The desire for higher engine efficiency has resulted in the evolution of aircraft gas turbine engines from turbojets, to low bypass ratio, first generation turbofans, to today's high bypass ratio turbofans. It is possible that future designs will continue this trend, leading to very-high or ultra-high bypass ratio (UHB) engines. Although increased bypass ratio has clear benefits in terms of propulsion system metrics such as specific fuel consumption, these benefits may not translate into aircraft system level benefits due to integration penalties. In this study, the design trade space for advanced turbofan engines applied to a single-aisle transport (737/A320 class aircraft) is explored. The benefits of increased bypass ratio and associated enabling technologies such as geared fan drive are found to depend on the primary metrics of interest. For example, bypass ratios at which fuel consumption is minimized may not require geared fan technology. However, geared fan drive does enable higher bypass ratio designs which result in lower noise. Regardless of the engine architecture chosen, the results of this study indicate the potential for the advanced aircraft to realize substantial improvements in fuel efficiency, emissions, and noise compared to the current vehicles in this size class.