As per Intent Market Research, the Aircraft Propulsion System Market was valued at USD 5.7 billion in 2024-e and will surpass USD 10.3 billion by 2030; growing at a CAGR of 10.4% during 2025 - 2030.
The aircraft propulsion system market plays a crucial role in the aviation and aerospace sectors, as it encompasses the technology that powers aircraft, enabling them to operate efficiently and safely. Propulsion systems are fundamental to the functioning of various types of aircraft, including commercial, military, and general aviation, as well as unmanned aerial vehicles (UAVs) and spacecraft. The market is evolving rapidly with advancements in fuel efficiency, environmental sustainability, and propulsion technology. Technological innovations in propulsion systems are a key driving factor, as the demand for high-performance, eco-friendly, and cost-efficient engines increases.
The market is divided into several segments, such as propulsion type, fuel type, end-user, and platform, each contributing to the growth of the overall sector. These segments reflect the diversity of propulsion systems used across different types of aircraft, from commercial airliners to military jets and UAVs. With ongoing advancements in fuel alternatives and more sustainable technologies, the aircraft propulsion system market is expected to grow significantly in the coming years.
Turbofan Engines Dominate the Market Due to Their Efficiency in Commercial Aviation
The turbofan engine segment holds the largest market share, as turbofan engines are the most commonly used propulsion systems in commercial aviation. These engines are favored for their efficiency and ability to provide high thrust while maintaining low fuel consumption, making them ideal for long-haul flights. Turbofan engines work by drawing in air through the front fan, compressing and mixing it with fuel, then igniting the mixture in a combustion chamber, producing thrust. This design minimizes noise and fuel consumption, making turbofan engines highly effective for commercial airliners.
As airlines continue to prioritize fuel efficiency and environmental sustainability, the demand for more advanced and quieter turbofan engines is expected to increase. Manufacturers are focusing on developing engines that deliver improved fuel performance, reduced emissions, and lower operating costs, ensuring that turbofan engines will continue to dominate the commercial aviation sector.
Emerging Fuel Types: Biofuels and Hydrogen Fuel Gain Traction for Sustainable Aviation
The fuel type segment is witnessing a notable shift toward more sustainable alternatives, with biofuels and hydrogen fuel gaining significant traction. Jet fuel has long been the standard fuel for aircraft propulsion, but the growing need for greener and more environmentally friendly aviation solutions is driving the adoption of biofuels and hydrogen fuel. Biofuels, derived from renewable sources such as plant oils or algae, offer a lower carbon footprint compared to traditional jet fuel. Similarly, hydrogen fuel is seen as a potential solution for achieving carbon-neutral aviation, as it produces only water vapor as a byproduct when burned.
These alternative fuels are being explored as part of efforts to reduce the aviation industry's environmental impact. Although hydrogen fuel is still in the early stages of development for aviation, there is significant investment in hydrogen-powered aircraft engines. The growing interest in sustainable aviation technologies is expected to drive the market for biofuels and hydrogen fuel in the aircraft propulsion system sector.
Commercial Aviation Leads the Market with Increased Air Travel Demand
Commercial aviation is the largest end-user segment of the aircraft propulsion system market, driven by the growing demand for air travel worldwide. With the increase in global population and rising disposable incomes, the need for air transport services continues to surge. This trend is particularly pronounced in emerging markets, where air travel is becoming more accessible to a larger segment of the population. As commercial airlines expand their fleets to meet this demand, they are increasingly turning to more efficient and sustainable propulsion systems to improve fuel economy, reduce emissions, and enhance overall performance.
In addition to the increase in the number of flights, commercial airlines are also investing in the replacement and modernization of aging fleets, which further boosts the demand for advanced propulsion systems. The increasing focus on reducing the environmental impact of aviation, along with the need to cut operational costs, makes the commercial aviation sector a key driver for growth in the aircraft propulsion system market.
Fixed-Wing Aircraft Remains the Dominant Platform for Aircraft Propulsion Systems
Fixed-wing aircraft dominate the platform segment, as they are the most widely used in both commercial and military aviation. Fixed-wing aircraft are highly efficient and can cover long distances at higher speeds, making them ideal for a range of applications, from passenger transportation to cargo delivery and military missions. The design of fixed-wing aircraft, which includes fixed wings that generate lift, requires powerful and efficient propulsion systems to ensure optimal performance.
The demand for propulsion systems in fixed-wing aircraft is primarily driven by the commercial aviation sector, followed by military applications. As the aviation industry continues to expand and innovate, the need for more advanced, fuel-efficient, and environmentally friendly propulsion systems for fixed-wing aircraft will remain high.
