Aircraft Micro Turbine Engines Market Size worth $4.6
JERSEY CITY, NJ, July 28, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “Aircraft Micro-turbine Engine Market” By engine type (turbojet and turboshaft), by platform (general aviation, commercial aviation, military aviation and advanced air mobility), by distribution channel (original equipment manufacturers and aftermarket), by end use (propulsion and auxiliary power), and by geography. According to Verified Market Research, the Aircraft Micro Turbine Engines market size was valued at USD 2.82 Billion in 2022 and is projected to reach USD 4.6 Billion by 2030, growing at a CAGR of 5.6 % from 2023 to 2030.
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Browse the table of contents in depth on “Aircraft Micro-turbine Engine Market”
202 – Pages
126 – Tables
37 – Numbers
Global Aircraft Microturbine Engine Market Overview
Compared to other small-scale power generation technologies, microturbine technology has a number of potential advantages, including compact size, lightweight nature, fewer moving parts, higher efficiency, lower emissions and the possibility of using waste fuels. In order to achieve efficiencies above 80%, waste heat recovery can also be used with micro-turbine systems. Microturbine engines for aircraft are expected to experience significant demand throughout the projection period due to their small size, relatively low capital cost, low operation and maintenance expense, and electronic control. autonomous.
Moreover, due to the introduction of technologically advanced aircraft and their advantages, such as reduced emissions, increased efficiency and reduced fuel consumption, R&D activities for the development of turbine micromotors for aircraft have increased in recent years. These benefits are expected to fuel the growth of the aircraft micro-turbine engine market over the forecast period. The aviation sector requires a lot of financing. Before being installed in an aircraft, even the smallest component must undergo many rounds of testing and refinement. The price of R&D for aircraft parts is added to this. Additionally, the expense of maintaining and repairing used engines adds to the overall cost of micro aviation turbine engines, limiting market expansion.
The major market players are AeroDesignWorks GmbH, Elliott Company, General Electric Company, Honeywell International Inc., Kratos Defense & Security Solutions, Inc., Micro Turbine Technology BV, PBS Group. like, Sentient Blue Technologies, Turbotech SAS, Williams International..
Verified Market Research has segmented the global aircraft micro-turbine engine market on the basis of engine type, platform, distribution channel, end-use, and geography.
- Aircraft Micro-Turbine Engine Market, By Engine Type
- Aircraft Micro-Turbine Engine Market, By Platform
- general aviation
- commercial aviation
- military aviation
- Advanced Air Mobility
- Aircraft Micro-turbine Engines Market, By Distribution Channel
- Original Equipment Manufacturers
- Secondary market
- Aircraft Micro-Turbine Engine Market, By End Use
- auxiliary power
- Aircraft Micro-Turbine Engine Market, By Geography
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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