London, 06 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global commercial aircraft gas turbine engine market 2015-2019, which is expected to grow at a CAGR of 5.85% during the period 2014-2019.
“Aircraft engine manufacturers are now trying to capture more market share in the lucrative engine aftermarket parts business,” says Faisal Ghaus, Vice President of Technavio.
“Manufacturers are employing to achieve this aim is the introduction of total care programs, which include an integrated core set of services covering key aspects of component management and maintenance that can be combined with a range of optional services tailored to an individual customer’s requirements. This involves the extensive use of the respective aircraft parts.”
Key Market Drivers
- Aircraft Fleet Growth and New Aircraft Models
- Demand for Improved Aircraft Gas Turbine Engines
- Growth in PMA Strength
Key Market Trends
- Increase in M&A Activities
- Introduction of Total Care Programs
- New Engine Developments
Key Market Vendors
- CFM International
- General Electric (GE)
- Pratt & Whitney Division
- Rolls-Royce plc
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
