# Aircraft Engine Market

> Global aircraft engine market: USD 46.28 billion in 2025, rising 6.69% a year to USD 88.46 billion by 2035 as narrowbody output ramps up and defence programmes grow.

Publisher: Douglas Insights  
Author: Douglas Insights Research Desk  
Report code: DI-AD-10890  
Published: 2026-11-06  
Last updated: 2026-11-06  
Next review: May 2027  
Page: https://www.douglasinsights.com/aircraft-engine-market/

## Key figures

| Measure | Value | How it is built |
| --- | --- | --- |
| Market size · 2025 | $46.28 Bn | About 10,150 engines x USD 4.56 million = USD 46.28 billion. |
| Forecast · 2035 | $88.46 Bn | Base case: 4.6% units and 2.0% price a year. |
| Revenue CAGR · 2026–2035 | 6.69% | (1.046 x 1.020) minus 1. |
| Volume · 2035 | About 15,900 engines | Narrowbody ramp-ups, widebody recovery, defence and general aviation, less supply chain and durability drag. |
| Leading segment | Narrowbody turbofans, 39.8% | A320neo family and 737 MAX dominate airliner output. |
| Fastest segment | Narrowbody turbofans, 7.4% | USD 18.42 billion to USD 37.61 billion. |
| Fastest region | Middle East and Africa, 7.8% | USD 3.24 billion to USD 6.87 billion. |
| Market leader | GE and Safran, about 38% (estimate) | Douglas Insights estimate: GE Aerospace and Safran via CFM International LEAP plus GE widebody and military engines. |
| Event | 1,802 LEAPs | Safran delivered 1,802 LEAP engines in 2025, up 28% from 1,407 (results of 13 February 2026). |

## Key takeaways

- The aircraft engine market is worth USD 46.28 billion in 2025 and USD 88.46 billion in 2035, a 6.69% CAGR.
- About 10,150 engines at an average USD 4.56 million form the 2025 base; units grow 4.6% a year and price 2.0%.
- Safran delivered 1,802 LEAP engines in 2025, up 28%, and 1,565 in the first nine months of 2026.
- Castings shortages and GTF powder-metal inspections still hold engine output below airframe need.
- Narrowbody turbofans hold 39.8% of value and grow fastest, while the Middle East and Africa is the fastest region.

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](https://www.safran-group.com/pressroom/safran-reports-excellent-financial-performance-2025-and-raises-its-2028-ambitions-2026-02-13) show, while Airbus delivered 793 aircraft and still held a backlog of 8,754, its [release of 12 January 2026](https://www.airbus.com/en/newsroom/press-releases/2026-01-airbus-reports-793-commercial-aircraft-deliveries-in-2025) 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](https://www.douglasinsights.com/industry/aircraft-systems-components/), beside the [Aircraft Micro Turbine Engine Market](https://www.douglasinsights.com/aircraft-micro-turbine-engine-market/), [Aircraft Line Maintenance Market](https://www.douglasinsights.com/aircraft-line-maintenance-market/) and [Aircraft Power Distribution System Market](https://www.douglasinsights.com/aircraft-power-distribution-system-market/) reports; every figure follows the Douglas Insights [research methodology](https://www.douglasinsights.com/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.

| Engine class | Share 2025 | Value 2025 | CAGR 2026-2035 | Value 2035 |
| --- | --- | --- | --- | --- |
| Narrowbody turbofans (LEAP, PW1000G GTF) | 39.8% | USD 18.42 billion | 7.4% | USD 37.61 billion |
| Widebody turbofans (Trent, GEnx, GE9X, GE90) | 25.9% | USD 11.99 billion | 7.0% | USD 23.58 billion |
| Military turbofans and turbojets | 18.1% | USD 8.38 billion | 5.6% | USD 14.45 billion |
| Regional and business jet turbofans | 7.1% | USD 3.29 billion | 5.0% | USD 5.35 billion |
| Turboshafts for helicopters | 5.2% | USD 2.41 billion | 5.4% | USD 4.07 billion |
| Turboprops | 3.9% | USD 1.81 billion | 5.2% | USD 3.00 billion |

