Aircraft Engine Market

Safran delivered 1,802 LEAP engines in 2025, up 28% from 1,407, and lifted propulsion revenue 14.8% to EUR 15.67 billion, its results of 13 February 2026 show, while Airbus delivered 793 aircraft and still held a backlog of 8,754, its release of 12 January 2026 states. The aircraft engine market covers new turbofan, turboprop and turboshaft engines for airliners, regional and business jets, military aircraft and helicopters, installed or delivered as spares, valued at the price engine makers realise. Douglas Insights sizes it at USD 46.28 billion in 2025, about 10,150 engines at an average USD 4.56 million, rising to USD 88.46 billion in 2035, a 6.69% compound annual growth rate (CAGR). The study sits in our aircraft systems and components coverage, beside the Aircraft Micro Turbine Engine Market, Aircraft Line Maintenance Market and Aircraft Power Distribution System Market reports; every figure follows the Douglas Insights research methodology.

Which aircraft engine class earns most: narrowbody turbofans, widebody or military?

Narrowbody turbofans such as the CFM LEAP and Pratt & Whitney GTF earn 39.8% of 2025 value, about USD 18.42 billion, Douglas Insights estimates. They also grow fastest, 7.4% a year to USD 37.61 billion by 2035.

Narrowbody turbofans lead because the A320neo family and the 737 MAX make up most airliner output: Airbus delivered 607 A320-family jets in 2025 and Boeing 447 737s, the Airbus and Boeing releases of 12 and 13 January 2026 show. Douglas Insights estimates about 2,550 narrowbody engines shipped in 2025, 1,802 LEAPs and about 750 GTFs, at an average USD 7.2 million. Widebody turbofans, USD 11.99 billion, are fewer, about 600 engines, but cost about USD 20 million each; Rolls-Royce delivered 259 large engines in 2025, its results of 26 February 2026 show.

Military turbofans, USD 8.38 billion, cover fighter, trainer, tanker and transport engines, about 700 units at USD 12 million on average, and grow 5.6% a year. Regional and business jet turbofans, USD 3.29 billion, about 1,100 units, grow 5.0%; Rolls-Royce shipped 224 business aviation engines in 2025, against 251 in 2024. Turboshafts, USD 2.41 billion across about 3,200 helicopter engines, and turboprops, USD 1.81 billion across about 2,000 engines, are the volume base for Pratt & Whitney Canada, Safran Helicopter Engines and GE’s Catalyst. Segment values for 2035 sum to USD 88.06 billion, 0.45% below the headline.

What drives aircraft engine demand: airliner ramp-ups, widebody recovery or defence?

Aircraft engine units rise 4.6% a year in our base case, from about 10,150 in 2025 to about 15,900 in 2035. Four drivers add 5.30 points of gross growth; restraints remove 0.70 points.

Narrowbody production ramp-ups: 2.60 points

Airliner ramp-ups are the largest driver, worth 2.60 points. Airbus delivered 547 aircraft in the first nine months of 2026, up from 507, and targets about 870 for the year, its results of 28 October 2026 state, up 10% on 2025’s 793. Boeing delivered 475 aircraft in the first three quarters of 2026, 124 of them 737s in the third quarter alone, its release of 13 October 2026 shows, already 79% of its 600 deliveries in 2025. Safran expects LEAP deliveries to rise by a high-teens percentage in 2026, after 1,565 in the first nine months, up 26%, its release of 23 October 2026 states. Douglas Insights estimates each extra A320neo or 737 MAX a month adds about 30 engines a year, including spares.

Widebody recovery and new types: 1.00 point

Widebody demand adds 1.00 point. Rolls-Royce delivered 157 large engines in the first half of 2026, against 122 a year earlier, and expects 550 to 600 original equipment engine deliveries in total for 2026, its half-year results of 30 July 2026 show. Large-engine flying hours reached 111% of 2019 levels in 2025, its 2025 results state, pulling airlines back to widebody orders. GE Aerospace delivered GE9X engines for the 777X in the third quarter of 2026 and will book their revenue once a mid-seal fix is certified, targeted for the end of 2026, its results update of 20 October 2026 notes. Douglas Insights estimates widebody engine units grow 5.0% a year.

Defence budgets and fighter programmes: 1.10 points

Defence adds 1.10 points. Pratt & Whitney won a USD 6.6 billion definitised contract for F135 Lots 18 and 19 for the F-35, said it had delivered more than 1,400 production F135s and had lifted production rates 20%, RTX’s release of 31 March 2026 states. The US Air Force raised the ceilings of its Next Generation Adaptive Propulsion (NGAP) prototype contracts with GE and Pratt & Whitney from USD 975 million to USD 3.5 billion each, Defense News reported on 28 January 2025. Douglas Insights estimates military engine units grow 3.6% a year as European and Asian air forces add fighters and trainers.

