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Increasing emphasis on the reduction of emissions and aircraft operating costs is driving market growth
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. The Continuous Lower Energy, Emission, and Noise Program Phase II (CLEEN II) initiative was launched with the objective of reducing noise levels by 32 decibels, carbon and nitrogen oxide emissions by 75%, and fuel burn by 40%. This initiative aims to ensure that aircraft and component manufacturers focus on the electrification of propulsion systems. Due to the limited availability of electric battery power generation, manufacturers are expected to focus on hybrid-electric power generation with the adoption of micro turbine engines to enhance power generation capacity. The break-up of profiles of primary participants in the aircraft micro turbine engines market:
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
Key players in the aircraft micro turbine engines market are Honeywell International Inc. (US), UAV Turbines, Inc. (US), Turbotech SAS (France), PBS Group (Czech Republic), GE Aviation (US), AMT Netherlands B.V. (Netherlands), Williams International (US), Micro Turbine Technology B.V. (Netherlands), BF-Turbines (Germany), Kratos Defense & Security Solutions, Inc. (US), Elliott Group (US), Sentient Blue Technologies (Italy), Rolls-Royce Holdings plc (US), JetCat Americas (US), JetsMunt SL (Spain), Stuttgart Engineering Propulsion Technologies UG (Germany), Lambert Microturbine (Germany), Hawk Turbine AB (Sweden), Bowman (UK), and Brayton Energy (UK), among others.
This study covers the aircraft micro turbine engines market across segments. It aims to estimate the size and the growth potential of this market across different segments, such as end use, engine type, platform, horsepower, application, fuel type, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report
- This report will help market leaders as well as new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft micro turbine engines market and its subsegments.
- The report covers the entire ecosystem of aircraft micro turbine engines in the aviation industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, challenges, restraints, and opportunities.