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](https://www.airbus.com/en/newsroom/press-releases/2026-01-airbus-reports-793-commercial-aircraft-deliveries-in-2025) and [Boeing releases of 12 and 13 January 2026](https://boeing.mediaroom.com/2026-01-13-Boeing-Announces-Fourth-Quarter-Deliveries) 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](https://www.lse.co.uk/rns/full-year-results-2025-7hz3lka7mr5d75m.html) 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](https://www.airbus.com/en/newsroom/press-releases/2026-10-airbus-reports-nine-month-9m-2026-results) 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](https://boeing.mediaroom.com/2026-10-13-Boeing-Announces-Third-Quarter-Deliveries) 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](https://www.webdisclosure.com/press-release/safran-reports-third-quarter-2026-revenue-oZzVpEE6rvr) 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](https://www.rolls-royce.com/~/media/Files/R/Rolls-Royce/documents/investors/rr-holdings-plc-2026-half-year-results-press-release.pdf) show. Large-engine flying hours reached 111% of 2019 levels in 2025, its [2025 results](https://www.lse.co.uk/rns/full-year-results-2025-7hz3lka7mr5d75m.html) 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](https://www.geaerospace.com/news/investor-relations/ir-updates/ge-aerospace-releases-its-3q26-results) 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](https://www.rtx.com/news/news-center/2026/03/31/rtxs-pratt-whitney-awarded-6-6-billion-f135-production-contract-to-definitize) 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](https://www.defensenews.com/air/2025/01/28/air-force-triples-funding-for-prototype-sixth-gen-fighter-engine). 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](https://investor.textron.com/news-releases/news-details/2026/Textron-Reports-Fourth-Quarter-2025-Results-Announces-2026-Financial-Outlook/default.aspx) 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](https://www.honeywell.com/us/en/press/2026/01/honeywell-reports-fourth-quarter-2025-results-with-adjusted-sales-and-adjusted-earnings-above-high-end-of-guidance-issues-2026-outlook) 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](https://airlines.iata.org/2025/12/10/industry-set-record-net-profit-2026) states. Safran's LEAP deliveries rose only 5% in the third quarter of 2026, to 535, after 26% growth over nine months, its [release](https://www.webdisclosure.com/press-release/safran-reports-third-quarter-2026-revenue-oZzVpEE6rvr) 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](https://www.rtx.com/news/news-center/2026/01/27/rtx-reports-2025-results-and-announces-2026-outlook) 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](https://rtx.com/news/news-center/2026/10/20/rtx-reports-q3-2026-results) 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.

| Region | Value 2025 | Share 2025 | Value 2026 | CAGR 2026-2035 | Value 2035 |
| --- | --- | --- | --- | --- | --- |
| North America | USD 15.74 billion | 34.0% | USD 16.68 billion | 6.0% | USD 28.18 billion |
| Asia Pacific | USD 13.89 billion | 30.0% | USD 14.94 billion | 7.6% | USD 28.89 billion |
| Europe | USD 12.03 billion | 26.0% | USD 12.78 billion | 6.2% | USD 21.96 billion |
| Middle East and Africa | USD 3.24 billion | 7.0% | USD 3.49 billion | 7.8% | USD 6.87 billion |
| Latin America | USD 1.39 billion | 3.0% | USD 1.48 billion | 6.4% | USD 2.58 billion |

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](https://www.rtx.com/news/news-center/2026/03/31/rtxs-pratt-whitney-awarded-6-6-billion-f135-production-contract-to-definitize), 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%.

| Company | Main engines | Latest reported figure | Source date |
| --- | --- | --- | --- |
| GE Aerospace | LEAP (via CFM), GEnx, GE9X, F414, T901 | 2025 revenue USD 45.9 billion, up 18% | 22 January 2026 |
| Safran | LEAP (via CFM), helicopter turboshafts | 2025 propulsion revenue EUR 15.67 billion; 1,802 LEAPs | 13 February 2026 |
| Pratt & Whitney (RTX) | PW1000G GTF, F135, PW100, PT6 | 2025 sales USD 32.92 billion; Q3 2026 USD 9.23 billion | 27 January and 20 October 2026 |
| Rolls-Royce | Trent XWB, Trent 7000, Pearl, AE 2100 | 2025 Civil Aerospace GBP 10.38 billion; 259 large engines | 26 February 2026 |
| MTU Aero Engines | Risk-sharing shares in GTF, GEnx, EJ200 | 2025 revenue EUR 8.76 billion; commercial OEM EUR 2.26 billion | 24 February 2026 |
| Honeywell Aerospace Technologies | HTF7000, TPE331, APUs | 2025 sales USD 17.51 billion, up 13% | 29 January 2026 |

