Global Aviation Gas Turbine Market Will Multiply At An Impressive CAGR Of 5.1% By 2024 & Top Key Players CFM International, Pratt & Whitney Division, Rolls-Royce, Avio Aero, Engine Alliance, International Aero Engines, MTU Aero Engines, NPO Saturn, Power

The global aviation gas turbine market is segmented into aircraft type such as commercial aircraft, business aircraft and defense aircraft. Further, commercial aircraft segment is envisioned to experience remarkable growth over the forecast period owing to growing demand for new aircrafts in airlines across the globe. Additionally, increasing number of regional airlines across the globe is fuelling the demand for new aircrafts which in turn expected to bolster the growth of global aircraft market over the forecast period.

Global Aviation Gas Turbine Market is expected to register a 5.1% CAGR over the forecast period. Moreover, the global aviation gas turbine market was valued at USD 16.2 Billion in 2016 and is expected to reach at notable revenue of USD 31.6 Billion by the end of 2024. The market is expected to expand on the back of a number of factors such as rising air traffic and increasing sales of aircrafts across the globe. Additionally, growing advancements in aviation gas turbine market to make aircraft flying more precise and reliable in air is predicted to augment the growth of global aviation gas turbine market.

North America aviation gas turbine market dominated overall aviation market in 2016. According to U.S. department of transportation, 754 new aircrafts were sold in U.S in 2015 as compared to 725 in 2014. Further, rising sale of new aircrafts and increasing spending on air transport are likely to be the major factors behind the expansion of North America aviation gas turbine market.

Growing Regional Airlines

Increasing number of regional airlines across the globe is likely to augment the demand for new aircrafts. For instance, Indian government’s UDAN scheme is enhancing the infrastructure of regional air travel. In India, government is looking forward to turn a number of airports in regional airports. Further this government initiatives in India is likely to strengthen the regional air travel industry in India which in turn likely to increase the number of new aircrafts in the country. According to International Air Transport Association (IATA), global domestic air travel rose by 5.7% in 2016.

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Increasing Demand for Air Travel

Rising disposable income of the consumers and growing preferences for air travel are factors which are forcing various airline industries to buy new aircrafts to match the passenger traffic at airports. Moreover, 38,050 aircraft are projected to be delivered between 2015 and 2034 which further, is likely to positively impact the growth of the aviation gas turbine market. Furthermore, expansion of low cost aviation is anticipated to supplement the growth of aircraft industry which in turn will drive the growth of the aviation gas turbine market. However, decline in the defense budget spending in some nations is anticipated to negatively impact the growth of the global aviation gas turbine market.

The report titled “Aviation Gas Turbine Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global aviation gas turbine market in terms of market segmentation by type, by aircraft type and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global aviation gas turbine market which includes company profiling of CFM International, Pratt & Whitney Division, Rolls-Royce, Avio Aero, Engine Alliance, International Aero Engines, MTU Aero Engines, NPO Saturn, Power Je and other key players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aviation gas turbine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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