New York, United States, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Micro Turbine Market Size to Grow from USD 3.9 Billion in 2023 to USD 5.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.05% during the forecast period.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/3695
As UAVs are becoming more and more needed for military, commercial, and civilian purposes, micro turbines have become popular. The desire for portable, effective power sources has also grown as a result of this demand. In keeping with the growing interest in electric propulsion systems, micro turbines can be utilised to burn biofuels in addition to hydrocarbon fuels, thereby extending the range of hybrid-electric aircraft. The demand for aircraft micro turbine engines is rising as a result of increased investment for the development of micro turbine technology for use in aviation from both public and commercial sources.
Aircraft Micro Turbine Market Value Chain Analysis
At the beginning of the value chain are the suppliers of raw materials, such as metals (steel, titanium, and aluminium), composites, and other materials required to create microturbines. These suppliers provide the components required to assemble turbines. Manufacturers are required to design, engineer, and construct microturbines. This includes assembling components, integrating control systems, and performing quality control testing. Component suppliers supply the specialised parts and subsystems needed to produce micro turbines. This includes parts including fuel delivery systems, combustion chambers, electrical components, and bearings. Microturbines are incorporated into aviation systems by manufacturers. They might design their own aircraft models or alter already-built airframes to incorporate microturbines for use in specialised platforms, general aviation aircraft, or unmanned aerial vehicles. Operators and end users utilise aircraft outfitted with microturbines for a range of applications.
Aircraft Micro Turbine Market Opportunity Analysis
The increasing use of unmanned aerial vehicles (UAVs) in commercial, military, and civilian contexts presents a significant opportunity for microturbine manufacturers. Because micro turbines have the high power-to-weight ratio and extended endurance that UAVs need in their power sources, they are a perfect fit for UAV propulsion systems. Micro turbine-powered aircraft are expected to see growth in popularity as urban air mobility services like air taxis and drone delivery systems become more common. Micro turbines have the potential to enable vertical take-off and landing (VTOL) capabilities, hence providing efficient and eco-friendly urban transportation solutions. The transition of the aviation sector to hybrid-electric propulsion systems presents an opportunity for micro turbines to serve as range extenders or auxiliary power units (APUs).
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Aircraft Micro Turbine Market Size By Engine Type (Turbojet, Turboshaft), By Platform (General Aviation, Commercial Aviation, Military Aviation, Advanced Air Mobility), By End-Use (Propulsion, Auxiliary Power), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
Buy Now Full Report: https://www.sphericalinsights.com/checkout/3695
Insights by Engine Type
The turbojet segment accounted for the largest market share over the forecast period 2023 to 2033. Turbojet engines are widely used in military aircraft due to their high thrust-to-weight ratio and quick operating speeds. The upgrading of military fleets, increased defence spending globally, the development of fighter jets and unmanned aerial vehicles (UAVs), and other factors are driving up the need for turbojet-powered military aircraft. Although turbojets are not as common in commercial aviation as turbofans, they are nevertheless utilised in niche industries such as private jets, executive aircraft, and supersonic transports.
Insights by Platform
The advanced air mobility segment accounted for the largest market share over the forecast period 2023 to 2033. As micro turbines offer a better range and more endurance than battery-electric propulsion systems, they are particularly attractive for AAM applications that require longer flight capabilities. This is necessary to minimise the requirement for frequent charging or refuelling and to enable practical transportation services over longer distances. Demand for AAM services is rising among a number of stakeholders, including investors, IT companies, transportation authorities, and urban planners.
Insights by End Use
The auxiliary power segment accounted for the largest market share over the forecast period 2023 to 2033. APUs supply critical functions such as air conditioning and electrical power to an aircraft when its main engines are not working. With the growth of the global aviation industry and the introduction of increasingly complex aircraft types, there is an increasing demand for robust and efficient APUs. Because they run emergency systems, in-flight amenities, and ground operations for airlines, charter businesses, and air freight carriers, APUs are critical to the commercial aviation sector.
Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/3695
Insights by Region
North America is anticipated to dominate the Aircraft Micro Turbine Market from 2023 to 2033. North America is a significant market for aircraft micro turbines because of its numerous applications in the general aviation, commercial, and military aviation sectors. Microturbine producers can expect to expand their market and enhance their business prospects due to the robust aerospace sector in the area, as well as the growing demand for specialist aircraft platforms, urban air mobility solutions, and unmanned aerial vehicles (UAVs). The North American defence sector uses a lot of aircraft micro turbines; they are used in lightweight UAVs, reconnaissance aircraft, surveillance platforms, and other military applications.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region's rapid economic expansion is driving up defence spending, aerospace technology investments, and commercial aviation. This growth creates opportunities for the application of aircraft microturbines in unmanned aerial vehicles (UAVs), military platforms, and civilian aviation. In the Asia-Pacific region, unmanned aerial vehicles, or UAVs, are highly sought after by the military, business, and civilian sectors. Micro turbines have a high power-to-weight ratio, prolonged durability, and dependability, making them an excellent choice for UAV propulsion systems in surveillance, reconnaissance, and border security applications.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Aircraft Micro Turbine Market Includes 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 and Others
Get Discount At @ https://www.sphericalinsights.com/request-discount/3695
Recent Market Developments
- In October 2018, information published by the International Air Transport Association (IATA) indicates that because of recent improvements in air travel, the number of passengers could double to 8.2 billion by 2037.
Major players in the market
- 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
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Micro Turbine Market, Engine Type Analysis
- Turbojet
- Turboshaft
Aircraft Micro Turbine Market, Platform Analysis
- General Aviation
- Commercial Aviation
- Military Aviation
- Advanced Air Mobility
Aircraft Micro Turbine Market, End Use Analysis
- Propulsion
- Auxiliary Power
Aircraft Micro Turbine Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Browse Related Reports
Middle East Ground Support Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Powered Ground Support Equipment, Non-Powered Ground Support Equipment), By Application (Aircraft Handling, Passenger Handling, Cargo Handling), and Middle East Ground Support Equipment Market Insights Forecasts to 2033
Global Aircraft Cabin Interior Market Size, By Material (Alloy, Composites, Others), By Type (Aircraft and Seating, Entertainment and Connectivity, Cabin Lighting), By End User (OEM, Aftermarket), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033
Global Flight Simulator Market Size, By Product (Full Flight Simulator (FFS), Fixed Flight Training Devices (FTD)), By Application (Military & Defence, Civil), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033
Global Avionics Market Size, By System (Flight management and control, Health monitoring, Electrical and emergency, Communication, Navigation, Others), By Fit (Retrofit, Line Fit), By Platform (Commercial, General, Military), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter
