume growth, contributing over 42.4% of the total volume in 2023 and expected to grow at a CAGR of 4.9%, driven by advancements in aircraft propulsion system such as growing emphasis on electric propulsion technology moreover, increase in investments in autonomous aircraft in countries such as the U.S., and Canada. The growth in Asia-Pacific region is led by China, Japan, India, South Korea, and others, and is expected to grow at a steady 4.1% CAGR.
This growth is driven by increasing air travel in countries like Thailand, Japan, Indonesia, China, and India. To support rising tourism, governments are investing in airport infrastructure, with major projects like Beijing Daxing International Airport, Changi Airport expansion in Singapore, and Navi Mumbai International Airport in India. Europe, with key players such as the UK, Germany, France, and other countries, is expected to grow at a 3.4% CAGR. Rising political tensions, the Russia-Ukraine war, and conflicts near the Middle East are driving more military aircraft purchases in the region, Meanwhile, LAMEA offers significant growth opportunities with a 4.5% CAGR, driven by regions such as Brazil, UAE, and Saudi Arabia, strong growth in business travel, and increase growing airport connectivity in the region.
Aircraft Propulsion System Sector Volume Growth, By Region, 2023-2033 (Million Units)
Region | 2024 | 2028 | 2033 | CAGR (2024-2033) |
North America | 15 | 17 | 24 | 4.9% |
Europe | 10 | 11 | 14 | 3.4% |
Asia-Pacific | 8 | 9 | 11 | 4.1% |
LAMEA | 2 | 3 | 4 | 4.5% |
Total | 35 | 40 | 53 | 4.6% |
Source: AMR Analysis
Aircraft Propulsion System Country Sector Sales
U.S., Canada, and China lead the aircraft propulsion system sector volume projection to grow at 5.6%, 4.8%, and 7.7%, respectively while India (6.9% CAGR) and LAMEA (3.85% CAGR) emerge as high-growth areas driven by the rise of advanced air mobility and urban air transport initiatives.
The report identifies the U.S., Canada, and China as the largest contributors to the aircraft propulsion system sector volume forecast in terms of installations. In the U.S., the growing production of aircraft is expected to positively grow the aircraft propulsion system field. Moreover, the government in the U.S. is increasingly investing in manufacturing of new military aircrafts, which is further driving the growth of the sector. Canada is anticipated to grow at 4.8% during the forecast period. China, on the other hand, remains a critical player in the Asia-Pacific region, growing at a steady 7.7% CAGR from 2024-2033.
Emerging regions such as India and Brazil are expected to drive significant growth due to increase in demand for regional air travel and growing emergence of new aircraft manufacturing companies. Moreover, Brazil air travel is witnessing a growth rate of 6.6% owing to increase in domestic travel, further driving the ecosystem demand. The Middle East, representing the LAMEA region, is projected to grow at a CAGR of 4.4%, supported by its strategic investments in next-generation mobility infrastructure and growing demand for improved air connectivity.
Aircraft Propulsion System sector by Country (Thousand Units)
Aircraft Propulsion System sector by Country | 2023 (000 Units)) |
U.S. | 8 |
Canada | 5 |
China | 3 |
UK | 3 |
Germany | 3 |
France | 2 |
Source: AMR Analysis
Key Highlights by Stakeholders
Highlighting the significance of this report, Ashwani Ajwani, Vice-President of Allied Market Research, stated, “the growing advancement in electric and hybrid aircraft technology has resulted in increased research and development in the aircraft propulsion industry, which is driving the sector growth.” He further added, “in North America, rise in geopolitical tension has led to increase investment in modernizing military aircraft. Moreover, the U.S. and Canda have pledged their allegiance to NATO, which works alongside United Nations peace keeping mission and arctic security. This has increased the demand for modern fighter jets, further driving growth in the aircraft propulsion system industry.
Aircraft Propulsion System Sector Volume Trends
The report also highlights the growing role of increase in air travel, and growing orders for new aircraft from developing countries. The demand for new aircraft is particularly driven by economic growth, expanding middle-class populations, and growing focus on improving regional and international connectivity. Increase in demand for air travel has resulted in increase in use of new aircraft for use for air travel, thus driving the sector demand for aircraft propulsion system.
In addition, modernization of military aircraft, and increase in sales of personal aircraft are significantly driving the growth of the aircraft propulsion system domain. Changing consumer preferences, as well as growing demand for convenience has increased the sales of personal aircraft. The growing technological advancement in light jets, turboprops, and single-engine aircraft offers increased fuel efficiency and reduced maintenance costs, which is driving up the sales of personal aircraft.
Furthermore, the study discusses the potential impact of stringent government regulations, and high maintenance costs. Maintaining aircraft propulsion systems requires a substantial amount of cost as they are highly complex in nature and consist of thousands of precision-engineered components to operate efficiently. To ensure the safe and efficient operation of these systems requires specialized expertise, tools, and facilities to maintain thus increasing the overall cost.
Aircraft propulsion system manufacturers and stakeholders should use the report’s insights to grab new opportunities and plans.
About Allied Market Research
Allied Market Research is a full-service market research and business consulting firm, which provides actionable insights and strategic recommendations to help clients make informed decisions and achieve sustainable growth. For more inquiries, please visit alliedmarketresearch.com
