Saudi Arabia Aircraft Engine Market (2021-2027) | Size, Growth, Analysis, Value, Share, COVID-19 IMPACT, Outlook, Industry, Forecast, Companies, Revenue & Trends

Saudi Arabia Aircraft Engine Market Synopsis

Saudi Arabia is home to one of the largest aviation markets in the Middle East, with a fleet size of over 600 commercial aircraft. The Saudi Arabia market for aircraft engines is expected to grow at a CAGR of 4.6% during 2021-2027 and reach US$ 1.8 billion by 2027. This growth will be driven by increased demand for air travel due to economic development in the region, as well as an increasing number of passengers who are opting for air transportation instead of ground travel options due to safety concerns. Furthermore, advancements in engine technology and developments towards greener solutions have also supported this growth trend.

Market Drivers

Increase in economic activity has led to greater disposable income among residents resulting in increased airline ticket purchases both domestically and internationally thus driving growth within this sector. Airlines are looking beyond traditional routes such as business or leisure travelers opting instead into more niche markets such as cargo or medical use which has led to an increase need for efficient engines that can facilitate these operations. Development towards lighter weight materials and greener solutions such as electric propulsion systems have allowed manufacturers increased access into new potential customers with improved fuel efficiency providing cost savings.

Challenges of the Market

Lack of maintenance infrastructure in certain areas can prove difficult when it comes ti servicing needs or sourcing spare parts making them less attractive choices from airlines operating out the country. Aircraft engines come with high initial costs which prove challenging especially since pricing structures remain relatively fixed regardless of newer generations become available forcing some operators on older models until they can afford upgrades.

Covid 19 Impact on the Market

The COVID-19 pandemic has had an adverse effect on the growth of aviation sector due to travel restrictions imposed internationally across various countries. This has led to decreased demand for new aircraft engines in 2020 which consequently hampered growth of Saudi Arabia Aircraft Engine Market. On account of numerous travel restrictions globally owing to rapid spread of coronavirus infection among people, most major airlines reduced their operations significantly leading to low utilization rate or even suspension of their flights altogether; thereby resulting into capacity cuts amid existing high fuel prices and weak customer confidence along with significant disruption within global supply chain system. However Aerospace & Defense industry have been least affected due to its essentiality; moreover governments are also taking steps for reviving this industry through policy reforms . Hence with gradual recovery expected from 2021 - 2022 ,the market will revive back again followed by long term sustainable development over coming years .

key players of the Market

Some key players operating in Saudi Arabia Aircraft Engine Market include United Technologies Corporation (Pratt & Whitney), Rolls Royce Plc., Honeywell International Inc., General Electric Company (GE Aviation), Safran SA (Snecma Moteurs), MTU Aero Engines AG and others.

Key Highlights of the Report:

• Saudi Arabia Aircraft Engine Market Outlook
• Market Size of Saudi Arabia Aircraft Engine Market, 2020
• Forecast of Saudi Arabia Aircraft Engine Market, 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Revenues & Volume for the Period 2023 - 2027
• Saudi Arabia Aircraft Engine Market Trend Evolution
• Saudi Arabia Aircraft Engine Market Drivers and Challenges
• Saudi Arabia Aircraft Engine Price Trends
• Saudi Arabia Aircraft Engine Porter's Five Forces
• Saudi Arabia Aircraft Engine Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Type for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Turboprop for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Turbofan for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Turboshaft for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Piston Engine for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Application for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Military Aviation for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Commercial Aviation for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By General Aviation for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Platform for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Fixed Wing for the Period 2023 - 2027
• Historical Data and Forecast of Saudi Arabia Aircraft Engine Market Revenues & Volume By Rotary Wing for the Period 2023 - 2027
• Saudi Arabia Aircraft Engine Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Platform
• Saudi Arabia Aircraft Engine Top Companies Market Share
• Saudi Arabia Aircraft Engine Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Aircraft Engine Company Profiles
• Saudi Arabia Aircraft Engine Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):