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](https://www.geaerospace.com/news/press-releases/ge-aerospace-announces-fourth-quarter-2025-results) 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](https://www.geaerospace.com/news/press-releases/ge-aerospace-announces-third-quarter-2026-results) state. Safran, its 50:50 partner in CFM International, grew 2025 revenue 14.7% to EUR 31.33 billion, its [results](https://www.safran-group.com/pressroom/safran-reports-excellent-financial-performance-2025-and-raises-its-2028-ambitions-2026-02-13) 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](https://www.rtx.com/news/news-center/2026/01/27/rtx-reports-2025-results-and-announces-2026-outlook) show, and grew 10% to USD 9.23 billion in the third quarter of 2026, led by GTF aftermarket, its [20 October 2026 results](https://rtx.com/news/news-center/2026/10/20/rtx-reports-q3-2026-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](https://www.rolls-royce.com/~/media/Files/R/Rolls-Royce/documents/investors/rr-holdings-plc-2026-half-year-results-press-release.pdf) 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](https://www.mtu.de/investors/publications-events/latest-ir-news/ir-news-details/figures-for-2025-mtu-stays-on-course-for-growth-1-1/) 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](https://www.wlfc.global/hubfs/PDFs/News-Room/Press%20Releases/Q4%202025%20Ex%2099.1.pdf?hsLang=en) show, about USD 0.80 million of rent per engine a year. Its [2025 annual report](https://www.sec.gov/Archives/edgar/data/1018164/000101816426000036/wlfc-20251231x10k.htm) 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](https://rtx.com/news/news-center/2026/10/20/rtx-reports-q3-2026-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.

| Case | Engine unit leg | Price leg | Revenue rate | 2035 value |
| --- | --- | --- | --- | --- |
| Slower | 3.40% | 1.40% | 4.85% | USD 74.30 billion |
| Base case | 4.60% | 2.00% | 6.69% | USD 88.46 billion |
| Faster | 5.60% | 2.50% | 8.24% | USD 102.17 billion |

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](https://www.cfmaeroengines.com/press-articles/cfm-secures-certification-for-leap-1b-durability-upgrades) states. GE's GE9X revenue waits on certification of its mid-seal fix, targeted for the end of 2026, per [GE](https://www.geaerospace.com/news/investor-relations/ir-updates/ge-aerospace-releases-its-3q26-results), and inspection orders on the PW1100G-JM keep powder-metal parts under review, per [RTX](https://www.rtx.com/news/news-center/2026/01/27/rtx-reports-2025-results-and-announces-2026-outlook).

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](https://www.easa.europa.eu/newsroom-and-events/press-releases/eu-sustainable-aviation-fuel-supply-exceeds-2025-refueleu-aviation-target) 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](https://www.cfmaeroengines.com/press-articles/open-fan-advances-toward-flight-test-demonstration) 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.

| Date | Input | What it moves |
| --- | --- | --- |
| 28 January 2025 | Defense News: NGAP ceilings to USD 3.5 billion | Military pipeline |
| 10 December 2025 | IATA: supply chain bottlenecks | Supply limit |
| 12 January 2026 | Airbus: 793 deliveries, 8,754 backlog | Airframe need |
| 13 January 2026 | Boeing: 600 deliveries | Airframe need |
| 22 January 2026 | GE: engine deliveries up 25% | Engine supply |
| 27 January 2026 | RTX: powder-metal removals continue | GTF drag |
| 13 February 2026 | Safran: 1,802 LEAPs | Engine supply |
| 26 February 2026 | Rolls-Royce: 259 large engines | Widebody supply |
| 10 March 2026 | Willis Lease: 84.9% utilisation | Spare tightness |
| 31 March 2026 | RTX: F135 USD 6.6 billion contract | Military supply |
| 18 July 2026 | CFM: LEAP-1B durability kit certified | LEAP drag |
| 13 October 2026 | Boeing: 475 deliveries in 9M 2026 | Airframe need |
| 23 October 2026 | Safran: 1,565 LEAPs in 9M 2026 | Engine supply |
| 28 October 2026 | Airbus: 547 deliveries, about 870 target | Airframe 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](https://www.douglasinsights.com/editorial-standards/) explain.

