Global Aircraft Turbofan Engine Market Assessment, By Thrust Class [Low Thrust, Medium Thrust, High Thrust], By Aircraft Type [Narrow-body Aircraft, Wide-body Aircraft, Business Jets], By Technology [Geared Turbofan, High Bypass Turbofan, Ultra-High Bypass Engines], By Region, Opportunities and Forecast, 2018-2032F

Global aircraft turbofan engine market is projected to witness a CAGR of 5.12% during the forecast period 2025-2032, growing from USD 54.63 billion in 2024 to USD 81.45 billion in 2032. 

Global Aircraft Turbofan Engine Market Size, Share, Trends & Forecast 2032

Global aircraft turbofan engine market is projected to witness a CAGR of 5.12% during the forecast period 2025-2032, growing from USD 54.63 billion in 2024 to USD 81.45 billion in 2032. The development of the aircraft turbofan engine market continues at a steady pace as the aviation industry makes efforts to enhance fuel efficiency alongside reduced emissions and improved propulsion capabilities. Modern advances in geared turbofans, combined with ultra-high bypass ratio systems, enhance engine thrust and improve environmental standards for use in commercial and military aircraft fleets. The application of lightweight materials, together with digital engine health monitoring systems, improves both lifecycle performance and maintenance operations. The market faces pressure from increasing passenger air travel numbers, as well as fleet renewal programs and environmental sustainability requirements. Additionally, the market shows robust prospects because manufacturers are dedicating their resources to developing hybrid-electric propulsion systems, along with advanced aerodynamics and next-generation engine architectures, that fulfill worldwide aviation operational requirements.
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Report Attribute
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Details
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Base Year
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2024
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Forecast Period
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2025-2032F
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Historical Period
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2018-2023
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Projected Growth Rate
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CAGR of 5.12% between 2024 and 2032
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Revenue Forecast in 2032
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USD 81.45 billion
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For instance, in June 2025, Turkish Aerospace Industries Inc. (TUSAŞ) moved toward the final full development of a domestically developed engine for the fifth-generation KAAN fighter jet, with a current target date of 2032. The TRMotor Power Systems Inc. is working in conjunction with TUSAŞ Engine Industries Inc. (TEI) on the TF35000 turbofan engine. The conceptual design development is close to completion, and to begin prototyping by the end of the year.
<h2>Defense Sector Expansion Fuels Global Aircraft Turbofan Engine Market Growth</h2>
Defense industry expansion creates substantial growth for the aircraft turbofan engine market through investments in advanced military aircraft and propulsion systems. The industry experiences a growth because the high-thrust engines need to deliver fuel efficiency while serving advanced combat and surveillance, and transport applications. The defense sector pursues its modernization targets through technological progress in engine design, which includes geared turbofans and high-bypass ratios, and hybrid-electric capabilities. The defense industry's increased research funding enables faster implementation of lightweight materials along with systems that provide digital health monitoring. Technological developments enhance turbofan engines to deliver improved operational readiness and extended defense capabilities.
For instance, in June 2025, ATR and Pratt &amp; Whitney Canada (RTX Corporation) announced a collaboration to develop advanced propulsion technologies for next-generation regional turboprop aircraft. The partnership focuses on enhancing fuel efficiency, reducing emissions, and exploring hybrid-electric propulsion as part of ATR&rsquo;s &ldquo;EVO&rdquo; concept. These technologies can inform next-generation turbofan designs by enhancing fuel efficiency, reducing emissions, and optimizing engine-airframe integration.
<h2>Technological Innovations Propel Global Aircraft Turbofan Engine Market Expansion</h2>
Modern technological developments are transforming the turbofan engine industry through enhanced fuel efficiency and reduced emissions and enhanced operational dependability. High-bypass ratio designs, together with geared turbofan systems and hybrid-electric propulsion systems, enable more sustainable and quieter flight operations. The combination of lightweight composite materials with additive manufacturing and AI-powered engine health monitoring creates simplified production processes and better maintenance outcomes, and improved performance metrics. Technological advancements address the worldwide aviation requirements for sustainable practices, together with cost-saving operations. The increasing need for advanced aircraft drives innovations to succeed in environmental targets while establishing turbofan engines as essential components for commercial and military aviation operations.
For instance, in June 2025, GE Aerospace and Kratos Defense &amp; Security Solutions partnered to develop compact, high-performance jet engines including GEK800 and GEK1500, for reusable unmanned combat aircraft. The collaboration marks a significant step in advancing modern propulsion systems, emphasizing affordability, adaptability, and scalability for future aerial combat platforms.
<h2>Narrow Body Aircraft Dominates Global Aircraft Turbofan Engine Market Share</h2>
Narrow-body aircraft are becoming the principal source of growth in the global aircraft turbofan engine market, as demand increases for fuel-efficient, single-aisle jets operating in the short- and medium-haul markets. The market is also benefiting from fleet modernization, especially in Asia-Pacific and North America, with new non-scheduled low-cost carriers and the emergence, growth, or expansion of regional airlines. Typically, the next-generation narrow-body platforms with advanced turbofan engines will emit lower levels of pollutants and generate lower levels of noise while being more economical to operate. Technologies include high-bypass ratio engines and digital engine monitoring. As air travel returns and sustainability continues to be a major priority, narrow-body aircraft and their requirements are driving the future direction of turbofan engine development.
