Aircraft Micro Turbine Engine Market Research Report‚ÄĒGlobal Forecast till 2030

Aircraft Micro Turbine Engine Market: Information by Engine Type (Turbojet, Turboshaftand Turboprop), by Application (Vertical Take-Off and Landings {VTOL}, Air Taxis, Cargo Aerial Vehicles {CAVS}, Light Aircraft, Military Unmanned Aerial Vehicle and Others), by Fuel Type (Jet Fuel, Diesel and Others), by End User (Commercial Aviation, Military Aviation and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)‚ÄĒForecast till 2030

ID: MRFR/A&D/8157-CR | November 2022 | Region: Global | 164 Pages         

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Aircraft Micro Turbine Engines Market

Aircraft Micro Turbine Engines Market is projected to grow USD 3,573.3 Million at a CAGR of 5.9% by 2020-2030

Segmentation
By Engine Type Turboshaft Micro Turbine Engines Turbojet Micro Turbine Engines
By End-users Commercial Military Defence Others
Key Players
Companies Profiled   GE Aviation    AMT Netherlands BV    UAV Turbines Inc    Kratos Defense & Security Solutions Inc    Honeywell International Inc    PBS Group    Williams International    Micro Turbine Technology BV    Turbotech SAS    Rolls-Royce Holdings PLC    Williams International.
Drivers
Market Driving Forces   Increasing use of UAVs for countering internal and external security threats.    Low operating & maintenance costs.    Limited range and capacity of fully electric aircraft
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Aircraft Micro Turbine Engine Market Overview:


Aircraft Micro Turbine Engine Market Was Valued At USD 2,127.7 Million In 2021 And Is Expected To Reach USD 3,573.3 Million By 2030, With A CAGR Rate Of 5.9 % During 2022‚Äď2030.


Aircraft micro turbine engine are also regarded as being manageable and having relatively little vibration and noise. Additionally, they provide a range of benefits including variable speed, compact size, quick installation, high-speed operation, cheap maintenance, and low NOX emissions. In both commercial and civil aviation, micro turbine engine are becoming more and more common. Additionally, these turbines are used in unmanned aerial vehicle (UAV) applications for tasks like criminal prevention, telecommunications, agriculture, disaster management, real-time reconnaissance, and remote sensing.


Aircraft micro turbine engine are small-scale combustion turbines that use micro combustion to provide cogeneration, or the simultaneous use of heat and electricity. It is preferred because of its features such as the use of various fuels, small size, and efficiency. Because aircraft micro engines are small, they may fit in very small spaces, freeing up space for other components in the design. The market has a promising growth potential over the projected period, owing to the inherent operational benefits of micro turbine engine  engines, such as low operating and maintenance costs and the introduction of new generation hybrid design in aircraft.


COVID-19 Impact vs Opportunities for Global Aircraft Micro turbine engine Market:


The impact of COVID-19 on the aircraft microturbine engine sector was unexpected, and it will continue in effect until the second quarter of 2021. The COVID-19 outbreak compelled governments to enforce strict lockdown measures, resulting in aircraft cancellations and a restriction on e-commerce services, resulting in a major drop in commercial aviation and logistical activity worldwide. Furthermore, the statewide lockdown impacted supply chains by forcing various manufacturing facilities throughout the world to partially or completely shut down their operations.


According to the International Civil Aviation Organization's (ICAO) yearly global statistics, the total number of commuters carried on scheduled flights increased to 5.2 % as compared to 2018. The overall passenger load factor in 2021 was 68 percent, down from 82 percent in 2019.


Thus, throughout the projected period, the increase in air traffic is expected to boost the growth of the aviation micro turbine engine market.


Market Dynamics:


Drivers:


According to the Stockholm International Peace Research Institute (SIPRI), worldwide military spending will reach $1,981 billion in 2020, a 2.6% rise from the previous year. In 2020, military spending would account for 2.4% of the global GDP. As a result of increased global military spending, the adoption of modern, more devastating warfare technology, such as highly efficient aircraft micro turbine engine, has increased. The increase in defense spending by several countries around the world is likely to drive the growth of the aircraft microturbine engine market during the forecast period.


