In FY 2022, the market for turbofan engines will likely be worth US$ 1.05 billion, up from US$ 988 million in FY 2021. The industry saw a Y-o-Y gain of 6.3 percent over the past year. Sales of turbofan engines are anticipated to grow from 2022 to 2032 at a CAGR of 17.2%, reaching a value of US$ 5.1 billion by the end of that year.
The contemporary version of standard gas turbine engines is turbofan engines. In turbofan engines, the engine core is encircled by a fan at the engine’s front and a second turbine at the engine’s back. Numerous blades make up the fan turbine, and a separate shaft connects them to the fans.
Additionally, compared to other engines like turbojet and turboprop engines, turbofan engines have several advantages. Compared to other engines, turbojet engines are more efficient and operate more quietly. These benefits have led to the usage of turbofan engines in a variety of aircraft. In the commercial sector, business jets and transportation aircraft both use turbofan engines. Turbofan engines are employed in fighter planes and transport aircraft in the military.
Key Players:
- GE Aviation
- Rolls-Royce plc
- United Technologies Corporation – Pratt & Whitney Division
- CFM International
- Engine Alliance LLC
- International Aero Engines
- Williams International
- SE Ivchenko-Progress
- United Engine Corporation
- EURO JET Turbo GmbH
- IHI Corporation
- Safran SA
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