For instance, in May 2025, the Beijing Institute of Aeronautical Materials, under Aero Engine Corporation of China (AECC), developed a next-generation self-cooling turbine blade. Co-developed with Handan Xinxing Special Steel Pipes Company, the blade withstands 15% higher temperatures, enhancing thrust, fuel efficiency, and engine longevity. This innovation supports China&rsquo;s aviation self-reliance and advances military and civilian jet engine capabilities.
Asia-Pacific&nbsp;Dominates the Aircraft Turbofan Engine Market Size
The aircraft turbofan engine market will continue its expansion in the Asia-Pacific due to continued fleet growth, passenger traffic growth, and investment in aviation infrastructure. Nations such as China, India, and Japan are embracing next-generation aircraft with fuel-efficient and low-emission turbofan engines as the foundation for their capabilities. Government programs and indigenous engine development programs are enhancing regional aspects of modernization. The resurgence of the narrow-body aircraft and the growth of low-cost carriers direct a rise in the demand for sustainable propulsion systems, locking the regional advantage. Demand and supply-side circumstances reflect an emphasis on developing innovations aimed at environmental compliance and operational efficiency, which demonstrate how this region plays a global role in developing turbofan engine technologies for both commercial and military aviation.
For instance, in May 2025, Honeywell International Inc. proposed its advanced F124 turbofan engine for Japan&rsquo;s next-generation defense programs. The engine is being considered for the replacement of the Kawasaki T-4 trainer and the future Collaborative Combat Aircraft (CCA) initiative. This move strengthens Honeywell&rsquo;s role in Japan&rsquo;s defense modernization and propulsion technology landscape.
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Impact of U.S. Tariffs on Global Aircraft Turbofan Engine Market
U.S. tariffs imposed on aerospace raw materials and other components are reshaping the global aircraft turbofan engine market by pushing up production costs and disrupting international supply chains. This trade action changes the flow of key raw materials and specialized parts. Local sourcing initiatives develop out of disruptions in manufacturing, as well as mounting lead times and overall costs to procure decent parts. All aircraft engine production is complex, and the interrelated and globally sourced components do hinder any effort to localize sourcing in the short and long term due to the investment and regulatory barriers. In the longer term, the aviation industry is more likely to seek strategies to regionalize or diversify supply chains and search for ways to source exempt from tariffs.
Report Scope
&ldquo;Global Aircraft Turbofan Engine Market Assessment, Opportunities and Forecast, 2018-2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global aircraft turbofan engine market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Segments Covered
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Thrust Class, Aircraft Type, Technology
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profiled
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IHI Corporation, CFM International, Rolls-Royce Holdings plc, Pratt &amp; Whitney (RTX Corporation), The General Electric Company, Safran Group, MTU Aero Engines AG, PowerJet S.A., Kawasaki Heavy Industries, Ltd., Aero Engine Corporation of China (AECC)
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report, the&nbsp;global aircraft turbofan engine market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Thrust Class
<ul>
<li>Low Thrust (&lt;20,000 lbf)</li>
<li>Medium Thrust (20,000-40,000 lbf)</li>
<li>High Thrust (&gt;40,000 lbf)</li>
</ul>
</li>
<li>By Aircraft Type
<ul>
<li>Narrow-body Aircraft</li>
<li>Wide-body Aircraft</li>
<li>Business Jets</li>
</ul>
</li>
<li>By Technology
<ul>
<li>Geared Turbofan</li>
<li>High Bypass Turbofan</li>
<li>Ultra-High Bypass Engines</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global aircraft turbofan engine market is changing rapidly due to technological advancements, sustainability aspirations, and changing geopolitical and economic frameworks. The top proponents are looking for advanced propulsion systems (hybrid-electric and gas turbine, high-bypass rate engines) to meet rising operational efficiency and environmental standards. Companies are improving efficiency via strategic partnerships, digital engineering practices, and additive manufacturing techniques to lower total development time, reduce life-cycle costs, and support multiple programs in parallel. Regional manufacturing has gained traction as indigenous programs and joint ventures have created new market entrants and producers, thus increasing diverse levels of competition in the segment. As demand for next-generation commercial and defense aircraft increases, the outlook for the turbofan market is strong as innovation, responsiveness, and collaboration will collectively drive continued growth in this sector.
For instance, in February 2025, Hindustan Aeronautics Limited (HAL) and Safran Aircraft Engines signed a long-term agreement to co-produce forged turbine parts for the LEAP engine program, reinforcing their strategic partnership under India&rsquo;s &ldquo;Make in India&rdquo; initiative.
Key Players Operating in Global Aircraft Turbofan Engine Market are:
<ul>
<li>IHI Corporation</li>
<li>CFM International</li>
<li>Rolls-Royce Holdings plc</li>
<li>Pratt &amp; Whitney (RTX Corporation)</li>
<li>The General Electric Company</li>
<li>Safran Group</li>
<li>MTU Aero Engines AG</li>
<li>PowerJet S.A.</li>
<li>Kawasaki Heavy Industries, Ltd.</li>
<li>Aero Engine Corporation of China (AECC)</li>
</ul>
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Global Aircraft Turbofan Engine Market Assessment, Opportunities and Forecast, 2018-2032F

The aircraft turbofan engine market is evolving with rising demand for fuel-efficient, low-emission propulsion systems, driven by fleet modernization, sustainability goals, and advancements in materials, aerodynamics, and digital engine health monitoring technologies.

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