Connect with us
European Gaming Congress 2024

Artificial Intelligence

Aircraft Engine Market Size Worth USD 227,502.3 Million By 2032, Revenue Growth at 9.67% CAGR– Report by Quince Market Insights

Published

on

<!– Name:DistributionId Value:8810176 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:1350 –> <!– Name:CustomerId Value:1211767 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:21974d0e-5ed5-4d9b-8ce4-eeb68d3f8c90 –>

Pune, April 18, 2023 (GLOBE NEWSWIRE) — According to a recent market study by Quince Market Insights, the Global Aircraft Engine Market Size was valued at USD 90,431.9 million in 2022, and is projected to exhibit a CAGR of 9.67% during the forecast period. An aircraft engine is a component of a propulsion system that produces mechanical power. Gas turbines or light piston engines may power aircraft. An aircraft engine is an accessory, other than propellers, which is used in an aircraft.

The growth of the aircraft engine can be attributed to an increase in air passenger traffic during the forecast period. Domestic airlines carried around 70 lakh passengers during that time before gradually resuming operations after a two-month hiatus. As of 2020, the overall number of passengers flying had increased by 19%. Some airlines are replacing the existing fleets with new planes to keep up with the increase in air traffic, which raises the demand for new engines. According to the International Air Transport Association, there will be 8.2 billion travellers globally by 2037. As a result of the increase in air travel, the aircraft engine market is expected to grow.

Download Sample PDF Brochure of Medical Gas Instrument Market Size and Global Analysis with Strategic Insights at: https://www.quincemarketinsights.com/request-sample-10004

Some Significant Market Developments Considered in The Report:

Advertisement
  • July 2022 – Safran Group, a French multinational firm, has decided to open MRO facility in Hyderabad. The Safran Group designs, develops, and manufactures rocket engines as well as several pieces of equipment for the aerospace and defense industries. It will make an initial investment of USD 150 million.
  • July 2022- Safran has made plans to invest about USD 305 million (300 million Euros) in India.
  • April 2021, IHI Corporation has signed the technical collaboration agreement with AVL List GmbH regarding electric turbocharger for fuel cell system.
  • January 2021 – GE and Safran are creating cleaner energy aircraft engines that could function with hydrogen and hybrid technologies.

COVID-19 Impact on the Global Aircraft Engine Market

As per the QMI team, the demand for a global aircraft engines has been moderate from the COVID-19 pandemic time. It is anticipated to grow sharply during the analysis period.

The COVID-19 and subsequent lockdowns have harmed the aircraft industry. According to the International Air Transport Association, more than 2 billion people use aircraft as their major mode of transportation each year (IATA). The global air traffic decreased by over 60% in 2020 due to spread of the COVID-19 epidemic. A handful of companies implemented policies that limit non-essential travel to protect their staff. Supply chains have become more sophisticated and important to the competitiveness of many organizations, and remote and flexible working arrangements have been considered.

Military contracts, on the other hand, are unlikely to be affected. While the impacts of the pandemic on domestic and international travel are expected to endure long after the epidemic, the long-term impact of COVID-19 on the growth of the aircraft engine market will most likely be minimal. Nevertheless, because they are so linked and worldwide, they are more vulnerable to a wide range of risks, with more potential sites of failure and less room for error to account for delays and interruptions.

New supply chain technologies have the potential to considerably expand visibility across the whole supply chain, enable increased supply chain agility, and boost supply chain resilience—all while avoiding the normal overhead associated with risk management methods. The COVID-19 has also spurred enterprises to implement digital solutions for fleet efficiency and remote working. OEMs and aircraft manufacturers, for example, are implementing AI for real-time analytics, intelligent scheduling, predictive maintenance, and performance enhancement. The US Air Force fleet and commercial aircraft carrier enterprises are integrating technologies like artificial intelligence (AI) from companies such as C3 AI and Honeywell International Inc. to offer data for timely repair.

Global Aircraft Engine Market Analysis by Region

Advertisement

Based on region, the global aircraft engine market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Among these, Asia Pacific is expected to grow at the highest rate during the forecast period.

