Global Fighter Jet Engine Market 2024–2033

Reports Description

As per the current market research conducted by CMI Team, the global Fighter Jet Engine market is expected to record a CAGR of 5.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 11.3 billion. By 2032, the valuation is anticipated to reach USD 16.5 billion.

Top 10 Countries With The Highest Air Force Defence Budget In 2021

Source: Stockholm International Peace Research Institute (SIPRI)

The Fighter Jet Engine market refers to the industry involved in designing, developing, manufacturing, and selling engines specifically for fighter aircraft. It includes military and commercial entities that supply and service these engines for defence organizations worldwide.

This market is highly specialized and advanced, influenced by geopolitical factors and defence budgets. It requires extensive research and collaboration with governments and defence contractors. Key trends driving the market include technological advancements for better fuel efficiency, power-to-weight ratios, and durability.

There is also a shift towards electric propulsion systems to reduce emissions and improve efficiency, driven by sustainability concerns.

Fighter Jet Engine Market – Significant Growth Factors

The Fighter Jet Engine market presents significant growth opportunities due to several factors:

• Increasing Defence Expenditure: The rise in defence budgets across various countries presents a significant market driver, as governments allocate funds to modernize and expand their air force capabilities. This creates opportunities for engine manufacturers to meet the growing demand for advanced Fighter Jet Engines.

• Technological Advancements: Ongoing advancements in engine technologies, such as improved fuel efficiency, higher power output, and enhanced durability, drive market growth. Engine manufacturers can capitalize on these advancements by developing innovative solutions that meet the evolving performance requirements of fighter aircraft.

• Geopolitical Tensions and Security Concerns: Heightened geopolitical tensions and security concerns around the world drive the demand for Fighter Jet Engines. Countries strive to maintain air superiority and strengthen their defence capabilities, creating opportunities for engine manufacturers to supply engines for new aircraft procurement programs.

• Fleet Modernization and Upgrades: The need to replace aging fighter jet fleets and upgrade existing aircraft with advanced engines presents a significant market driver. Engine manufacturers can seize the opportunity by offering retrofit solutions and collaborating with defence organizations to enhance the performance and lifespan of fighter aircraft.

• Emerging Markets: Emerging economies, particularly in regions like Asia-Pacific and the Middle East, are witnessing rapid growth in their defence sectors. This opens up new market opportunities for engine manufacturers as these countries invest in advanced fighter aircraft and seek reliable engine suppliers to support their defence modernization efforts.

• Collaborations and Partnerships: Collaborations between engine manufacturers, defence contractors, and governments play a crucial role in the Fighter Jet Engine market. Strategic partnerships can leverage expertise, resources, and technology sharing, leading to joint research and development efforts and expanded market opportunities.

Fighter Jet Engine Market – Mergers and Acquisitions

The Fighter Jet Engine market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Fighter Jet Engine market include:

• General Electric and Safran: In 2019, General Electric and Safran joined forces to establish a joint venture called CFM International, focusing on commercial aircraft engines. This collaboration aimed to strengthen their position as leading engine suppliers for various aircraft, including fighter jets.

• Pratt & Whitney and Turkish Aerospace Industries: In 2019, Pratt & Whitney signed an agreement with Turkish Aerospace Industries (TAI) to explore collaboration in developing Fighter Jet Engines. The partnership aimed to enhance Turkey’s defence capabilities and advance engine technologies.

• Boeing and Safran: In 2018, Boeing and Safran formed a joint venture called CFM International to develop engines for aircraft. This partnership aimed to combine their expertise and resources to improve engine performance and fuel efficiency.

• Rolls-Royce and Rostec: In 2019, Rolls-Royce and Rostec State Corporation formed a strategic partnership to develop engines for the Russian Chinese CR929 aircraft. This collaboration aimed to meet the increasing demand for advanced engines in the commercial aviation sector.

• Pratt & Whitney and TAI: In 2019, Pratt & Whitney and TAI joined forces to explore opportunities for collaborative development in Fighter Jet Engines. The partnership aimed to combine Pratt & Whitney’s engine expertise with TAI’s defence capabilities, fostering innovation and supporting Turkey’s aerospace industry.

• United Engine Corporation (UEC) and China-Russia Commercial Aircraft International Corporation (CRAIC): In 2019, UEC, a subsidiary of Rostec, and CRAIC signed a cooperation agreement to develop an engine for the jointly produced CR929 wide-body aircraft. This partnership aimed to enhance the technological capabilities of both countries and strengthen their position in the global aerospace market.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Fighter Jet Engine market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Fighter Jet Engine Market – Significant Threats

The Fighter Jet Engine market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Increasing Competitiveness: The Fighter Jet Engine market is highly competitive, with numerous global players vying for contracts and market share. Intense competition poses a threat to existing companies, as they need to continually innovate, invest in research and development, and offer competitive pricing to stay ahead in the market.

