MarketResearchReports.Biz presents this most up-to-date research on “The Global Military Aircraft Engines Market 2016-2026”.
Albany, NY -- (SBWIRE) -- 06/15/2016 -- MarketResearchReports.biz has announced the addition of a recent report, titled 'The Global Military Aircraft Engines Market 2016-2026,' to its online repository. As per the report, the global military aircraft engines market is predicted to reach US$8.7 bn by 2016. Furthermore, the market is anticipated to expand at a 2.60% CAGR from 2016 to 2026, to reach US$11.2 bn by 2026. Factors such as increasing fleet replacement programs, aircraft upgrade projects, and modernization strategies are expected to drive the global military aircraft engines market during the forecast period.
The worldwide geopolitical situation is rapidly changing. With this, many nations are focusing on modernizing their aircraft, including obtaining high-tech and advanced engines. Along with this, emerging economies are witnessing a constant increase in their defense expenditure and thus are expected to present military aircraft engine manufacturers with more opportunities in the years to come. Currently, the global military aircraft engines market is going through many changing trends, which are driving its growth.
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The global military aircraft engines market is segmented on the basis of region and aircraft engine type. By region, the global military aircraft engines market is divided into North America, the Middle East, Latin America, Europe, Asia Pacific, and Africa.
In 2015, the global military aircraft engines market was dominated by Asia Pacific, followed by North America and Europe. In 2015, Asia Pacific accounted for 27.9% of the global military aircraft engines market whereas North America accounted for 27.4%. In the same year, Europe held a share of 26.5% in the global military aircraft engines market. In 2015, The Middle East region accounted for 12.2% of the global military aircraft engines market. In the same year, Latin America and Africa collectively accounted for 6.0% of the global military aircraft engines market.
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Based on aircraft type, the global military aircraft engines market is divided into combat aircraft engines, transport aircraft engines, rotorcraft engines, and others. In 2015, the global military aircraft engines market was led by the combat aircraft engine segment. In 2015, the combat aircraft engine segment accounted for 46.1% of the global military aircraft engines market whereas the others segment held a share of 20.2% in the market. In the same year, the rotorcraft engines segment and the transport aircraft engines segment collectively accounted for 33.6% of the global military aircraft engines market.
Although recent developments and technological advancements are expected to propel the global military aircraft engines market, industry challenges would hamper growth slightly. The entry of new manufacturers of military aircraft engines in the global market is expected to increase the level of competition. However, by adopting new technologies, leading players are expected to introduce high-end military aircraft engines in an effort to maintain their dominance.
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