Global Aero Engine Market Size and Structure in 1.

According to data from the Champ Consulting Group,2022The size of the global civil aviation engine stock market exceeded7Ten thousand units, more2021of the year68407Taiwan has grown. Of these, turbofan engines remain the most mainstream type, accounting for more50%, followed by turboprop engines, turbojet engines and turboshaft engines. According to the application field, civil aviation engines are mainly used in passenger aircraft, cargo aircraft and general aviation aircraft.2022The global passenger aircraft stock continued to grow, reaching nearly310,000; cargo aircraft stock reached4Thousands; General Aviation Aircraft Stock Approaching40Ten thousand frames.

In 2023, global military aircraft engine purchases are expected to reach121.24In the next six years, the cumulative global expenditure on military aero engines will reach $100 million (excluding maintenance services).1529.87billion yuan. Among them, the United States is still the world's largest military aviation engine market, accounting for the global market share.46.8%, followed by China (11.1%), India (6.5%), Russia (5.9%) and the United Kingdom (4.6%). According to the application field, military aero engines are mainly used in fighter planes, bombers, transport aircraft, early warning aircraft, drones and so on.2023The annual global fighter stock is17800Rack, more2022of the year17600Rack Increase200Shelf, year-on-year growth1.1%; the bomber stock is2400Rack, more2022of the year2400The carrier is flat; the transport aircraft stock is5400Rack, more2022of the year5300Rack Increase100Shelf, year-on-year growth1.9%The stock of early warning aircraft is600Rack, more2022of the year600Rack is flat; drone stock is31000Rack, more2022of the year30000Rack Increase1000Shelf, year-on-year growth3.4%

Combining the above data, we estimate2023The global aero engine market size will reach approximately1500US $100 million, of which the proportion of civilian use is about70%, military accounts for about30%。

Competition Pattern and Development Trend of Global Aeroengine Market in 2.

The global aero-engine market competition pattern is dominated by a few developed countries such as the United States, Britain, France, and Russia. Among them, the United States has an absolute advantage and hasGE、P & W、R&RSuch as the world's leading aero engine companies, covering all market segments from large passenger aircraft to fighter jets. Other countries mainly rely on joint ventures or imports to obtain aero-engine technology and products. Specific as follows:

The United States: The United States is the world's largest producer and consumer of aero-engines, and its aero-engine technology level and market share are far ahead of other countries. The United States hasGE、P & W、R&RIts products are widely used in Boeing, Airbus, Lockheed Martin, Northrop and other world-renowned aero-engine companies.·Grummen and other types of aircraft. among them,GEis one of the world's largest suppliers of civil aviation engines, a joint venture with France's Safan Group.CFMInternational companies, producingCFM56andLEAPSeries engines are the world's best-selling civil aviation engines, respectively equipped with AirbusA320ceoandA320neo, Boeing737NGand737MAXMainstream narrow-body passenger aircraft;P & Wis one of the world's largest suppliers of military aero-engines, producingF100、F119、F135and other engines were equipped with the U.S. Air Force'sF-15、F-16、F-22andF-35and other fighter planes;R&Ris one of the world's largest suppliers of commercial wide-body passenger aircraft engines, producingTrentSeries engines are equipped with AirbusA330、A340、A350andA380, and Boeing787Waiting for the plane.

Britain: Britain is the world's second largest producer and consumer of aero engines, and its aero engine technology level and market share are second only to the United States. Britain hasR&RIts products are widely used in Airbus, Boeing, Bombardier and other aircraft. among them,R&RIn addition to being one of the world's largest suppliers of commercial wide-body passenger aircraft engines, it is also one of the world's largest suppliers of commercial regional aircraft engines.AE3007The series engines equip Embraer'sERJ145series of regional aircraft, while its U.P & WJoint venture establishedIAECompany producedV2500Series engines are equipped with AirbusA320ceoseries of aircraft.

France: France is the world's third largest producer and consumer of aero-engines, and its aero-engine technology and market share rank among the top in the world. France has world-renowned aero engine companies such as Safari, and its products are widely used in Airbus, Dassault, Bombardier and other aircraft. Among them, in addition to being one of the world's largest suppliers of civil aviation engines, Safan is also one of the world's largest suppliers of military fighter engines.M88series of engines equipped with the French Air Force“Gust”fighter, while its with the United StatesGEJoint venture establishedCFMProduced by international companiesCFM56andLEAPThe series engine is the world's best-selling civil aviation engine.