Inquiry Before Buying: https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-10004

Some Major Findings of the Global Aircraft Engine Market Report Include:

  • Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries. An in-depth global aircraft engine market analysis by the segments, along with an analysis of trend-based insights and factors profiles of major market players operating in the market, which include General Electric Company (US), Rolls-Royce Plc (UK), Collins Aerospace (US), Safran SA (France), Honeywell International, Inc (US), UEC Aviadvigatel (Russia), IHI Corporation (Japan), Engine Alliance LLC (US), Textron Inc (US), International Aero Engines (US), MTU Aero Engines (Germany), Pratt and Whitney (US), and Barnes Group Inc (US)
  • Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
  • Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global aircraft engine market
  • Impact of COVID-19 on the global aircraft engine market

Leading Companies & Their Analysis

The market is highly competitive due to the presence of several small and large players. Companies are focusing on strategic collaborations, mergers, and acquisitions to increase their market share and expand their geographical reach. The increasing focus on providing customized solutions to meet the specific needs of customers is also driving the growth of the aircraft engine market. Some prominent players in the global aircraft engine market include:.

  • General Electric Company (US)
  • Rolls-Royce Plc (UK)
  • Collins Aerospace (US)
  • Safran SA (France)
  • Honeywell International, Inc (US)
  • UEC Aviadvigatel (Russia)
  • IHI Corporation (Japan)
  • Engine Alliance LLC (US)
  • Textron Inc (US)
  • International Aero Engines (US)
  • MTU Aero Engines (Germany)
  • Pratt & Whitney (US)
  • Barnes Group Inc (US)

Market Segmentation

  • By Type (Revenue, USD Million, –2019-2032)
    • Turbine/Non-Piston Engine
    • Turboprop
    • Turbofan
    • Turboshaft
      • Piston Engine
    • Straight or In-Line Piston Engine
    • Rotary Piston Engines
    • V-Type Piston Engine
    • Radical Piston Engine
    • Horizontally Opposed Piston Engine
  • By Platform (Revenue, USD Million, 2019-2032)
    • Fixed Wings
    • Rotary Wings
    • UAV
  • By Component (Revenue, USD Million, 2019-2032)
    • Compressor
    • Turbine
    • Gear Box
    • Exhaust Nozzle
    • Fuel System
    • Fuel Tank
    • Fuel Pump
    • Fuel Filter
    • Fuel Gauge
    • Fuel Line
    • Fuel Injector
    • Electric Control Unit
  • By Technology (Revenue, USD Million, 2019-2032)
    • Conventional Engine
    • Electric/Hybrid Engine
  • Regional Outlook (Revenue, USD Million, 2019-2032)
    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • South Korea
      • Rest of Asia Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East & Africa
      • UAE
      • South Africa
      • Rest of Middle East & Africa

Purchase This Premium Report: https://www.quincemarketinsights.com/insight/buy-now/aircraft-engines-market/smart_report_license

Browse Related Reports:

Advertisement

About Quince Market Insights

Quince Market Insights has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world’s most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.
Contact:
Quince Market Insights
Pune, Maharashtra 411028
Phone: APAC +91 706 672 4848 / US +1 208 405 2835 / UK +44 1444 39 0986
Follow US On TwitterLinkedIn

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Kazakhstan Government Delegation Visited SUPCON

Published

on

kazakhstan-government-delegation-visited-supcon

HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.

The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
Photo – https://mma.prnewswire.com/media/2518470/image_5022684_18905906.jpg Photo – https://mma.prnewswire.com/media/2518471/1.jpg

View original content:https://www.prnewswire.co.uk/news-releases/kazakhstan-government-delegation-visited-supcon-302261857.html

Continue Reading

Artificial Intelligence

Huawei Peer-Recognized as a 2024 Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure

Published

on

huawei-peer-recognized-as-a-2024-gartner-peer-insights™-customers’-choice-for-enterprise-wired-and-wireless-lan-infrastructure

SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — On September 24, 2024, Huawei announced that it has been peer-recognized a 2024 Gartner® Peer Insights™ Customers’ Choice in the Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure thanks to its Xinghe Intelligent Campus offerings. This marks the fifth year in a row that Huawei has received this distinction. Notably, Huawei receives Customers’ Choice distinctions in four of the six customer segments: Midsize Enterprise (50M – 1B USD); Public Sector, Government and Education; Asia/Pacific; and Europe, the Middle East and Africa.

As of June 30, 2024, customers across diverse sectors — including manufacturing, IT services, education, and telecommunication — have reviewed Huawei’s complete Xinghe Intelligent Campus offerings on the Gartner Peer Insights platform. We believe their impressive feedback showed global recognition of Huawei from the industry influence, deployment scales, and mature commercial use perspectives.
“We’re thrilled to be named a Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure again,” said Shawn Zhao, President of Huawei’s Campus Network Domain. “Recently, Huawei launched the newly upgraded Xinghe Intelligent Campus that takes wireless, application, and O&M experience to new levels with AI technologies, ultimately accelerating the digital transformation of enterprises.”
Looking ahead, Huawei will further innovate Xinghe Intelligent Campus offerings from wireless, application, and O&M experience upgrade perspectives, helping all industries stride to the future of experience-centric intelligent campus networks.
For more about Gartner® Peer Insights™ Customers’ Choice, visit: https://www.gartner.com/reviews/market/enterprise-wired-wireless-lan-access-infrastructure 
Disclaimer:
Gartner, Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure, Peer Contributors, 12 September 2024
Gartner, Peer Insights, Magic Quadrant and Customers’ Choice badge are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Photo – https://mma.prnewswire.com/media/2518425/image.jpg

