Pune, India, April 27, 2023 (GLOBE NEWSWIRE) -- The global aircraft micro turbine market size was USD 25.9 million in 2020. The market is projected to grow from USD 29.1 million in 2021 to USD 58.7 million by 2028 at a CAGR of 10.6% in the 2021-2028 period.
An aircraft micro turbine is a small gas turbine engine designed to provide power to small aircraft and unmanned aerial vehicles (UAVs). The micro turbine is a highly efficient and reliable power source, making it a popular choice for aircraft manufacturers and operators. The engine operates by drawing in air and compressing it, before igniting a mixture of fuel and air to produce high-speed exhaust gases that drive the turbine. The micro turbine is typically used as an auxiliary power unit (APU) or a main power source for smaller aircraft and UAVs, providing electrical power for systems such as avionics, lighting, and environmental control.
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List of Key Players Profiled in the Aircraft Micro Turbine Market Report:
- AeroDesignWorks GmbH (Germany)
- General Electric Company (U.S.)
- Kratos Defense & Security Solutions, Inc. (U.S.)
- PBS Group. a.s. (India)
- Sentient Blue Technologies (Italy)
- Turbotech SAS (France)
- Williams International (U.S.)
- UAV Turbines, Inc. (U.S.)
- AMT Netherlands B.V. (Netherlands),
- Rolls-Royce Holdings plc (U.K.)
- JetCat Americas (U.S.)
- JetsMunt SL (Spain),
- Stuttgart Engineering Propulsion Technologies UG (Germany),
- Lambert Microturbine (Germany)
- Hawk Turbine AB (Sweden)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 10.6 % |
| 2028 Value Projection | USD 58.7 Billion |
| Market Size in 2021 | USD 29.1 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Aircraft Micro Turbine Market Growth Drivers | Growing Demand of Micro Turbine for Military Light Weight UAVs to Boost Market Growth |
| Growing Trend for Hybrid Electrification and Zero Carbon Emission Initiative to Propel Market Growth |
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https://www.fortunebusinessinsights.com/aircraft-microturbine-market-105863
Segments
On the basis of engine type, the market is classified into turboshaft, turbojet, and turboprop.
In terms of fuel type, the market is segregated into JET-A-1, diesel, kerosene, natural gas, and sustainable aviation fuel.
Based on the application, the market is categorized into VTOL, Air Taxi, RC planes, and UAVs.
In regards of end-user, the market is bifurcated into military and commercial.
The military segment is anticipated to have a dominant share in the market during the forecast period.
The Aircraft Micro Turbine market has been divided into North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage
We conduct our reports based on an exhaustive review approach that precisely emphasizes on providing accurate information. Our experts have imposed a data navigation technique that thereby aids us to offer reliable approximations and examine the general market aspects precisely. Further, our researchers have gained admittance to various international as well as domestically sponsored registers for offering the up-to-date material so that the stakeholders and business experts capitalize only in the fundamental zones.
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Driving Factors
Rising Inclination towards Hybrid Electrification & Zero Carbon Emission Initiative to Boost Growth
Research demonstrates that the variety of high battery-powered electrical air vehicles are not compatible with moderately lesser power density of presently obtainable batteries. Basically adding more batteries will lead to the aircraft transforming to be heavy to fly with a practical cargo. The solution is a hybrid system that in turn is set to power the aircraft in flight with battery power offering an elevation during crucial stages such as take-off, hover, and landing. Prime players engaged in the business are capitalizing more in R&D to develop as the forthcoming prime players of hybrid technologies in Aircraft Micro Turbine market.
Regional Insights
North America market size stood at USD 10.2 million in 2020. North America to dominate the market owing to the existence companies, sellers, and suppliers in the U.S and Canada. This region held the largest Aircraft Micro Turbine market share in 2020.
The market Europe is anticipated observe considerable growth owing to majority of prime players and OEMs used to micro turbine manufacturing business belonging to this region.
The market in Asia Pacific is estimated to display significant growth owing to the growing demand for target drones and UAVs.
Competitive Landscape
Crucial Announcements by Fundamental Organizations to Spur Aircraft Micro Turbine Market Growth
The key players implement numerous tactics to boost their position in the market as dominating companies. One such crucial tactic is procuring companies to boost their brand importance among users. Another efficient stratagem is to intermittently unveil inventive products with systematic review of the market as well as its target audience.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Aircraft Micro Turbine Market
- Impact of COVIC-19 Pandemic on the Global Aircraft Micro Turbine Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
- Global Aircraft Micro Turbine Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Micro Engine Type
- Turboshaft
- Turboprop
- Turbojet
TOC Continued...!
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Industry Development
September 2021: DRDO declared that they have positively completed flight-tests high speed dispensable aerial target ABHYAS off Odisha coast. It is driven by a gas turbine engine to withstand a long durable flight at subsonic speed and that the target aircraft is fortified with MEMS (Micro-Electro-Mechanical Systems).
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