Aircraft Micro Turbine Engine Market to Reach USD 75.9 Million Globally by 2030

Increase in air passenger traffic over the years has caused a tremendous rise in demand for new aircraft & components around the world.

PORTLAND, OR, US, February 26, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global Aircraft Micro Turbine Engine market generated $34.8 million in 2020, and is predicted to reach $75.9 million in 2030, exhibiting a CAGR of 9.0%. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07204

North America dominates the market, in terms of revenue, followed by, Asia-Pacific, Europe, and LAMEA. U.S. dominated the global aircraft micro turbine engine market in North America in 2020, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making durable and long-lasting aircraft micro turbine engines. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in air passenger traffic across different nations in the region along with implementation of stringent aircraft fuel-efficiency regulations and regular inspections across the prominent countries such as China, India, and Japan.

Based on distribution channels, the OEM segment contributed to the highest market share in 2020, attributing to more than half of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 8.8% from 2021-2030. The report also analyzes the aftermarket segment.

Depending on application, the aircraft micro turbine engine market is segregated into civil, defense, and others. The civil segment was the major revenue generator in 2020, owing to increasing number of new players, along with the advent of new aerial mobility solutions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/aircraft-micro-turbine-engine-market/purchase-options

By engine type, the aircraft micro turbine engine market is segregated into turboshaft and turbojet. The turboshaft segment accounted for the highest revenue in 2020, owing to rise in technological developments in making smaller, lighter, and high-performance turboshaft engines that can attain high flight levels.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

𝐄𝐋𝐋𝐈𝐎𝐓𝐓 𝐂𝐎𝐌𝐏𝐀𝐍𝐘, 𝐀𝐞𝐫𝐨𝐃𝐞𝐬𝐢𝐠𝐧𝐖𝐨𝐫𝐤𝐬 𝐆𝐦𝐛𝐇, 𝐓𝐔𝐑𝐁𝐎𝐓𝐄𝐂𝐇 𝐒𝐀𝐒, 𝐏𝐁𝐒 𝐆𝐑𝐎𝐔𝐏, 𝐀. 𝐒., 𝐒𝐄𝐍𝐓𝐈𝐄𝐍𝐓 𝐁𝐋𝐔𝐄 𝐓𝐄𝐂𝐇𝐍𝐎𝐋𝐎𝐆𝐈𝐄𝐒, 𝐇𝐎𝐍𝐄𝐘𝐖𝐄𝐋𝐋 𝐈𝐍𝐓𝐄𝐑𝐍𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐈𝐍𝐂., .𝐊𝐑𝐀𝐓𝐎𝐒 𝐃𝐄𝐅𝐄𝐍𝐒𝐄 & 𝐒𝐄𝐂𝐔𝐑𝐈𝐓𝐘 𝐒𝐎𝐋𝐔𝐓𝐈𝐎𝐍𝐒, 𝐈𝐍𝐂., 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐌𝐢𝐜𝐫𝐨 𝐓𝐮𝐫𝐛𝐢𝐧𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐁.𝐕., 𝐆𝐄𝐍𝐄𝐑𝐀𝐋 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐎𝐌𝐏𝐀𝐍𝐘

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on engine type, the turboshaft industry segment accounted for the largest market share in 2020, contributing to around three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. The segment is estimated to witness the fastest CAGR of 8.7% from 2021 to 2030. The report also covers the turbojet segment.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07204

On the basis of distribution channel, the market is divided into OEM and aftermarket. The OEM segment garnered highest revenue in 2020, owing to the rise in air travel along with surge in demand for low weight and higher efficiency engines.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By engine type, the turboshaft segment is expected to register a significant growth during the forecast period.

On the basis of distribution channel, the OEM segment is anticipated to exhibit significant growth in future.

Depending on application, the civil segment is projected to lead the global aircraft micro turbine engine market.

Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Aircraft Brake System Market – https://www.alliedmarketresearch.com/aircraft-braking-system-market-A06199

Aircraft Health Monitoring System Market – https://www.alliedmarketresearch.com/aircraft-health-monitoring-system-market

Satellite Payload Market – https://www.alliedmarketresearch.com/satellite-payloads-market

Special Mission Aircraft Market – https://www.alliedmarketresearch.com/special-mission-aircraft-market-A09240

David Correa
Allied Market Research
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