GLOBAL AIRCRAFT ENGINES MARKET
Engines are the most important component of any vehicle and it is no different in case of aircrafts. Aircraft engine can range from simple and low-cost piston engines commonly equipped on lighter aircrafts to extremely quick and sophisticated fighter jet engines.
In past 120 years of aircraft engine development, engineers have always focussed on more power, durability and better fuel efficiency at the same time implementing weight savings. There is no doubt that Aerospace technologies greatly benefited from world wars earlier but the recent developments have focussed more on reducing emissions and increasing electrification.
Commercial Airlines, now more than ever are looking for stable engine operation and reduce unscheduled engine removals and significant events that could curtail their regular operations.
AIRCRAFT ENGINES MARKET DYNAMICS
|1||December 2021||CFM||CFM has partnered with FLYNAS in order to sign an agreement for the purchase of LEAP-1A Engines.|
|2||December 2021||CFM||Saudi Arabian Airlines Corporation and CFM has signed a multi-year service agreement for the purchase of LEAP-1A Engines to power its new fleet of 35 Airbus A321neo and 35 A320neo aircraft.|
|3||November 2021||CFM||CFM and Salam Air have signed an engine maintenance agreement with the acquisition of spare engines.|
|4||September 2021||Rolls Royce||Rolls Royce has partnered with Aeralis in order to develop its modular military aircraft.|
|5||June 2021||GE Aviation||GE Aviation has been partnered with Safran in order to launch Advanced Technology for Sustainable Engines with 20% lower fuel consumption.|
|6||March 2021||CFM||Southwest Airlines has announced that it has purchased the CFM International LEAP-1A Engines to power 100 Boeing 737 MAX 7 Aircraft.|
Despite COVID-19 the aircraft engine manufacturers are moving ahead with their plans to launch high tech engines like Textron Aviation has continued work on the Denali (turboprop single). Similarly, GE Aviation still expects the first flight of its new Catalyst turboprop engine and delivery of the first engine to Textron Aviation in 2020.
Like other transportation modes, Aviation is also now moving towards sustainable aviation fuel. In Dec 2019, Bombardier announced that Latitude 33 Aviation, a private jet charter company based in California, took delivery of the first Bombardier customer aircraft to fly away on sustainable aviation fuel (SAF).
In terms of electrification, on 29th May 2020, Magnix made the first flight with a prototype of a Cessna 208B Grand Caravan aircraft powered by 750-hp Magni500 all-electric propulsion system. U.S. startup Archer announced plans to bring an eVTOL aircraft to market. Voltaero – a French startup started flight testing the fixed-wing design in March 2020 and has plans to achieve type certification under EASA’s CS-23 rules, deliveries to begin by the 2022-end.
AIRCRAFT ENGINES MARKET SEGMENTATION
AIRCRAFT ENGINES MARKET By Geography
- Saudi Arabia
- South Korea
- Rest of the world
AIRCRAFT ENGINES MARKET By End use
AIRCRAFT ENGINES MARKET By Application
- General Aviation
- Commercial Aviation
AIRCRAFT ENGINES MARKET By Engine type
NEW CONTRACTS AWARDED IN GLOBAL AIRCRAFT ENGINES MARKET
June 2020– GE Aviation was awarded a $394 Million contract from the Defense Logistics Agency (DLA) to provide J85 engine supplies for the US Air Force and Navy
April 2020– S.S. White Technologies signed an additional five-year Long-Term Agreement for supplying flexible rotary shafts to Honeywell Aerospace
April 2020– Pacific Propeller International reached agreement with Dowty Propellers as Factory authorized repair & overhaul facility. Pacific Propeller has provided repair and overhaul services to metal propellers and their control systems on Lockheed C-130 Hercules, Lockheed P-3 Orion, Lockheed L-188 Electra, Convair 580 etc
Feb 2020– Rhinestahl CTS signed an exclusive service agreement with EngineStands24 for managing and ensuring the readiness of EngineStand24’s entire engine stand fleet including LEAP, CFM56, CF6 and CF34
Feb 2020-GE Aviation Launches HPT(high pressure Turbin) Durability Upgrade Program for CF34-8 Engines to be first fitted on BeauTech and Sky Regional Airlines
Jan 2020– Jazeera Airways signed a $1.3 Billion long-term Rate Per Flight Hours (RPFH) agreement with CFM International to support the LEAP-1A engines that power the airline’s fleet of Airbus A320neo aircraft. The agreement covers a minimum of 20 aircraft and five spare engines
Jan 2020- Aircraft Propeller Service, LLC was awarded a five-year comprehensive propeller maintenance contract from the Lion Air Group for support of Lion Air’s fleet of 80 ATR 72’s
Dec 2019– Safran and MTU Aero engines after signing LOI for developing next-generation European fighter aircraft NGF, settled details on workload distribution .Safran will take the lead in engine design and integration, and MTU Aero Engines will take the lead in engine services.
