DUBLIN--(BUSINESS WIRE)--The "Aircraft Micro Turbine Engines Market by End-Use, Engine Type, Platform (VTOL, Air Taxi, Cargo Aerial Vehicle, Business Jet, Ultra-Light Aircraft, Military Trainer Aircraft, and Military UAV), Horsepower, Fuel Type, Application, and Region-Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The aircraft micro turbine engines market is projected to grow from USD 26 million in 2021 to USD 61 million by 2030, at a CAGR of 10.0% during the forecast period.
The increasing need to reduce carbon emissions and control environmental pollution is expected to drive demand. However, the limited power generation capacity of micro turbine engines compared to conventional aircraft engines is limiting the overall growth of the market.
Based on horsepower, the 50 to 100 HP segment is projected to lead the aircraft micro turbine engines market by 2030
Based on horsepower, the 50 to 100 HP segment is projected to lead the aircraft micro turbine engines market by 2030 due to its wide application areas and ongoing developments by manufacturers. Turbotech SAS (France) is in the process of developing a micro turbine engine with a capacity of 74 HP (TG-R55) for small aerial vehicles. Micro turbine engines with a power rating of 50-100 HP are expected to be used in eVTOLS, UAV, and air taxi applications to support power generation in hybrid systems or as standalone units for short-range applications. The growing penetration of micro turbine engines in aircraft propulsion systems is expected to be the main driver for the growth of this segment during the forecast period.
Based on end-use, the OEM segment is projected to witness the largest share in the aircraft micro turbine engines market over the forecast period
The OEM segment is expected to witness higher growth compared to other segments in the aircraft micro turbine engines market. The development of next-generation aircraft is one of the significant factors driving the growth of the aircraft micro turbine engines market across the globe. In addition, increased focus of OEMs on electrification and continuous technological advancement is also expected to influence the growth of the aircraft micro turbine engines market during the forecast period.
North America is estimated to account for the largest share of the market in 2030 North America is projected to capture the lion's share of the aircraft micro turbine engines market. Recently, significant efforts have been undertaken by the US Federal Aviation Administration (FAA) to address environmental and resource conservation issues such as energy efficiency and carbon & nitrogen oxide emissions from aircraft.
- Low Operating & Maintenance Costs
- Limited Range and Capacity of Fully Electric Aircraft
- Reduced Aircraft Noise & Emission
- Structural Advantages of Aircraft Micro Turbine Engines
- Emergence of Hybrid Electric Power Generation Technology
- Development of Distributed Power Generation Systems
- Reliability of Micro Turbine Engines in Harsh Environments
- High Cost of Micro Turbine Engines
- Honeywell International Inc.
- UAV Turbines, Inc.
- Turbotech Sas
- PBS Group
- GE Aviation
- AMT Netherlands B.V.
- Williams International
- Micro Turbine Technology B.V.
- Kratos Defense & Security Solutions, Inc.
- Elliott Group
- Sentient Blue Technologies
- Rolls-Royce Holdings plc
- Jetcat Americas
- Jetsmunt Sl
- Stuttgart Engineering Propulsion Technologies Ug
- Lambert Microturbine
- Hawk Turbine Ab
- Brayton Energy
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