Aircraft Engine Market to Grow at a CAGR of 9.20% During the Forecast Period 2027 | TechSci Research
Rising demand for passenger air travel and growing logistics sector is driving the growth of global aircraft engine market in the forecast period, 2023-2027. According to TechSci Research report, “ Aircraft Engine Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027” . The global aircraft engine market stood at USD96.72 billion in 2021 and is expected to grow at a steady CAGR of 9.02% during the forecast period to reach USD166.81 billion in 2027 on account of rising demand of aircraft engines which are compact sized, light weight and fuel efficient. Furthermore, demand from commercial aviation industry is anticipated to propel the market in the forecast years. An aircraft engine commonly referred as an aero engine is the component of an aircraft propulsion system that is responsible for generating mechanical power. Majority of aircrafts present today are either running on light weight piston en...