Analysis: Needs Of Narrowbody Aircraft Leads Engine Growth
After shrinking by more than 6,000 earlier this year, the engine fleet strength is expected to recover from the impact of COVID-19 over the next 10 years.
The turbine engine fleet associated with active aircraft grows at a 2.2% CAGR, with the lead growth driver being the needs of an ever-increasing share of narrowbody aircraft.
Growing at a 3.8% CAGR overall, next-generation narrowbody types LEAP and PW1000G will see 20% and 14% CAGRs respectively. By 2029, the LEAP engine will surpass the CFM56 as the most popular engine, with more than 18,000 in-service.