Business jets, turboprops and helicopters: 0.60 points

General aviation adds 0.60 points. Textron Aviation grew 2025 revenue to USD 5.96 billion and delivered 49 jets and 43 commercial turboprops in the fourth quarter, against 32 and 38 a year earlier, its results of 28 January 2026 show. Honeywell Aerospace Technologies, a maker of business jet and auxiliary engines, grew 2025 sales 13% to USD 17.51 billion, its results of 29 January 2026 show. Summed, 2.60 + 1.00 + 1.10 + 0.60 = 5.30 points, a Douglas Insights estimate.

What restrains aircraft engine output: castings shortages or GTF inspections?

Two restraints remove 0.70 points a year from aircraft engine units: supply chain shortages of castings, forgings and labour take 0.50 points, and durability problems that divert new parts to spares and repairs take 0.20 points.

The supply chain is the binding limit. The International Air Transport Association (IATA) forecast airline net profit of USD 41 billion for 2026 at a 3.9% margin, and its director general Willie Walsh pointed to “bottlenecks in the aerospace supply chain”, its outlook of 10 December 2025 states. Safran’s LEAP deliveries rose only 5% in the third quarter of 2026, to 535, after 26% growth over nine months, its release shows, a sign that quarterly output still swings with parts supply. Douglas Insights estimates that castings and forgings shortages kept engine output about 5% below airframe demand in 2025.

Durability takes 0.20 points. RTX said the powder-metal condition still required accelerated removals and inspections of a significant portion of the PW1100G-JM fleet, its 2025 results of 27 January 2026 state, and Pratt & Whitney’s commercial original equipment sales fell 5% in the third quarter of 2026 while aftermarket sales rose 21%, its results of 20 October 2026 show. Every new module sent to a shop to replace an inspected one is a module not built into a new engine. Douglas Insights estimates GTF original equipment output stays about 10% below airframe need until 2027, and that the LEAP fleet sheds part of this drag sooner thanks to the certified durability kits.

Which region buys the most aircraft engines, and where is growth fastest?

North America buys the most aircraft engines, USD 15.74 billion or 34.0% of 2025 value, on US airline, business jet and defence demand. The Middle East and Africa grow fastest, 7.8% a year to USD 6.87 billion by 2035.

North America leads on fleets and the Pentagon. Boeing’s 600 deliveries in 2025, a large share to US carriers and lessors, and the F135 production line, which had delivered more than 1,400 engines by March 2026 according to RTX, keep the region first. Asia Pacific, USD 13.89 billion, grows 7.6% and overtakes North America by 2035 in our model, as Indian and Chinese airlines take narrowbodies and China’s C919 adds LEAP-1C demand, a Douglas Insights estimate.

Europe, USD 12.03 billion, grows 6.2%: Ryanair, easyJet, Wizz Air and Lufthansa Group are among the largest narrowbody buyers, and European air forces are adding Eurofighter and F-35 fleets. The Middle East and Africa, USD 3.24 billion, grow fastest, 7.8%, as Gulf carriers take widebodies, which is where large-engine flying hours have recovered most. Latin America, USD 1.39 billion, grows 6.4% as low-cost carriers in Brazil, Mexico and Colombia add A320neo-family and 737 MAX jets, and as Embraer, the Brazilian maker of the E2 regional jet powered by the PW1900G GTF, keeps much of its supply chain at home, a Douglas Insights estimate. Regional values sum to USD 49.37 billion in 2026 and USD 88.48 billion in 2035, within 0.02% of the headline.

Which companies dominate aircraft engines: GE, Safran, Pratt & Whitney or Rolls-Royce?

GE Aerospace, Safran, Pratt & Whitney, Rolls-Royce, MTU Aero Engines and Honeywell hold about 85% of aircraft engine value, Douglas Insights estimates; GE and Safran, partners in CFM International, together lead at about 38%.

GE Aerospace sets the pace. Its 2025 revenue rose 18% to USD 45.9 billion, with LEAP deliveries up 28% and total engine deliveries up 25%, its results of 22 January 2026 show, and third-quarter 2026 orders jumped 49% to USD 19.0 billion on revenue of USD 14.1 billion, its results of 20 October 2026 state. Safran, its 50:50 partner in CFM International, grew 2025 revenue 14.7% to EUR 31.33 billion, its results show. Most of the profit sits in services: GE’s commercial services backlog exceeds USD 170 billion, so engine makers price new engines low to win decades of shop visits.