• Technological Advances by Competitors: Rapid advancements in engine technologies by competitors can pose a threat to established players in the market. If a competitor introduces a breakthrough engine design or technology, it could disrupt the market dynamics and potentially capture a significant share of contracts and customers.

• Budgetary Constraints: Reductions in defence budgets of various countries can impact the Fighter Jet Engine market. When defence spending is curtailed, it may lead to delays or cancellations of aircraft procurement programs, which directly affects the demand for Fighter Jet Engines.

• Geopolitical Instability: Political and geopolitical tensions can disrupt the market by affecting international trade agreements and collaborations. Trade disputes, sanctions, or changes in diplomatic relations between countries can impact the flow of technology, components, and partnerships, creating uncertainties and challenges for the Fighter Jet Engine market.

Report Scope

Category-Wise Insights

By Type:

• Jet Engines: Jet engines are powerful propulsion systems that generate thrust by expelling fast-moving exhaust gases. In the Fighter Jet Engine market, key trends include improving fuel efficiency, achieving higher power-to-weight ratios, using advanced materials, exploring electric propulsion options, and prioritizing sustainability to reduce emissions and minimize environmental impact.

• Turbine Engines: These are a form of combustion engine that converts fluid energy into mechanical energy. Trends in the Fighter Jet Engine market centre on improving turbine engine technology, such as boosting fuel efficiency, raising power-to-weight ratios, and adding long-lasting and high-performance materials.

• Ramjet Engines: These engines are air-breathing propulsion systems that rely on high-speed airflow for operation. In the Fighter Jet Engine market, the trend revolves around enhancing speed and manoeuvrability, driving the exploration of ramjet engine technology. Advancements in materials, aerodynamics, and fuel efficiency are pursued to optimize the performance of ramjet engines in fighter aircraft.

• Scramjet Engines: Scramjet engines are specialized air-breathing engines designed to propel high-speed vehicles by compressing incoming air before combustion. They eliminate the need for carrying onboard oxidizers. In the Fighter Jet Engine market, there is a growing interest in exploring and developing scramjet engine technology to achieve even higher speeds and enhance performance in hypersonic flight.

By Application:

• Fighter Aircraft: Fighter aircraft are agile military planes designed for air combat. In the Fighter Jet Engine market, trends include advancements in engine performance and efficiency, integration of stealth technology, improved manoeuvrability, and a focus on multi-role capabilities for versatile missions.

• Transport Aircraft: Transport aircraft are used for carrying passengers or cargo. In the Fighter Jet Engine market, trends focus on enhancing fuel efficiency, increasing payload capacity, extending range and endurance, and adopting technologies for quieter and more eco-friendly operations.

• Helicopters: Choppers are vertical take-off and landing aircraft. Trends in the Fighter Jet Engine industry include improvements in engine power and dependability, decreased maintenance requirements, greater fuel efficiency, and the integration of new technology for improved performance, manoeuvrability, and safety.

• Bombers: Bombers are long-range aircraft for strategic bombing missions. In the Fighter Jet Engine market, trends involve developing engines with higher power and range, improved fuel efficiency, stealth capabilities, and the ability to carry various munitions for versatile strike capabilities.

• Reconnaissance Aircraft: Reconnaissance aircraft are used for intelligence gathering and surveillance. In the Fighter Jet Engine market, trends focus on developing engines with extended endurance, enhanced sensors and data processing capabilities, improved fuel efficiency, and reduced radar signature for covert operations.

• Tanker Aircraft: Tanker aircraft provide aerial refuelling capabilities to extend the range and endurance of other aircraft. In the Fighter Jet Engine market, trends include developing engines with higher thrust and fuel efficiency, improved aerial refuelling systems, and advanced technologies for safe and efficient fuel transfer operations.

• Unmanned Aerial Vehicles (UAVs): UAVs, or drones, are remotely piloted or autonomous aircraft. In the Fighter Jet Engine market, trends involve developing lightweight engines with long endurance, improved power-to-weight ratios, advanced control systems, and integration of artificial intelligence for autonomous operations and mission versatility.

By Component:

• Compressor: The compressor is a component in a Fighter Jet Engine that pressurizes and compresses incoming air before entering the combustion chamber. In the market, trends include the development of more efficient and lightweight compressors, often utilizing advanced materials and aerodynamic designs to improve engine performance and fuel efficiency.

• Turbine: The turbine extracts energy from the high-temperature gases produced in the combustion process to drive the compressor and other engine components. In the market, trends include advancements in turbine design, materials, and cooling techniques to increase efficiency, power output, and durability, enabling higher performance and longer engine life.