## 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](https://www.douglasinsights.com/aircraft-micro-turbine-engine-market/) report, maintenance in the [Aircraft Line Maintenance Market](https://www.douglasinsights.com/aircraft-line-maintenance-market/) study and piston fuel in the [Avgas Market](https://www.douglasinsights.com/avgas-market/) report.

## Market by segment

| Segment | Share | Value |
| --- | --- | --- |
| Narrowbody turbofans | 39.8% | $18.42 Bn |
| Widebody turbofans | 25.9% | $11.99 Bn |
| Military turbofans and turbojets | 18.1% | $8.38 Bn |
| Regional and business jet turbofans | 7.1% | $3.29 Bn |
| Turboshafts for helicopters | 5.2% | $2.41 Bn |
| Turboprops | 3.9% | $1.81 Bn |

## Market by region (USD million)

| Region | 2025 | 2026 | 2035 | CAGR 2026-2035 |
| --- | --- | --- | --- | --- |
| Global | 46,284 | 49,381.3 | 88,460.5 | 6.69% |
| North America | 15,736.6 | 16,680.8 | 28,181.8 | 6% |
| Asia Pacific | 13,885.2 | 14,940.5 | 28,885.2 | 7.6% |
| Europe | 12,033.8 | 12,779.9 | 21,960.9 | 6.2% |
| Middle East and Africa | 3,239.9 | 3,492.6 | 6,866.2 | 7.8% |
| Latin America | 1,388.5 | 1,477.4 | 2,582.1 | 6.4% |

## Dataset

| Series | Value | Unit |
| --- | --- | --- |
| Market size 2025 | 46,284 | USD million |
| Market size 2035 | 88,461 | USD million |
| Revenue CAGR 2026-2035 | 6.69 | percent |
| Volume CAGR 2026-2035 | 4.6 | percent |
| Price per unit CAGR 2026-2035 | 2 | percent |

## Frequently asked questions

### How big is the aircraft engine market in 2025 and 2035?

USD 46.28 billion in 2025, from about 10,150 engines at USD 4.56 million each, rising to USD 88.46 billion by 2035 at a 6.69% CAGR.

### Which aircraft engines earn the most?

39.8% of 2025 value, about USD 18.42 billion, comes from narrowbody turbofans such as the CFM LEAP and Pratt & Whitney GTF, which also grow fastest at 7.4% a year.

### Which companies lead the aircraft engine market?

About 85% is held by GE Aerospace, Safran, Pratt & Whitney, Rolls-Royce, MTU Aero Engines and Honeywell, Douglas Insights estimates; GE and Safran together lead at about 38% through CFM.

### How many LEAP engines were delivered in 2025?

1,802 LEAP engines were delivered in 2025, up 28% from 1,407 in 2024, Safran's results show, and 1,565 in the first nine months of 2026.

### How much does an aircraft engine cost?

USD 4.56 million on average, from about USD 0.75 million for a turboshaft to USD 7.2 million for a narrowbody turbofan and USD 20 million for a widebody engine, Douglas Insights estimates.

### Why are aircraft engines in short supply?

0.70 points a year are lost to castings and forgings shortages and to GTF and LEAP durability work that diverts new parts to spares and repairs.