Military Aviation and UAVs Experience Growth Due to Advanced Technology and Defense Needs
The military aviation and UAV (Unmanned Aerial Vehicles) segments are also experiencing growth, driven by advances in defense technologies and the increasing use of UAVs in various applications. UAVs, which are typically smaller and more lightweight than traditional manned aircraft, are becoming increasingly popular in both military and commercial sectors due to their ability to conduct surveillance, reconnaissance, and targeted strikes without risking human life. UAVs require specialized propulsion systems that are lightweight, efficient, and capable of sustaining longer flight times.
Similarly, military aviation continues to drive the demand for advanced propulsion systems for fighter jets, bombers, and other defense aircraft. The need for higher performance, stealth, and efficiency in military aircraft is leading to the development of next-generation propulsion systems that meet the specific requirements of defense missions.
North America and Europe Lead the Market with Strong Aerospace Industries
North America and Europe are the leading regions in the aircraft propulsion system market, owing to the presence of major aircraft manufacturers, aerospace contractors, and defense organizations. The United States, in particular, remains a key player in both the commercial and military aviation sectors, with companies like General Electric, Pratt & Whitney, and Rolls-Royce leading the development of advanced propulsion systems. These companies are heavily invested in research and development to produce more efficient, environmentally friendly, and technologically advanced engines for various types of aircraft.
Europe also plays a crucial role in the market, with aerospace giants such as Airbus and Safran contributing to the growth of the propulsion system market. The demand for high-performance propulsion systems in both commercial and military aircraft continues to drive growth in these regions, supported by strong government investments in aviation and defense technologies.
Competitive Landscape and Key Players
The aircraft propulsion system market is highly competitive, with key players focusing on innovation, technological advancements, and sustainable solutions. General Electric, Pratt & Whitney, Rolls-Royce, Honeywell International, Safran, and MTU Aero Engines are some of the leading companies in this market, each working to develop next-generation propulsion systems that offer improved fuel efficiency, reduced emissions, and higher reliability. These companies are engaged in strategic collaborations and partnerships with airlines, aerospace manufacturers, and governments to enhance their market presence and meet the growing demand for advanced propulsion technologies.
List of Leading Companies:
- General Electric Company
- Rolls-Royce Holdings Plc
- Pratt & Whitney (Raytheon Technologies)
- Safran S.A.
- Honeywell International Inc.
- CFM International
- International Aero Engines (IAE)
- United Technologies Corporation (UTC)
- Mitsubishi Heavy Industries, Ltd.
- MTU Aero Engines AG
- GKN Aerospace
- Liebherr Aerospace
- Aero Engine Corporation of China (AECC)
- Aerion Supersonic
- Williams International
Recent Developments:
- In December 2024, Rolls-Royce launched a new turbofan engine designed for next-generation commercial aircraft.
- In November 2024, Pratt & Whitney secured a contract to supply turbofan engines for military fighter jets.
- In October 2024, Safran announced the development of a hybrid-electric propulsion system for small aircraft.
- In September 2024, General Electric introduced a new hydrogen fuel-compatible propulsion system for commercial aviation.
- In August 2024, Honeywell unveiled a new advanced propulsion system for UAVs, designed for enhanced fuel efficiency.
Report Scope:
Report Features |
Description |
Market Size (2024-e) |
USD 5.7 billion |
Forecasted Value (2030) |
USD 10.3 billion |
CAGR (2025 – 2030) |
10.4% |
Base Year for Estimation |
2024-e |
Historic Year |
2023 |
Forecast Period |
2025 – 2030 |
Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
Segments Covered |
Aircraft Propulsion System Market By Propulsion Type (Turbofan Engines, Turboprop Engines, Turbojet Engines, Piston Engines), By Fuel Type (Jet Fuel, Biofuels, Aviation Gas Turbine Fuel, Hydrogen Fuel), By End-User (Commercial Aviation, Military Aviation, Business & General Aviation, Aerospace & Defense Contractors), By Platform (Fixed-Wing Aircraft, Rotary-Wing Aircraft (Helicopters), UAVs, Spacecraft) |
Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
Major Companies |
