Aviation Gas Turbine Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033 | Avio SpA, IHI Corporation, Klimov JSC, Safran SA, Motor Sich JSC

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Aviation Gas Turbine Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.99 billion In 2028 At A CAGR Of 6.5%.

The aviation gas turbine market size has grown strongly in recent years. It will grow from $10.82 billion in 2023 to $11.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increasing air travel demand, regulatory changes, geopolitical factors, airline industry dynamics, supply chain and manufacturing trends.

The aviation gas turbine market size is expected to see strong growth in the next few years. It will grow to $14.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to green aviation initiatives, electrification trends, emerging markets and regional growth, cybersecurity concerns, materials innovation. Major trends in the forecast period include increased demand for fuel efficiency, advanced materials and technologies, rising importance of maintenance, repair, and overhaul (mro) services, integration of digital technologies, shift towards sustainable aviation, growing urban air mobility (uam) sector.

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Aviation Gas Turbine Market Major Segments
The aviation gas turbine market covered in this report is segmented -
1) By Type: Turbojet, Turbofan, Turboprop, Other Types
2) By Propulsion: Electric Based Commercial Aircraft, Special Fuel Based Commercial Aircraft
3) By Application: Commercial Aircraft, Defense Aircraft, Business Aircraft, Other Applications

Key Driver - Surging Global Travel Trends Ignite Growth In Aviation Gas Turbine Market

The increasing numbers of global travelers are expected to propel the growth of the aviation gas turbine market. Global travelers refer to someone who frequently travels abroad or moved from one location to another location. Gas turbines operate on the compression, combustion, and expansion principles. The air's pressure and temperature rise as the air's velocity decreases. This principle maintains power to weight ratio, thus providing more comfort during the flight. For instance, in 2022, according to the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australia-based economic research, analysis, and statistics providing organization, total passenger movements increased from 1.23 million in November 2021 to 16.68 million passengers in November 2022. Further, in December 2021, according to Bureau Of Transport statistics, Passengers on US airlines increased by 119% in October 2021. Therefore, increasing numbers of global travelers are driving the growth of the aviation gas turbine market.

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Prominent Trend - Collaborative Technological Advancements Are Safran Sa And Ge's Innovative Jet Engine Technology For Next-Gen Aircraft

Technological advancements are a key trend gaining popularity in the aviation gas turbine market. Major companies operating in the aviation gas turbine market are involved in developing new and improved advanced technology to sustain their position in the market. For instance, in June 2021, Safran SA, a French-based aircraft equipment company, and GE, a US-based aviation company, announced their partnership to create innovative jet engine technology. The technology demonstrator project is being launched as the aviation industry gears up to compete for the next generation of single-aisle aircraft, including the MAX and A320neo, in the active segment of the market while also dealing with increasing environmental strain.

Aviation Gas Turbine Market Players
Major companies operating in the aviation gas turbine market report are General Electric Company, CFM International Inc., Pratt & Whitney Co. Inc., Rolls-Royce Holdings plc, Avio SpA, Engine Alliance LLC, International Aero Engines AG, MTU Aero Engines AG, United Engine Corporation, Raytheon Technologies Corporation, Williams International Co. LLC, Safran Aircraft Engines, EuroJet Turbo GmbH, Honeywell International Inc., IHI Corporation, Klimov JSC, Kawasaki Heavy Industries Ltd., Safran SA, Solar Turbines Incorporated, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., MAN Energy Solutions SE, MTU Turbomeca Rolls-Royce GmbH, Motor Sich JSC, Chromalloy Gas Turbine LLC, Capstone Turbine Corporation, GKN Aerospace Services Limited, GE Aviation Company .

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Largest And Fastest Growing Region In The Market
North America was the largest region in the aviation gas turbine market in 2023. The regions covered in the aviation gas turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aviation Gas Turbine Market Report Structure
3. Aviation Gas Turbine Market Trends And Strategies
4. Aviation Gas Turbine Market - Macro Economic Scenario
5. Aviation Gas Turbine Market Size And Growth
…..
27. Aviation Gas Turbine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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