Opportunities:


According to NASA, distributed electric propulsion (DEP) technology is based on the assumption that tightly integrating the propulsion system with the airframe and dispersing several motors throughout the wing will boost efficiency, cut operating costs, and increase safety. The DEP employs propulsors that can be placed, scaled, and controlled with greater flexibility, allowing it to capitalize on the synergistic benefits of aero-propulsive coupling and outperform more traditional designs. Furthermore, the careful integration of electrically driven propulsors for boundary-layer ingestion increases propulsive efficiency. Propulsor placement and configuration can also be employed to reduce a lifting surface's trailing vortex system or to leverage an increase in dynamic pressure across blown surfaces for improved lift performance.


Restraint:


The growing temperature of the exhaust gases exacerbates the high-temperature condition. However, exhaust gas temperatures can be managed by recycling the excess heat to boost power output even further. To employ microturbine engines in aircraft, specialized cooling methods must be used. Adoption of this technology may be modest due to the greater mechanization involved. As a result, it may impede the expansion of the aviation microturbine engine industry.


Value Chain Analysis


The aircraft micro turbine engine  engine market is growing exponentially and is expected to upsurge shortly. The supply chain analysis for the market comprises four key levels: spare part suppliers, distributors, aircraft microturbine engine providers, and end users.


Segment Overview


The global aircraft micro turbine engine market has been segmented on the basis of Engine Type, Application, Fuel Type, End-User, and Region.  


The global aircraft micro turbine engine market, based on Engine type, has been segmented into Turbojet, Turboshaft and Turboprop. The Turbojet segment accounted for the largest market share in 2021 and is projected to grow at a CAGR of 5.5% during the forecasted period.


 The global aircraft micro turbine engine market, based on application has been bifurcated into Vertical Take-off and landing (VTOL), Air Taxis, Cargo Aerial vehicles, Light Aircrafts, Military Unmanned Vehicles and Others.


.The global aircraft micro turbine engine market, based on fuel type has been divided into Jet Fuel, Diesel and Others.


On the basis of end-user the global aircraft micro turbine engine market has been divided into commercial aviation and military avaiation.


Regional Analysis


The global aircraft micro turbine engine market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America accounted for the largest market share in 2021 due to the presence of major companies, dealers, and suppliers in the U.S. and Canada such as Jetcats America, Honeywell International, and GE Aviation.


The factors contributing to the market growth in  Asia-Pacific include the Indian government is increasing its defense spending. This in turn has increased demand for the procurement of military helicopters and fighter aircraft, supporting the market's expansion. In APAC, China is the main market for aviation microturbine engines. This region's market will expand more quickly than those in other areas.


Europe is the fastest-growing regional market globally due to an increase in the number of electric aircraft development programs, the creation of aerial vehicles with cutting-edge technologies, and an increase in air traffic are the main factors anticipated to contribute to the market's expansion in this region over the course of the forecast period.


Competitive Landscape


The global market for aircraft micro turbine engine is projected to witness healthy growth during the forecast period, owing to the increasing demand for a business microturbine engine. The global market represents strong numbers in terms of consumption.


Key players operating in the global aircraft micro turbine engine ¬†market include Honeywell International Inc., GE Aviation, Rolls-Royce PLC, Kratos Defense & Security Solutions Inc., Raytheon Technologies Corporation, Safran SA, UAV Turbines Inc., Turbotech SAS, PBS Group, a.s., JETS-MUNT SL, Williams International, Sierra Turbines Inc., AMT NetherlandS B.V., Hawk Turbine AB, and Ingenieurb√ľro CAT, M. Zipperer GmbH.


