Market Scenario
Market Research Future (MRFR) studied the Global Aircraft Micro Turbine Engines Market 2020 across the review period 2019 to 2026. By 2026, the aircraft micro turbine engines market can surge at 9.8% CAGR. On the conclusion of the review period, the aircraft micro turbine engines market value can rise above USD 47.52 Bn. COVID 19 assessment for the aircraft micro turbine engine market can is offered with the report.
The growing demand for convenient and robust propulsion system for UAV and surge in the demand for UAVs can support the aircraft micro turbine market in the analysis period. The increase in the demand for micro turbine engines that offer high endurance to fully electric propulsion systems can promote the micro turbine market in the years to come.
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Micro turbine engines have a small number of moving parts, compact aircraft micro turbine engines market. Stringent regulations and increase in cost for micro turbine engines can slow down the market expansion in the review period. However, increase in the military application of UAVs for tactical missions can counter the market surge in the near future.
Key Players
AMT Netherlands B.V., PBS Group, Honeywell International Inc., Micro Turbine Technology B.V., Rolls-Royce Holdings PLC, TURBOTECH SAS, Stuttgart Engineering Propulsion Technologies UG, UAV Turbines, Inc., Hawk Turbine AB, Williams International, Brayton Energy, JETCAT Americas, Lambert Microturbine, GE Aviation, and KRATOS Defense & Security Solutions, Inc. are some key players of the Aircraft Micro Turbine Engine Market that are listed by MRFR.
Industry Segmentation
The segment assessment for the aircraft micro turbine engine market is done by Engine Type and end-user.
The engine type –based segments of the aircraft micro turbine engine market are Turbojet Micro Turbine Engines and Turboshaft Micro Turbine Engines. The significant rise in demand for such engines due to increase in awareness about its advantages, such as; lightweight, compact size, greater efficiency, and less emissions can promote the market surge. The turboshaft microturbine engine is optimized to produce shaft power that can boost propulsion system for VTOL and light aircraft.
The End-User-based segments of the Aircraft Micro Turbine Engine Market are military & defense, and commercial. The prior segment can rise at high pace due to increase in application of UAVs for surveillance, intelligence, and reconnaissance (ISR) missions. The commercial segment can rise at steady pace due to rise in the number of start-ups, high competition, and subsequent decline in UAV costs. The surge in application of commercial UAVs can also favor the market surge. In addition, development of air taxis that offer greater urban air mobility can drive the market rise.
Regional Assessment
In North America, the aircraft micro turbine engines market can surge due to presence of key players, such as; GE Aviation, Honeywell International Inc., and PBS Group, along with high investments made by these companies for the development of advanced micro turbine engines.
In Europe, the increase in the application of UAVs for surveillance, intelligence, and reconnaissance missions can favor the market across the study period.
In Asia Pacific, the market can rise with the high CAGR in the assessment period. The escalation in defense expenditure, advancements in UAVs, and increase in terrorist activities can promote the regional market in the near future.
In Middle East and Africa, the aircraft micro turbine market can surge as hike in defense expenditures is observed.
In Latin America, the growing demand for UAVs for drug trafficking, control of illegal migration, and deforestation monitoring can drive the market surge.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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