JERSEY CITY, N.J., July 28, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published 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 Engine 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 in-depth TOC on “Aircraft Micro Turbine Engine Market”
202 - Pages
126 – Tables
37 – Figures
Global Aircraft Micro Turbine Engine Market Overview
In comparison to other small-scale power generation technologies, micro turbine technology has a number of potential advantages, including compact size, lightweight nature, fewer moving parts, higher efficiency, lower emissions, and the possibility to use waste fuels. In order to obtain efficiencies of more than 80%, waste heat recovery can also be used with micro turbine systems. Aircraft micro turbine engines are anticipated to have significant demand throughout the projection period due to their tiny size, comparatively low capital costs, low operations and maintenance expenses, and autonomous electronic control.
Additionally, due to the introduction of technologically advanced aircraft and their benefits, such as decreased emissions, increased efficiency, and lower fuel consumption, R&D activities for the development of aircraft micro turbine engines have increased over the past few years. These benefits are anticipated to fuel the growth of the Aircraft Micro Turbine Engine Market during the forecast period. The aviation sector requires a lot of finance. Before being put in an aircraft, even the smallest component must undergo numerous rounds of testing and improvement. The price of R&D for airplane parts is added up in this. Additionally, the expense of used engines’ maintenance and repairs adds to the overall cost of aviation micro turbine engines, limiting the market’s expansion.
Key Players
The major players in the market are AeroDesignWorks GmbH, Elliott Company, General Electric Company, Honeywell International Inc., Kratos Defense & Security Solutions, Inc., Micro Turbine Technology B.V., PBS Group. a.s., 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
- Turbojet
- Turboshaft
- Aircraft Micro Turbine Engine Market, By Platform
- General Aviation
- Commercial Aviation
- Military Aviation
- Advanced Air Mobility
- Aircraft Micro Turbine Engine Market, By Distribution Channel
- Original Equipment Manufacturers
- Aftermarket
- Aircraft Micro Turbine Engine Market, By End-Use
- Propulsion
- Auxiliary Power
- Aircraft Micro Turbine Engine Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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