Global Aircraft Microturbine Engine Market Size is Expected to Reach USD 53.63 Million by 2027, According to Shingetsu Research
The global aircraft microturbine engine market size is expected to reach USD 27.8 million in 2020 and reach USD 53.63 million by 2027
USA, Feb. 15, 2022 /EINPresswire.com/ — The global aircraft microturbine engine market size is expected to reach USD 27.8 million in 2020 and reach USD 53.63 million by 2027, growing at a CAGR of 9.84% in 2020-2027. This is due to major OEMs and aircraft manufacturers around the world focusing on research and development to reduce operating costs and emission levels. Additionally, the growing focus on the development of clean energy engines in aircraft will drive the growth of the global aircraft microturbine engine market. Moreover, the growing awareness worldwide for the development of emission-free engines in the aviation sector and cost-effective products will trigger the demand for microturbine engines for aircraft in the coming periods. A micro-turbine is relatively quiet because the high frequency sound it produces will quickly attenuate in the atmosphere and point up and away from the ground. Additionally, the motor can be configured to produce up to 10 kW of electrical power. The microturbine engine has many advantages over the traditional reciprocating engine; it can produce higher energy density efficiency (related to weight and size), extremely low heat radiation and few moving parts make it easy to maintain. It also saves the lubricants and refrigerants needed for air conditioning.
Additionally, the microturbine assists operators in new and smarter ways, such as providing power autonomously in any ground environment and reducing fuel consumption while increasing overall efficiency. of the aircraft and the value of the hull. These factors are driving the robust growth of the global aircraft microturbine engine industry. In addition, the microturbine engine is widely used in the urban air mobility and defense industries to make unmanned aircraft systems (UAS) as common as airplanes, trucks and ships for commercial and defense.
Overview of the platform in the Global Aircraft Micro-turbine Engines Market:
Based on the platform, the global aircraft microturbine engine market is categorized into VTOL, air taxi, business jet, cargo air vehicle, ultra-light aircraft, military trainer aircraft and military drone. The VTOL segment is expected to dominate the market by 2027. This is due to the growing focus on developing a hybrid-electric power generation system that improves the range of these aircraft platforms.
Overview of power in global aircraft micro-turbine engine market:
On the basis of horsepower, the global aircraft microturbine engine market is divided into 5–50 HP, 50–100 HP and 100–200 HP. The 5 to 50 HP segment is expected to dominate the market by 2027, due to its application to provide thrust to drones and generate electrical power as small generators.
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Overview of Engine Type in Global Aircraft Micro Turbine Engine Market:
Based on engine type, the global aircraft microturbine engine market is divided into turbojet microturbine engines and turboshaft microturbine engines. The micro-turbine turboshaft segment is expected to dominate the market by 2027 due to its uses for light helicopters weighing up to 1,000 kg and its ability to operate in cold temperatures below -30°C without preheating .
Overview of Global Aircraft Micro Turbine Engines Market Application:
Based on application, the global aircraft microturbine engine market has been categorized into civil aviation, urban air mobility (UAM), unmanned aircraft, and military aviation. The Urban Air Mobility segment is expected to witness higher growth over the forecast period. It is due to the growing demand for unmanned aircraft in the defense sector for its long-endurance capability and remotely controlled by human or autonomous operators.
Overview of end use in global aircraft micro-turbine engine market:
On the basis of end use, the global aircraft microturbine engine market has segregated into OEM and Aftermarket. It is estimated that OEM segments will dominate the market by 2027 due to growing demand for carbon emission turbines in defense and drone sectors.
Regional Overview of Global Aircraft Micro-turbine Engines Market:
By geography, the global aircraft micro-turbine engine market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America was predicted to dominate the market by 2027, owing to the increase in demand for the development of aircraft that are cost effective, energy efficient, lightweight and capable of carrying large payloads over long distances.
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Global Aircraft Micro-turbine Engine Market: Competitive Landscape:
Companies such as Honeywell International Inc., UAV Turbines, Inc., Turbotech SAS, PBS Group, GE Aviation, AMT Netherlands BV, Williams International, Micro Turbine Technology BV, BF-Turbines, Kratos Defense & Security Solutions, Inc., Elliott Group, Sentient Blue Technologies, Rolls-Royce Holdings plc, JetCat Americas, JetsMunt SL, Stuttgart Engineering Propulsion Technologies UG, Lambert Microturbine, Hawk Turbine AB, Bowman and Brayton Energy are the major players in the global aircraft microturbine engine market.
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