Recent Developments


GE’s strong military portfolio entered the 2022 Farnborough International Airshow. GE. In late June, GE's T901 turboshaft engine, developed as part of the U.S. Army's Improved Turbine Engine Program, finished its First Engine to Test (FETT) campaign (ITEP). On July 2022


The U.S. Department of Energy has chosen Raytheon Technologies for two R&D projects investigating the viability of using hydrogen and ammonia as efficient, carbon-free solutions for generating energy. In the first project, Raytheon Technologies will verify its ability to use hydrogen and hydrogen blends as fuel to run Mitsubishi Power Aero's FT4000 gas turbine unit. The PW4000TM turbofan aviation engine from Pratt & Whitney is available as the FT4000, a land-based version on July 2022


Safran declared a maintenance, repair, and refit (MRO) facility for leading-edge aviation propulsion (LEAP) commercial aircraft engines in India as part of its offset commitments. On July 2022


Williams International has successfully tested its FJ44-4 engine on Williams' experimental flying testbed using 100% Sustainable Aviation Fuel (SAF). The 3.5-hour flight, which took place at a cruise altitude of FL450, left from Williams' flight operations center in Pontiac, Michigan, for destinations in northern Michigan. On April 2021


Report Overview


As per MRFR, the global aircraft micro turbine engine market has been growing significantly over the past few years. The global aircraft micro turbine engine market has been segmented on the basis of  Engine Type, Application, Fuel-Type an End-User. Based on region, the micro turbine engine market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.


Objective of the Study



  • To provide a comprehensive analysis of the Micro turbine engine market and its sub-segments, thereby providing a detailed structure of the industry

  • To provide detailed insights into factors driving and restraining the growth of the global aircraft micro turbine engine market

  • To estimate the size of the global aircraft micro turbine engine market where 2018 to 2020 would be the historical period, 2021 shall be the base year, and 2022 to 2030 will be the forecast period for the study

  • To analyze the global aircraft micro turbine engine market in five main regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America

  • To provide country-wise market value analysis for various segments of the Micro turbine engine market

  • To provide strategic profiling of key companies present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market

  • To provide a value chain for the Micro turbine engine market


Scope of the Report


The scope of the global aircraft micro turbine engine market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global aircraft micro turbine engine market has been segmented on the basis of engine type, application, fuel type and end-user.


Intended Audience



  • Micro turbine engine Administrators

  • Micro turbine engine manufacturers and providers

  • Automobile industry

  • Software integrators

  • Technology investors

  • Regulatory industries

  • Government bodies



Report Scope:

Report Attribute/Metric Details
  Market Size    2030: USD 3,373.7 Million
  CAGR   5.9% CAGR (2022-2030)
  Base Year   2021
  Forecast Period    2022-2030
  Historical Data    2019 and 2020
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    engine type, application, fuel type and end-user.
  Geographies Covered    North America, Europe, Asia-Pacific, Middle East & Africa, and South America
  Key Vendors    Honeywell International Inc., GE Aviation, Rolls-Royce PLC, Kratos Defense & Security Solutions Inc., Raytheon Technologies Corporation
  Key Market Opportunities   Rise in air passenger traffic across the globe Development of distributed power generation system
  Key Market Drivers

  • Increasing use of UAVs for countering internal and external security threats.
  • Low operating & maintenance costs.
  • Limited range and capacity of fully electric aircraft


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    Frequently Asked Questions (FAQ) :

    The North American region is expected to drive the market during the forecasted period.

    The global aircraft micro turbine engine market has been growing rapidly from the past few decades and is expected to reach USD 3,573.7 Million by 2030, at a CAGR of 5.9% during the forecast period.         

    Honeywell International Inc., GE Aviation, Rolls-Royce PLC, Kratos Defense & Security Solutions Inc., and Raytheon Technologies Corporation are expected to be the major competitors in the Micro turbine engine market during the projected period.

    The North America region is expected to be the largest market for Micro turbine engine market during the forecast period.

    High overall temperature of system may slow the growth of the Micro turbine engine market during the forecast period.