The Global Commercial Aircrafts Gas Turbine Engine market 2012-2016 to grow at a CAGR of 6.1 percent over the period 2012-2016. One of the key factors contributing to this market growth is increase in air traffic. The Global Commercial Aircrafts Gas Turbine Engine market has also been witnessing the use of biofuels in aircraft engines. However, the increasing technological changes in aircraft engines could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Commercial Aircraft Gas Turbine Engine market is the rise in demand for fuel-efficient aircraft engines. ATF accounted for a large part of the overall operating cost of airlines. Airlines can generate more revenue by using commercial aircraft gas turbine engines that consume less ATF. Therefore, the demand for fuel-efficient engines is increasing.
One of the main factors driving the market is the rise in demand for low-cost carriers (LCC). The rise of LCCs has resulted in a considerable increase in the overall passenger traffic, which is driving the market for commercial gas turbine engines. With the business model of running an LCC being successful, numerous airlines are looking at the prospect of launching their own LCCs for short haul flights.
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