Global Aircraft Micro Turbine Engines Markets Report 2022-2030 with Profiles of Major Companies – Raytheon, Honeywell International, Kratos Defense & Security Solutions,, Safran, and UAV Turbines – QNT Press Release


Dublin, May 05, 2022 (GLOBE NEWSWIRE) — The “Aircraft Micro Turbine Engines Market by End Use (OEM, Aftermarket), Platform (General Aviation, Commercial Aviation, Military Aviation, Advanced Air Mobility), Horsepower, Engine Type, Fuel Type and Region – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The Aircraft Micro Turbine Engines Market is projected to grow from USD 2.8 billion in 2021 to USD 4.5 billion by 2030, at a CAGR of 5.5%

The market exhibits lucrative growth potential during the forecast period primarily due to the inherent operational benefits of micro turbine engines, including low operating and maintenance costs of micro turbine engines and the introduction of new generation hybrid architecture in aircraft.

Nevertheless, the emergence of hybrid electric power generation technology and the development of distributed power generation systems are anticipated to open several growth opportunities for aircraft micro turbine engine manufacturers during the forecast period.

The Aircraft Micro Turbine Engines Market is dominated by a handful of established players, mainly due to the high technical expertise required to design the high-performance components of a micro turbine engine.

The key players in the market include Raytheon Technologies Corporation (US), Honeywell International Inc. (US), Kratos Defense & Security Solutions Inc. (US), Safran SA (France), and UAV Turbines Inc. (US), among others . Major focus was given to the contracts and new product development due to the changing requirements of end-user industries globally.

Based on installation, the aftermarket segment of the aircraft micro turbine engines market is estimated to account for the largest market share from 2021 to 2030

Based on installation, the auxiliary power segment is expected to dominate the market share during the forecast period (2021 to 2030). The aftermarket segment of the aircraft micro turbine engines market is limited to the replacement of auxiliary power units (APUs) once its service life expires.

Since the aftermarket segment mainly replaces micro turbines on old aircraft, the research excludes platforms such as light aircraft, military UAVs, and advanced air mobility (cargo drones and air taxis). Micro turbine engine manufacturers are the sole source of APU replacement.

The aftermarket for micro turbine engines of light aircraft, military UAVs, and advanced air mobility aircraft is futuristic as many of these products are yet to be commercialized. However, the continuous advancements in micro turbine engine technology are expected to drive the growth of the aftermarket segment.

Based on end-use, the auxiliary power segment is estimated to account for the largest market share from 2021 to 2030

Based on…

Full story available on Benzinga.com



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