[Latest] Global Fighter Jet Engine Market Size/Share Worth USD 16.5 Billion by 2032 at a 5.7% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Austin, TX, USA, July 04, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Fighter Jet Engine Market Size, Trends and Insights 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), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand for global Fighter Jet Engine Market size & share was valued at approximately USD 11.3 Billion in 2022 and is expected to reach USD 11.90 Billion in 2023 and is expected to reach a value of around USD 16.5 Billion by 2032, at a compound annual growth rate (CAGR) of about 5.7% during the forecast period 2023 to 2032.”

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Fighter Jet Engine Market: Growth Factors and Dynamics

• Increased Defence Spending: Various countries across the globe are allocating substantial financial resources to bolster their air force capabilities through modernization and expansion efforts. This heightened defence expenditure is driving a significant surge in demand for advanced fighter jet engines, as nations seek to equip their aircraft with cutting-edge propulsion systems.

• Technological Advancements: The relentless pursuit of technological progress continues to be a crucial driver in the growth of the fighter jet engine market. Continuous innovations in the field have resulted in the emergence of next-generation engines featuring noteworthy improvements in key performance metrics, such as higher thrust-to-weight ratios, enhanced fuel efficiency, and superior durability. These technological advancements are fostering the adoption of these advanced engines by military forces around the world.

• Global Security Concerns: In an era marked by escalating geopolitical tensions and an increased focus on national security, the demand for fighter jet engines has witnessed a pronounced upswing. Nations are actively endeavouring to maintain air superiority and fortify their defence capabilities, which necessitates the acquisition of new fighter aircraft powered by state-of-the-art engines. This heightened demand is primarily driven by the imperative to safeguard territorial integrity and respond effectively to evolving security challenges.

• Fleet Replacement and Upgrades: Many countries are undertaking comprehensive fleet modernization initiatives, involving the phased retirement of aging fighter jet fleets and their replacement with technologically advanced aircraft. Concurrently, upgrading existing fighter jets with more potent engines is a prevalent practice to augment their performance and extend their operational lifespan. This dynamic cycle of fleet replacement and upgrades generates a substantial market for fighter jet engines, enabling manufacturers to meet the evolving requirements of armed forces.

• Emerging Market Growth: The defence sectors of emerging economies are witnessing robust growth, driven by factors such as economic development, rising geopolitical influence, and regional security concerns. As a result, there is a significant surge in demand for fighter jet engines in regions like Asia-Pacific and the Middle East, as these countries invest in advanced fighter aircraft to bolster their air power capabilities. This burgeoning demand from emerging markets presents lucrative opportunities for engine manufacturers to expand their market presence and cater to the evolving needs of these nations.

• Collaborations and Partnerships: The fighter jet engine market is characterized by a high degree of collaboration and partnerships among engine manufacturers, defence contractors, and governments. These alliances aim to leverage collective expertise, technological capabilities, and available resources to drive the development of cutting-edge fighter jet engines. Collaborative efforts facilitate the efficient transfer of knowledge, research, and development investments, and streamlined production processes, thereby enabling the creation of innovative propulsion systems and expanding market opportunities for all stakeholders involved.

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Report Scope

(A free sample of the Fighter Jet Engine report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on the Request.
• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated.
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Fighter Jet Engine report has been modified to include the COVID-19 impact study prior to delivery.)

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Fighter Jet Engine Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Fighter Jet Engine Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The COVID-19 pandemic has caused significant disruptions in global supply chains, affecting the production and delivery of fighter jet engines. Restrictions on international trade, temporary shutdowns of manufacturing facilities, and transportation challenges have resulted in delays and bottlenecks in the supply of engine components, impacting the overall production capacity of engine manufacturers.

• Defence Budget Reallocation: The economic impact of the pandemic has compelled many governments to reallocate their defence budgets to address urgent healthcare and economic needs. This has led to potential delays or cancellations of fighter jet procurement programs, directly affecting the demand for fighter jet engines.

• Resumed Production and Supply Chain Optimization: As the pandemic situation improves, fighter jet engine manufacturers are resuming production activities and actively working on optimizing their supply chains. They are implementing measures to enhance resilience and agility, such as diversifying suppliers, adopting digital solutions, and streamlining logistics, to mitigate future disruptions and improve overall supply chain efficiency.

• Accelerated Modernization Efforts: Governments and defence organizations recognize the importance of maintaining robust defence capabilities, even in the aftermath of the pandemic. To compensate for any delays in procurement programs, there is an increased focus on accelerating modernization efforts, including the upgrading of existing fighter jet fleets with advanced engines. This drives the demand for fighter jet engines as countries strive to enhance their combat readiness.

• Increased Defence Spending: Many nations are expected to increase defence spending in the post-pandemic period as they reassess their security needs and prioritize defence capabilities. This renewed focus on military preparedness is likely to generate additional funding for fighter jet engine programs, stimulating market growth.

• International Collaborations and Export Opportunities: Collaboration and partnerships between countries in the defence sector are gaining prominence as nations seek to pool resources and expertise to optimize defence investments. Additionally, export opportunities for fighter jet engines are emerging as countries look to strengthen their defence capabilities and replace aging fleets, presenting new markets for engine manufacturers to explore and expand their customer base.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Fighter Jet Engine Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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List of the prominent players in the Fighter Jet Engine Market:

• 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

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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.

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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

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By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• 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

This Fighter Jet Engine Market Research/Analysis Report Contains Answers to the following Questions.

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Fighter Jet Engine Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Status of the Fighter Jet Engine Market? What Was the Capacity, Production Value, Cost and PROFIT of the Fighter Jet Engine Market?
• What Is the Current Market Status of the Fighter Jet Engine Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Fighter Jet Engine Market by Considering Applications and Types?
• What Are Projections of the Global Fighter Jet Engine Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Fighter Jet Engine Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Fighter Jet Engine Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Fighter Jet Engine Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Fighter Jet Engine Industry?

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Reasons to Purchase Fighter Jet Engine Market Report

• Fighter Jet Engine Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Fighter Jet Engine Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Fighter Jet Engine Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Fighter Jet Engine Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Fighter Jet Engine market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Fighter Jet Engine market analysis.

• The competitive environment of current and potential participants in the Fighter Jet Engine market is covered in the report, as well as those companies' strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Fighter Jet Engine market should find this report useful. The research will be useful to all market participants in the Fighter Jet Engine industry.
• Managers in the Fighter Jet Engine sector are interested in publishing up-to-date and projected data about the worldwide Fighter Jet Engine market.
• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Fighter Jet Engine products' market trends.
• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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