What is Aviation Gas Turbine Market?
Gas turbine engines work on the Brayton cycle. Aviation gas turbines are used in civil and military applications, as well as aero turboshafts, turbofans, turbojets, turboprops, APUs (auxiliary power units). Rising demand and government initiatives for new airlines led to the growth of this market.
Highlights from Aviation Gas Turbine Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | General Electric (United States), CFM International (United States), Pratt & Whitney Division (United States), Rolls-Royce (United Kingdom), Engine Alliance (United States), Avio Aero (Italy), International Aero Engines (United States), MTU Aero Engines (Germany), Williams International (United States) and Safran Aircraft Engines (France) |
The aviation gas turbine market is highly competitive, with numerous players vying for market share. These companies specialize in the manufacturing and supply of gas turbine engines and related components for the aviation industry. They offer a range of products and services, including engine design, production, maintenance, and aftermarket support. The competitive landscape is shaped by factors such as technological advancements, product innovation, customer relationships, and global reach. Key players in the market continually strive to enhance engine performance, fuel efficiency, and environmental sustainability to meet the evolving demands of the aviation industry. The competition drives ongoing research and development efforts, as well as strategic partnerships and collaborations to gain a competitive edge in this dynamic market segment. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aviation Gas Turbine market throughout the forecasted period.
General Electric (United States), CFM International (United States), Pratt & Whitney Division (United States), Rolls-Royce (United Kingdom), Engine Alliance (United States), Avio Aero (Italy), International Aero Engines (United States), MTU Aero Engines (Germany), Williams International (United States) and Safran Aircraft Engines (France) are some of the key players profiled in the study. Aviation Gas Turbine Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Civil Aviation and Military Aviation |
Type | Small Gas Turbine (0.3MW-20MW) and Micro Gas Turbine (30-300KW) |
By Aircraft Type | Fixed-Wing Aircraft,Rotary-Wing Aircraft |
On the basis of geography, the market of Aviation Gas Turbine 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in the Field of Aviation Gas Turbine
Market Growth Drivers:
High Aircraft Production and Rising Military Expenditure on Air force Sector
Challenges:
Low Defence Budget from Some Nations
Restraints:
High Price of Aircraft
Opportunities:
Rising Demand for Airlines, due to preference of Travelling from the People, Research and Development in the Aviation Department and Government Initiatives to Increase the Number of Fighter Aircrafts
Key Target Audience
Aircraft Turbine Manufacturers, Aircraft Turbine Distributors/Traders/Wholesalers, Aircraft Turbine Subcomponent Manufacturers, Industry Association and Government Bodies and Others
Market Leaders & Development Strategies
In September 2022, According to individuals familiar with the matter, Veritas Capital Fund Management LLC, a private equity firm, acquired Chromalloy Gas Turbine LLC, an aircraft parts manufacturer, from Carlyle Group Inc for a total value exceeding USD1.6 billion, including assumed debt.
In June 2021, GE Aviation and Safran unveiled an ambitious technology development program aimed at achieving a significant reduction of over 20 percent in fuel consumption and CO2 emissions compared to current engines. This program, known as CFM RISE (Revolutionary Innovation for Sustainable Engines), will focus on showcasing and advancing a series of groundbreaking technologies for future engines that have the potential to be operational by the mid-2030s.