Pratt & Whitney sold USD 32.92 billion in 2025, RTX’s results show, and grew 10% to USD 9.23 billion in the third quarter of 2026, led by GTF aftermarket, its 20 October 2026 results state. Rolls-Royce’s Civil Aerospace unit earned GBP 10.38 billion in 2025 and grew 29% organically to GBP 6.19 billion in the first half of 2026, its half-year results show. MTU Aero Engines, which holds risk-sharing shares in the GTF and GEnx, grew 2025 revenue 18% to EUR 8.76 billion, with commercial original equipment up 18% to EUR 2.26 billion and military flat at EUR 614 million, its results of 24 February 2026 show.

How much does an aircraft engine cost, from a turboshaft to a GE9X?

An aircraft engine realises an average USD 4.56 million in 2025, Douglas Insights estimates: about USD 0.75 million for a helicopter turboshaft, USD 7.2 million for a narrowbody turbofan and USD 20 million for a widebody engine.

Engine makers do not publish list prices, so lessor filings give the clearest public benchmark. Willis Lease Finance held 363 engines with a net book value of USD 2.99 billion at the end of 2025, about USD 8.2 million each, and earned USD 291.6 million of lease rent at 84.9% utilisation, its results of 10 March 2026 show, about USD 0.80 million of rent per engine a year. Its 2025 annual report shows leases under one year fell to 40% of book value from 47%, a sign that airlines now lock in spare engines for longer.

Average price rises 2.0% a year in our base case, to about USD 5.56 million in 2035. Contract escalation clauses tied to labour and metals indices add about 2.5% a year, while the mix shifts slightly toward cheaper narrowbody and helicopter engines, taking off about 0.5 points, Douglas Insights estimates. New engines are often sold below cost to airlines and airframers and repaid through services, which is why Pratt & Whitney’s original equipment sales fell 5% in the third quarter of 2026 while its adjusted operating profit rose 29%, RTX’s results show. Each USD 0.1 million change in average price moves 2025 value by about USD 1.0 billion.

What if output ramps faster or stalls: what is the 2035 aircraft engine forecast?

The aircraft engine market ends 2035 between USD 74.30 billion and USD 102.17 billion across our three cases, around a base of USD 88.46 billion. Airframe rates and supply chain recovery set most of the spread.

In the slower case Boeing’s 737 rate stays capped, castings shortages last past 2028 and GTF inspections keep diverting modules, taking 1.2 points off units and 0.6 points off price. In the faster case Airbus reaches its narrowbody rate targets on time, the 777X enters service with GE9X revenue flowing and defence orders accelerate, adding 1.0 point of units and 0.5 points of price. One extra point of yearly revenue growth adds about USD 8.4 billion to 2035 value, a Douglas Insights estimate.

Live signals sit close to the base case. Safran’s high-teens LEAP guidance for 2026 and Airbus’s target of about 870 deliveries point up, while LEAP’s 5% third-quarter growth and Pratt & Whitney’s 5% fall in original equipment sales show supply limits. The signal to watch is full-year 2026 LEAP deliveries against about 2,100, the high-teens rise Safran guides to.

Which rules shape aircraft engine demand, from durability certification to ReFuelEU?

Three rule sets shape aircraft engine demand: airworthiness certification and inspection orders from the US Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA), fuel-efficiency and emissions standards, and sustainable aviation fuel mandates.

Certification decides when engines can be delivered and booked. The FAA and EASA certified CFM’s LEAP-1B high-pressure turbine durability kit, which CFM says will double time on wing in harsh environments, with 40% of the LEAP-1A fleet already flying its own kit, its release of 18 July 2026 states. GE’s GE9X revenue waits on certification of its mid-seal fix, targeted for the end of 2026, per GE, and inspection orders on the PW1100G-JM keep powder-metal parts under review, per RTX.

Fuel rules favour the newest engines. Sustainable aviation fuel made up 2.8% of EU aviation fuel in 2025, 1.1 million tonnes out of 39.3 million, above the 2% ReFuelEU Aviation mandate, EASA’s report of 17 September 2026 states. Costlier blended fuel raises the payback from replacing older engines, and the International Civil Aviation Organization’s aeroplane CO2 standard rewards each new generation. CFM’s RISE open-fan programme targets more than 20% better fuel burn than today’s engines, its release of 18 July 2026 states.

Douglas Exclusive: the Engine Ramp Gap Ledger for aircraft engines

The Engine Ramp Gap Ledger is a Douglas Insights model built from 14 inputs: 11 company filings or releases, 2 regulator or association reports and 1 trade report. It compares engines delivered with engines the airframe lines need.