View original content:https://www.prnewswire.co.uk/news-releases/huawei-peer-recognized-as-a-2024-gartner-peer-insights-customers-choice-for-enterprise-wired-and-wireless-lan-infrastructure-302261856.html

Continue Reading

Artificial Intelligence

Huawei Wen Tong: 6G Needs to Embrace AI for Shaping Future Network

Published

on

huawei-wen-tong:-6g-needs-to-embrace-ai-for-shaping-future-network

SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — At the 6G Conference held in Istanbul, on September 24, 2024, Dr. Wen Tong, Huawei Wireless CTO, delivered a keynote speech on 6G standardization and innovation. With the release of the ITU-R 6G vision framework, the 3GPP will start 6G standardization in 2025. “6G is a new generation of mobile technology, not a simple upgrade of 5G, it should bring new value to users,” said Dr. Tong, “6G is a true intergenerational technological disruption. 6G standard, key technologies, and network architecture should be re-defined based on application scenarios and requirements from 2030 to 2040. 6G should not be another way to implement 5G. Instead, 6G should embrace the AI revolution with a quantum leap and generate new values for the consumers. In this way, 3GPP standards can truly realize the 6G vision and create greater value for the entire industry.”

Centered “6G Standardization Direction” and “6G Innovation Driving Force”, Dr. Tong shared important views on the future architecture, terminal development, and key technologies of 6G.
In terms of architecture design, 6G should go beyond Service-Based Architecture and move towards Application-Driven Network.
5G has already achieved market success and continues to evolve towards 5G-Advanced. 6G will not simply reuse 5G network architecture, without generational and fundamental innovations, which will limit the mobile industry’s aspiration and imagination to dive the innovation in the 6G era. 6G must have obvious cross-generational characteristics and technical breakpoint.
On the core side, reusing the 5G core network will hinder the innovation in AI. We should use Agentic-AI based technology to re-architect 6G Core that goes beyond 5G Service-Based Architecture and support the foundational capabilities of AI, Sensing and NTN , and thus evolve towards the Application Driven Network .
In terms of terminal evolution, 6G user device calls for a breakthrough to lead the success of the entire industry chain.
It is the law of the mobile industry to drive the evolution of the market with the pioneering technology. The 6G networks and 6G terminals must meet the requirements of consumers and vertical industries in the 6G market phase from 2030 to 2040.
Currently, smartphones are evolving to AI terminals to usher in the mobile AI era. In post-MBB era, breakthroughs in terminal technologies will be the key to the evolution of the mobile industry. Therefore, 6G user device calls for a breakthrough towards “Full-AI”, thus to drive 6G network upgrade and the success of the entire industry ecosystem.
In terms of technology development, AI will become a key enabler for 6G with network paradigm shifting.
Twenty years ago, the Internet was the enabler of the technology innovations. Mobile communications embraced the Internet and achieved great business success. Today, AI maybe the disruptive enabler of the latest technology innovations.
6G should embrace the AI revolution with a quantum leap. However, 6G networks should not be limited to generative AI, Artificial General Intelligence (AGI) and Embodiment-AI are the main directions of future AI development. Therefore, AGI should run through the whole process of sensing, reasoning, decision, and action of terminals, wireless networks, and core networks of 6G, to welcome the arrival of a new network paradigm.
At the end, Dr. Tong Wen emphasized the relationship between 5G and 6G: “The global 5G deployment is on the rise and evolving to 5G-Advanced, which not only meets the current requirements of operators, but also protects their investment. Therefore, 6G technologies should not overlap with 5G in technologies and market space. The specifications, technologies, and architecture of 6G must be based on the scenarios and requirements from 2030 to 2040. We should focus on true generational technology disruption, embrace the new opportunities brought by AI, expand the mobile industry in the next generation.”
Photo – https://mma.prnewswire.com/media/2518236/Huawei_Wireless_CTO_Tong_Wen_Gave_Keynote_Speech_at_6G_Conference_at_Istanbul__T_rkiye.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/huawei-wen-tong-6g-needs-to-embrace-ai-for-shaping-future-network-302261758.html

Continue Reading

Trending