Nov 2019– MTU Maintenance and Malaysia Airlines signed an exclusive 10-year contract for the airline’s over 100 CFM56-7B engines. The contract included MRO for the engine fleet until phase-out and includes lease engines
GLOBAL AIRCRAFT ENGINES MARKET SIZE AND FORECAST
All major engine manufacturers had expected the Revenues in the commercial series production business to increase organically by 6-7% in 2020. But Coronavirus impact is likely to make them withdraw their earnings outlook for 2020-21.
General Aviation in US( world`s biggest market) could grow by double digits in next 2 years as affluent population would prefer to travel in Private/charter planes as compared to commercial airlines.
GLOBAL AIRCRAFT ENGINE MARKET NEW ACQUISITION
Vortex Aviation, Inc., a leader in quick-turn engine repairs and worldwide AOG on-wing engine maintenance services for all significant commercial aircraft engine platforms, has been acquired by Kellstrom Aerospace Group, Inc.
For many of the world’s aircraft lessors and airlines, Vortex Aviation offers global support and turnkey solutions from repair facilities in Fort Lauderdale, Florida, Shannon, Ireland, and Singapore.
The acquisition enhances Kellstrom Aerospace Group’s position as the world’s foremost provider of aircraft lifecycle solutions and expands the company’s range of services focused at lowering aircraft operating expenses and raising residual values.
Our clients and the commercial aerospace sector will benefit greatly from the acquisition of Vortex Aviation, which will work in conjunction with Kellstrom Aerospace and The Aircraft Group (TAG). The scope of technical services has significantly expanded with Vortex Aviation’s addition to Kellstrom Aerospace Group.
The organisation can offer unbiased cost-saving solutions across all main engine platforms, whether servicing on-wing support, performing minor in-house repairs, managing engines through full performance restoration, or working on technical consultancy projects.
The Aircraft Group, Vortex Aviation, and Kellstrom Aerospace are the three global names under which Kellstrom Aerospace Group, a portfolio company of AE Industrial Partners, LLC, conducts business.
In addition to OEM parts distribution and OEM services, pre-owned parts distribution, commercial aftermarket parts provisioning and sunset fleet services, technical services, consignment management, repair management, overhauled rotable component programmes, whole aircraft/engine asset leasing and trading, and fleet provisioning programmes.
It is based on real world experience are just a few of the cost-effective supply chain solutions offered by Kellstrom Aerospace. All service offerings are covered by the 24/7 AOG and JIT support offered by Kellstrom Aerospace.
GLOBAL AIRCRAFT ENGINE MARKET NEW PARTNERSHIPS
For business aviation customers, GE Aviation has announced 4AIR as its environmental offset partner. This collaboration with 4AIR provides business aviation customers with comprehensive sustainability programmes that offset their environmental impact from flight emissions, and is in line with GE’s goal of becoming a net-zero company in the coming years, including Scope 3 emissions from the use of sold products.
GE Aviation is able to provide competitive levels of carbon offset pledges through its cooperation with 4AIR, allowing the most exclusive business jet customers to compensate for today’s emissions. Environmental offset pledges will be required as private aviation grows in order to achieve industry and global climate goals.
EasyJet, a low-cost airline, and Rolls-Royce, an engine manufacturer, have partnered to further the possibilities of hydrogen combustion technology. The Race to Zero effort, which is supported by the UN and aims to achieve net-zero carbon emissions by 2050, served as the inspiration for the partnership.
EasyJet and Rolls-H2ZERO Royce’s project will launch testing of a hydrogen combustion engine later this year with the aim of powering aircraft by the middle of the 2030s. The goal is to create hydrogen technology that can power a variety of aircraft, including narrowbody aircraft.
To accelerate the development of the next generation of aircraft engines, GE Aviation and Boeing recently announced a significant alliance. A new generation of aviation technology being developed in collaboration with the National Aeronautics and Space Administration, it chose Boeing to conduct a flying test of the system (NASA).
With the cooperation of GE Aviation, NASA, and Boeing, it unites some of the biggest aviation technology companies in the world to make hybrid electric commercial flight a reality and aid in aviation’s transition to a low-carbon industry.
NEW DEVELOPMENTS IN THE AIRCRAFT ENGINES MARKET
|1||December 2021||Pratt & Whitney||Pratt & Whitney has revealed the new fuel efficient engine for the Airbus A320 neo family aircraft.|
|2||December 2021||GE Aviation||GE Aviation has successfully conducted the phase 1 testing of its second XA100 adaptive cycle engine for the US Air Force.|
|3||November 2021||Rolls Royce||The Rolls Royce Trent 700 engine is set to power its two Multi Role Tanker Transport(MRTT) aircraft for the United Arab Emirates(UAE).|
|4||November 2021||GE Aviation||GE Aviation has been awarded two contracts for supporting T700 engine fleets for the US Military.|
|5||November 2021||Pratt & Whitney||Pratt & Whitney has launched the new PW127XT Engine for ATR 42/72 aircraft which will deliver the next level of efficiency, time-on-wing and service.|
|6||January 2021||GE Aviation||GE Aviation has been awarded a new contract for the delivery of additional T408 turboshaft engines for US Naval Air Systems.|
|7||2021||RED Aircraft||The Red Aircraft has released the new RED A03 Aviation Piston Engine with more than 50% lower fuel burn.|
|8||2021||GE Aviation||GE Aviation has released the new GE9X Commercial Aircraft Engine for the Boeing 777X Family which is the most fuel-efficient engine GE has produced.|
GE Aviation recently completed successful testing of its Passport long-range business aviation engine using Sustainable Aviation Fuel (SAF), a low-carbon alternative jet fuel.
