Asia-Pacific 10-Year Engine Demand Forecast
The Asia-Pacific regional engine market is projected to account for 17% of the worldwide engine market, with over 8,400 new engines delivered by 2033 and a fleet growth rate of 4.9% CAGR.
Preliminary results of the 2024 edition of Aviation Week’s Commercial Aviation Fleet & MRO Forecast projects that the active Asia-Pacific engine fleet will increase from just over 10,000 engines in 2024 to more than 15,400 in 2033, a 53% increase in fleet strength during the period. This increase in fleet and the commensurate utilization expected will drive MRO spending to increase by over 25% by 2033. The forecast projects that CFM International will be responsible for the majority of new engines delivered in the region, capturing 64% of the total market, followed by Pratt & Whitney (12%) and General Electric (11%).
Asia-Pacific engine MRO expenditures are expected to increase at a 1.7% CAGR over the next 10 years, with a total demand arriving at $101.8 billion in constant U.S. dollar terms, driven by nearly 23,000 engine maintenance events.