Russia: Russia is the world's fourth largest producer and consumer of aero-engines, and its aero-engine technology level and market share are also highly competitive. Russia has world-renowned aero-engine companies such as Sattern and Kuznetsov, and their products are widely used in various aircraft such as Sukhoi, MiG, and Tupolev. Among them, Sattern is one of the world's largest military fighter engine suppliers, the productionAL-31FThe series of engines are equipped with the Soviet Union of the Russian Air Force and the Chinese Air Force.-27, Sue-30, Sue-33and Sue-35Such as fighter jets, and its joint venture with France's Safan Group.PowerJetCompany producedSaM146The series of engines are equipped with the Russian company Sukhoi.SSJ100Series of regional aircraft.

Other countries: In addition to the above four countries, there are some countries that also have certain aero-engine development capabilities and market shares, such as Germany, Japan, Canada, Brazil, and India. Germany has one.MTUand other aero-engine companies, mainly involved in the European ThalesTP400Series turboprop engines and U. S.P & WThe company'sPW1000GDevelopment and production of a series of turbofan engines; Japan hasIHIand other aviation engine companies, mainly involved in the United States.GEThe company'sGE90Series of turbofan engines and Mitsubishi Heavy IndustriesMRJDevelopment and production of a series of regional aircraft; Canada has aviation engine enterprises such as Pratt & Whitney, which mainly produce turboshaft engines and propeller fan engines for general aviation aircraft and helicopters; Brazil has aviation engine enterprises such as Ebola, which mainly produce piston engines for general aviation aircraft and agricultural aircraft; India has aviation engine enterprises such as India Aviation Engine Company, which mainly develops turbojet engines and turbofan engines for military fighter jets and transport aircraft.

The development trend of the global aero engine market is mainly reflected in the following aspects:

The improvement of environmental protection requirements will promote the development of aviation engines in the direction of low emission, low noise and low fuel consumption. With the increasing global attention to environmental protection and climate change, governments and international organizations have become more and more stringent in environmental protection requirements for the air transport industry. For example, the EU plans2030Reduce CO2 emissions from the air transport industry2005annual level.50%,2050Achieve carbon neutrality in; International Civil Aviation Organization (ICAO) has formulated the Carbon Emission Compensation and Reduction Program (CORSIA), requiring a request from2021Carbon emission compensation measures have been implemented for all international flights since 2001. The International Civil Aviation Organization has also formulated the Aircraft Environmental Standards (CAEP), which stipulates technical standards for aircraft noise, emissions and fuel efficiency. These environmental requirements have prompted aircraft engine companies to continuously improve the performance of their products to achieve low emissions, low noise, and low fuel consumption. For example,CFMProduced by international companiesLEAPseries turbofan engine comparedCFM56series turbofan engine, reducing CO2 emissions15%Reduced NOx emissions.50%The noise level is reduced.15Decibels; U. S.P & WCompany producedPW1000GSeries turbofan engines use geared fan technology (GTF), compared to traditional turbofan engines, reduced carbon dioxide emissions16%Reduced NOx emissions.50%The noise level is reduced.20Decibels.

Technological innovation continues to promote the development of aero-engines in the direction of high efficiency, high reliability and high intelligence. As a representative of high-end manufacturing industry, the technological innovation of aero-engine is an important driving force to promote the development of the industry. Aero-engine companies continue to invest capital and manpower to carry out research and application of cutting-edge technologies to improve the efficiency, reliability, and intelligence of aero-engines. For example,GEcompany in itsGE9XSeries turbofan engines use carbon fiber composite fan blades, ceramic matrix composite turbine blades,3DAdvanced technologies such as print burners, making it the world's largest, most energy-efficient and environmentally friendly commercial aero engine;R&Rcompany in itsUltraFanVariable cycle technology is used in the series turbofan engine (VCE), electric drive technology (EDE), composite fan blades and other advanced technologies, making it the world's most advanced and efficient commercial aviation engine;PD-14A full-authority digital engine control system (FADEC), LCD instrument (LCD), smart sensors and other advanced technologies, making it Russia's first civil aviation engine that meets international standards.

The growth of market demand promotes the development of aviation engines in the direction of diversification, differentiation and customization. With the recovery of the global economy and the progress of society, people's demand for air transport is increasing, especially in the Asia-Pacific region, the air transport market is showing a rapid growth trend. According to data from the Champ Consulting Group, it is expected that2023Year-round will reach38.7Hundreds of millions of people, more2019of the year45.4Billions of people recovered85%. These market demands will drive the demand for various types of aircraft and corresponding aero engines. At the same time, different types and sizes of aircraft have different requirements for the performance and characteristics of aero-engines. For example, large passenger aircraft need turbofan engines with high thrust, high efficiency and low fuel consumption; fighter planes need turbojet engines or turbofan engines with high thrust-to-weight ratio, high reliability and high mobility; UAVs need lightweight, small and low-cost turbojet engines or turboshaft engines. Therefore, aero-engine enterprises need to carry out diversified, differentiated and customized product development and service provision according to market demand and customer requirements.

