Market Size of Middle-East and Africa Aircraft Engine Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | > 2.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Aircraft Engine Market Analysis
The Middle-East and Africa aircraft engine market is expected to exhibit a growth rate of over 2.5% during the forecast period.
- The increase in defense spending by major regional economic powers and the procurement of new fighter aircraft for fleet modernization are propelling the growth of the aircraft engine market in the Middle-East and Africa region. Countries are also trying to indigenously develop new military aircraft and engines. In February 2017, Russia and the United Arab Emirates announced the joint development of a fifth-generation twin-engine aircraft that would enter into the service from 2025.
- The rise in air passenger traffic is propelling the demand for new aircraft and new aircraft engines for the replacement of old engines. The new engines are lightweight and fuel-efficient with more thrust generation capability compared to old engines and this factor is driving the market growth for the aircraft engine in this region.
- Engine manufacturers are targeting the Middle East region due to its high potential and are expecting several new orders during the forecast period. Local firms are collaborating with international players to enhance their production capabilities.
- However, the outbreak of COVID-19 pandemic has slowed down the progress of the market and has significantly impacted the commercial aviation industry in the region which is expected to also hamper the growth of Middle-East and Africa aircraft engines market between 2020-2022.