The finding, a Douglas Insights estimate: in 2025 Airbus and Boeing narrowbodies needed about 2,100 installed engines plus about 15% spares, about 2,420 in all, against about 2,550 narrowbody engines shipped, so the gap closed on paper. But airlines held about 1,000 more grounded or shop-bound GTF and LEAP engines than in 2019, so spare demand runs near 25% of installs, not 15%, leaving a real shortfall of about 200 engines a year.

The ledger changes how to read the market. Engine deliveries can grow faster than airframe deliveries for several years because spares are refilling a fleet-wide hole, not because demand is overstated. Douglas Insights therefore forecasts units from installs plus a spare ratio that falls from 25% to 17% by 2032, which keeps narrowbody engine growth near 7% even if airframe rates plateau.

How does the methodology turn 10,150 engines into USD 46.28 billion?

Our methodology multiplies about 10,150 aircraft engines delivered in 2025 by an average USD 4.56 million each to reach USD 46.28 billion, then grows units 4.6% and price 2.0% a year.

The model covers 6 engine classes and 5 regions, using 58 data points, 26 sourced and 32 modelled. Units come from a build by class: about 2,550 narrowbody, 600 widebody, 1,100 regional and business, 700 military, 2,000 turboprop and 3,200 turboshaft engines, Douglas Insights estimates anchored on Safran’s 1,802 LEAPs, Rolls-Royce’s 259 large and 224 business aviation engines, and Airbus and Boeing deliveries. Arithmetic: 10,150 x USD 4.56 million = USD 46.28 billion; USD 46.28 billion x (1.046 x 1.020)^10 = USD 88.46 billion. Units reach about 10,620 in 2026 and 15,910 in 2035. Piston engines and auxiliary power units are excluded.

Two cross-checks agree. First, 1,802 LEAPs at about USD 6.5 million give about USD 11.7 billion, 25% of our market, in line with CFM’s share of the narrowbody fleet. Second, MTU’s EUR 2.26 billion of commercial original equipment revenue, earned from risk-sharing shares of about 15% to 18% in its main programmes, implies roughly USD 14 billion to USD 17 billion of programme value, consistent with our GTF and widebody figures. AI tools help draft the text and automated checks test the arithmetic and links; the Douglas Insights research desk chooses the sources, builds the model and approves publication, as our editorial standards explain.

Sources

1. Safran Safran full-year 2025 results (2026)
2. Safran (webdisclosure) Safran third-quarter 2026 revenue (2026)
3. GE Aerospace GE Aerospace fourth-quarter 2025 results (2026)
4. GE Aerospace GE Aerospace third-quarter 2026 results (2026)
5. GE Aerospace GE Aerospace 3Q26 IR update (2026)
6. RTX RTX 2025 results and 2026 outlook (2026)
7. RTX RTX Q3 2026 results (2026)
8. RTX Pratt & Whitney F135 USD 6.6 billion production contract (2026)
9. Rolls-Royce Rolls-Royce full-year 2025 results (RNS) (2026)
10. Rolls-Royce Rolls-Royce 2026 half-year results (2026)
11. MTU Aero Engines MTU Aero Engines figures for 2025 (2026)
12. Honeywell Honeywell fourth-quarter 2025 results (2026)
13. Textron Textron fourth-quarter 2025 results (2026)
14. Airbus Airbus 793 commercial aircraft deliveries in 2025 (2026)
15. Airbus Airbus nine-month 2026 results (2026)
16. Boeing Boeing fourth-quarter 2025 deliveries (2026)
17. Boeing Boeing third-quarter 2026 deliveries (2026)
18. IATA IATA: industry set for record net profit in 2026 (2025)
19. CFM International CFM secures certification for LEAP-1B durability upgrades (2026)
20. CFM International Open fan advances toward flight test demonstration (2026)
21. EASA EU SAF supply exceeds 2025 ReFuelEU Aviation target (2026)
22. Willis Lease Finance Willis Lease Finance Q4 2025 results (2026)
23. US SEC Willis Lease Finance 2025 Form 10-K (2026)
24. Defense News Air Force triples funding for sixth-gen fighter engine (2025)

What counts in the aircraft engine study, and what is excluded?

The aircraft engine study counts new gas turbine engines for fixed-wing aircraft and helicopters, sold installed or as spares. Maintenance, repair and overhaul (MRO), parts sales, piston engines, auxiliary power units and missile engines are excluded.

The study splits value by 6 engine classes and 5 regions: North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Small turbines sit in our Aircraft Micro Turbine Engine Market report, maintenance in the Aircraft Line Maintenance Market study and piston fuel in the Avgas Market report.