• Combustor: The combustor is where fuel is mixed with compressed air and ignited, generating high-temperature and high-pressure gases for propulsion. In the Fighter Jet Engine market, trends focus on improving combustion efficiency, reducing emissions, and exploring alternative fuel options to meet stringent environmental regulations and enhance operational capabilities.

• Afterburner: The afterburner is an additional combustion chamber located downstream of the turbine, injecting additional fuel to increase thrust during high-speed operations. In the Fighter Jet Engine market, trends involve optimizing afterburner efficiency and fuel consumption to enhance aircraft acceleration, top speed, and manoeuvrability, while considering the associated increased fuel consumption and exhaust emissions.

• Exhaust Nozzle: The exhaust nozzle directs the flow of hot gases leaving the engine, contributing to thrust, and controlling exhaust characteristics. In the market, trends focus on variable geometry exhaust nozzles, which optimize performance across a wide range of flight conditions, including enhancing manoeuvrability, and stealth capabilities, and reducing infrared signatures. Efforts are also directed towards reducing noise and improving fuel efficiency through nozzle design.

Fighter Jet Engine Market – Regional Analysis

The Fighter Jet Engine market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: The North American market focuses on developing Fighter Jet Engines with improved stealth capabilities to maintain air superiority and counter emerging threats. They also invest in research and development to achieve supersonic and hypersonic speeds for enhanced operational capabilities. Pratt & Whitney, a subsidiary of Raytheon Technologies Corporation, is a leading player known for advanced engine technologies and a strong market presence.

• Europe: Europe emphasizes sustainable aviation by developing Fighter Jet Engines with reduced emissions and improved fuel efficiency to comply with environmental regulations. Collaboration among European countries and various manufacturers and research organizations drives the development of cutting-edge engine technologies. Rolls-Royce Holdings plc, based in the UK, is a major player with high-performance engines and longstanding partnerships with defence organizations.

• Asia-Pacific: The Asia-Pacific region experiences increasing defence budgets, leading to a demand for advanced Fighter Jet Engines to modernize air forces and enhance national security. Countries like China and India focus on indigenous development to reduce reliance on foreign suppliers and strengthen their aerospace industries. Aero Engine Corporation of China (AECC) is a prominent player responsible for developing and manufacturing engines for various military aircraft programs.

• LAMEA: The LAMEA (Latin America, Middle East, and Africa) countries prioritize acquiring advanced Fighter Jet Engines to address regional security challenges and protect their airspace. Military modernization programs in the Middle East and Africa contribute to the increased demand for state-of-the-art Fighter Jet Engines. Israel Aerospace Industries (IAI) is a key player known for its expertise in aerospace technologies and advanced engine production for combat aircraft.

Competitive Landscape – Fighter Jet Engine market

The Fighter Jet Engine market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• Pratt & Whitney (United Technologies Corporation)
• General Electric Aviation (General Electric Company)
• Rolls-Royce Holdings PLC
• Safran Aircraft Engines
• Eurojet Turbo GmbH
• Klimov Design Bureau (United Engine Corporation)
• Honeywell Aerospace
• MTU Aero Engines AG
• Snecma (Safran Group)
• Ishikawajima-Harima Heavy Industries Co. Ltd. (IHI Corporation)
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships. For example, In 2022, General Electric (GE) and Safran announced a partnership to develop and produce the engine for a new military aircraft program.

This collaboration aims to leverage GE’s expertise in engine technology and Safran’s capabilities in aircraft design to deliver a highly advanced and efficient engine solution for the program, enhancing its performance and operational capabilities.

The market is also witnessing the entry of several new players, such as Aero Engine Corporation of China (AECC) and Hindustan Aeronautics Limited (HAL) have adopted innovation and development to enter the Fighter Jet Engine market.

AECC has made significant strides in developing advanced engines for military aircraft programs, leveraging indigenous capabilities to reduce reliance on foreign suppliers.

HAL, based in India, has also ventured into the Fighter Jet Engine market with its indigenous development programs. Key players dominating the market include Rolls-Royce Holdings plc, Pratt & Whitney (a subsidiary of Raytheon Technologies Corporation), and General Electric.

These companies have established themselves as leaders through their extensive experience, strong market presence, and cutting-edge engine technologies. They have secured long-term contracts with defense organizations, maintained strategic partnerships, and consistently delivered high-performance engines that meet the demanding requirements of modern fighter jets.

The Fighter Jet Engine Market is segmented as follows:

By Type

• Jet Engines
• Turbine Engines
• Ramjet Engines
• Scramjet Engines

By Application

• Fighter Aircraft
• Transport Aircraft
• Helicopters
• Bombers
• Reconnaissance Aircraft
• Tanker Aircraft
• Unmanned Aerial Vehicles

By Component

• Compressor
• Combustor
• Turbine
• Afterburner
• Exhaust Nozzle

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America