Aero Small Gas Turbine Engine Market Scope
Aero small gas turbine engine is specially used for the experimental aircraft, sports gliders, unmanned aerial vehicle,s etc use din the aviation and defense industry. The small gas turbine engine generates a mixture of burning fuel and compressed air. These turbine engines consist of a single-stage compressor with a generator attached to the same shaft. The fuel such as kerosene, diesel, biofuel, synthetic fuel are used in these engines.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Rolls-Royce plc (United Kingdom), Honda Motor Co., Ltd. (Japan), PBS Group, a. s. (Prague), Honeywell International Inc. (United States), Mitsubishi Power, Ltd. (Japan), Cape Aerospace Technologies (South Africa), GE Aviation (General Electric) (United States) and IHI Corporation (Japan) |
CAGR | % |
The major companies are Rolls-Royce plc, Honda Motor Co., Ltd., PBS Group, a. s., and Honeywell International Inc. are daily facing new challenges in the market growth and these key players are contributing their share to increasing the market growth. Mergers and acquisitions, expansions, investments, new service launches, and collaborations are some of the companies' preferred market-exploration strategies. The company is contributing its share to increasing the company’s growth.
Rolls-Royce plc (United Kingdom), Honda Motor Co., Ltd. (Japan), PBS Group, a. s. (Prague), Honeywell International Inc. (United States), Mitsubishi Power, Ltd. (Japan), Cape Aerospace Technologies (South Africa), GE Aviation (General Electric) (United States) and IHI Corporation (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aero Small Gas Turbine Engine market by Type , by Application (Small Civil Aircraft, Unmanned Aerial Vehicles (UAV), Experimental Aircraft, Sport Gliders, Model Aircraft and Others) and Region with country level break-up.
On the basis of geography, the market of Aero Small Gas Turbine Engine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In Sept 2021, Honeywell Acquired Performix Company which produces air turbine start systems (ATSS), and this is helpful to reduce the maintenance cost. Honeywell's strategy to create the world's leading integrated software platform for customers in the life sciences industry who want to achieve faster compliance, improved reliability, and higher production throughput while maintaining the highest levels of quality is being strengthened by this acquisition.
In June 2021, Quanta and OPRA Turbines have reached an agreement. Quanta was able to become an OPRA Turbines reseller in the North Sea offshore oil and gas industry as a result of this partnership. On 21st August 2020, Rolls-Royce deepens partnership with Reaction Engines on cooling technology. Rolls-Royce is followed by another technical partnership – which sees the aero-engine manufacturer deepen its partnership with Reaction Engines and its radical cooling technology. Sub-orbital space aspirant Virgin Galactic unveiled a nine- to 19-seat delta-winged Mach 3 concept with Rolls-Royce power, just weeks after the company was declared propulsion partner for Boom’s 55- 75-seat “Overture” vision of a M2.2 airliner.
Influencing Trend:
Increasing Consumption of Aero Small Gas Turbine Engine in Cruise Missile Applications
Market Growth Drivers:
Growing Aircraft Industry with the Special Type fo Aircraft Application Requirement and Demand for the Auxiliary Power Range in the Aircrafts Used in Defense Industry
Challenges:
Technical Issues with the Supportability and Maintenance Associated with Aero Small Gas Turbine Engine
Restraints:
Stringent Regulatory Guidelines on the Aero Small Gas Turbine Engine
Opportunities:
Technological Advancements in the Aero Small Gas Turbine Engine and Surging Investment of Industries on Aero Small Gas Turbine Engine Aircrafts
Key Target Audience
Aero Small Gas Turbine Engine Manufacturers, Aero Small Gas Turbine Engine International Traders, Aero Small Gas Turbine Engine Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others