Aviation Gas Turbine Market Market Growth and Trends
The global aviation gas turbine market held a market value of US$ 6.9 billion in 2019 and is estimated to grow at a CAGR of 8.2% to an expected market value of US$ 43.7 billion by 2026. The increasing globalization and booming air travel are the major driving factors behind the growth of the aviation gas turbine market.
Aviation Gas Turbine Market Size shall reach a value of $xx Million in 2031, growing with a CAGR of 9.1% during the forecast period of 2022 to 2031.
The increasing globalization has resulted in emerging economies with higher disposable incomes. An elevated level of migration has lead to a tremendous increase in the need for swift modes of traveling. The increasing numbers of global travelers and a rise in global trade have increased the air voyage. This has contributed to more demand for aircraft from the aerospace industry. The booming aircraft industry has positively influenced the growth curve of the aviation gas turbine market.
The defence sector is the major contributor to the aviation gas turbine market growth. The rising threats of terrorism have increased the need for highly advanced aircraft to negate any attacks. Several governments are investing highly in the advancements of aircraft propelling the global demand for the aviation gas turbine market. This augments the market growth for the aviation gas turbines.
The turbofan sector is forecasted to expand at a high CAGR by 2027. The commercial aircraft sector has been dominating the market share of the aviation gas turbine market. The rising shift towards adopting the gas-fired turbines over greenhouse gases emitting traditional power generators has fueled the growth of the aviation gas turbine market. The rising Government-mandated energy demands coupled with renewing the natural energy resources is strengthening the market.
The technological advancements provided by the aviation gas turbine technology like advanced efficiency, high-performance, and reliability are increasing the desirability quotient of the aviation gas turbines. The heavy-duty aviation gas turbine sector is forecasted to witness high growth by 2025. The increasing developments of sustainable power generation plants across district heating are likely to complement the market growth.
The rising technological updations rendered by the R&D sector are expected to present a promising future for the market. Government rules and regulations are favourable to the expansion of the gas turbine market. The strategic marketing employed by the top market players to expand the market horizon and deepen their foothold in the market is expected to drive the market upwards.
Aviation Gas Turbine Market Industry Regional Analysis
Aviation Gas Turbine Market Market Research Report Scope/Definition
Aviation Gas Turbine Market Market Share and Competition Key companies operating in this industry are: General Electric Aviation ; CFM International ; Pratt & Whitney Division ; Rolls-Royce ; Avio Aero ; Engine Alliance ; International Aero Engines ; MTU Aero Engines and NPO Saturn
Aviation Gas Turbine Market Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Turbojet
• Turbofan
• Turboprop
• Others
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Commercial Aircraft
• Defense Aircraft
• Business Aircraft
• Others
Region Analasis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Aviation Gas Turbine Market Industry Companies
• General Electric Aviation
• CFM International
• Pratt & Whitney Division
• Rolls-Royce
• Avio Aero
• Engine Alliance
• International Aero Engines
• MTU Aero Engines
• NPO Saturn
Available Versions of Aviation Gas Turbine Market Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
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