The Passport engine can now run on certified SAF, and recent testing has shown that it can run on 100 percent SAF. It was the first time the Passport engine had been subjected to a complete SAF test.
SAF is now allowed for usage as a 50 percent blend of petroleum-based Jet A or Jet A-1 fuel and a SAF component. ASTM International, a technical standards group, has not yet qualified 100 percent SAF.
One of GE’s fuel experts is on the steering committee of an international task force tasked with developing standardised industry criteria to enable the deployment of 100 percent drop-in SAF, which does not require blending with conventional jet fuel.
The Passport engine, like all GE engines, can run on authorised Sustainable Aviation Fuel today and in the future, according to testing. When compared to previous-generation business jet engines, Passport engine can help them achieve their sustainability goals of reducing CO2 emissions in flight.
In order to meet these needs across Civil Aerospace portfolio, Rolls-Royce has started a number of new engine demonstrator programmes. These programmes use new architectural designs and cutting-edge technological advancements to provide 2-shaft and 3-shaft engine solutions for upcoming aircraft applications.
2 Shaft Jet Engines: A New Era
Advance2 is an ecosystem for exhibiting future solutions in the large cabin business jet market, fusing new core designs and LP systems with new technology. By cramming even more efficiency into the same nacelle environment, it is possible to meet future noise and emission regulations while improving SFC performance and achieving an OPR of 50:1.
Three-shaft jet engines enter a new era:
Advance3 combines a revolutionary core architecture with a lightweight, low-pressure (LP) system, composite fan, lean burn combustion, and a host of cutting-edge manufacturing and materials technologies, including as 3D printing and CMCs, to demonstrate efficiency benefits for future 3-shaft engines.
AIRCRAFT ENGINES MARKET COMPETITIVE LANDSCAPE
|1||H1-2021||Rolls Royce||The revenue of Rolls Royce at the end of the first half of 2021 was £5.15 billion and in 2020 the revenue was £5.67 billion.|
|2||Q3-2021||MTU Aero Engines||At the end of the third quarter the revenue of MTU Aero Engines was €1 billion and in the previous year the revenue was €908 million.|
|3||October 2021||Rolls Royce||Rolls Royce has opened a new Naval Defense Campus with an investment of $11 million for the purpose of high-tech manufacturing, repair and test facility for US Navy programs.|
|4||February 2021||CFM||Scandinavian Airlines(SAS) has selected CFM International in order to expand its fleet for powering 35 additional A320neo family aircraft.|
MRO segment accounts for much higher revenue for many engine suppliers as compared to OE segment. For example, MTU Aero Engines AG had a record year in revenue in 2019 at $5.1 Billion (+2% YOY) and MRO share was more than 58%.
CFM International received orders for 2,148 engines in 2019 worth $30.7 Billion U.S, including 180 CFM56 engines (commercial, military and spares) and 1,968 LEAP engines (including spares).LEAP engine by CFM has proved to be extremely popular ever since its launch in 2011, generating more than $270 Billion in Revenue through 2019 for the company.
Lycoming, among the biggest piston engine aircraft engine manufacturer, introduced its Integrated Electronic Engine (iE2), which is the company’s new Federal Aviation Administration (FAA) certified electronically controlled piston engine. Textron Aviation is also working with Lycoming on integrating Lycoming EIS into a new Cessna aircraft.
GE, the market leader in turbofan engines has produced more than 13,000 J85 engines till April 2020 in past 61 years. It powers military aircraft like T-38, F-5, T-2C, and A-37B.
RollsRoyce decided to axe 8,000 jobs in March 2020, after its two biggest customers, Airbus and Boeing decided to slash production by 35% and 50% respectively keeping in mind the impact of Coronavirus on aviation market.
AIRCRAFT ENGINES MARKET COMPANY PROFILES
- General Electric
- CFM International
- Rolls Royce
- MTU Aero Engines
- Japanese Aero Engine Corporation
- Lycoming Engines
- Continental Aerospace Technologies
- RED aircraft GmbH
THIS AIRCRAFT ENGINES MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS
- Aircraft Engines Market size and Forecast, by region, by application
- Average B-2-B price for Aircraft Engines Market, by region, per user
- Technology trends and related opportunity for new Aircraft Engines Market tech suppliers
- Aircraft Engines Market share of leading vendors, by region,
- Coronavirus impact on Aircraft Engines Market earnings