Not the GP, but I'll take a stab.
Roughly speaking, you can increase the efficiency of an airplane in 2 ways: increase the thermodynamic efficiency of the engine, and make the engine push more air at a slower speed.
For the first one you need to make the engine burn hotter. Since metals melt at a certain temperature, you need to use ceramics if you want to exceed that temperature. Such as Silicon Carbide [1] which "melts" (or decomposes) at 2830 degrees Celsius. The efficiency of an ideal Carnot engine is 1-T_cold/T_hot, so if T_cold = 300K and T_hot = 3000K, you end up with 90% efficiency. Of course the jet engine is not quite the Carnot engine, but the idea stands that higher burning temperature leads to higher efficiency. Now, if manufacturers decide to use Hafnium Carbide one day, that one melts at 1000 degrees Celsius higher.
The second method is due to the relationship between momentum and energy. Energy is m v^2/2, which means that for a given energy (think quantity of jet fuel burned in the engine), you can either push a certain amount of air at a given speed, or 4 times as much air at half the speed. But momentum is m v, so the second choice gives you twice the momentum. In other words, twice the thrust. To push more air, you want to grab more air, so you want turbines with higher diameter, and a higher bypass ratio.
General Electric and Pratt&Whitney do exactly that with their engines. Engines with higher bypass ratios and using ceramics (more precisely, ceramic matrix composites). In fact GE's engine is so fantastic, that Boeing decided to put it on the 730-Max, and the rest is history ...
So, yes, Boeing and Airbus know what needs to be done, but it's just not that trivial.
[1] https://en.wikipedia.org/wiki/Silicon_carbide