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 in 2028 at a CAGR of 10.6% in the 2021-2028 period.
This information is published by Fortune Business Insights™, in its report, titled, “Aircraft Micro Turbine Market, 2021-2028.”
As per our expert analysts, the market for micro turbine for aviation sector is developing since the past decade. The rising utilization of micro turbines for UAVs and small aircrafts is among the prime aspect, which is said to be accountable for considerable growth in the impending years.
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.
Segmentation
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.
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
List of Key Players Covered in the 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.)
Browse Summary
https://www.fortunebusinessinsights.com/aircraft-microturbine-market-105863
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