China's Aeroengine Market Size and Structure in 3.

According to data from the Champ Consulting Group,2022In, China's civil air transport completed passenger traffic2.5Hundreds of millions of people, more2021of the year5.2Billions of people down52.1%; Completed cargo and mail transportation volume680Ten thousand tons, more2021of the year730Decreased tons6.8%. Among them, domestic passenger traffic2.5Hundreds of millions of people, more2021Annual decline51.0%; international passenger traffic190Ten thousand people, more2021Annual growth5.0%。2022The size of China's civil air transport fleet reached4050Rack, more2021Year increased.80The proportion of turbofan engine aircraft reached.96.0%. According to the application field, the civil air transport fleet mainly includes passenger aircraft, cargo aircraft and general aviation aircraft.2022China's civil passenger aircraft stock in3600Rack, more2021of the year3528Rack Increase72Shelf, year-on-year growth2.0%; cargo aircraft stock is180Rack, more2021of the year173Rack Increase7Shelf, year-on-year growth4.0%; general aviation aircraft stock is270Rack, more2021of the year269Rack Increase1Shelf, year-on-year growth0.4%。

China's defense budget in 2022 is14760.81Billions of dollars, more2021of the year13553.43billion growth8.9%. Among them, the proportion of military equipment construction is about.40%, about5904.32Billions of dollars. According to the application field, military aviation equipment mainly includes fighters, bombers, transport aircraft, early warning aircraft, drones and so on.2022China's military fighter stock in1800Rack, more2021of the year1700Rack Increase100Shelf, year-on-year growth5.9%; the bomber stock is200Rack, more2021of the year200The carrier is flat; the transport aircraft stock is300Rack, more2021of the year300The stock of AWACS is flat.50Rack, more2021of the year50Rack is flat; drone stock is2200Rack, more2021of the year2000Rack Increase200Shelf, year-on-year growth10%。

Combining the above data, we estimate2023The size of China's aero-engine market will reach about2000Billion yuan, of which the proportion of civilian use is about40%, military accounts for about60%。

Competition Pattern and Development Trend of China's Aeroengine Market in 4.

China's aviation engine market competition pattern to AVIC Group as the core, with AVIC engine, AVIC power, AVIC gas turbine and other subsidiaries, covering from turbojet, turbofan, turboprop, turboshaft to propeller fan and other types of aviation engines. Other participants mainly rely on joint ventures or imports to obtain aircraft engine technology and products. Specific as follows:

AVIC Group: AVIC Group is the largest manufacturer and consumer of aero engines in China. It owns many subsidiaries and research institutes, such as AVIC engine, AVIC power, AVIC gas turbine, etc., covering various types of aero engines from turbojet, turbofan, turboprop, turboshaft to paddle fan. Among them, AVIC Engine is China's largest military aircraft engine manufacturer, which producesWS-10、WS-15、WS-18and other series of engines were equipped with the Chinese Air Force's-10, J-20Transportation-20AVIC Power is the largest civil aviation engine manufacturer in China, and its productionCJ-1000AThe series of engines will be equipped with COMAC'sC919Series of large passenger aircraft; AVIC Gas Turbine is China's largest manufacturer of general aviation engines, which producesWJ-6、WJ-9、WJ-10The series of engines are equipped with the Aviation Industry Corporation of China.-7Transportation-8Transportation-9Waiting for the plane.

Other participants: In addition to AVIC, some domestic and foreign companies have also participated in the competition in China's aero-engine market, mainly through joint ventures or imports to obtain aero-engine technology and products. For example, the United StatesGEThe company established a joint venture with COMACCFMInternational (China) Corporation, responsibleC919Series large passenger aircraft provideLEAP-1CSeries of turbofan engines; Xian Safron Gas Turbine Company, a joint venture between Safron and China Aviation Industry Corporation, is responsibleARJ21Series regional aircraft availableCF34-10ASeries of turbofan engines; Russian company Sattern and China Aviation Industry Corporation jointly established the Sino-Russian Heavy Helicopter Co., Ltd., responsible forAC313Series Heavy Helicopter OfferedTV7-117VSeries turboshaft engine.