General Electric Company, Rolls-Royce Holdings Plc, Pratt & Whitney (Raytheon Technologies), Safran S.A., Honeywell International Inc., CFM International, International Aero Engines (IAE), United Technologies Corporation (UTC), Mitsubishi Heavy Industries, Ltd., MTU Aero Engines AG, GKN Aerospace, Liebherr Aerospace, Aero Engine Corporation of China (AECC), Aerion Supersonic, Williams International |
Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
Frequently Asked Questions
1. Introduction |
1.1. Market Definition |
1.2. Scope of the Study |
1.3. Research Assumptions |
1.4. Study Limitations |
2. Research Methodology |
2.1. Research Approach |
2.1.1. Top-Down Method |
2.1.2. Bottom-Up Method |
2.1.3. Factor Impact Analysis |
2.2. Insights & Data Collection Process |
2.2.1. Secondary Research |
2.2.2. Primary Research |
2.3. Data Mining Process |
2.3.1. Data Analysis |
2.3.2. Data Validation and Revalidation |
2.3.3. Data Triangulation |
3. Executive Summary |
3.1. Major Markets & Segments |
3.2. Highest Growing Regions and Respective Countries |
3.3. Impact of Growth Drivers & Inhibitors |
3.4. Regulatory Overview by Country |
4. Aircraft Propulsion System Market, by Propulsion Type (Market Size & Forecast: USD Million, 2023 – 2030) |
4.1. Turbofan Engines |
4.2. Turboprop Engines |
4.3. Turbojet Engines |
4.4. Piston Engines |
4.5. Others |
5. Aircraft Propulsion System Market, by Fuel Type (Market Size & Forecast: USD Million, 2023 – 2030) |
5.1. Jet Fuel |
5.2. Biofuels |
5.3. Aviation Gas Turbine Fuel |
5.4. Hydrogen Fuel |
5.5. Others |
6. Aircraft Propulsion System Market, by End-User (Market Size & Forecast: USD Million, 2023 – 2030) |
6.1. Commercial Aviation |
6.2. Military Aviation |
6.3. Business & General Aviation |
6.4. Aerospace & Defense Contractors |
6.5. Others |
7. Aircraft Propulsion System Market, by Platform (Market Size & Forecast: USD Million, 2023 – 2030) |
7.1. Fixed-Wing Aircraft |
7.2. Rotary-Wing Aircraft (Helicopters) |
7.3. UAVs |
7.4. Spacecraft |
7.5. Others |
8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030) |
8.1. Regional Overview |
8.2. North America |
8.2.1. Regional Trends & Growth Drivers |
8.2.2. Barriers & Challenges |
8.2.3. Opportunities |
8.2.4. Factor Impact Analysis |
8.2.5. Technology Trends |
8.2.6. North America Aircraft Propulsion System Market, by Propulsion Type |
8.2.7. North America Aircraft Propulsion System Market, by Fuel Type |
8.2.8. North America Aircraft Propulsion System Market, by End-User |
8.2.9. By Country |
8.2.9.1. US |
8.2.9.1.1. US Aircraft Propulsion System Market, by Propulsion Type |
8.2.9.1.2. US Aircraft Propulsion System Market, by Fuel Type |
8.2.9.1.3. US Aircraft Propulsion System Market, by End-User |
8.2.9.2. Canada |
8.2.9.3. Mexico |
*Similar segmentation will be provided for each region and country |
8.3. Europe |
8.4. Asia-Pacific |
8.5. Latin America |
8.6. Middle East & Africa |
9. Competitive Landscape |
9.1. Overview of the Key Players |
9.2. Competitive Ecosystem |
9.2.1. Level of Fragmentation |
9.2.2. Market Consolidation |
9.2.3. Product Innovation |
9.3. Company Share Analysis |
9.4. Company Benchmarking Matrix |
9.4.1. Strategic Overview |
9.4.2. Product Innovations |
9.5. Start-up Ecosystem |
9.6. Strategic Competitive Insights/ Customer Imperatives |
9.7. ESG Matrix/ Sustainability Matrix |
9.8. Manufacturing Network |
9.8.1. Locations |
9.8.2. Supply Chain and Logistics |
9.8.3. Product Flexibility/Customization |
9.8.4. Digital Transformation and Connectivity |
9.8.5. Environmental and Regulatory Compliance |
9.9. Technology Readiness Level Matrix |
9.10. Technology Maturity Curve |
9.11. Buying Criteria |
10. Company Profiles |
10.1. General Electric Company |
10.1.1. Company Overview |
10.1.2. Company Financials |
10.1.3. Product/Service Portfolio |
10.1.4. Recent Developments |
10.1.5. IMR Analysis |
*Similar information will be provided for other companies |
10.2. Rolls-Royce Holdings Plc |
10.3. Pratt & Whitney (Raytheon Technologies) |
10.4. Safran S.A. |
10.5. Honeywell International Inc. |
10.6. CFM International |
10.7. International Aero Engines (IAE) |
10.8. United Technologies Corporation (UTC) |
10.9. Mitsubishi Heavy Industries, Ltd. |
10.10. MTU Aero Engines AG |
10.11. GKN Aerospace |
10.12. Liebherr Aerospace |
10.13. Aero Engine Corporation of China (AECC) |
10.14. Aerion Supersonic |
10.15. Williams International |
11. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the Aircraft Propulsion System Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Aircraft Propulsion System Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the Aircraft Propulsion System Market ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Aircraft Propulsion System Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.