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Aircra Micro Turbine Engines Market worth 61
million by 2030
The report "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",
is estimated to be worth USD 26 million in 2021
and is projected to reach USD 61 million by
2030, at a CAGR of 10.0 from 2021 to 2030.
Major OEMs and aircraft manufacturers across the
world are focusing on the development of
advanced electric power generation systems for
aircraft. Manufacturers are investing
significantly in research development to curb
emission levels and reduce operating costs.
Research activities around the development of
aircraft micro turbine engines have increased
over the last few years due to the introduction
of technologically- advanced aircraft (such as
hybrid and fully electric aircraft) and
awareness around the various advantages aircraft
micro turbine engines offer over traditional
engines, such as reduced emissions, enhanced
efficiency, lower fuel consumption, and reduced
operating costs. Download PDF Brochure
https//www.marketsandmarkets.com/
pdfdownloadNew.asp?id248924999 The VTOL
segment is estimated to grow at the highest rate
in the aircraft micro turbine engines market
across the forecast period
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Based on platform, the VTOL segment is estimated
to surge with the highest growth rate throughout
the forecast period. The development of VTOL
aircraft is aimed at providing quick mobility in
urban regions across the world. With a large
population dwelling in urban areas, the time
spent by a passenger in traffic has increased,
resulting in the need for quick mobility
services. Companies such as Airbus (France) and
Boeing (US) are investing in research and
development around electric and hybrid VTOL
aircraft. VTOL developers are focusing on a
hybrid-electric power generation system to
enhance the reach of such aircraft platforms.
For instance, Rolls-Royce (US) announced the
development of a comprehensive hybrid aerospace
turbine engine that is expected to be available
for experimental flights after 2021. The
development includes a prototype of the APUS i-5
aircraft to demonstrate the commercial
applications of hybrid- electric technology. The
system could be used across a wide range of
transportation platforms, including VTOLs, to
enable distributed electric propulsion in
aircraft. The urban air mobility segment is
estimated to surge with a prominent growth rate
in the aircraft micro turbine engines market
throughout the forecast period Based on
application, the urban air mobility segment is
estimated to surge with the highest growth rate
across the forecast period. Urban air mobility
vehicles with hybrid-electric propulsion that can
take off from and land on any suitable surface
are in the development stage, making this a
futuristic market. According to the Vertical
Flight Society, the rising number of players
focusing on the development of electric or
hybrid-electric VTOLs is expected to lead to the
production of 42,000 eVTOL aircraft by 2035. The
greater the number of electric or hybrid-electric
VTOL aircraft being manufactured, the higher
will be the demand for micro turbine engines to
power these aircraft. Similarly, commercial
applications of aerial vehicles, such as air
taxis, will
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further increase the penetration of aircraft
micro turbine engines across the forecast
period. North America is projected to lead the
aircraft micro turbine engines market from 2021
to 2030 Based on region, North America is
expected to witness the largest share of the
global aircraft micro turbine engines market
during the forecast period. The US is projected
to be the leading contributor to the North
American aircraft micro turbine engines market,
driven by large investments in the development of
electric or hybrid-electric aircraft and the
emergence of several startups supporting the
evolution of micro turbine engines in the
aviation industry. In recent years, aerial
vehicle manufacturers in the region have been
focusing on the development of aircraft that are
cost-effective, energy-efficient, lightweight,
and capable of carrying large payloads over long
distances. The aircraft micro turbine engines
market has been gaining traction over the past
few years due to the presence of several
established companies as well as startups. Some
of the major players in the aircraft micro
turbine engines market include Honeywell
International Inc. (US), UAV Turbines, Inc. (US),
Kratos Defense Security Solutions, Inc. (US),
Rolls-Royce Holdings plc (US), and Turbotech SAS
(France). Dont miss out on business
opportunities in Aircraft Micro Turbine Engines
Market. Speak to our analyst and gain crucial
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