ROCKVILLE, MD -- (Marketwire) -- 09/04/12 -- MarketResearch.com has announced the addition of "Aviation Gas Turbine: The Market for Aviation Turbofan Engines," to their collection of Manufacturing market reports. For more information, visit http://www.marketresearch.com/Forecast-International-v3585/Aviation-Gas-Turbine-Turbofan-Engines-7098250/
At a time when many markets are experiencing difficulty, the market for aviation turbofan engines is poised for steady growth throughout the next decade. Three major aviation sectors comprise this market: airliners of all classes, business jets, and military aircraft, principally fighters. The global airline industry has returned to profitability after several years of financial turmoil. Driving this turnaround has been the growth of passenger and cargo traffic, which had recently softened. Another major driver has been the development of new turbofan variants with significant improvements in specific fuel consumption, which coincided with hikes in the costs of aviation fuel.
These combined factors have resulted in a major re-equipment cycle for the world airline industry, which has spilled over, to some extent, into the business aircraft market. As a direct result, the manufacturers of medium and large turbofans have seen rebounding sales and full order books for both new and existing engines. Spurring this trend was the launch of the Airbus A320neo, which features new technology engines from CFM International and Pratt & Whitney that promise significant reductions in fuel burn and maintenance costs. Meanwhile, Pratt's new engine has been selected for three new aircraft programs from Bombardier, Mitsubishi and Russia's Irkutsk, while CFM's engine was chosen to power a new narrow body from China's COMAC. The wide body turbofan engine market has been represented by General Electric's new GEnx appearing on Boeing's 787 along with Rolls-Royce's Trent 1000.
The Airbus A380, which started slowly but is gaining in orders, is now available with a choice of engine options: either the Rolls-Royce Trent 900 or the GE/P&W Engine Alliance GP7200. The other wide body program in development is Airbus' A350 XWB; Airbus selected Rolls' Trent XWB engine to power all variants. The order books impacting this market now include over 1,260 Airbus A320neos, 550 A350 XWBs, and 243 A380s, while Boeing has solid order books for its 737s and 747s in several variants and has amassed orders for over 820 of its fast selling 787. This study conservatively projects that a total of 73,589 turbofan engines, having a market value of $416.5 billion, will be produced during the next decade.
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