The development trend of China's aviation engine market is mainly reflected in the following aspects:

National strategic support to promote the aviation engine industry to achieve independent innovation and independent control. Aeroengine is an important symbol of national science and technology, industry and national defense strength, and also an important guarantee for national security and economic and social development. In order to break the foreign technology blockade and market monopoly, the Chinese government attaches great importance to the development of the aero-engine industry and has formulated a series of strategic plans and policy measures to support the independent innovation and independent control of the aero-engine industry. For example,2016China Aero Engine Group Co., Ltd. (AVIC for short) was established in, as a national strategic investment platform, integrating enterprises, institutions and scientific research institutes involved in the development and production of aero engines all over the country, forming a complete industrial chain from design and development to test verification to mass production and maintenance support;2017The "Thirteenth Five-Year" Civil Aviation Development Plan was issued in, which clearly stated that it is necessary to accelerate the key technology research and product development of civil aviation engines to achieve independent control of civil aviation engines;2018Published in 《“Thirteen Five”National defense science and technology industry innovation-driven development plan, clearly put forward to strengthen the military aviation engine key technology research and product development, to achieve military aviation engine independent and reliable.

Military-civilian integration to promote the aviation engine industry to achieve resource sharing and complementary advantages. Civil-military integration is a national strategy and an important way for the development of aero-engine industry. Through military-civilian integration, the resource sharing and complementary advantages of the aero-engine industry can be realized, and the efficiency and competitiveness of the aero-engine industry can be improved. For example, through military-civilian integration, the two-way transformation and application of aero-engine technology can be realized, so that military aero-engine technology can provide support for civil aero-engine technology, and at the same time, civil aero-engine technology can provide reference for military aero-engine technology; through military-civilian integration, it can realize the two-way opening and exchange of aero-engine products, so that military aero-engine products can provide supply for the civil aviation market, at the same time, civil aviation engine products can provide choices for the military aviation market; through military-civilian integration, the two-way coordination and cooperation of the aviation engine industry can be realized, so that the military aviation engine industry can form a joint force with the civil aviation engine industry, and at the same time, the civil aviation engine industry can complement the military aviation engine industry.

The growth of market demand has promoted the scale expansion and quality improvement of the aero engine industry. With the rapid growth of China's economy and the continuous progress of society, China's demand for air transport is increasing, especially in the domestic market, the air transport market is showing a rapid growth trend. According to data from the Champ Consulting Group, it is expected that2023The passenger traffic volume of China's civil aviation transportation will reach7.5Hundreds of millions of people, more2019of the year6.6billion people growth13.6%; completed cargo and mail traffic will reach900Ten thousand tons, more2019of the year740tons of growth21.6%. These market demands will drive the demand for various types of aircraft and corresponding aero engines. At the same time, with the improvement of China's national defense construction and international status, China's demand for military aviation equipment is also increasing, especially in the international market, China's military aviation equipment exports show a rapid growth trend. China is the world's fifth largest arms exporter, with military aircraft as the main export. These market demands will promote the scale expansion and quality improvement of China's aero-engine industry.

Conclusion

To sum up, we believe that:

Global Aero Engine Market Size Estimated2023The year will reach about1500US $100 million, of which the proportion of civilian use is about70%, military accounts for about30%。

The global aero engine market competition pattern is dominated by a few developed countries such as the United States, Britain, France, and Russia, among which the United States has an absolute advantage.

The development trend of the global aero engine market is mainly reflected in the improvement of environmental protection requirements, continuous technological innovation and market demand growth.

China's aviation engine market size is expected.2023The whole year will reach about2000Billion yuan, of which the proportion of civilian use is about40%, military accounts for about60%。

The competition pattern of China's aero-engine market is centered on AVIC, while other participants mainly rely on joint ventures or imports to obtain aero-engine technology and products.

The development trend of China's aero-engine market is mainly reflected in the national strategic support, the promotion of military-civilian integration, and the growth of market demand.

Shangpu Consulting believes that aero-engines are the "heart" of aircraft and an important symbol of national science and technology, industry and national defense strength. The aero-engine industry has the characteristics of high technology threshold, high investment, high risk and high return, showing a high monopoly situation in the world. China's aero-engine industry is in a stage of rapid development, benefiting from national strategic support, military-civilian integration promotion, market demand growth and other factors.10More than a year will open the gold growth period. We suggest that China's aero-engine industry, on the basis of adhering to independent innovation and independent control, strengthen cooperation and exchanges with excellent enterprises and institutions at home and abroad, and make full use of both international and domestic markets and resources to improve the performance and quality of aero-engines, meet the needs of aircraft of different types and sizes, and enhance the competitiveness and influence of China's aero-engines in the global market.