## Sources

- [Safran, Safran full-year 2025 results](https://www.safran-group.com/pressroom/safran-reports-excellent-financial-performance-2025-and-raises-its-2028-ambitions-2026-02-13)
- [Safran (webdisclosure), Safran third-quarter 2026 revenue](https://www.webdisclosure.com/press-release/safran-reports-third-quarter-2026-revenue-oZzVpEE6rvr)
- [GE Aerospace, GE Aerospace fourth-quarter 2025 results](https://www.geaerospace.com/news/press-releases/ge-aerospace-announces-fourth-quarter-2025-results)
- [GE Aerospace, GE Aerospace third-quarter 2026 results](https://www.geaerospace.com/news/press-releases/ge-aerospace-announces-third-quarter-2026-results)
- [GE Aerospace, GE Aerospace 3Q26 IR update](https://www.geaerospace.com/news/investor-relations/ir-updates/ge-aerospace-releases-its-3q26-results)
- [RTX, RTX 2025 results and 2026 outlook](https://www.rtx.com/news/news-center/2026/01/27/rtx-reports-2025-results-and-announces-2026-outlook)
- [RTX, RTX Q3 2026 results](https://rtx.com/news/news-center/2026/10/20/rtx-reports-q3-2026-results)
- [RTX, Pratt & Whitney F135 USD 6.6 billion production contract](https://www.rtx.com/news/news-center/2026/03/31/rtxs-pratt-whitney-awarded-6-6-billion-f135-production-contract-to-definitize)
- [Rolls-Royce, Rolls-Royce full-year 2025 results (RNS)](https://www.lse.co.uk/rns/full-year-results-2025-7hz3lka7mr5d75m.html)
- [Rolls-Royce, Rolls-Royce 2026 half-year results](https://www.rolls-royce.com/~/media/Files/R/Rolls-Royce/documents/investors/rr-holdings-plc-2026-half-year-results-press-release.pdf)
- [MTU Aero Engines, MTU Aero Engines figures for 2025](https://www.mtu.de/investors/publications-events/latest-ir-news/ir-news-details/figures-for-2025-mtu-stays-on-course-for-growth-1-1/)
- [Honeywell, Honeywell fourth-quarter 2025 results](https://www.honeywell.com/us/en/press/2026/01/honeywell-reports-fourth-quarter-2025-results-with-adjusted-sales-and-adjusted-earnings-above-high-end-of-guidance-issues-2026-outlook)
- [Textron, Textron fourth-quarter 2025 results](https://investor.textron.com/news-releases/news-details/2026/Textron-Reports-Fourth-Quarter-2025-Results-Announces-2026-Financial-Outlook/default.aspx)
- [Airbus, Airbus 793 commercial aircraft deliveries in 2025](https://www.airbus.com/en/newsroom/press-releases/2026-01-airbus-reports-793-commercial-aircraft-deliveries-in-2025)
- [Airbus, Airbus nine-month 2026 results](https://www.airbus.com/en/newsroom/press-releases/2026-10-airbus-reports-nine-month-9m-2026-results)
- [Boeing, Boeing fourth-quarter 2025 deliveries](https://boeing.mediaroom.com/2026-01-13-Boeing-Announces-Fourth-Quarter-Deliveries)
- [Boeing, Boeing third-quarter 2026 deliveries](https://boeing.mediaroom.com/2026-10-13-Boeing-Announces-Third-Quarter-Deliveries)
- [IATA, IATA: industry set for record net profit in 2026](https://airlines.iata.org/2025/12/10/industry-set-record-net-profit-2026)
- [CFM International, CFM secures certification for LEAP-1B durability upgrades](https://www.cfmaeroengines.com/press-articles/cfm-secures-certification-for-leap-1b-durability-upgrades)
- [CFM International, Open fan advances toward flight test demonstration](https://www.cfmaeroengines.com/press-articles/open-fan-advances-toward-flight-test-demonstration)
- [EASA, EU SAF supply exceeds 2025 ReFuelEU Aviation target](https://www.easa.europa.eu/newsroom-and-events/press-releases/eu-sustainable-aviation-fuel-supply-exceeds-2025-refueleu-aviation-target)
- [Willis Lease Finance, Willis Lease Finance Q4 2025 results](https://www.wlfc.global/hubfs/PDFs/News-Room/Press%20Releases/Q4%202025%20Ex%2099.1.pdf?hsLang=en)
- [US SEC, Willis Lease Finance 2025 Form 10-K](https://www.sec.gov/Archives/edgar/data/1018164/000101816426000036/wlfc-20251231x10k.htm)
- [Defense News, Air Force triples funding for sixth-gen fighter engine](https://www.defensenews.com/air/2025/01/28/air-force-triples-funding-for-prototype-sixth-gen-fighter-engine)

## How to cite

Douglas Insights, "Aircraft Engine Market", DI-AD-10890, updated 2026-11-06, https://www.douglasinsights.com/aircraft-engine-market/