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Aviation News Item: 00861
16th Nov 2009
World Turbofan Engine Market Forecast at US$292 billion Through 2018
Source: fly-corporate.com
 A credit crisis and the resulting slowdown in the world economy has exacerbated the turbine engine industry's normal downcycle.
The exuberance of the three-year period prior to the fourth quarter of 2008 saw annual aircraft sales growing at an unsustainable pace, eclipsing that of the previous year, three years running. With signs of economic recovery only recently on the horizon, Forecast International expects the turbine engine market to remain essentially stagnant through 2012, and then rebound in 2013.
In total, the world turbofan engine market is projected to generate US$292 billion in revenue during the 2009-2018 period through the production of 66,273 engines.
The business aircraft segment has been hit with a double whammy between the credit freeze and the negative publicity of executive use of company business jets. The credit issue will work itself out over time, but the public's negative perception of private jets has caused many orders to be deferred or canceled outright. Several business aircraft programmes, both in-production and developmental, have fallen victim to the tough economic climate. In spite of this, the industry is developing new aircraft designs in anticipation of the market's reversal. Pratt & Whitney Canada, Rolls-Royce, Honeywell and Williams are all involved in engine development programmes to power these new jets.
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