TechNavio recognizes the following companies as the key players in the Global Commercial Turbofan Engine Market: CFM International S.A. (CFM), IAE International Aero Engines AG (IAE), Pratt and Whitney, General Electric Co. (GE), Rolls-Royce plc (RR), and Engine Alliance (EA).
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”The growth of aerospace composites is expected to drive the Global Commercial Turbofan Engine market in the coming years. The use of composites in the Aerospace industry has been increasing because of the benefits this offers to aircraft manufacturers, which is driving the Global Commercial Turbofan Engine market. The primary benefits that composites offer are reduced weight and assembly simplification compared to the traditional materials for aircraft construction such as steel, aluminum, and titanium. Further, the performance advantages related to reducing the weight of aircraft structural elements has been the major thrust for military aviation composite development. This is because composites weigh about one-fifth of the weight of steel and are better in terms of stiffness and strength.”
According to the report, one of the major growth drivers in the market is the increasing air traffic across the globe. Drivers such as the increase in travel, the growth of international trade, and the decline in airfares are driving the market. Expanding international markets increase traffic on long-haul routes, creating demand for turbofan engines.
Further, the report states that one of the major challenges in this market is the increasing number of regulations being introduced by various governments. Vendors in the Global Commercial Turbofan Engine market have to comply with stringent regulations and if they fail to comply they may be subject to fines and/or remediation expenses. This could result in additional costs that would affect the company’s operations and financial position.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-commercial-turbofan-engine-marke…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Global Commercial Turbofan Engine Market 2012-2016
